Civic Intelligence

Ipalco Enterprises Inc Voluntary Employee Beneficiary Assoc Trust

990 • Fiscal year 2017 • EIN 35-1946825

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 28, 2018

Organization ProfileN/A

View Organization Page

4550 Middle Road Suite AColumbus, IN 47202-2369

(812) 378-9960

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.01x

Higher debt load relative to assets than 43% of similar nonprofits.

2017 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

65th percentile

0.10x

Higher debt load relative to revenue than 65% of similar nonprofits.

2017 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2017

Net Margin

15th percentile

-6.1%

Higher net margin than 15% of similar nonprofits.

2017 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

54th percentile

$40,000

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2017 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2017

Asset Growth

44th percentile

6.5%

Faster asset growth than 44% of similar nonprofits.

2017 filings • 501(c)9 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

14th percentile

-6.7%

Faster revenue growth than 14% of similar nonprofits.

2017 filings • 501(c)9 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$62,064,863

Up $3,784,004 (+6.5%) from 2016

Net Assets

Up

$61,453,802

Up $3,966,801 (+6.9%) from 2016

Liabilities

Down

$611,061

Down $182,797 (-23%) from 2016

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin15th percentile

Revenue

Down

$5,855,718

Down $420,217 (-6.7%) from 2016

Expenses

Down

$6,211,600

Down $479,454 (-7.2%) from 2016

Net Income

Up

-$355,882

Up $59,237 (+14%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$80M$60M$40M$20M$0Assets 2010: $72,168,854Liabilities 2010: $917,367Net Assets 2010: $71,251,4872010Assets 2011: $65,037,702Liabilities 2011: $619,292Net Assets 2011: $64,418,4102011Assets 2012: $66,085,602Liabilities 2012: $651,048Net Assets 2012: $65,434,5542012Assets 2013: $69,294,317Liabilities 2013: $920,272Net Assets 2013: $68,374,0452013Assets 2014: $66,579,224Liabilities 2014: $1,238,660Net Assets 2014: $65,340,5642014Assets 2015: $61,225,873Liabilities 2015: $1,241,671Net Assets 2015: $59,984,2022015Assets 2016: $58,280,859Liabilities 2016: $793,858Net Assets 2016: $57,487,0012016Assets 2017: $62,064,863Liabilities 2017: $611,061Net Assets 2017: $61,453,8022017Assets 2018: $54,337,187Liabilities 2018: $657,343Net Assets 2018: $53,679,8442018Assets 2019: $58,784,969Liabilities 2019: $508,368Net Assets 2019: $58,276,6012019Assets 2020: $61,847,448Liabilities 2020: $929,293Net Assets 2020: $60,918,1552020Assets 2021: $63,954,238Liabilities 2021: $575,272Net Assets 2021: $63,378,9662021Assets 2022: $48,084,701Liabilities 2022: $1,028,953Net Assets 2022: $47,055,7482022Assets 2023: $51,285,992Liabilities 2023: $199,202Net Assets 2023: $51,086,7902023Assets 2024: $54,038,004Liabilities 2024: $161,379Net Assets 2024: $53,876,6252024

Highlighted filing

2017

Assets$62,064,863
Liabilities$611,061
Net Assets$61,453,802
Open 2017 Filing

Operations Trend

Revenue Growth14th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $7,074,0682010Expenses 2011: $6,991,3712011Expenses 2012: $8,174,3822012Revenue 2013: $4,438,501Expenses 2013: $8,171,220Net Income 2013: -$3,732,7192013Revenue 2014: $4,666,513Expenses 2014: $7,295,409Net Income 2014: -$2,628,8962014Revenue 2015: $6,337,308Expenses 2015: $7,741,574Net Income 2015: -$1,404,2662015Revenue 2016: $6,275,935Expenses 2016: $6,691,054Net Income 2016: -$415,1192016Revenue 2017: $5,855,718Expenses 2017: $6,211,600Net Income 2017: -$355,8822017Revenue 2018: $4,916,573Expenses 2018: $5,857,201Net Income 2018: -$940,6282018Revenue 2019: $5,047,867Expenses 2019: $6,330,621Net Income 2019: -$1,282,7542019Revenue 2020: $7,621,815Expenses 2020: $6,007,619Net Income 2020: $1,614,1962020Revenue 2021: $6,244,548Expenses 2021: $5,109,410Net Income 2021: $1,135,1382021Revenue 2022: $5,227,402Expenses 2022: $5,369,624Net Income 2022: -$142,2222022Revenue 2023: $3,004,193Expenses 2023: $2,539,648Net Income 2023: $464,5452023Revenue 2024: $2,941,946Expenses 2024: $2,605,181Net Income 2024: $336,7652024

Highlighted filing

2017

Revenue$5,855,718
Expenses$6,211,600
Net Income-$355,882
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 28, 2018
Return Version
2017v2.3
Gross Receipts
$5,855,718
Mission and Program Overview

Mission

Provide post-retirement medical benefits to eligible retirees and their eligible dependents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$57,487,001$61,453,802▲ $3,966,801
Investments in Publicly Traded Securities$57,802,445$61,053,801▲ $3,251,356
Accounts Receivable$470,519$1,001,934▲ $531,415
Prepaid Expenses and Deferred Charges$5,280$5,280→ $0
Savings and Temporary Cash Investments$2,615$3,848▲ $1,233
Total Assets$58,280,859$62,064,863▲ $3,784,004
Liabilities
Other Liabilities$748,130$534,986▼ $213,144
Accounts Payable and Accrued Expenses$45,728$76,075▲ $30,347
Total Liabilities$793,858$611,061▼ $182,797
Net Assets / Fund Balance
Total Net Assets Fund Balance$57,487,001$61,453,802▲ $3,966,801
Total Liabilities and Net Assets / Fund Balance$58,280,859$62,064,863▲ $3,784,004
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Max CalifarCommittee ChPT$40,000$40,000
Stephen J PlunkettCommittee MePT$40,000$40,000
Stephen L MeyerCommittee SePT$40,000$40,000

Board Members and Trustees

NameTitle
Charissa AmbroseTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Dunn & Assoc Benefit AdministratorsClaims/eligib.4550 MIDDLE ROAD SUITE A, Columbus, IN 47202$355,598
Williams & Jensen PllcLegal Services701 8TH STREET NW SUITE 500, Washington, DC 20001$108,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,664,628
Investment Income
$191,090
Other Revenue
$0
Change in Net Assets
$-355,882

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,855,718
Revenue Not Reported on Form 990
$4,322,684
Total Revenue per Audited Statements
$10,178,402
Total Revenue per Form 990
$5,855,718
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$939,613
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$5,271,987--$5,271,987
Fees for Services Other$489,253--$489,253
Fees for Services Management$120,000--$120,000
Fees for Services Lobbying$108,000--$108,000
Fees for Service Investment Mgmnt Fees$99,633--$99,633
Insurance$45,880--$45,880
Fees for Services Legal$29,860--$29,860
Fees for Services Accounting$13,700--$13,700
Other Expenses$2,001--$2,001
All Other Expenses$1,025--$1,025
Total Functional Expenses$6,211,600$0$0$6,211,600

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,211,600
Total Expenses per Audited Statements$6,211,600
Total Expenses per Form 990$6,211,600
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
Benefit Claims Payable$534,986
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“National bank of indianapolis is the trustee of the plan and manages cash receipts and disbursements.”

Form 990, Page 6, Part VI, Line 11B

“Copy of form 990 provided to all members of governing body for review prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“No enforcement of conflict of interests policies have been required.”

Form 990, Page 6, Part VI, Line 15A

“Board compensation has been reviewed for comparability and reasonableness.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ipalco Enterprises Inc Voluntary
EIN
35-1946825
Phone
8123789960
Address
4550 MIDDLE ROAD SUITE A, COLUMBUS, IN 47202-2369

Signing Officer

Name
Max Califar
Title
Committee Chairman
Phone
8123789960
Signed
2018-08-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Max Califar
Formed
2000
Legal Domicile
In
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Horizon CPA Services Inc
Address
9745 RANDALL DR SUITE 140, INDIANAPOLIS, IN 46280-2944
Preparer
A Bradley Mares CPA
Phone
3176441468
Supplemental Narrative

Additional Explanations

Form 990

“Form 990, part ix, line 11d - lobbying expense: lobbying expenses incurred, if successful, would extend the lifespan of the trust and allow the plan to continue to provide benefits to the plan participants for a longer period of time.”

Raw XML Appendix325 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
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART IX, LINE 11D - LOBBYING EXPENSE: LOBBYING EXPENSES INCURRED, IF SUCCESSFUL, WOULD EXTEND THE LIFESPAN OF THE TRUST AND ALLOW THE PLAN TO CONTINUE TO PROVIDE BENEFITS TO THE PLAN PARTICIPANTS FOR A LONGER PERIOD OF TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NATIONAL BANK OF INDIANAPOLIS IS THE TRUSTEE OF THE PLAN AND MANAGES CASH RECEIPTS AND DISBURSEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPY OF FORM 990 PROVIDED TO ALL MEMBERS OF GOVERNING BODY FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO ENFORCEMENT OF CONFLICT OF INTERESTS POLICIES HAVE BEEN REQUIRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD COMPENSATION HAS BEEN REVIEWED FOR COMPARABILITY AND REASONABLENESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt058280859
IRS990/TotalAssetsEOYAmt062064863
IRS990/TotalAssetsGrp/BOYAmt058280859
IRS990/TotalAssetsGrp/EOYAmt062064863
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06211600
IRS990/TotalFunctionalExpensesGrp/TotalAmt06211600
IRS990/TotalGrossUBIAmt013
IRS990/TotalLiabilitiesBOYAmt0793858
IRS990/TotalLiabilitiesEOYAmt0611061
IRS990/TotalLiabilitiesGrp/BOYAmt0793858
IRS990/TotalLiabilitiesGrp/EOYAmt0611061
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt057487001
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt061453802
IRS990/TotalProgramServiceExpensesAmt06211600
IRS990/TotalProgramServiceRevenueAmt05664628
IRS990/TotalReportableCompFromOrgAmt0120000
IRS990/TotalRevenueGrp/ExclusionAmt03959668
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01896037
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05855718
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt058280859
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt062064863
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0COLUMBUS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047202
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MAX CALIFAR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COMMITTEE CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08123789960
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IPALCO ENTERPRISES INC VOLUNTARY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EMPLOYEE BENEFICIARY ASSOC TRUST
ReturnHeader/Filer/BusinessNameControlTxt0IPAL
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ReturnHeader/Filer/PhoneNum08123789960
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ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId073FEBA7905AB37EF9EE18DDCE3A87F8B099E9EBF
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-08-28
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:52:39
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0204287594
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HORIZON CPA SERVICES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09745 RANDALL DR SUITE 140
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0462802944
ReturnHeader/PreparerPersonGrp/PhoneNum03176441468
ReturnHeader/PreparerPersonGrp/PreparationDt02018-08-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0A BRADLEY MARES CPA
ReturnHeader/ReturnTs02018-08-28T14:52:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$62,064,863
Liabilities
$611,061
Net assets
$61,453,802
Revenue
$5,855,718
Expenses
$6,211,600
Net income
-$355,882
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.0$0.16$53.9$2.94$2.61$0.34
2023Detailed filing. Detailed filing data is available for this year.$51.3$0.20$51.1$3.00$2.54$0.46
2022Detailed filing. Detailed filing data is available for this year.$48.1$1.03$47.1$5.23$5.37$0.14
2021Detailed filing. Detailed filing data is available for this year.$64.0$0.58$63.4$6.24$5.11$1.14
2020Detailed filing. Detailed filing data is available for this year.$61.8$0.93$60.9$7.62$6.01$1.61
2019Detailed filing. Detailed filing data is available for this year.$58.8$0.51$58.3$5.05$6.33$1.28
2018Detailed filing. Detailed filing data is available for this year.$54.3$0.66$53.7$4.92$5.86$0.94
2017Detailed filing. Detailed filing data is available for this year.$62.1$0.61$61.5$5.86$6.21$0.36
2016Detailed filing. Detailed filing data is available for this year.$58.3$0.79$57.5$6.28$6.69$0.42
2015Detailed filing. Detailed filing data is available for this year.$61.2$1.24$60.0$6.34$7.74$1.40
2014Detailed filing. Detailed filing data is available for this year.$66.6$1.24$65.3$4.67$7.30$2.63
2013Detailed filing. Detailed filing data is available for this year.$69.3$0.92$68.4$4.44$8.17$3.73
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.1$0.65$65.4$8.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.0$0.62$64.4$6.99
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$72.2$0.92$71.3$7.07