Totals
- Total revenue
- $165,108,526
- Total expenses
- $139,134,513
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $160,933,972
- Investment income
- $4,174,554
- Other revenue
- $0
- Total assets, end of year
- $125,737,652
- Total liabilities, end of year
- $19,403,701
- Net assets or fund balances, end of year
- $106,333,951
- 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: PREMIUM CONTRIBUTIONS
total $160,933,972 · related or exempt $160,933,972
-
3 · Investment income
total $3,963,577 · unrelated business $3,963,577
-
7a · Gross sales of assets other than inventory
securities $26,602,054
-
7b · Less cost or other basis and sales expenses
securities $26,391,077
-
7c · Gain or loss
securities $210,977
-
7d · Net gain or loss
total $210,977 · unrelated business $210,977
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $131,214,867
-
11b · Fees: legal
total $10,345
-
11f · Fees: investment management
total $219,934
-
11g · Fees: other
total $6,354,523
-
24a · Other expenses: FEDERAL INCOME TAX
total $1,183,045
-
24b · Other expenses: STATE INCOME TAX
total $150,029
-
24c · Other expenses: MISCELLANEOUS EXPENSE
total $1,770
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $48,005 · end of year $750,470
-
2 · Savings and temporary cash investments
beginning of year $36,816,993 · end of year $36,878,722
-
4 · Accounts receivable
beginning of year $7,011,778 · end of year $3,806,418
-
11 · Investments: publicly traded securities
beginning of year $57,182,890 · end of year $84,302,042
-
17 · Accounts payable and accrued expenses
beginning of year $4,859,744 · end of year $179,670
-
25 · Other liabilities
beginning of year $19,481,742 · end of year $19,224,031
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $25,974,013
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $76,718,180 · end of year $80,359,938
Mission and programs · 2024
Mission
THE IBBP TRUST WAS ESTABLISHED TO PROVIDE GROUP HEALTH INSURANCE, GROUP LIFE INSURANCE, AND LONG-TERM AND SHORT-TERM DISABILITY INSURANCE COVERAGE TO SUBSTANTIALLY ALL EMPLOYEES OF PARTICIPATING EMPLOYERS.
Activities or mission (Part I)
PROVIDE HEALTH & WELFARE BENEFITS TO EMPLOYEES OF PARTICIPATING EMPLOYERS.
-
PROVISION OF HEALTH & WELFARE BENEFITS FOR EMPLOYEES OF PARTICIPATING EMPLOYERS.
As filed on the 2024 return.
Listed in Part VII
-
Brad BeckerBRAD BECKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David CoulterDAVID COULTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James Kennedy JrJAMES KENNEDY JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Joshua GuttauJOSHUA GUTTAU
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael UnderwoodMICHAEL UNDERWOOD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Paul WalzPAUL WALZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Sean NoonanSEAN NOONAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer HansonJENNIFER HANSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Chad EllsworthCHAD ELLSWORTH
CHIEF ADMIN OFFICER (IBIS)
- Total calculated
- $474,009
- From this org
- $0
- From related orgs
- $405,064
- Other
- $68,945
- Hours/week
- 5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $335,981 related
- Bonus
- $0 + $62,559 related
- Other
- $0 + $6,524 related
- Deferred
- $0 + $40,278 related
- Nontaxable benefits
- $0 + $28,667 related
- Filer's total
- $0 + $474,009 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
- THE ORGANIZATION RELIES UPON THE METHOD USED BY THE RELATED ORGANIZATION TO DETERMINE COMPENSATION.
- PART I, LINE 4B
- CHAD ELLSWORTH PARTICIPATED IN A NON-QUALIFIED PENSION RESTORATION PLAN AND RECEIVED NO PAYMENTS FROM THE PLAN DURING THE YEAR.
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.
-
BUILD - STATE FUND
527 · QSLPO · IA
-
BUILD - FEDERAL FUND
527 · PAC · IA
-
IOWA LEADERS IN EDUCATION AND ADVOCACY INC
501(C)(4) · SOCIAL WELFARE · IA
Directly controlled by IOWA BANKERS ASSOCIATION
-
501(C)(6) · PROMOTE BANKS · IA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
CONTRIBUTING EMPLOYERS (312)
N/A · N/A
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
IOWA BANKERS INSURANCE & SERVICES INC
C · SALES-INSURANCE & MARKETING · IA
-
MID AMERICA BANKERS INSURANCE SERVICES
C · INSURANCE · IA
-
IOWA BANKERS MORTGAGE CORPORATION
C · MORTGAGE BANKING · IA
-
CONTRIBUTING EMPLOYERS (312)
N/A · IA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 8 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202532819349300013
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