Civic Intelligence

First Community Bankshares Inc

EIN 54-1957458 • 501(c)9 • Bluefield, VA

Profile

NONE

PO Box 989Bluefield, VA 24605

n/A

Siviq Scores

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

Liabilities / Assets

31st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

38th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

24th percentile

-5.6%

Higher net margin than 24% of similar nonprofits.

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

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

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

Asset Growth

13th percentile

-47%

Faster asset growth than 13% of similar nonprofits.

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

Revenue Growth

14th percentile

-14%

Faster revenue growth than 14% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$364,507

Down $326,465 (-47%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$364,507

Down $326,465 (-47%) from 2023

Operations
Liabilities / Revenue38th percentileNet Margin24th percentile

Revenue

Down

$5,821,783

Down $938,800 (-14%) from 2023

Expenses

Down

$6,148,248

Down $483,833 (-7.3%) from 2023

Net Income

Down

-$326,465

Down $454,967 (-354%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth13th percentile

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

$1.0M$500K$0Assets 2011: $301,576Liabilities 2011: $0Net Assets 2011: $301,5762011Assets 2012: $801,109Liabilities 2012: $0Net Assets 2012: $801,1092012Assets 2013: $857,644Liabilities 2013: $69,820Net Assets 2013: $787,8242013Assets 2014: $804,479Liabilities 2014: $0Net Assets 2014: $804,4792014Assets 2015: $331,038Liabilities 2015: $0Net Assets 2015: $331,0382015Assets 2016: $463,375Liabilities 2016: $0Net Assets 2016: $463,3752016Assets 2017: $570,371Liabilities 2017: $0Net Assets 2017: $570,3712017Assets 2018: $85,533Liabilities 2018: $0Net Assets 2018: $85,5332018Assets 2019: $159,055Liabilities 2019: $0Net Assets 2019: $159,0552019Assets 2020: $21,434Liabilities 2020: $0Net Assets 2020: $21,4342020Assets 2021: $306,572Liabilities 2021: $0Net Assets 2021: $306,5722021Assets 2022: $482,181Liabilities 2022: $0Net Assets 2022: $482,1812022Assets 2023: $690,972Liabilities 2023: $0Net Assets 2023: $690,9722023Assets 2024: $364,507Liabilities 2024: $0Net Assets 2024: $364,5072024

Highlighted filing

2024

Assets$364,507
Liabilities$0
Net Assets$364,507
Open 2024 Filing

Operations Trend

Revenue Growth14th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $5,112,123Expenses 2011: $5,421,528Net Income 2011: -$309,4052011Revenue 2012: $4,246,989Expenses 2012: $3,747,456Net Income 2012: $499,5332012Revenue 2013: $6,359,293Expenses 2013: $6,372,578Net Income 2013: -$13,2852013Revenue 2014: $4,491,188Expenses 2014: $4,474,533Net Income 2014: $16,6552014Revenue 2015: $4,982,165Expenses 2015: $5,455,606Net Income 2015: -$473,4412015Revenue 2016: $5,127,656Expenses 2016: $4,995,319Net Income 2016: $132,3372016Revenue 2017: $4,886,469Expenses 2017: $4,779,473Net Income 2017: $106,9962017Revenue 2018: $5,793,112Expenses 2018: $6,277,950Net Income 2018: -$484,8382018Revenue 2019: $5,698,192Expenses 2019: $5,624,670Net Income 2019: $73,5222019Revenue 2020: $6,691,886Expenses 2020: $6,829,507Net Income 2020: -$137,6212020Revenue 2021: $5,913,183Expenses 2021: $5,628,045Net Income 2021: $285,1382021Revenue 2022: $5,786,351Expenses 2022: $5,928,520Net Income 2022: -$142,1692022Revenue 2023: $6,760,583Expenses 2023: $6,632,081Net Income 2023: $128,5022023Revenue 2024: $5,821,783Expenses 2024: $6,148,248Net Income 2024: -$326,4652024

Highlighted filing

2024

Revenue$5,821,783
Expenses$6,148,248
Net Income-$326,465
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
$364,507
Liabilities
$0
Net assets
$364,507
Revenue
$5,821,783
Expenses
$6,148,248
Net income
-$326,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.00$0.36$5.82$6.15$0.33
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.00$0.69$6.76$6.63$0.13
2022Detailed filing. Detailed filing data is available for this year.$0.48$0.00$0.48$5.79$5.93$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.31$0.00$0.31$5.91$5.63$0.29
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.02$0.00$0.02$6.69$6.83$0.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$0.00$0.16$5.70$5.62$0.07
2018Summary only. Only limited summary data is available for this year.$0.09$0.00$0.09$5.79$6.28$0.48
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.00$0.57$4.89$4.78$0.11
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.00$0.46$5.13$5.00$0.13
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.00$0.33$4.98$5.46$0.47
2014Detailed filing. Detailed filing data is available for this year.$0.80$0.00$0.80$4.49$4.47$0.02
2013Summary only. Only limited summary data is available for this year.$0.86$0.07$0.79$6.36$6.37$0.01
2012Summary only. Only limited summary data is available for this year.$0.80$0.00$0.80$4.25$3.75$0.50
2011Summary only. Only limited summary data is available for this year.$0.30$0.00$0.30$5.11$5.42$0.31
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$5,821,783
Mission and Program Overview

Mission

To provide payment of medical, dental, vision, and cancer benefits.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$690,972$364,507▼ $326,465
Savings and Temporary Cash Investments$365,289$145,985▼ $219,304
Prepaid Expenses and Deferred Charges-$95,216-
Cash and Non-Interest-Bearing Accounts$216,760$71,398▼ $145,362
Accounts Receivable$108,923$51,908▼ $57,015
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$690,972$364,507▼ $326,465
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$690,972$364,507▼ $326,465
Total Liabilities and Net Assets / Fund Balance$690,972$364,507▼ $326,465
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
-Trustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,791,931
Investment Income
$29,852
Other Revenue
$0
Change in Net Assets
$-326,465

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,057,530
Revenue Not Reported on Financial Statements
$764,253
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$764,253
Total Revenue per Audited Statements
$5,057,530
Total Revenue per Form 990
$5,821,783
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,188,863
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---$4,959,385
Other Expenses---$108,055
Total Functional Expenses$0$0$0$6,148,248

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$6,148,248
Expenses per Audited Statements$5,383,995
Total Expenses per Audited Statements$5,383,995
Expenses Not Reported on Financial Statements$764,253
Other Expense Adjustments$764,253
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
Audit committee
No
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 8B

“There are no committees with the auhority to act on behalf of the governing body.”

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

“The trust makes its form 990 available to board members prior to filing the return with the irs.”

Form 990, Part VI, Section C, Line 18

“Copies of the three most recent annual information returns along with the trust's exemption application and exemption letter are available and may be inspected upon request made in person or in writing received at first community bankshares, inc., corporate center, bluefield, va.”

Form 990, Part VI, Section C, Line 19

“The trust's governing documents, conflict of interest policy and the three most recent financial statements are available and may be inspected upon request made in person or in writing received at first community bankshares, inc., corporate center, bluefield, va.”

Filing and Contact Details

Filer

Filer Name
First Community Bankshares Inc
EIN
54-1957458
Phone
2763269000
Address
PO BOX 989, BLUEFIELD, VA 24605

Signing Officer

Name
David Brown
Title
CFO
Phone
2763269000
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Brown
Formed
1999
Legal Domicile
Va
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
1

Preparer

Firm
Crowe Llp
Address
225 WEST WACKER DRIVE SUITE 2600, CHICAGO, IL 60606-1224
Preparer
Jennifer Burke
Phone
3128997000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The veba trust established under the plan to hold the plan's assets obtained its latest determination letter on july 9, 2001, in which the internal revenue services ("irs") stated that the trust, as then defined, was in compliance with the applicable requirements of the internal revenue code ("irc"). However, as a result of the plan's funding policy, from time to time the trust may be subjected to income taxes. For the year ended december 31, 2023, the trust did pay unrelated business income tax of $4,274. In addition, the plan and trust are required to operate in conformity with the irc to maintain the tax-exempt status of the trust. The company believes that the trust continues to qualify and operate in accordance with applicable provisions of the irc, and therefore, believes that the related trust is tax-exempt. Gaap requires plan management to evaluate tax positions taken by the plan and recognize a tax liability (or asset) if the plan has taken an uncertain position that more likely than not would not be substantiated 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. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“STOP LOSS REIMBURSEMENTS”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“STOP LOSS REIMBURSEMENTS”

Raw XML Appendix296 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
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsReceivableGrp/BOYAmt0108923
IRS990/AccountsReceivableGrp/EOYAmt051908
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROVIDE PAYMENT OF MEDICAL, DENTAL, VISION, AND CANCER BENEFITS.
IRS990/AuditCommitteeInd00
IRS990/BenefitsToMembersGrp/TotalAmt04959385
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0FIRST COMMUNITY BANKSHARES INC
IRS990/BooksInCareOfDetail/PhoneNum02763269000
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 989
IRS990/BooksInCareOfDetail/USAddress/CityNm0BLUEFIELD
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd024605
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt0216760
IRS990/CashNonInterestBearingGrp/EOYAmt071398
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt04959385
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt029852
IRS990/CYOtherExpensesAmt01188863
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt05791931
IRS990/CYRevenuesLessExpensesAmt0-326465
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt06148248
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt05821783
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0TO PROVIDE PAYMENT OF MEDICAL, DENTAL, VISION, AND CANCER BENEFITS FOR THE PARTICIPANTS, DEPENDENTS, OR DESIGNATED BENEFICIARIES.
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt0FIRST COMMUNITY BANK NA
IRS990/Form990PartVIISectionAGrp/InstitutionalTrusteeInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01999
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt01
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt05821783
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt01
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt029852
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt029852
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE PAYMENT OF MEDICAL, DENTAL, VISION, AND CANCER BENEFITS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0690972
IRS990/NetAssetsOrFundBalancesEOYAmt0364507
IRS990/NetUnrelatedBusTxblIncmAmt027302
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0STOP LOSS INSURANCE
IRS990/OtherExpensesGrp/Desc1ADMINISTRATIVE EXPENSES
IRS990/OtherExpensesGrp/Desc2INSURANCE PREMIUMS
IRS990/OtherExpensesGrp/TotalAmt0780405
IRS990/OtherExpensesGrp/TotalAmt1300403
IRS990/OtherExpensesGrp/TotalAmt2108055
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt095216
IRS990/PrincipalOfficerNm0DAVID BROWN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0525100
IRS990/ProgramServiceRevenueGrp/BusinessCd1525100
IRS990/ProgramServiceRevenueGrp/Desc0EMPLOYEE/EMPLOYER CONT
IRS990/ProgramServiceRevenueGrp/Desc1STOP LOSS REIMBURSEMEN
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05027678
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1764253
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05027678
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1764253
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt05386100
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt018415
IRS990/PYOtherExpensesAmt01245981
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt06742168
IRS990/PYRevenuesLessExpensesAmt0128502
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt06632081
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06760583
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-326465
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0690972
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0364507
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0365289
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0145985
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0764253
IRS990ScheduleD/ExpensesSubtotalAmt05383995
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesNotIncludedAmt0764253
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0764253
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0764253
IRS990ScheduleD/RevenueSubtotalAmt05057530
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE VEBA TRUST ESTABLISHED UNDER THE PLAN TO HOLD THE PLAN'S ASSETS OBTAINED ITS LATEST DETERMINATION LETTER ON JULY 9, 2001, IN WHICH THE INTERNAL REVENUE SERVICES ("IRS") STATED THAT THE TRUST, AS THEN DEFINED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE ("IRC"). HOWEVER, AS A RESULT OF THE PLAN'S FUNDING POLICY, FROM TIME TO TIME THE TRUST MAY BE SUBJECTED TO INCOME TAXES. FOR THE YEAR ENDED DECEMBER 31, 2023, THE TRUST DID PAY UNRELATED BUSINESS INCOME TAX OF $4,274. IN ADDITION, THE PLAN AND TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE COMPANY BELIEVES THAT THE TRUST CONTINUES TO QUALIFY AND OPERATE IN ACCORDANCE WITH APPLICABLE PROVISIONS OF THE IRC, AND THEREFORE, BELIEVES THAT THE RELATED TRUST IS TAX-EXEMPT. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUBSTANTIATED 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. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1STOP LOSS REIMBURSEMENTS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2STOP LOSS REIMBURSEMENTS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt06148248
IRS990ScheduleD/TotalRevenuePerForm990Amt05821783
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05057530
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05383995
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH THE AUHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TRUST MAKES ITS FORM 990 AVAILABLE TO BOARD MEMBERS PRIOR TO FILING THE RETURN WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES OF THE THREE MOST RECENT ANNUAL INFORMATION RETURNS ALONG WITH THE TRUST'S EXEMPTION APPLICATION AND EXEMPTION LETTER ARE AVAILABLE AND MAY BE INSPECTED UPON REQUEST MADE IN PERSON OR IN WRITING RECEIVED AT FIRST COMMUNITY BANKSHARES, INC., CORPORATE CENTER, BLUEFIELD, VA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TRUST'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE THREE MOST RECENT FINANCIAL STATEMENTS ARE AVAILABLE AND MAY BE INSPECTED UPON REQUEST MADE IN PERSON OR IN WRITING RECEIVED AT FIRST COMMUNITY BANKSHARES, INC., CORPORATE CENTER, BLUEFIELD, VA.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0550694814
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0BANK
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0FIRST COMMUNITY BANKSHARES INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0PO BOX 989
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0BLUEFILED
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd024605
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0690972
IRS990/TotalAssetsEOYAmt0364507
IRS990/TotalAssetsGrp/BOYAmt0690972
IRS990/TotalAssetsGrp/EOYAmt0364507
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt06148248
IRS990/TotalGrossUBIAmt029852
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0690972
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0364507
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt05791931
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05791931
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05821783
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt029852
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0690972
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0364507
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 989
IRS990/USAddress/CityNm0BLUEFIELD
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd024605
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID BROWN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum02763269000
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST COMMUNITY BANKSHARES INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0WELFARE BENEFITS TRUST
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0541957458
ReturnHeader/Filer/PhoneNum02763269000
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 989
ReturnHeader/Filer/USAddress/CityNm0BLUEFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd024605
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0350921680
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CROWE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0225 WEST WACKER DRIVE SUITE 2600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0606061224
ReturnHeader/PreparerPersonGrp/PhoneNum03128997000
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNIFER BURKE
ReturnHeader/ReturnTs02025-11-15T17:49:36-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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