Civic Intelligence

Bcbsm Bargaining Unit Internal Health Benefit Trust

990 • Fiscal year 2021 • EIN 84-6869872

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

600 Lafayette East Mail Code 1801Detroit, MI 48226-2998

(313) 983-1633

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

Higher debt load relative to assets than 32% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2021

Liabilities / Revenue

62nd percentile

0.10x

Higher debt load relative to revenue than 62% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2021

Net Margin

2nd percentile

-132%

Higher net margin than 2% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2021

Asset Growth

28th percentile

2.2%

Faster asset growth than 28% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Revenue Growth

86th percentile

94%

Faster revenue growth than 86% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Assets

Up

$548,679,607

Up $11,836,676 (+2.2%) from 2020

Net Assets

Up

$547,867,614

Up $12,778,940 (+2.4%) from 2020

Liabilities

Down

$811,993

Down $942,264 (-54%) from 2020

Revenue

Up

$8,438,746

Up $4,082,364 (+94%) from 2020

Expenses

Up

$19,588,815

Up $4,617,830 (+31%) from 2020

Net Income

Down

-$11,150,069

Down $535,466 (-5.0%) from 2020

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2019: $541,582,836Liabilities 2019: $0Net Assets 2019: $541,582,8362019Assets 2020: $536,842,931Liabilities 2020: $1,754,257Net Assets 2020: $535,088,6742020Assets 2021: $548,679,607Liabilities 2021: $811,993Net Assets 2021: $547,867,6142021Assets 2022: $417,631,947Liabilities 2022: $1,999,630Net Assets 2022: $415,632,3172022Assets 2023: $423,292,608Liabilities 2023: $0Net Assets 2023: $423,292,6082023Assets 2024: $409,117,895Liabilities 2024: $3,276,031Net Assets 2024: $405,841,8642024

Highlighted filing

2021

Assets$548,679,607
Liabilities$811,993
Net Assets$547,867,614

Operations Trend

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

$600M$400M$200M$0-$200MRevenue 2019: $541,582,836Expenses 2019: $0Net Income 2019: $541,582,8362019Revenue 2020: $4,356,382Expenses 2020: $14,970,985Net Income 2020: -$10,614,6032020Revenue 2021: $8,438,746Expenses 2021: $19,588,815Net Income 2021: -$11,150,0692021Revenue 2022: -$15,598,847Expenses 2022: $17,432,243Net Income 2022: -$33,031,0902022Revenue 2023: -$12,129,760Expenses 2023: $47,226,304Net Income 2023: -$59,356,0642023Revenue 2024: -$10,616,094Expenses 2024: $50,350,510Net Income 2024: -$60,966,6042024

Highlighted filing

2021

Revenue$8,438,746
Expenses$19,588,815
Net Income-$11,150,069
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$377,946,365
Mission and Program Overview

Mission

The trust was created for the exclusive purpose of providing health benefits to eligible employees of blue cross blue shield of michigan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$535,088,674$547,867,614▲ $12,778,940
Investments Other Securities$319,382,828$307,213,647▼ $12,169,181
Investments in Publicly Traded Securities$214,807,129$238,822,604▲ $24,015,475
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$536,842,931$548,679,607▲ $11,836,676
Other Assets Total$2,652,974$2,643,356▼ $9,618
Liabilities
Other Liabilities$1,754,257$811,993▼ $942,264
Total Liabilities$1,754,257$811,993▼ $942,264
Net Assets / Fund Balance
Total Net Assets Fund Balance$535,088,674$547,867,614▲ $12,778,940
Total Liabilities and Net Assets / Fund Balance$536,842,931$548,679,607▲ $11,836,676

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$-3,516--
Compensation and Service Providers

Employees

NameTitleBaseTotal
-Trustee$275,681$275,681

Board Members and Trustees

NameTitle
Cathy GoheenAdministrative Committee Member
Jason PisarikAdministrative Committee Member
Laurie ParmelyAdministrative Committee Member
Paul MozakAdministrative Committee Member
Waymond HarrisAdministrative Committee Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$750,000
Investment Income
$7,688,746
Other Revenue
$0
Change in Net Assets
$-11,150,069
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$510,758
Salaries, Compensation, and Employee Benefits$275,681
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$18,802,376
Fees for Services Other---$510,758
Current Officers, Directors, Trustees, and Key Employees---$275,681
Total Functional Expenses$0$0$0$19,588,815
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
Payable to Broker for Securities Purchased$811,993
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 and approved by a member of the senior management of blue cross blue shield of michigan, the primary contributing employer, before being filed.

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

All members of the trust's administrative committee are employees of blue cross blue shield of michigan and are required to certify their review of conflict of interest policies annually.

Form 990, Part VI, Section C, Line 19

The governing documents and conflict of interest policy, as well as the financial statements of the related plan, are available upon request.

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

The northern trust company - 333 south wabash avenue, wb 42, chicago, il 60604-4107.

Filing and Contact Details

Filer

Filer Name
Bcbsm Bargaining Unit Internal
EIN
84-6869872
Phone
3139831633
Address
600 LAFAYETTE EAST MAIL CODE 1801, DETROIT, MI 48226-2998

Signing Officer

Name
Waymond Harris
Title
Administrative Committee Member
Phone
3139831633
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Waymond Harris
Formed
2019
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
GJC CPA'S & ADVISORS
Address
535 GRISWOLD STREET SUITE 1200, DETROIT, MI 48226-3689
Preparer
Michael R Nicholas
Phone
3139652655
Supplemental Narrative

Additional Explanations

FORM 990, PAGE 1, ITEM C - LEGAL NAME OF ORGANIZATION:

The legal name of the organization is the "blue cross blue shield of michigan bargaining unit internal health benefit trust".

Raw XML Appendix397 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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IRS990/ActivityOrMissionDesc0THE TRUST WAS CREATED FOR THE EXCLUSIVE PURPOSE OF PROVIDING HEALTH BENEFITS TO ELIGIBLE EMPLOYEES OF BLUE CROSS BLUE SHIELD OF MICHIGAN.
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BenefitsToMembersGrp/TotalAmt018802376
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE NORTHERN TRUST COMPANY
IRS990/BooksInCareOfDetail/PhoneNum03125571442
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0333 SOUTH WABASH AVENUE WB 42
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED AND APPROVED BY A MEMBER OF THE SENIOR MANAGEMENT OF BLUE CROSS BLUE SHIELD OF MICHIGAN, THE PRIMARY CONTRIBUTING EMPLOYER, BEFORE BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS OF THE TRUST'S ADMINISTRATIVE COMMITTEE ARE EMPLOYEES OF BLUE CROSS BLUE SHIELD OF MICHIGAN AND ARE REQUIRED TO CERTIFY THEIR REVIEW OF CONFLICT OF INTEREST POLICIES ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY, AS WELL AS THE FINANCIAL STATEMENTS OF THE RELATED PLAN, ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE NORTHERN TRUST COMPANY - 333 SOUTH WABASH AVENUE, WB 42, CHICAGO, IL 60604-4107.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE LEGAL NAME OF THE ORGANIZATION IS THE "BLUE CROSS BLUE SHIELD OF MICHIGAN BARGAINING UNIT INTERNAL HEALTH BENEFIT TRUST".
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 VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 1, ITEM C - LEGAL NAME OF ORGANIZATION:
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0HEALTH CARE INSURANCE
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/ReturnTs02022-11-15T12:25:47-06:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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