Civic Intelligence

Service Benefit Plan Administrative Services Sbp - Veba

990 • Fiscal year 2023 • EIN 74-3165262

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 02, 2024

Organization ProfileN/A
1501 S Clinton StreetBaltimore, MD 21224

(410) 998-5807

Siviq Scores

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

Liabilities / Assets

30th percentile

0.00x

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

2023 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

30th percentile

0.00x

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

2023 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2023

Net Margin

70th percentile

14%

Higher net margin than 70% of similar nonprofits.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

51st percentile

$1,823

Higher top officer pay than 51% of similar nonprofits.

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

2023 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2023

Asset Growth

35th percentile

1.1%

Faster asset growth than 35% of similar nonprofits.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

4th percentile

-59%

Faster revenue growth than 4% of similar nonprofits.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$9,320,628

Up $104,074 (+1.1%) from 2022

Net Assets

Up

$9,320,628

Up $104,074 (+1.1%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin70th percentile

Revenue

Down

$763,522

Down $1,100,275 (-59%) from 2022

Expenses

Down

$659,448

Down $871,858 (-57%) from 2022

Net Income

Down

$104,074

Down $228,417 (-69%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$15M$10M$5.0M$0Assets 2011: $5,343,607Liabilities 2011: $0Net Assets 2011: $5,343,6072011Assets 2012: $5,247,026Liabilities 2012: $0Net Assets 2012: $5,247,0262012Assets 2013: $5,853,675Liabilities 2013: $0Net Assets 2013: $5,853,6752013Assets 2014: $5,979,974Liabilities 2014: $0Net Assets 2014: $5,979,9742014Assets 2015: $6,027,088Liabilities 2015: $0Net Assets 2015: $6,027,0882015Assets 2016: $6,040,258Liabilities 2016: $0Net Assets 2016: $6,040,2582016Assets 2017: $6,360,050Liabilities 2017: $0Net Assets 2017: $6,360,0502017Assets 2018: $7,267,003Liabilities 2018: $0Net Assets 2018: $7,267,0032018Assets 2019: $7,356,799Liabilities 2019: $0Net Assets 2019: $7,356,7992019Assets 2020: $7,881,010Liabilities 2020: $0Net Assets 2020: $7,881,0102020Assets 2021: $8,884,063Liabilities 2021: $0Net Assets 2021: $8,884,0632021Assets 2022: $9,216,554Liabilities 2022: $0Net Assets 2022: $9,216,5542022Assets 2023: $9,320,628Liabilities 2023: $0Net Assets 2023: $9,320,6282023Assets 2024: $10,322,959Liabilities 2024: $0Net Assets 2024: $10,322,9592024

Highlighted filing

2023

Assets$9,320,628
Liabilities$0
Net Assets$9,320,628
Open 2023 Filing

Operations Trend

Revenue Growth4th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $456,477Expenses 2011: $83,822Net Income 2011: $372,6552011Revenue 2012: $533,818Expenses 2012: $630,399Net Income 2012: -$96,5812012Revenue 2013: $820,987Expenses 2013: $214,338Net Income 2013: $606,6492013Revenue 2014: $917,160Expenses 2014: $790,861Net Income 2014: $126,2992014Revenue 2015: $746,685Expenses 2015: $699,571Net Income 2015: $47,1142015Revenue 2016: $518,228Expenses 2016: $505,058Net Income 2016: $13,1702016Revenue 2017: $675,829Expenses 2017: $356,037Net Income 2017: $319,7922017Revenue 2018: $1,359,931Expenses 2018: $452,978Net Income 2018: $906,9532018Revenue 2019: $684,729Expenses 2019: $594,933Net Income 2019: $89,7962019Revenue 2020: $804,475Expenses 2020: $280,264Net Income 2020: $524,2112020Revenue 2021: $1,979,747Expenses 2021: $976,694Net Income 2021: $1,003,0532021Revenue 2022: $1,863,797Expenses 2022: $1,531,306Net Income 2022: $332,4912022Revenue 2023: $763,522Expenses 2023: $659,448Net Income 2023: $104,0742023Revenue 2024: $1,265,769Expenses 2024: $263,439Net Income 2024: $1,002,3302024

Highlighted filing

2023

Revenue$763,522
Expenses$659,448
Net Income$104,074
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 2, 2024
Return Version
2023v5.1
Gross Receipts
$763,522
Mission and Program Overview

Mission

The primary mission of the organization is to pay certain health insurance benefits to eligible retired employees of sbp and their eligible dependents and to provide a vehicle for the receipt of contributions made by sbp to meet the costs of providing these benefits.

The primary purpose of the organization is to pay certain health insurance benefits to eligible retired employees and their dependents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$9,216,554$9,320,628▲ $104,074
Cash and Non-Interest-Bearing Accounts$51,647$535,934▲ $484,287
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$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
Investments in Publicly Traded Securities$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$9,216,554$9,320,628▲ $104,074
Other Assets Total$9,164,907$8,784,694▼ $380,213
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$9,216,554$9,320,628▲ $104,074
Total Liabilities and Net Assets / Fund Balance$9,216,554$9,320,628▲ $104,074

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$8,784,694--
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleBaseTotal
State Street Bank TrustTrustee$1,823$1,823
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,347
Investment Income
$639,038
Other Revenue
$112,137
Change in Net Assets
$104,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$592,322
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$67,126--$67,126
Fees for Services Other-$29,748-$29,748
Other Expenses$10,067--$10,067
Fees for Services Accounting-$6,300-$6,300
Fees for Services Management$1,823--$1,823
Total Functional Expenses$623,400$36,048$0$659,448
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section B

“The VEBA does not pay compensation to any persons.”

Part VI, Section C

“Governing documents and financials are available for public inspection by contacting the Corporate Tax Department at CareFirst, Inc., 10455 Mill Run Circle, OM1-656, Owings Mills, MD 21117”

Filing and Contact Details

Filer

Filer Name
Service Benefit Plan Administrative Services
EIN
74-3165262
In Care Of
% CORPORATE TAX DEPARTMENT
Phone
4109985807
Address
1501 S CLINTON STREET, BALTIMORE, MD 21224

Signing Officer

Name
Brian Keefe
Title
SVP & CAO
Phone
4109985807
Signed
2024-10-02

Organization Details

Principal Officer
Brian Keefe
Formed
2005
Legal Domicile
Md
Voting Board Members
0
Independent Board Members
0
Employees
0
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 3

“The governing body of the VEBA is the trustee.”

Erroneous Transfer from Pension Reversed

“The Company identified that transfers were made from the pension plan in 2022 that should not have been made. The transfers were reversed and lost investment income was returned to the pension plan in 2023 All corrections were completed in 2023.”

Raw XML Appendix334 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/ActivityOrMissionDesc0The primary purpose of the organization is to pay certain health insurance benefits to eligible retired employees and their dependents.
IRS990/AdvertisingGrp/TotalAmt00
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IRS990/BooksInCareOfDetail/PhoneNum04109985807
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt010455 MILL RUN CIRCLE
IRS990/BooksInCareOfDetail/USAddress/CityNm0OWINGS MILLS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MD
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IRS990/CYTotalRevenueAmt0763522
IRS990/DAFExcessBusinessHoldingsInd0false
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IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt029748
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IRS990/ForeignActivitiesInd0false
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/PersonNm0STATE STREET BANK TRUST
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt01823
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IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/Form990TFiledInd0true
IRS990/FormationYr02005
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
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IRS990/FundraisingGrossIncomeAmt00
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IRS990/GamingActivitiesInd0false
IRS990/GamingDirectExpensesAmt00
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IRS990/GoverningBodyVotingMembersCnt00
IRS990/GrantsPayableGrp/BOYAmt00
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IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0763522
IRS990/GrossSalesOfInventoryAmt00
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt00
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartVInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/TotalAmt00
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IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0189011
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt0189011
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
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IRS990/InvestmentsPubTradedSecGrp/BOYAmt00
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IRS990/IRPDocumentCnt00
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
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IRS990/LegalDomicileStateCd0MD
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfGoverningBodyInd0false
IRS990/MissionDesc0THE PRIMARY MISSION OF THE ORGANIZATION IS TO PAY CERTAIN HEALTH INSURANCE BENEFITS TO ELIGIBLE RETIRED EMPLOYEES OF SBP AND THEIR ELIGIBLE DEPENDENTS AND TO PROVIDE A VEHICLE FOR THE RECEIPT OF CONTRIBUTIONS MADE BY SBP TO MEET THE COSTS OF PROVIDING THESE BENEFITS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
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IRS990/NetAssetsOrFundBalancesBOYAmt09216554
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MUTUAL FUNDS INVESTED IN FIDEL
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The governing body of the VEBA is the trustee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The VEBA does not pay compensation to any persons.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents and financials are available for public inspection by contacting the Corporate Tax Department at CareFirst, Inc., 10455 Mill Run Circle, OM1-656, Owings Mills, MD 21117
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Company identified that transfers were made from the pension plan in 2022 that should not have been made. The transfers were reversed and lost investment income was returned to the pension plan in 2023 All corrections were completed in 2023.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI, Section B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI, Section C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Erroneous Transfer from Pension Reversed
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt09216554
IRS990/TotalAssetsEOYAmt09320628
IRS990/TotalAssetsGrp/BOYAmt09216554
IRS990/TotalAssetsGrp/EOYAmt09320628
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036048
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0623400
IRS990/TotalFunctionalExpensesGrp/TotalAmt0659448
IRS990/TotalGrossUBIAmt0639038
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09216554
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09320628
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt012347
IRS990/TotalReportableCompFromOrgAmt01823
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0763522
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0639038
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09216554
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09320628
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt010455 Mill Run Circle
IRS990/USAddress/CityNm0Owings Mills
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021117
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Brian Keefe
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SVP & CAO
ReturnHeader/BusinessOfficerGrp/PhoneNum04109985807
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Service Benefit Plan Administrative Services
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0SBP - VEBA
ReturnHeader/Filer/BusinessNameControlTxt0SERV
ReturnHeader/Filer/EIN0743165262
ReturnHeader/Filer/InCareOfNm0% CORPORATE TAX DEPARTMENT
ReturnHeader/Filer/PhoneNum04109985807
ReturnHeader/Filer/USAddress/AddressLine1Txt01501 S CLINTON STREET
ReturnHeader/Filer/USAddress/CityNm0BALTIMORE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021224
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/ReturnTs02024-10-03T11:55:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,320,628
Liabilities
$0
Net assets
$9,320,628
Revenue
$763,522
Expenses
$659,448
Net income
$104,074
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$0.00$10.3$1.27$0.26$1.00
2023Detailed filing. Detailed filing data is available for this year.$9.32$0.00$9.32$0.76$0.66$0.10
2022Detailed filing. Detailed filing data is available for this year.$9.22$0.00$9.22$1.86$1.53$0.33
2021Detailed filing. Detailed filing data is available for this year.$8.88$0.00$8.88$1.98$0.98$1.00
2020Detailed filing. Detailed filing data is available for this year.$7.88$0.00$7.88$0.80$0.28$0.52
2019Summary only. Only limited summary data is available for this year.$7.36$0.00$7.36$0.68$0.59$0.09
2018Summary only. Only limited summary data is available for this year.$7.27$0.00$7.27$1.36$0.45$0.91
2017Summary only. Only limited summary data is available for this year.$6.36$0.00$6.36$0.68$0.36$0.32
2016Summary only. Only limited summary data is available for this year.$6.04$0.00$6.04$0.52$0.51$0.01
2015Summary only. Only limited summary data is available for this year.$6.03$0.00$6.03$0.75$0.70$0.05
2014Summary only. Only limited summary data is available for this year.$5.98$0.00$5.98$0.92$0.79$0.13
2013Summary only. Only limited summary data is available for this year.$5.85$0.00$5.85$0.82$0.21$0.61
2012Summary only. Only limited summary data is available for this year.$5.25$0.00$5.25$0.53$0.63$0.10
2011Summary only. Only limited summary data is available for this year.$5.34$0.00$5.34$0.46$0.08$0.37