Civic Intelligence

Massachusetts Banker Association Group Insurance Trust

EIN 04-2628271 • 501(c)9 • Boston, MA

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Profile

The trust is operated for the purpose of providing various types of insurance to member banks' employees at costs which are less than those obtainable on an individual bank basis.

200 State Street 701Boston, MA 02109

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

60th percentile

0.02x

Higher debt load relative to assets than 60% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

0.47x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2024

Net Margin

78th percentile

30%

Higher net margin than 78% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

40th percentile

-1.3%

Faster asset growth than 40% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

43rd percentile

1.5%

Faster revenue growth than 43% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$4,987,714

Down $66,837 (-1.3%) from 2023

Liabilities

Up

$81,210

Up $9,330 (+13%) from 2023

Net Assets

Down

$4,906,504

Down $76,167 (-1.5%) from 2023

Operations
Liabilities / Revenue93rd percentileNet Margin78th percentile

Revenue

Up

$172,130

Up $2,514 (+1.5%) from 2023

Expenses

Down

$120,278

Down $80,251 (-40%) from 2023

Net Income

Up

$51,852

Up $82,765 (+268%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth40th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2010: $476,067Liabilities 2010: $29,304Net Assets 2010: $446,7632010Assets 2011: $462,464Liabilities 2011: $29,396Net Assets 2011: $433,0682011Assets 2012: $465,960Liabilities 2012: $29,379Net Assets 2012: $436,5812012Assets 2013: $1,634,887Liabilities 2013: $36,767Net Assets 2013: $1,598,1202013Assets 2014: $2,679,213Liabilities 2014: $38,326Net Assets 2014: $2,640,8872014Assets 2015: $2,637,793Liabilities 2015: $38,698Net Assets 2015: $2,599,0952015Assets 2016: $2,637,939Liabilities 2016: $40,782Net Assets 2016: $2,597,1572016Assets 2017: $2,613,386Liabilities 2017: $32,182Net Assets 2017: $2,581,2042017Assets 2018: $4,585,436Liabilities 2018: $142,507Net Assets 2018: $4,442,9292018Assets 2019: $4,887,533Liabilities 2019: $63,648Net Assets 2019: $4,823,8852019Assets 2020: $4,712,024Liabilities 2020: $10,365Net Assets 2020: $4,701,6592020Assets 2021: $4,931,782Liabilities 2021: $16,594Net Assets 2021: $4,915,1882021Assets 2022: $5,036,501Liabilities 2022: $22,917Net Assets 2022: $5,013,5842022Assets 2023: $5,054,551Liabilities 2023: $71,880Net Assets 2023: $4,982,6712023Assets 2024: $4,987,714Liabilities 2024: $81,210Net Assets 2024: $4,906,5042024

Highlighted filing

2024

Assets$4,987,714
Liabilities$81,210
Net Assets$4,906,504
Open 2024 Filing

Operations Trend

Revenue Growth43rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $69,593Expenses 2010: $61,220Net Income 2010: $8,3732010Revenue 2011: $48,188Expenses 2011: $61,883Net Income 2011: -$13,6952011Revenue 2012: $60,426Expenses 2012: $56,913Net Income 2012: $3,5132012Revenue 2013: $1,385,276Expenses 2013: $223,737Net Income 2013: $1,161,5392013Revenue 2014: $1,145,702Expenses 2014: $102,935Net Income 2014: $1,042,7672014Revenue 2015: $61,964Expenses 2015: $103,756Net Income 2015: -$41,7922015Revenue 2016: $69,696Expenses 2016: $71,634Net Income 2016: -$1,9382016Revenue 2017: $65,770Expenses 2017: $81,723Net Income 2017: -$15,9532017Revenue 2018: $2,507,667Expenses 2018: $645,942Net Income 2018: $1,861,7252018Revenue 2019: $524,638Expenses 2019: $143,682Net Income 2019: $380,9562019Revenue 2020: $74,803Expenses 2020: $197,029Net Income 2020: -$122,2262020Revenue 2021: $348,414Expenses 2021: $134,885Net Income 2021: $213,5292021Revenue 2022: $176,489Expenses 2022: $78,093Net Income 2022: $98,3962022Revenue 2023: $169,616Expenses 2023: $200,529Net Income 2023: -$30,9132023Revenue 2024: $172,130Expenses 2024: $120,278Net Income 2024: $51,8522024

Highlighted filing

2024

Revenue$172,130
Expenses$120,278
Net Income$51,852
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$4,987,714
Liabilities
$81,210
Net assets
$4,906,504
Revenue
$172,130
Expenses
$120,278
Net income
$51,852
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.99$0.08$4.91$0.17$0.12$0.05
2023Detailed filing. Detailed filing data is available for this year.$5.05$0.07$4.98$0.17$0.20$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.04$0.02$5.01$0.18$0.08$0.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.93$0.02$4.92$0.35$0.13$0.21
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.71$0.01$4.70$0.07$0.20$0.12
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.89$0.06$4.82$0.52$0.14$0.38
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.59$0.14$4.44$2.51$0.65$1.86
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.61$0.03$2.58$0.07$0.08$0.02
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.64$0.04$2.60$0.07$0.07$0.00
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.64$0.04$2.60$0.06$0.10$0.04
2014Detailed filing. Detailed filing data is available for this year.$2.68$0.04$2.64$1.15$0.10$1.04
2013Detailed filing. Detailed filing data is available for this year.$1.63$0.04$1.60$1.39$0.22$1.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.03$0.44$0.06$0.06$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.03$0.43$0.05$0.06$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.03$0.45$0.07$0.06$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 7, 2025
Return Version
2024v5.2
Gross Receipts
$172,130
Mission and Program Overview

Mission

The trust is operated for the purpose of providing various types of insurance to member banks' employees at costs which are less than those obtainable on an individual bank basis.

The trust is operated for the purpose of providing various types of insurance to member banks' employees at costs which are less than those obtainable on an individual bank basis

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$4,982,671$4,906,504▼ $76,167
Investments in Publicly Traded Securities-$4,563,765-
Cash and Non-Interest-Bearing Accounts$4,748,808$390,994▼ $4,357,814
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$5,054,551$4,987,714▼ $66,837
Other Assets Total$305,743$32,955▼ $272,788
Liabilities
Other Liabilities$15,700$63,963▲ $48,263
Accounts Payable and Accrued Expenses$56,180$17,247▼ $38,933
Total Liabilities$71,880$81,210▲ $9,330
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,982,671$4,906,504▼ $76,167
Total Liabilities and Net Assets / Fund Balance$5,054,551$4,987,714▼ $66,837
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Brett DeanChairman/trustee
Cheryl CormanCo-chair/trustee
Kathleen MurphyTreasurer/trustee
Chuck LeachTrustee
James FerraraTrustee
Kara ClarkTrustee
Margaret SullivanTrustee
Maria VafiadesTrustee
Matthew BurkeTrustee
Michael R WheelerTrustee
Tanya DuncanEvp, Revenue & Strategy
William TsoulesSVP/CFO
Chad PookVP of Administration
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$52,962
Investment Income
$119,168
Other Revenue
$0
Change in Net Assets
$51,852

Audited Revenue Reconciliation

Revenue per Audited Statements
$172,130
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-128,020
Total Revenue per Audited Statements
$44,110
Total Revenue per Form 990
$172,130
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$120,278
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting---$24,870
Fees for Services Legal---$18,650
Other Expenses---$4,409
Fees for Service Investment Mgmnt Fees---$1,094
Total Functional Expenses$0$0$0$120,278

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$120,278
Total Expenses per Audited Statements$120,278
Total Expenses per Form 990$120,278
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$38,163
Income Taxes Payable$25,800
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 and audited financial statements will be distributed to the group insurance trust committee for review prior to filing with the irs. Audited financial statements are reviewed by the audit committee annually.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is reviewed and approved annually by the board and monitored/enforced as outlined by the policy should issues arise.”

Form 990, Part VI, Section B, Line 15

“The mba group insurance trust has no employees.”

Form 990, Part VI, Section C, Line 19

“The governing documents, financial statements and conflict of interest policy are available to the general public upon request.”

Filing and Contact Details

Filer

Filer Name
Massachusetts Banker Association
EIN
04-2628271
Phone
6175237595
Address
200 STATE STREET 701, BOSTON, MA 02109

Signing Officer

Name
Joseph T Colagiovanni
Title
SVP/CFO
Phone
6175237595
Signed
2025-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph T Colagiovanni
Formed
1953
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
13

Preparer

Firm
Wolf & Company Pc
Address
255 STATE STREET, BOSTON, MA 02109
Preparer
Karen S Ng
Phone
6174399700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“There was no change in the oversight process or selection process during the tax year 2024.”

Financial Statement Notes

PART X, LINE 2:

“The trust obtained its latest determination letter on february 16, 1977, in which the internal revenue service stated that the trust, as then designed, was in compliance with the applicable requirements of the internal revenue code. The trust was most recently amended effective january 1, 2014 as indicated in note 1 to the financial statements. Although the trust has been amended since receiving the determination letter, the plan administrator and the trust's tax counsel believe that the trust is currently designed and being operated in compliance with the applicable requirements of the internal revenue code and therefore believe that the trust is tax-exempt. The trust is a tax exempt organization as described in section 501(c)(9) of the internal revenue code, and is generally exempt from federal taxes pursuant to section 501(a) of the code. However, the trust is subject to federal and massachusetts income tax on unrelated taxable income generated from investments and realized capital gains. Tax positions taken or expected to be taken in the course of preparing the trust's tax returns, including the position that the trust qualifies as a tax exempt organization, are required to be evaluated to determine whether the tax positions are more-likely-than-not to be upheld under regulatory review. The trust does not have any uncertain tax positions at december 31, 2024 and 2023 which require disclosure or accrual. The trust is currently open to audit under applicable statutes of limitation by federal and state tax authorities for the years ended december 31, 2021 through 2024.”

Raw XML Appendix371 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt056180
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt017247
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE TRUST IS OPERATED FOR THE PURPOSE OF PROVIDING VARIOUS TYPES OF INSURANCE TO MEMBER BANKS' EMPLOYEES AT COSTS WHICH ARE LESS THAN THOSE OBTAINABLE ON AN INDIVIDUAL BANK BASIS
IRS990/AddressChangeInd0X
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0JOSEPH T COLAGIOVANNI
IRS990/BooksInCareOfDetail/PhoneNum06175023808
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0200 STATE STREET SUITE 701
IRS990/BooksInCareOfDetail/USAddress/CityNm0BOSTON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd002109
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt04982671
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt04906504
IRS990/CashNonInterestBearingGrp/BOYAmt04748808
IRS990/CashNonInterestBearingGrp/EOYAmt0390994
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0119168
IRS990/CYOtherExpensesAmt0120278
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt052962
IRS990/CYRevenuesLessExpensesAmt051852
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0120278
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0172130
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0PROVIDE INSURANCE COVERAGE TO MEMBER BANKS' EMPLOYEES
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/ExpenseAmt019855
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/TotalAmt024870
IRS990/FeesForServicesLegalGrp/TotalAmt018650
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt01094
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt111.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt121.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/PersonNm0CHERYL CORMAN
IRS990/Form990PartVIISectionAGrp/PersonNm1BRETT DEAN
IRS990/Form990PartVIISectionAGrp/PersonNm2CHUCK LEACH
IRS990/Form990PartVIISectionAGrp/PersonNm3KARA CLARK
IRS990/Form990PartVIISectionAGrp/PersonNm4MICHAEL R WHEELER
IRS990/Form990PartVIISectionAGrp/PersonNm5MARIA VAFIADES
IRS990/Form990PartVIISectionAGrp/PersonNm6MATTHEW BURKE
IRS990/Form990PartVIISectionAGrp/PersonNm7JAMES FERRARA
IRS990/Form990PartVIISectionAGrp/PersonNm8KATHLEEN MURPHY
IRS990/Form990PartVIISectionAGrp/PersonNm9MARGARET SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm10WILLIAM TSOULES
IRS990/Form990PartVIISectionAGrp/PersonNm11CHAD POOK
IRS990/Form990PartVIISectionAGrp/PersonNm12TANYA DUNCAN
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/TitleTxt0CO-CHAIR/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10SVP/CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP OF ADMINISTRATION
IRS990/Form990PartVIISectionAGrp/TitleTxt12EVP, REVENUE & STRATEGY
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01953
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt02100
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt010
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt02100
IRS990/GrossReceiptsAmt0172130
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0117068
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt0117068
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt04563765
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0MA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt00
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE TRUST IS OPERATED FOR THE PURPOSE OF PROVIDING VARIOUS TYPES OF INSURANCE TO MEMBER BANKS' EMPLOYEES AT COSTS WHICH ARE LESS THAN THOSE OBTAINABLE ON AN INDIVIDUAL BANK BASIS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt04982671
IRS990/NetAssetsOrFundBalancesEOYAmt04906504
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt02100
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt02100
IRS990/NetUnrelatedBusTxblIncmAmt0110289
IRS990/NetUnrlzdGainsLossesInvstAmt0-128020
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0305743
IRS990/OtherAssetsTotalGrp/EOYAmt032955
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0UBIT TAXES
IRS990/OtherExpensesGrp/Desc1PREMIUM EXPENSES
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSES
IRS990/OtherExpensesGrp/TotalAmt051400
IRS990/OtherExpensesGrp/TotalAmt119855
IRS990/OtherExpensesGrp/TotalAmt24409
IRS990/OtherLiabilitiesGrp/BOYAmt015700
IRS990/OtherLiabilitiesGrp/EOYAmt063963
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JOSEPH T COLAGIOVANNI
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0524298
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/Desc0RISK SHARING ARRANGEME
IRS990/ProgramServiceRevenueGrp/Desc1PREMIUM INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt033004
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt119958
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt033004
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt119958
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt070266
IRS990/PYOtherExpensesAmt0200529
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt099350
IRS990/PYRevenuesLessExpensesAmt0-30913
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0200529
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0169616
IRS990/ReconcilationRevenueExpnssAmt051852
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0120278
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-128020
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt025800
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt138163
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INCOME TAXES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO AFFILIATES
IRS990ScheduleD/RevenueNotReportedAmt0-128020
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0172130
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE TRUST OBTAINED ITS LATEST DETERMINATION LETTER ON FEBRUARY 16, 1977, IN WHICH THE INTERNAL REVENUE SERVICE STATED THAT THE TRUST, AS THEN DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE. THE TRUST WAS MOST RECENTLY AMENDED EFFECTIVE JANUARY 1, 2014 AS INDICATED IN NOTE 1 TO THE FINANCIAL STATEMENTS. ALTHOUGH THE TRUST HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER, THE PLAN ADMINISTRATOR AND THE TRUST'S TAX COUNSEL BELIEVE THAT THE TRUST IS CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE AND THEREFORE BELIEVE THAT THE TRUST IS TAX-EXEMPT. THE TRUST IS A TAX EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE, AND IS GENERALLY EXEMPT FROM FEDERAL TAXES PURSUANT TO SECTION 501(A) OF THE CODE. HOWEVER, THE TRUST IS SUBJECT TO FEDERAL AND MASSACHUSETTS INCOME TAX ON UNRELATED TAXABLE INCOME GENERATED FROM INVESTMENTS AND REALIZED CAPITAL GAINS. TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE TRUST'S TAX RETURNS, INCLUDING THE POSITION THAT THE TRUST QUALIFIES AS A TAX EXEMPT ORGANIZATION, ARE REQUIRED TO BE EVALUATED TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE-LIKELY-THAN-NOT TO BE UPHELD UNDER REGULATORY REVIEW. THE TRUST DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2024 AND 2023 WHICH REQUIRE DISCLOSURE OR ACCRUAL. THE TRUST IS CURRENTLY OPEN TO AUDIT UNDER APPLICABLE STATUTES OF LIMITATION BY FEDERAL AND STATE TAX AUTHORITIES FOR THE YEARS ENDED DECEMBER 31, 2021 THROUGH 2024.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0120278
IRS990ScheduleD/TotalLiabilityAmt063963
IRS990ScheduleD/TotalRevenuePerForm990Amt0172130
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt044110
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0120278
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 AND AUDITED FINANCIAL STATEMENTS WILL BE DISTRIBUTED TO THE GROUP INSURANCE TRUST COMMITTEE FOR REVIEW PRIOR TO FILING WITH THE IRS. AUDITED FINANCIAL STATEMENTS ARE REVIEWED BY THE AUDIT COMMITTEE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS REVIEWED AND APPROVED ANNUALLY BY THE BOARD AND MONITORED/ENFORCED AS OUTLINED BY THE POLICY SHOULD ISSUES ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MBA GROUP INSURANCE TRUST HAS NO EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR 2024.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05054551
IRS990/TotalAssetsEOYAmt04987714
IRS990/TotalAssetsGrp/BOYAmt05054551
IRS990/TotalAssetsGrp/EOYAmt04987714
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0120278
IRS990/TotalGrossUBIAmt0119168
IRS990/TotalLiabilitiesBOYAmt071880
IRS990/TotalLiabilitiesEOYAmt081210
IRS990/TotalLiabilitiesGrp/BOYAmt071880
IRS990/TotalLiabilitiesGrp/EOYAmt081210
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04982671
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04906504
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt019855
IRS990/TotalProgramServiceRevenueAmt052962
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt052962
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0172130
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0119168
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05054551
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04987714
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0200 STATE STREET SUITE 701
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002109
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSEPH T COLAGIOVANNI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SVP/CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum06175237595
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MASSACHUSETTS BANKER ASSOCIATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0GROUP INSURANCE TRUST
ReturnHeader/Filer/BusinessNameControlTxt0MASS
ReturnHeader/Filer/EIN0042628271
ReturnHeader/Filer/PhoneNum06175237595
ReturnHeader/Filer/USAddress/AddressLine1Txt0200 STATE STREET 701
ReturnHeader/Filer/USAddress/CityNm0BOSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002109
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042689883
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WOLF & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0255 STATE STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BOSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002109
ReturnHeader/PreparerPersonGrp/PhoneNum06174399700
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KAREN S NG
ReturnHeader/ReturnTs02025-10-08T08:41:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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