Civic Intelligence

State Bankers Association Group Insurance Trust

EIN 47-6709961 • 501(c)9 • Glen Allen, VA

Profile

Veba trust for the virginia bankers association group welfare benefit plans

4490 Cox RdGlen Allen, VA 23060

n/A

Siviq Scores

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

Liabilities / Assets

45th percentile

0.01x

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

501(c)9 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

38th percentile

0.00x

Higher debt load relative to revenue than 38% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Net Margin

40th percentile

0.0%

Higher net margin than 40% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

57th percentile

$3,041

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Asset Growth

37th percentile

0.9%

Faster asset growth than 37% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-32%

Faster revenue growth than 7% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$41,185

Up $373 (+0.9%) from 2023

Liabilities

Down

$441

Down $21 (-4.5%) from 2023

Net Assets

Up

$40,744

Up $394 (+1.0%) from 2023

Operations
Liabilities / Revenue38th percentileNet Margin40th percentile

Revenue

Down

$5,023,421

Down $2,343,579 (-32%) from 2023

Expenses

Down

$5,023,027

Down $2,342,052 (-32%) from 2023

Net Income

Down

$394

Down $1,527 (-79%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth37th percentile

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

$60K$40K$20K$0Assets 2015: $8,980Liabilities 2015: $1,468Net Assets 2015: $7,5122015Assets 2016: $5,689Liabilities 2016: $1,514Net Assets 2016: $4,1752016Assets 2017: $12,847Liabilities 2017: $1,539Net Assets 2017: $11,3082017Assets 2018: $10,023Liabilities 2018: $506Net Assets 2018: $9,5172018Assets 2019: $21,548Liabilities 2019: $12,514Net Assets 2019: $9,0342019Assets 2020: $8,458Liabilities 2020: $520Net Assets 2020: $7,9382020Assets 2021: $24,398Liabilities 2021: $1,041Net Assets 2021: $23,3572021Assets 2022: $39,082Liabilities 2022: $653Net Assets 2022: $38,4292022Assets 2023: $40,812Liabilities 2023: $462Net Assets 2023: $40,3502023Assets 2024: $41,185Liabilities 2024: $441Net Assets 2024: $40,7442024

Highlighted filing

2024

Assets$41,185
Liabilities$441
Net Assets$40,744
Open 2024 Filing

Operations Trend

Revenue Growth7th percentile

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

$10M$5.0M$0-$5.0MRevenue 2015: $6,772,500Expenses 2015: $6,764,988Net Income 2015: $7,5122015Revenue 2016: $6,968,915Expenses 2016: $6,972,125Net Income 2016: -$3,2102016Revenue 2017: $6,582,342Expenses 2017: $6,585,064Net Income 2017: -$2,7222017Revenue 2018: $6,835,670Expenses 2018: $6,837,461Net Income 2018: -$1,7912018Revenue 2019: $7,186,740Expenses 2019: $7,187,223Net Income 2019: -$4832019Revenue 2020: $7,690,654Expenses 2020: $7,692,279Net Income 2020: -$1,6252020Revenue 2021: $8,112,417Expenses 2021: $8,096,998Net Income 2021: $15,4192021Revenue 2022: $7,062,495Expenses 2022: $7,047,422Net Income 2022: $15,0732022Revenue 2023: $7,367,000Expenses 2023: $7,365,079Net Income 2023: $1,9212023Revenue 2024: $5,023,421Expenses 2024: $5,023,027Net Income 2024: $3942024

Highlighted filing

2024

Revenue$5,023,421
Expenses$5,023,027
Net Income$394
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
$41,185
Liabilities
$441
Net assets
$40,744
Revenue
$5,023,421
Expenses
$5,023,027
Net income
$394
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.00$0.04$5.02$5.02$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$7.37$7.37$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$7.06$7.05$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$8.11$8.10$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$7.69$7.69$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.02$0.01$0.01$7.19$7.19$0.00
2018Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$6.84$6.84$0.00
2017Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$6.58$6.59$0.00
2016Summary only. Only limited summary data is available for this year.$0.01$0.00$0.00$6.97$6.97$0.00
2015Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$6.77$6.76$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 15, 2025
Return Version
2024v5.2
Gross Receipts
$5,023,421
Mission and Program Overview

Mission

Veba trust for the virginia bankers assocation group welfare benefit plans

Veba trust for the virginia bankers association group welfare benefit plans

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$39,578$41,129▲ $1,551
Cap Stk Tr Prin Current Funds$40,350$40,350→ $0
Rtn Earn Endowment Incm Other Fnds$0$394▲ $394
Accounts Receivable$1,234$56▼ $1,178
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$40,812$41,185▲ $373
Liabilities
Accounts Payable and Accrued Expenses$462$441▼ $21
Total Liabilities$462$441▼ $21
Net Assets / Fund Balance
Total Net Assets Fund Balance$40,350$40,744▲ $394
Total Liabilities and Net Assets / Fund Balance$40,812$41,185▲ $373
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleBaseTotal
-Trustee$3,041$3,041

Board Members and Trustees

NameTitle
John R CaldwellChairman
Barry C ElswickBoard Member
Brandon LoreyBoard Member
C Taylor QuickeBoard Member
Elizabeth T BealeBoard Member
James Hendricks JrBoard Member
Jeff CulverBoard Member
Lara E RamseyBoard Member
Melody D EmswilerBoard Member
Michelle R AustinBoard Member
Thomas F CherryBoard Member
W Mark NelsonBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,019,986
Investment Income
$3,435
Other Revenue
$0
Change in Net Assets
$394

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,020,380
Revenue Not Reported on Financial Statements
$3,041
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,020,380
Total Revenue per Form 990
$5,023,421
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,041
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$5,019,986
Current Officers, Directors, Trustees, and Key Employees---$3,041
Total Functional Expenses$0$0$0$5,023,027

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$5,023,027
Expenses per Audited Statements$5,019,986
Total Expenses per Audited Statements$5,019,986
Expenses Not Reported on Financial Statements$3,041
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
Governance and Compliance

Governance Checklist

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

“Form 990 is reviewed by the health and welfare committee of the vba benefits corporation's board of directors.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is distributed each year to the vba benefits corporation's board of directors.”

Form 990, Part VI, Section C, Line 19

“The organization does not make its governming documents, conflict of interest policy, or financial statements available to the public.”

Filing and Contact Details

Filer

Filer Name
State Bankers Association Group
EIN
47-6709961
Phone
8048194727
Address
4490 COX RD, GLEN ALLEN, VA 23060

Signing Officer

Name
Stacy Puckett
Title
Director
Phone
8048194727
Signed
2025-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Puckett
Formed
2015
Legal Domicile
Va
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Brown Edwards & Company Llp
Address
3906 ELECTRIC ROAD, ROANOKE, VA 24018
Preparer
Patrick Pittman
Phone
5403450936
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“There were no changes to this process from prior year.”

Financial Statement Notes

PART X, LINE 2:

“As evidenced by a tax determination letter dated november 23, 2016, the trust has received a favorable tax determination from the internal revenue service specifying that the trust is a voluntary employee's beneficiary association and a qualified trust under section 501(c)(9) of the internal revenue code and the trust is generally exempt from taxation under the provisions of section 501(a) and the tax statues of the commonwealth of virginia. Accordingly, the accompanying financial statements do not reflect a provision or liability for federal or state income taxes. To the extent the assets in the trust exceed statutory limits, the trust may be subject to tax on its unrelated business income. Management has determined that the trust does not have any material unrecognized tax benefits or obligations as of december 31, 2024, or 2023.”

Raw XML Appendix379 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/SupplementalInformationDetail/ExplanationTxt0AS EVIDENCED BY A TAX DETERMINATION LETTER DATED NOVEMBER 23, 2016, THE TRUST HAS RECEIVED A FAVORABLE TAX DETERMINATION FROM THE INTERNAL REVENUE SERVICE SPECIFYING THAT THE TRUST IS A VOLUNTARY EMPLOYEE'S BENEFICIARY ASSOCIATION AND A QUALIFIED TRUST UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE AND THE TRUST IS GENERALLY EXEMPT FROM TAXATION UNDER THE PROVISIONS OF SECTION 501(A) AND THE TAX STATUES OF THE COMMONWEALTH OF VIRGINIA. ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL OR STATE INCOME TAXES. TO THE EXTENT THE ASSETS IN THE TRUST EXCEED STATUTORY LIMITS, THE TRUST MAY BE SUBJECT TO TAX ON ITS UNRELATED BUSINESS INCOME. MANAGEMENT HAS DETERMINED THAT THE TRUST DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2024, OR 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt05023027
IRS990ScheduleD/TotalRevenuePerForm990Amt05023421
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05020380
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05019986
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE HEALTH AND WELFARE COMMITTEE OF THE VBA BENEFITS CORPORATION'S BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED EACH YEAR TO THE VBA BENEFITS CORPORATION'S BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT MAKE ITS GOVERNMING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE WERE NO CHANGES TO THIS PROCESS FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0VIRGINIA BANKERS ASSOCIATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0541741662
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0PROVIDE HEALTH AND WELFARE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0VBA BENEFITS CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt04490 COX ROAD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0GLEN ALLEN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd023060
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0VIRGINIA BANKERS ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0540417722
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0REPRESENTS BANKING INDUSTRY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt04490 COX ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0GLEN ALLEN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd023060
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt040812
IRS990/TotalAssetsEOYAmt041185
IRS990/TotalAssetsGrp/BOYAmt040812
IRS990/TotalAssetsGrp/EOYAmt041185
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt05023027
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0462
IRS990/TotalLiabilitiesEOYAmt0441
IRS990/TotalLiabilitiesGrp/BOYAmt0462
IRS990/TotalLiabilitiesGrp/EOYAmt0441
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt040350
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt040744
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt05019986
IRS990/TotalReportableCompFromOrgAmt03041
IRS990/TotalRevenueGrp/ExclusionAmt03435
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05019986
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05023421
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt040812
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt041185
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04490 COX ROAD
IRS990/USAddress/CityNm0GLEN ALLEN
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023060
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STACY PUCKETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08048194727
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-08-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0STATE BANKERS ASSOCIATION GROUP
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INSURANCE TRUST
ReturnHeader/Filer/BusinessNameControlTxt0STAT
ReturnHeader/Filer/EIN0476709961
ReturnHeader/Filer/PhoneNum08048194727
ReturnHeader/Filer/USAddress/AddressLine1Txt04490 COX RD
ReturnHeader/Filer/USAddress/CityNm0GLEN ALLEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023060
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0540504608
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BROWN EDWARDS & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03906 ELECTRIC ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ROANOKE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd024018
ReturnHeader/PreparerPersonGrp/PhoneNum05403450936
ReturnHeader/PreparerPersonGrp/PreparationDt02025-08-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PATRICK PITTMAN
ReturnHeader/ReturnTs02025-09-05T09:55:43-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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