Civic Intelligence

Emcc Veba-Retiree Medical Benefits Master Trust

EIN 42-1487090 • 501(c)9 • Des Moines, IA

Profile

Provide health care and life insurance benefits to the qualified retirees of Employers Mutual Casualty Company, its subsidiaries, and qualified retirees of EMC National Life Company

717 Mulberry StreetDes Moines, IA 50309-3872

n/A

Siviq Scores

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

Liabilities / Assets

95th percentile

0.77x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)9 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

8.14x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)9 • $25M-$50M nonprofits • Source year 2024

Net Margin

57th percentile

8.2%

Higher net margin than 57% of similar nonprofits.

501(c)9 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

51st percentile

$7,821

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

501(c)9 • $25M-$50M nonprofits • Source year 2024

Asset Growth

31st percentile

2.2%

Faster asset growth than 31% of similar nonprofits.

501(c)9 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

-7.8%

Faster revenue growth than 15% of similar nonprofits.

501(c)9 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$42,907,970

Up $915,090 (+2.2%) from 2023

Liabilities

Down

$33,122,510

Down $1,991,416 (-5.7%) from 2023

Net Assets

Up

$9,785,460

Up $2,906,506 (+42%) from 2023

Revenue

Down

$4,069,737

Down $342,342 (-7.8%) from 2023

Expenses

Down

$3,735,234

Down $421,588 (-10%) from 2023

Net Income

Up

$334,503

Up $79,246 (+31%) from 2023

Trend Graphs

Balance Sheet Trend

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

$200M$100M$0-$100M-$200MAssets 2011: $53,621,044Liabilities 2011: $145,226,665Net Assets 2011: -$91,605,6212011Assets 2012: $57,972,211Liabilities 2012: $190,328,664Net Assets 2012: -$132,356,4532012Assets 2013: $67,481,435Liabilities 2013: $53,933,030Net Assets 2013: $13,548,4052013Assets 2014: $69,470,331Liabilities 2014: $58,238,486Net Assets 2014: $11,231,8452014Assets 2015: $66,694,790Liabilities 2015: $54,085,233Net Assets 2015: $12,609,5572015Assets 2016: $67,863,143Liabilities 2016: $58,653,796Net Assets 2016: $9,209,3472016Assets 2017: $75,675,642Liabilities 2017: $63,748,631Net Assets 2017: $11,927,0112017Assets 2018: $68,954,025Liabilities 2018: $55,723,259Net Assets 2018: $13,230,7662018Assets 2019: $79,226,664Liabilities 2019: $61,071,498Net Assets 2019: $18,155,1662019Assets 2020: $79,468,699Liabilities 2020: $44,312,424Net Assets 2020: $35,156,2752020Assets 2021: $53,556,297Liabilities 2021: $41,926,405Net Assets 2021: $11,629,8922021Assets 2022: $40,821,035Liabilities 2022: $35,316,619Net Assets 2022: $5,504,4162022Assets 2023: $41,992,880Liabilities 2023: $35,113,926Net Assets 2023: $6,878,9542023Assets 2024: $42,907,970Liabilities 2024: $33,122,510Net Assets 2024: $9,785,4602024

Highlighted filing

2024

Assets$42,907,970
Liabilities$33,122,510
Net Assets$9,785,460

Operations Trend

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

$40M$20M$0-$20M-$40MRevenue 2011: $9,200,868Expenses 2011: $3,887,105Net Income 2011: $5,313,7632011Revenue 2012: $8,845,248Expenses 2012: $5,350,946Net Income 2012: $3,494,3022012Revenue 2013: $14,031,150Expenses 2013: $6,620,505Net Income 2013: $7,410,6452013Revenue 2014: $7,712,303Expenses 2014: $6,097,969Net Income 2014: $1,614,3342014Revenue 2015: $737,313Expenses 2015: $2,470,382Net Income 2015: -$1,733,0692015Revenue 2016: $3,869,112Expenses 2016: $3,068,095Net Income 2016: $801,0172016Revenue 2017: $10,631,279Expenses 2017: $4,560,138Net Income 2017: $6,071,1412017Revenue 2018: -$3,311,567Expenses 2018: $1,890,674Net Income 2018: -$5,202,2412018Revenue 2019: $13,544,094Expenses 2019: $5,359,471Net Income 2019: $8,184,6232019Revenue 2020: $4,618,485Expenses 2020: $5,516,549Net Income 2020: -$898,0642020Revenue 2021: $6,705,492Expenses 2021: $29,911,665Net Income 2021: -$23,206,1732021Revenue 2022: $4,771,053Expenses 2022: $5,903,334Net Income 2022: -$1,132,2812022Revenue 2023: $4,412,079Expenses 2023: $4,156,822Net Income 2023: $255,2572023Revenue 2024: $4,069,737Expenses 2024: $3,735,234Net Income 2024: $334,5032024

Highlighted filing

2024

Revenue$4,069,737
Expenses$3,735,234
Net Income$334,503

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.9$33.1$9.79$4.07$3.74$0.33
2023Summary only. Only limited summary data is available for this year.$42.0$35.1$6.88$4.41$4.16$0.26
2022Summary only. Only limited summary data is available for this year.$40.8$35.3$5.50$4.77$5.90$1.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$53.6$41.9$11.6$6.71$29.9$23.2
2020Summary only. Only limited summary data is available for this year.$79.5$44.3$35.2$4.62$5.52$0.90
2019Summary only. Only limited summary data is available for this year.$79.2$61.1$18.2$13.5$5.36$8.18
2018Summary only. Only limited summary data is available for this year.$69.0$55.7$13.2$3.31$1.89$5.20
2017Summary only. Only limited summary data is available for this year.$75.7$63.7$11.9$10.6$4.56$6.07
2016Summary only. Only limited summary data is available for this year.$67.9$58.7$9.21$3.87$3.07$0.80
2015Summary only. Only limited summary data is available for this year.$66.7$54.1$12.6$0.74$2.47$1.73
2014Summary only. Only limited summary data is available for this year.$69.5$58.2$11.2$7.71$6.10$1.61
2013Summary only. Only limited summary data is available for this year.$67.5$53.9$13.5$14.0$6.62$7.41
2012Summary only. Only limited summary data is available for this year.$58.0$190$132$8.85$5.35$3.49
2011Summary only. Only limited summary data is available for this year.$53.6$145$91.6$9.20$3.89$5.31
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 3, 2025
Return Version
2024v5.2
Gross Receipts
$4,069,737
Mission and Program Overview

Mission

Provide health care and life insurance benefits to the qualified retirees of Employers Mutual Casualty Company, its subsidiaries, and qualified retirees of EMC National Life Company

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$25,050,476$25,644,329▲ $593,853
Cap Stk Tr Prin Current Funds$6,878,954$9,785,460▲ $2,906,506
Savings and Temporary Cash Investments$1,761,658$1,953,840▲ $192,182
Accounts Receivable$195,047$49,301▼ $145,746
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$41,992,880$42,907,970▲ $915,090
Other Assets Total$14,985,699$15,260,500▲ $274,801
Liabilities
Other Liabilities$35,099,717$33,088,223▼ $2,011,494
Accounts Payable and Accrued Expenses$14,209$34,287▲ $20,078
Total Liabilities$35,113,926$33,122,510▼ $1,991,416
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,878,954$9,785,460▲ $2,906,506
Total Liabilities and Net Assets / Fund Balance$41,992,880$42,907,970▲ $915,090

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$15,260,500--
Other Securities$25,644,329--
Compensation and Service Providers

Employees

NameTitleBaseTotal
-Institutional Trustee$7,821$7,821
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$4,069,737
Other Revenue
$0
Change in Net Assets
$334,503

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,069,737
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,069,737
Total Revenue per Form 990
$4,069,737
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,595,151
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$2,140,083--$2,140,083
Other Expenses-$7,821-$7,821
Total Functional Expenses$2,140,083$1,595,151$0$3,735,234

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,735,234
Total Expenses per Audited Statements$3,735,234
Total Expenses per Form 990$3,735,234
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
Post retirement benefit$28,686,898
Deferred income taxes$4,401,325
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, line 8A

There were not any meetings held or written actions taken

Form 990, Part VI, Section A, line 8B

There were not any meetings held or written actions taken

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

Form 990 is prepared by an Accountant II in the Tax Department and is reviewed by the Director of Tax.

Form 990, Part VI, Section C, line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Form 990, Part VII Contact Addresses for Officers, Directors, Etc

Bankers Trust Company - 665 Locust St, Des Moines, IA 50309.

Filing and Contact Details

Filer

Filer Name
EMCC Veba-Retiree Medical Benefits
EIN
42-1487090
Phone
5153452788
Address
717 Mulberry Street, Des Moines, IA 50309-3872

Signing Officer

Name
Ron Herman
Title
VP-Director of Tax
Phone
5153452788
Signed
2025-11-03

Organization Details

Principal Officer
Ron Herman
Formed
1998
Legal Domicile
Ia
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Decrease in postretirement benefit obligation-not reflected in Part IX exp 2572003.

Raw XML Appendix276 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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IRS990/BooksInCareOfDetail/PhoneNum05153452788
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0717 Mulberry St
IRS990/BooksInCareOfDetail/USAddress/CityNm0Des Moines
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IA
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IRS990/OtherExpensesGrp/Desc0Unrelated business inco
IRS990/OtherExpensesGrp/Desc1Insurance premiums
IRS990/OtherExpensesGrp/Desc2Administrative expenses
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0889596
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1608941
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IRS990/PoliticalCampaignActyInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0There were not any meetings held or written actions taken
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1There were not any meetings held or written actions taken
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 is prepared by an Accountant II in the Tax Department and is reviewed by the Director of Tax.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Bankers Trust Company - 665 Locust St, Des Moines, IA 50309.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Decrease in postretirement benefit obligation-not reflected in Part IX exp 2572003.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VII Contact Addresses for Officers, Directors, Etc
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, line 9:
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01180452
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt041992880
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt042907970
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0717 Mulberry St
IRS990/USAddress/CityNm0Des Moines
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd0503093872
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Ron Herman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP-Director of Tax
ReturnHeader/BusinessOfficerGrp/PhoneNum05153452788
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EMCC Veba-Retiree Medical Benefits
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Master Trust
ReturnHeader/Filer/BusinessNameControlTxt0EMCC
ReturnHeader/Filer/EIN0421487090
ReturnHeader/Filer/PhoneNum05153452788
ReturnHeader/Filer/USAddress/AddressLine1Txt0717 Mulberry Street
ReturnHeader/Filer/USAddress/CityNm0Des Moines
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd0503093872
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/ReturnTs02025-11-03T12:52:16-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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