2024-09-10T13:34:24-05:00 2023-10-31 030327374 MCSOLEY MCCOY & CO 118 TILLEY DRIVE STE 202 SOUTH BURLINGTON VT 05403 990 2022-11-01 030210827 GRANITE GROUP INSURANCE TRUST GRAN 8024763291 105 NORTH MAIN STREET 205 BARRE VT 05641 ANNE HOULE TREASURER 8024763291 2024-09-10 1 0 CONNIE FELLION P01875413 8026581808 2024-09-10 2022 2024-08-08 14:25:15Z X ANNE HOULE 105 NORTH MAIN STREET 205 BARRE VT 05641 16544586 0 X N/A X 1947 VT PROVIDES VARIOUS WELFARE BENEFIT INSURANCE COVERAGES FOR MEMBER EMPLOYERS AND EMPLOYEES. 8 8 16 8 0 0 0 0 14319061 15980411 38 -25545 0 0 14319099 15954866 0 0 14050710 16102681 153692 206408 0 0 0 61000 77262 14265402 16386351 53697 -431485 1468905 1119179 9651 13991 1459254 1105188 PROVIDES MEDICAL, DENTAL, VISION, LIFE, AND DISABILITY INSURANCE COVERAGES FOR MEMBER EMPLOYERS AND EMPLOYEES. WE ARE SIGNATURE TO A COLLECTIVE BARGAINING AGREEMENT. THE TRUST ALSO PROVIDES MEDICARE SUPPLEMENT PLAN COVERAGES FOR RETIRED MEMBERS. 0 0 THE GRANITE GROUP INSURANCE TRUST'S MEDICAL COVERAGES ARE THE PRIMARY SOURCE OF REVENUE AND EXPENSES. WE ADMINISTER A MULTI-EMPLOYER GROUP PLAN WHICH IS GOVERNED BY UNIONIZED LABOR CONTRACTS. THE GRANITE GROUP INSURANCE TRUST'S LIFE INSURANCES, SHORT TERM AND LONG TERM DISABILITY BENEFITS ARE SECONDARY PROGRAMS OF OUR PROVIDED GROUP BENEFITS. THE MULTI-EMPLOYER GROUP IS GOVERNED BY UNIONIZED LABOR CONTRACTS. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 16 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 0 0 1 1 1 0 VT X THE ORGANIZATION 8024763291 105 NORTH MAIN STREET 205 BARRE VT 05641 MATTHEW PEAKE CHAIRMAN 1.00 X X 0 0 0 SARAH SOMERVILLE CO-CHAIRMAN 1.00 X X 0 0 0 RAYMOND BETTIS TRUSTEE 1.00 X 0 0 0 RICK SAUER TRUSTEE 1.00 X 0 0 0 WILLIAM CLIFFORD TRUSTEE 1.00 X 0 0 0 MARION LENGLET TRUSTEE 1.00 X 0 0 0 PAIGE LAMTHI TRUSTEE 1.00 X 0 0 0 ROBERT POPE TRUSTEE 1.00 X 0 0 0 ANNE HOULE TREASURER 40.00 X 81474 0 0 81474 0 0 0 0 0 0 0 MEDICAL, DENTAL, VISION PROGRAMS 524114 15570178 15570178 LIFE & DISABILITY PROGRAMS 524113 256448 256448 ADMINISTRATIVE REVENUE 524292 153785 153785 15980411 23252 23252 540923 589720 -48797 -48797 -48797 15954866 15980411 0 -25545 16102681 84247 61760 53656 6745 333 15754 6953 13104 11554 22079 483 6489 BANK FEES 513 16386351 690831 649575 6106 1557 1161 27318 770807 440729 1468905 1119179 9651 13991 9651 13991 X 1459254 1105188 1459254 1105188 1468905 1119179 -431485 77419 0 X 0 1 X 1 0 0 X 16032285 77419 77419 15954866 0 15954866 16386351 0 16386351 0 16386351 PART X, LINE 2: THE TRUST ESTABLISHED UNDER THE PLAN TO HOLD THE PLAN'S ASSETS INTENDED TO QUALIFY, PURSUANT TO SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, NO PROVISION FOR INCOME TAX IS PROVIDED AS TRUST INCOME IS EXEMPT FROM INCOME TAXES. THE ADMINISTRATOR HAS OBTAINED A FAVORABLE TAX DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE. THE TRUST HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER. HOWEVER, THE PLAN ADMINISTRATOR BELIEVES THAT THE TRUST IS CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE PLAN'S FINANCIAL STATEMENTS. U.S. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZED A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THER ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOS IN PROGRESS. THE PLAN ADMINISTRATOR BELEIVED IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020. FORM 990, PART VI, SECTION A, LINE 6 THE COLLECTIVE BARGAINING AGREEMENT IS BASED ON A MEMBERSHIP VOTE. THE TRUST IS GOVERNED BY THIS CONTRACT. FORM 990, PART VI, SECTION A, LINE 7A THE TRUSTEES HAVE THE AUTHORITY TO APPOINT A NEW OR REPLACEMENT TRUSTEE. FORM 990, PART VI, SECTION A, LINE 7B THE UNION'S BARGAINING AGREEMENT IS BASED ON A MEMBERSHIP VOTE, THE BOARD OF TRUSTEES REVIEWS THE PROPOSED CONTRACTS AND MAKES ANY CHANGES WHICH IS NOT IN ACCORDANCE TO THE TRUST BY-LAWS AND POLICIES OF THE TRUST. FORM 990, PART VI, SECTION B, LINE 11B ALL TAX FILINGS ARE REVIEWED AND APPROVED BY THE AUDITING FIRM. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIRMAN & CO-CHAIRMAN OF THE BOARD REVIEW THE EMPLOYEE COMPENSATION & BENEFITS WITH THE BOARD AND ARE APPROVED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE GRANITE GROUP INSURANCE TRUST GOVERNING DOCUMENTS ARE COMPILED OF THE TRUST AGREEMENT AND POLICIES DEVELOPED BY THE BOARD OF TRUSTEES, AS WELL AS, ALL THE COLLECTIVE BARGAINING AGREEMENTS. ALL THE DOCUMENTS, INCLUDING FINANCIAL STATEMENTS, ARE AVAILABLE ON A WEBSITE AND ALSO BY WRITTEN REQUEST.