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← UWMF FACULTY PHYSICIANS VEBA AND TRUST

Form 990 for tax year 2023

Filed by UWMF FACULTY PHYSICIANS VEBA AND TRUST.

Totals

Total revenue
$647,185
Total expenses
$637,343
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$644,099
Investment income
$3,086
Other revenue
$0
Total assets, end of year
$67,269
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$67,269
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PARTICIPANT CONTRIBUTI

    total $644,099 · related or exempt $644,099

  • 3 · Investment income

    total $3,086 · excluded $3,086

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $637,343

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $57,427 · end of year $67,269

  • 27 · Net assets without donor restrictions

    beginning of year $57,427 · end of year $67,269

Mission and programs · 2023

Mission

TO PROVIDE EACH ELIGIBLE EMPLOYEE OF THE UNIVERSITY OF WISCONSIN MEDICAL FOUNDATION WHO ELECTS TO PARTICIPATE IN THE VEBA UP TO $450,000 OF ADDITIONAL LIFE INSURANCE.

  • TO PROVIDE EACH ELIGIBLE EMPLOYEE OF THE UNIVERSITY OF WISCONSIN MEDICAL FOUNDATION WHO ELECTS TO PARTICIPATE IN THE VEBA, UP TO $450,000 OF ADDITIONAL LIFE INSURANCE IN ADDITION TO ANY LIFE INSURANCE PROVIDED UNDER THE BASIC GROUP LIFE PLAN.

As filed on the 2023 return.

Listed in Part VII

  • Robert Flannery

    SVP/CHIEF FINANCIAL OFFICER

    Total calculated
    $1,432,443
    From this org
    $0
    From related orgs
    $1,211,835
    Other
    $220,608
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $871,949 related
    Bonus
    $0 + $333,874 related
    Other
    $0 + $6,012 related
    Deferred
    $0 + $180,863 related
    Nontaxable benefits
    $0 + $39,745 related
    Filer's total
    $0 + $1,432,443 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 3
WAGE IS PAID BY RELATED ORGANIZATION, UNIVERSITY OF WISCONSIN MEDICAL FOUNDATION. COMPENSATION IS DISCUSSED AND REVIEWED WITH THE BOARD IN AN EXECUTIVE SESSION BY THE DIRECTOR OF COMPENSATION AND BENEFITS
PART I, LINE 4B
ROBERT FLANNERY PARTICIPATES IN A SUPPLEMENTAL, NON-QUALIFIED RETIREMENT PLAN THROUGH HIS EMPLOYER, WHO IS A "RELATED ORGANIZATION TO THE FILING ENTITY. HE PARTICPATES IN A 457(F) PLAN. IN 2023, AN EMPLOYER CONTRIBUTION OF $138,184 WAS MADE FOR ROBERT FLANNERY. THE BENEFIT TAXABLE DURING 2023 UNDER THIS ARRANGEMENT WAS $0.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202423119349303097

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