Civic Intelligence

Highmark Inc Voluntary Employees'Beneficiary

EIN 25-1726609 • 501(c)9 • Pittsburgh, PA

Profile

The establishment of an irrevocable 501(c)(9) trust to provide funding for medical and life benefits for eligible employees of the corporation and its subsidiaries.

120 Fifth Ave TAXPittsburgh, PA 15222

n/A

Siviq Scores

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

Liabilities / Assets

24th percentile

0.00x

Higher debt load relative to assets than 24% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

47th percentile

0.03x

Higher debt load relative to revenue than 47% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Source year 2024

Net Margin

1st percentile

-226%

Higher net margin than 1% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$103,429

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

501(c)9 • $100M-$250M nonprofits • Source year 2024

Asset Growth

23rd percentile

-2.4%

Faster asset growth than 23% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

92nd percentile

54%

Faster revenue growth than 92% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets24th percentile

Assets

Down

$247,101,441

Down $6,096,065 (-2.4%) from 2023

Liabilities

Down

$265,161

Down $23,660 (-8.2%) from 2023

Net Assets

Down

$246,836,280

Down $6,072,405 (-2.4%) from 2023

Operations
Liabilities / Revenue47th percentileNet Margin1st percentile

Revenue

Up

$8,854,252

Up $3,089,011 (+54%) from 2023

Expenses

Up

$28,872,869

Up $2,723,531 (+10%) from 2023

Net Income

Up

-$20,018,617

Up $365,480 (+1.8%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth23rd percentile

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

$400M$300M$200M$100M$0Assets 2020: $304,245,715Liabilities 2020: $3,730,221Net Assets 2020: $300,515,4942020Assets 2021: $298,084,249Liabilities 2021: $2,351,232Net Assets 2021: $295,733,0172021Assets 2022: $247,078,748Liabilities 2022: $575,946Net Assets 2022: $246,502,8022022Assets 2023: $253,197,506Liabilities 2023: $288,821Net Assets 2023: $252,908,6852023Assets 2024: $247,101,441Liabilities 2024: $265,161Net Assets 2024: $246,836,2802024

Highlighted filing

2024

Assets$247,101,441
Liabilities$265,161
Net Assets$246,836,280
Open 2024 Filing

Operations Trend

Revenue Growth92nd percentile

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

$40M$20M$0-$20M-$40MRevenue 2020: $22,200,910Expenses 2020: $29,845,245Net Income 2020: -$7,644,3352020Revenue 2021: $28,151,842Expenses 2021: $34,471,573Net Income 2021: -$6,319,7312021Revenue 2022: $7,074,014Expenses 2022: $28,108,304Net Income 2022: -$21,034,2902022Revenue 2023: $5,765,241Expenses 2023: $26,149,338Net Income 2023: -$20,384,0972023Revenue 2024: $8,854,252Expenses 2024: $28,872,869Net Income 2024: -$20,018,6172024

Highlighted filing

2024

Revenue$8,854,252
Expenses$28,872,869
Net Income-$20,018,617
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
$247,101,441
Liabilities
$265,161
Net assets
$246,836,280
Revenue
$8,854,252
Expenses
$28,872,869
Net income
-$20,018,617
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$247$0.27$247$8.85$28.9$20.0
2023Detailed filing. Detailed filing data is available for this year.$253$0.29$253$5.77$26.1$20.4
2022Detailed filing. Detailed filing data is available for this year.$247$0.58$247$7.07$28.1$21.0
2021Detailed filing. Detailed filing data is available for this year.$298$2.35$296$28.2$34.5$6.32
2020Detailed filing. Detailed filing data is available for this year.$304$3.73$301$22.2$29.8$7.64
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$52,368,903
Mission and Program Overview

Mission

The establishment of an irrevocable 501(c)(9) trust to provide funding for medical and life benefits for eligible employees of the corporation and its subsidiaries.

See Form 990, Page 2, Part III, Line 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$253,197,506$247,101,441▼ $6,096,065
Rtn Earn Endowment Incm Other Fnds$252,908,685$246,836,280▼ $6,072,405
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$253,197,506$247,101,441▼ $6,096,065
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$288,821$265,161▼ $23,660
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$288,821$265,161▼ $23,660
Net Assets / Fund Balance
Total Net Assets Fund Balance$252,908,685$246,836,280▼ $6,072,405
Total Liabilities and Net Assets / Fund Balance$253,197,506$247,101,441▼ $6,096,065

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$39,934,371--
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleBaseTotal
The Bank of New York MellonTrustee$103,429$103,429
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$397,722
Investment Income
$8,456,530
Other Revenue
$0
Change in Net Assets
$-20,018,617
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,392,588
Salaries, Compensation, and Employee Benefits$103,429
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$24,376,852--$24,376,852
Fees for Service Investment Mgmnt Fees-$486,238-$486,238
Other Expenses$218,700--$218,700
Current Officers, Directors, Trustees, and Key Employees$0$103,429$0$103,429
Fees for Services Legal$11,338$7,559-$18,897
Total Functional Expenses$28,275,643$597,226$0$28,872,869
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990 Part VI Section A Line 7A & 7B

“The Highmark Inc. Voluntary Employees' Beneficiary Association is an IRC section 501(C)(9)organization used to fund postretirement health benefits for participating retirees of Highmark Inc. The Highmark Inc. Board of Directors has the authority to appoint members and approve decisions of the organization's governing body. Form 990 Part VI Section B Line 11a & 11b The Highmark Inc. Voluntary Employees' Beneficiary Association form 990 filed with the IRS was discussed with a plan administrator (Highmark Inc. Assistant Treasurer). Form 990 Part VI Section B Line 12a, 12b & 12c The Highmark Inc. Voluntary Employees' Beneficiary Association HAS FOLLOWED AND ADHERED TO THE CONFLICT OF INTEREST POLICY AND ANNUAL COMPLIANCE DISCLOSURE FORMS AS REQUIRED BY THE HIGHMARK INC. PLAN ADMINISTRATORS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AND THE POLICY IS MONITORED AND ENFORCED. Form 990 Part VI Section B Line 13 The Highmark Inc. Voluntary Employees' Beneficiary Association HAS FOLLOWED AND ADHERED TO THE COMPLIANT REPORTING (WHISTLEBLOWER) POLICY OF HIGHMARK INC. POLICY IS MONITORED AND ENFORCED.”

Form 990 Part VI Section C Line 18

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Highmark Inc Voluntary Employees'
EIN
25-1726609
In Care Of
% HIGHMARK INC
Phone
4125441995
Address
120 Fifth Ave TAX, Pittsburgh, PA 15222

Signing Officer

Name
John Orner
Title
Assistant Treasurer
Phone
4125444113
Signed
2025-11-12

Organization Details

Principal Officer
John Orner
Formed
1998
Legal Domicile
Pa
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990 Part XI Line 9 Reconciliation of Net Assets

“Participant contributions, transfers and investment income $ 4,889,089”

Form 990 Part XII Line 2B Financial Statements and Reporting

“The Highmark Inc. Voluntary Employees' Beneficiary Association ENGAGED AN INDEPENDENT ACCOUNTANT TO AUDIT THE FINANCIAL STATEMENTS. A DISCLAIMER OPINION WAS ISSUED DUE TO CERTAIN AUDIT PROCEDURES NOT PERFORMED.”

Financial Statement Notes

Form 990, Schedule D, Supplemental Financial Statements

“Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The plan administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2024 and 2023, there are no uncertain positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the financial statements.”

From 990, Schedule D, Supplemental Financial Statements

“The following analysis represents the reconciliation between the financial statement net investment loss and the net investment loss as reported on Form 990: NET INVESTMENT INCOME (LOSS) PER FINANCIAL STATEMENT $10,298,343 PLUS: REALIZED INVESTMENT INCOME (LOSS) ADJUSTMENT (1,241,220) __________ NET INVESTMENT INCOME (LOSS) PER FORM 990 $9,057,123”

Raw XML AppendixShowing 400 of 416 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.

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IRS990ScheduleD/OtherSecuritiesGrp/Desc0EQUITY SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc1US GOVERNMENT SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc2INTERNATIONAL SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc3REGISTERED INVESTMENT FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc4LAZARD EMERGING MARKETS FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc5CORPORATE DEBT SECURITIES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The plan administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2024 and 2023, there are no uncertain positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The following analysis represents the reconciliation between the financial statement net investment loss and the net investment loss as reported on Form 990: NET INVESTMENT INCOME (LOSS) PER FINANCIAL STATEMENT $10,298,343 PLUS: REALIZED INVESTMENT INCOME (LOSS) ADJUSTMENT (1,241,220) __________ NET INVESTMENT INCOME (LOSS) PER FORM 990 $9,057,123
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE D, SUPPLEMENTAL FINANCIAL STATEMENTS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1FROM 990, SCHEDULE D, SUPPLEMENTAL FINANCIAL STATEMENTS
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IRS990ScheduleD/TotalLiabilityAmt00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Highmark Inc. Voluntary Employees' Beneficiary Association is an IRC section 501(C)(9)organization used to fund postretirement health benefits for participating retirees of Highmark Inc. The Highmark Inc. Board of Directors has the authority to appoint members and approve decisions of the organization's governing body. Form 990 Part VI Section B Line 11a & 11b The Highmark Inc. Voluntary Employees' Beneficiary Association form 990 filed with the IRS was discussed with a plan administrator (Highmark Inc. Assistant Treasurer). Form 990 Part VI Section B Line 12a, 12b & 12c The Highmark Inc. Voluntary Employees' Beneficiary Association HAS FOLLOWED AND ADHERED TO THE CONFLICT OF INTEREST POLICY AND ANNUAL COMPLIANCE DISCLOSURE FORMS AS REQUIRED BY THE HIGHMARK INC. PLAN ADMINISTRATORS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AND THE POLICY IS MONITORED AND ENFORCED. Form 990 Part VI Section B Line 13 The Highmark Inc. Voluntary Employees' Beneficiary Association HAS FOLLOWED AND ADHERED TO THE COMPLIANT REPORTING (WHISTLEBLOWER) POLICY OF HIGHMARK INC. POLICY IS MONITORED AND ENFORCED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PARTICIPANT CONTRIBUTIONS, TRANSFERS AND INVESTMENT INCOME $ 4,889,089
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Highmark Inc. Voluntary Employees' Beneficiary Association ENGAGED AN INDEPENDENT ACCOUNTANT TO AUDIT THE FINANCIAL STATEMENTS. A DISCLAIMER OPINION WAS ISSUED DUE TO CERTAIN AUDIT PROCEDURES NOT PERFORMED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 PART VI SECTION A LINE 7A & 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 PART VI SECTION C LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990 PART XI LINE 9 RECONCILIATION OF NET ASSETS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PART XII LINE 2B FINANCIAL STATEMENTS AND REPORTING
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Health Insura
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Highmark Inc
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0HIGHMARK HEALTH
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN ORNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0ASSISTANT TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04125444113
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-12

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