Overview
What is South Dakota Bankers Benefit Plan Trust?
The South Dakota Bankers Benefit Plan Trust is a tax-exempt VEBA based in Pierre, South Dakota, with the address 109 Missouri Avenue. Established to provide group health insurance coverage to substantially all employees of participating employers, the primary mission of this trust is to ensure the payment of health benefits to its members. The organization operates as a voluntary employees' beneficiary association, and its primary purpose is to extend healthcare coverage to a significant number of employees in the participating organizations.
Is South Dakota Bankers Benefit Plan Trust legitimate?
South Dakota Bankers Benefit Plan Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. South Dakota Bankers Benefit Plan Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of South Dakota Bankers Benefit Plan Trust?
The South Dakota Bankers Benefit Plan Trust is a tax-exempt Voluntary Employees' Beneficiary Association (VEBA), with a primary focus on providing health benefits to its members. Established to ensure group health insurance coverage for substantially all employees of participating employers, the Trust aims to offer essential health benefits to a considerable number of employees within the organization. By providing group health insurance, the Trust strives to enhance the overall well-being and financial security of its members.
Who is the CEO of South Dakota Bankers Benefit Plan Trust?
David King is the Chairman of South Dakota Bankers Benefit Plan Trust.
What is the revenue of South Dakota Bankers Benefit Plan Trust?
South Dakota Bankers Benefit Plan Trust's revenue in 2022 was $19,894,999.
Who are the executives of South Dakota Bankers Benefit Plan Trust and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for South Dakota Bankers Benefit Plan Trust?
South Dakota Bankers Benefit Plan Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of South Dakota Bankers Benefit Plan Trust
The South Dakota Bankers Benefit Plan Trust, a tax-exempt IRC Section 501(C)(9) Voluntary Employees' Beneficiary Association (VEBA), is dedicated to providing health benefits to its members. Established with the primary goal of offering group health insurance coverage to substantially all employees of participating employers, the Trust aims to ensure access to essential healthcare services for a significant number of employees within the organization. By pooling resources and negotiating collective insurance rates, the South Dakota Bankers Benefit Plan Trust enables participating employers to offer comprehensive health coverage to their workforce, enhancing overall employee wellbeing and job satisfaction.
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Impact
October, 2024
The South Dakota Bankers Benefit Plan Trust plays a significant role in providing health benefits to employees of participating employers in the banking sector. By offering group health insurance coverage, it ensures that a large portion of the workforce has access to essential medical care, which can improve overall employee well-being and job satisfaction.
This initiative helps mitigate the financial burden of healthcare costs for both employees and employers, making it easier for institutions to retain talent and maintain a healthy workforce. Additionally, by pooling resources through a collective trust, the plan can often negotiate better rates and benefits than individual employers might secure on their own, enhancing the overall quality of benefits offered to employees.
In summary, the South Dakota Bankers Benefit Plan Trust significantly impacts the banking industry's employee health coverage landscape, fostering a healthier workforce and supporting the economic stability of participating institutions.
This information is meant to be a general summary of South Dakota Bankers Benefit Plan Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $117,268
- Program Service Revenue: $19,777,731
- Gross Receipts: $19,894,999
Assets and Liabilities:
- Total Assets: $9,798,535
- Total Liabilities: $2,267,613
- Net Assets: $7,530,922
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUM CONTRIBUTIONS
Revenue
$19,777,731
Organization Details
Founding Year
2014
Phone
(605) 660-2341Principal Officer
David King
Main Address
109 MISSOURI AVENUE, PIERRE, SD, 57501
NTEE Category
Code: Y43 - Mutual benefit
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