Civic Intelligence

Logs Employee Benefit Trust

990 • Fiscal year 2021 • EIN 20-3642680

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

2121 Waukegan Road 300Bannockburn, IL 60015

(813) 319-5010

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

57th percentile

0.03x

Higher debt load relative to assets than 57% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

45th percentile

0.01x

Higher debt load relative to revenue than 45% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Net Margin

68th percentile

14%

Higher net margin than 68% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

98th percentile

$595,734

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 8.7% of source-year revenue.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Asset Growth

97th percentile

92%

Faster asset growth than 97% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

6th percentile

-34%

Faster revenue growth than 6% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,990,232

Up $955,488 (+92%) from 2020

Net Assets

Up

$1,928,231

Up $929,729 (+93%) from 2020

Liabilities

Up

$62,001

Up $25,759 (+71%) from 2020

Revenue

Down

$6,841,350

Down $3,501,458 (-34%) from 2020

Expenses

Down

$5,911,621

Down $4,376,702 (-43%) from 2020

Net Income

Up

$929,729

Up $875,244 (+1606%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2012: $1,842,173Liabilities 2012: $0Net Assets 2012: $1,842,1732012Assets 2013: $1,962,929Liabilities 2013: $122,769Net Assets 2013: $1,840,1602013Assets 2014: $1,287,022Liabilities 2014: $104,221Net Assets 2014: $1,182,8012014Assets 2015: $627,230Liabilities 2015: $174,886Net Assets 2015: $452,3442015Assets 2016: $3,125,029Liabilities 2016: $143,082Net Assets 2016: $2,981,9472016Assets 2017: $4,179,086Liabilities 2017: $212,456Net Assets 2017: $3,966,6302017Assets 2018: $1,787,780Liabilities 2018: $123,646Net Assets 2018: $1,664,1342018Assets 2019: $1,011,814Liabilities 2019: $84,685Net Assets 2019: $927,1292019Assets 2020: $1,034,744Liabilities 2020: $36,242Net Assets 2020: $998,5022020Assets 2021: $1,990,232Liabilities 2021: $62,001Net Assets 2021: $1,928,2312021Assets 2022: $2,946,814Liabilities 2022: $190,528Net Assets 2022: $2,756,2862022Assets 2023: $4,189,135Liabilities 2023: $227,125Net Assets 2023: $3,962,0102023Assets 2024: $1,292,883Liabilities 2024: $169,959Net Assets 2024: $1,122,9242024

Highlighted filing

2021

Assets$1,990,232
Liabilities$62,001
Net Assets$1,928,231

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2012: $8,510,688Expenses 2012: $10,337,319Net Income 2012: -$1,826,6312012Revenue 2013: $10,678,650Expenses 2013: $10,926,157Net Income 2013: -$247,5072013Revenue 2014: $10,480,327Expenses 2014: $11,137,686Net Income 2014: -$657,3592014Revenue 2015: $10,721,926Expenses 2015: $11,452,383Net Income 2015: -$730,4572015Revenue 2016: $13,833,095Expenses 2016: $11,303,492Net Income 2016: $2,529,6032016Revenue 2017: $13,006,646Expenses 2017: $12,021,963Net Income 2017: $984,6832017Revenue 2018: $10,700,224Expenses 2018: $12,950,437Net Income 2018: -$2,250,2132018Revenue 2019: $12,090,879Expenses 2019: $12,860,602Net Income 2019: -$769,7232019Revenue 2020: $10,342,808Expenses 2020: $10,288,323Net Income 2020: $54,4852020Revenue 2021: $6,841,350Expenses 2021: $5,911,621Net Income 2021: $929,7292021Revenue 2022: $7,900,205Expenses 2022: $6,849,770Net Income 2022: $1,050,4352022Revenue 2023: $8,890,671Expenses 2023: $7,982,739Net Income 2023: $907,9322023Revenue 2024: $4,131,928Expenses 2024: $7,325,846Net Income 2024: -$3,193,9182024

Highlighted filing

2021

Revenue$6,841,350
Expenses$5,911,621
Net Income$929,729
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$6,841,350
Mission and Program Overview

Mission

The fund was created for the purpose of accumulating contributions made by the employees and their employer pursuant to the provisions of the underlying health plan and any contributions made by employees and their employer pursuant to a plan in order to provide welfare benefits for employees and beneficiaries as defined in the plan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$698,252$1,867,554▲ $1,169,302
Savings and Temporary Cash Investments$12,601$0▼ $12,601
Total Assets$1,034,744$1,990,232▲ $955,488
Other Assets Total$323,891$122,678▼ $201,213
Liabilities
Other Liabilities$19,000$38,257▲ $19,257
Accounts Payable and Accrued Expenses$17,242$23,744▲ $6,502
Total Liabilities$36,242$62,001▲ $25,759
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$998,502$1,928,231▲ $929,729
Total Net Assets Fund Balance$998,502$1,928,231▲ $929,729
Total Liabilities and Net Assets / Fund Balance$1,034,744$1,990,232▲ $955,488

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$17,870--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Gerald ShapiroChairmanFT$55,674$55,674
David KreismanVice ChairmanFT$47,816$47,816

Board Members and Trustees

NameTitle
Jason ShapiroPresident
Ilene CooperVice President
Jacqueline ComeauCCO
Mark CareyCFO
Christopher PhillipsCLO
Kay SchinkerCOO
Jamie ZelvinGeneral Counsel
Christopher DenardoManaging Partner
Grady InglePartner
Kirk SchwartzPartner
Ronald GacheRegional Partner
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,505,789
Investment Income
$0
Other Revenue
$1,335,561
Change in Net Assets
$929,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,150,140
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
Benefits to Members---$4,761,481
Other Expenses---$355,609
All Other Expenses---$28,617
Total Functional Expenses$0$0$0$5,911,621
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
Stop Loss Premiums Payable$38,257
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 Organization's CFO and EVP, Human Resources were closely involved in the preparation of Form 990. Form 990 was reviewed by the CFO and EVP, Human Resources and it was distributed to the trustees prior to its submission.

Form 990, Part VI, Section B, line 15

The compensation for the President was paid by a related organization which uses compensation surveys and other data to determine compensation, which is then approved by the Board.

Form 990, Part VI, Section C, line 19

The governing documents and financial statements are available upon request for the same period of disclosure as set forth in IRC Section 6104(d).

Filing and Contact Details

Filer

Filer Name
LOGS Employee Benefit Trust
EIN
20-3642680
Phone
8133195010
Address
2121 Waukegan Road 300, Bannockburn, IL 60015

Signing Officer

Name
Mark Carey
Title
CFO
Phone
8472919100
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Carey
Formed
2005
Legal Domicile
Il
Voting Board Members
2
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Rsm US Llp
Address
30 S Wacker Drive Ste 3300, Chicago, IL 60606
Preparer
Rebekuh Eley
Phone
3126343400
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