Civic Intelligence

Telephone and Data Systems Inc Employee Benefit Trust

990 • Fiscal year 2020 • EIN 36-3930160

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 20, 2023

Organization ProfileN/A

View Organization Page

525 Junction RoadMadison, WI 53717

(608) 664-8600

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.21x

Higher debt load relative to assets than 73% of similar nonprofits.

2020 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

53rd percentile

0.07x

Higher debt load relative to revenue than 53% of similar nonprofits.

2020 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2020

Net Margin

52nd percentile

4.3%

Higher net margin than 52% of similar nonprofits.

2020 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets73rd percentile

Assets

$39,968,276

No earlier filing loaded for comparison.

Net Assets

$31,703,436

No earlier filing loaded for comparison.

Liabilities

$8,264,840

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin52nd percentile

Revenue

$115,061,706

No earlier filing loaded for comparison.

Expenses

$110,089,546

No earlier filing loaded for comparison.

Net Income

$4,972,160

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$40M$30M$20M$10M$0Assets 2020: $39,968,276Liabilities 2020: $8,264,840Net Assets 2020: $31,703,4362020Assets 2021: $30,805,922Liabilities 2021: $9,830,977Net Assets 2021: $20,974,9452021Assets 2022: $15,307,674Liabilities 2022: $5,431,713Net Assets 2022: $9,875,9612022Assets 2023: $14,810,238Liabilities 2023: $9,173,236Net Assets 2023: $5,637,0022023Assets 2024: $13,097,672Liabilities 2024: $11,793,425Net Assets 2024: $1,304,2472024

Highlighted filing

2020

Assets$39,968,276
Liabilities$8,264,840
Net Assets$31,703,436
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$150M$100M$50M$0-$50MRevenue 2020: $115,061,706Expenses 2020: $110,089,546Net Income 2020: $4,972,1602020Revenue 2021: $112,643,370Expenses 2021: $122,157,613Net Income 2021: -$9,514,2432021Revenue 2022: $114,764,855Expenses 2022: $128,714,293Net Income 2022: -$13,949,4382022Revenue 2023: $127,251,374Expenses 2023: $128,622,245Net Income 2023: -$1,370,8712023Revenue 2024: $125,479,750Expenses 2024: $127,805,050Net Income 2024: -$2,325,3002024

Highlighted filing

2020

Revenue$115,061,706
Expenses$110,089,546
Net Income$4,972,160
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 20, 2023
Return Version
2020v4.1
Gross Receipts
$115,745,061
Mission and Program Overview

Mission

To provide health and welfare group insurance coverage for participating employers and employees.

Receive contributions from employees & participating employers for health and welfare premiums to pay claims, premiums, and admin fees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$31,703,420$37,008,785▲ $5,305,365
Rtn Earn Endowment Incm Other Fnds$28,923,158$31,703,436▲ $2,780,278
Accounts Receivable$2,669,322$2,959,491▲ $290,169
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$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 Other Securities$0$0→ $0
Investments Program Related$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$34,372,742$39,968,276▲ $5,595,534
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$4,645,864$7,027,934▲ $2,382,070
Accounts Payable and Accrued Expenses$803,720$1,236,906▲ $433,186
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,449,584$8,264,840▲ $2,815,256
Net Assets / Fund Balance
Total Net Assets Fund Balance$28,923,158$31,703,436▲ $2,780,278
Total Liabilities and Net Assets / Fund Balance$34,372,742$39,968,276▲ $5,595,534
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
Daniel DewittImc Member
John ToomeyImc Member
Leroy T CarlsonImc Member
Michelle BrukwickiImc Member
Peter SeredaImc Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$114,689,690
Investment Income
$372,016
Other Revenue
$0
Change in Net Assets
$4,972,160
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,808,080
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---$105,281,466
Other Expenses---$57,060
Total Functional Expenses$0$0$0$110,089,546
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
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Incurred But Not Reported (ibnr)$7,027,934
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, LINE 1A:

“The company (tds) has appointed a committee, the investment management committee, comprised of 5 members who are listed in part vii, section a. The committee is a named fiduciary for the tds employee benefit trust and authorized to direct the trustee, northern trust.”

FORM 990, PART VI, LINE 11B:

“The form 990 is prepared by an external accounting firm and then reviewed by the parent company benefits and tax departments. A final review is performed by one member of the investment management committee who signs as the designated officer.”

FORM 990 PART VI, LINE 19:

“The tds employee benefits trust is subject to an annual external audit. The audit report, which includes the plan financial statements, is filed with the department of labor and is available to the public upon request. Additionally, the trust agreement, which is the governing document of the tds employee benefit trust, is filed with the irs and is available to the public upon request. The trust agreement also includes a conflict of interest section.”

Filing and Contact Details

Filer

Filer Name
Telephone and Data Systems Inc
EIN
36-3930160
In Care Of
% TELEPHONE AND DATA SYSTEMSI
Phone
6086648600
Address
525 JUNCTION ROAD, MADISON, WI 53717

Signing Officer

Name
Steve Carroll
Title
Designated Officer
Phone
6086648600
Signed
2023-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Carroll
Formed
1993
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Bdo USA
Address
ONE ERDMAN PLACE SUITE 404, MADISON, WI 53717
Preparer
Jake Cook
Phone
6088367500
Raw XML Appendix398 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COMPANY (TDS) HAS APPOINTED A COMMITTEE, THE INVESTMENT MANAGEMENT COMMITTEE, COMPRISED OF 5 MEMBERS WHO ARE LISTED IN PART VII, SECTION A. THE COMMITTEE IS A NAMED FIDUCIARY FOR THE TDS EMPLOYEE BENEFIT TRUST AND AUTHORIZED TO DIRECT THE TRUSTEE, NORTHERN TRUST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN EXTERNAL ACCOUNTING FIRM AND THEN REVIEWED BY THE PARENT COMPANY BENEFITS AND TAX DEPARTMENTS. A FINAL REVIEW IS PERFORMED BY ONE MEMBER OF THE INVESTMENT MANAGEMENT COMMITTEE WHO SIGNS AS THE DESIGNATED OFFICER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TDS EMPLOYEE BENEFITS TRUST IS SUBJECT TO AN ANNUAL EXTERNAL AUDIT. THE AUDIT REPORT, WHICH INCLUDES THE PLAN FINANCIAL STATEMENTS, IS FILED WITH THE DEPARTMENT OF LABOR AND IS AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, THE TRUST AGREEMENT, WHICH IS THE GOVERNING DOCUMENT OF THE TDS EMPLOYEE BENEFIT TRUST, IS FILED WITH THE IRS AND IS AVAILABLE TO THE PUBLIC UPON REQUEST. THE TRUST AGREEMENT ALSO INCLUDES A CONFLICT OF INTEREST SECTION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, LINE 1A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, LINE 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990 PART VI, LINE 19:
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0363669023
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C-CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0TELECOMMUNICATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0TELEPHONE AND DATA SYSTEMS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt030 N LASALLE ST
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0CHICAGO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd060602
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990ScheduleR/TransferToOtherOrgInd0false
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt034372742
IRS990/TotalAssetsEOYAmt039968276
IRS990/TotalAssetsGrp/BOYAmt034372742
IRS990/TotalAssetsGrp/EOYAmt039968276
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0110089546
IRS990/TotalGrossUBIAmt0372016
IRS990/TotalLiabilitiesBOYAmt05449584
IRS990/TotalLiabilitiesEOYAmt08264840
IRS990/TotalLiabilitiesGrp/BOYAmt05449584
IRS990/TotalLiabilitiesGrp/EOYAmt08264840
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt028923158
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt031703436
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0114689690
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0114689690
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0115061706
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0372016
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt034372742
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt039968276
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0525 JUNCTION ROAD
IRS990/USAddress/CityNm0MADISON
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053717
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEVE CARROLL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DESIGNATED OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum06086648600
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TELEPHONE AND DATA SYSTEMS INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EMPLOYEE BENEFIT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0TELE
ReturnHeader/Filer/EIN0363930160
ReturnHeader/Filer/InCareOfNm0% TELEPHONE AND DATA SYSTEMSI
ReturnHeader/Filer/PhoneNum06086648600
ReturnHeader/Filer/USAddress/AddressLine1Txt0525 JUNCTION ROAD
ReturnHeader/Filer/USAddress/CityNm0MADISON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053717
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BDO USA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE ERDMAN PLACE SUITE 404
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MADISON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd053717
ReturnHeader/PreparerPersonGrp/PhoneNum06088367500
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAKE COOK
ReturnHeader/ReturnTs02023-12-21T13:13:41-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0STEVE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CARROLL
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$39,968,276
Liabilities
$8,264,840
Net assets
$31,703,436
Revenue
$115,061,706
Expenses
$110,089,546
Net income
$4,972,160
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.1$11.8$1.30$125$128$2.33
2023Detailed filing. Detailed filing data is available for this year.$14.8$9.17$5.64$127$129$1.37
2022Detailed filing. Detailed filing data is available for this year.$15.3$5.43$9.88$115$129$13.9
2021Detailed filing. Detailed filing data is available for this year.$30.8$9.83$21.0$113$122$9.51
2020Detailed filing. Detailed filing data is available for this year.$40.0$8.26$31.7$115$110$4.97
Peer Organizations

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