2024-11-06T20:17:55-06:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2023-01-01 132970130 THE EPISCOPAL CHURCH CLERGY AND EMPLOYEES BENEFIT TRUST EPIS 2125921800 19 EAST 34TH STREET NEW YORK NY 10016 ROBERT JOHNSON SENIOR VP 2125921800 2024-11-06 1 0 SCOTT THOMPSETT P00741490 2125990100 2023 2024-10-15 13:58:12Z NORTHERN TRUST COMPANY 50 LASALLE STREET CHICAGO IL 60603 281970062 0 X N/A X 1978 NY THE ECCEBT FUNDS WELFARE BENEFITS FOR EPISCOPAL CHURCH ACTIVE & RETIRED CLERGY/LAY EMPLOYEES. 1 0 0 0 0 0 0 0 262633504 265096373 1686001 2118101 3856166 10221233 268175671 277435707 0 0 250061164 260143533 76354 76125 0 0 0 26452679 23548297 276590197 283767955 -8414526 -6332248 73680608 72266092 35694984 38369155 37985624 33896937 THE EPISCOPAL CHURCH CLERGY AND EMPLOYEES BENEFIT TRUST FUNDS WELFARE BENEFITS FOR ACTIVE AND RETIRED CLERGY AND LAY EMPLOYEES OF THE EPISCOPAL CHURCH. 0 0 0 0 0 THE EPISCOPAL CHURCH CLERGY AND EMPLOYEES BENEFIT TRUST COLLECTS CONTRIBUTIONS FROM, AND ON BEHALF OF, THE ACTIVE AND RETIRED CLERGY AND LAY EMPLOYEES OF THE EPISCOPAL CHURCH AND THEIR DEPENDENTS FOR THE PAYMENT OF WELFARE BENEFIT CLAIMS. THE EPISCOPAL CHURCH CLERGY AND EMPLOYEES BENEFIT TRUST CURRENTLY SERVES 100 EPISCOPAL DIOCESES PROVIDING MEDICAL AND DENTAL COVERAGE FOR 23,601 ACTIVE EMPLOYEE MEMBERS, AND 10,061 RETIREE/SURVIVING MEMBERS. 0 0 0 0 0 0 0 0 0 0 0 0 1 1 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 1 0 0 1 6 0 1 0 0 0 0 0 0 0 0 0 X 1 0 0 1 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 0 0 0 X ECCEBT 2125921800 19 EAST 34TH STREET NEW YORK NY 100160109 X THE NORTHERN TRUST COMPANY INSTITUTIONAL TRUSTEE 1.00 0.00 X 27438 76125 0 27438 76125 0 0 0 0 0 CHURCH PENSION GROUP SERVICES CORPORATIO 19 EAST 34TH STREET NEW YORK NY 10016 PLAN ADMINISTRATION 11703841 1 EMPLOYER/EMPLOYEE CONT 525100 237439868 237439868 GROUP MEDICARE (GMA) 525100 21612253 21612253 GROUP LIFE 525100 3360661 3360661 DISABILITY BENEFITS 525100 1683684 1683684 HMO RECEIPTS 525100 999907 999907 265096373 2652456 2652456 4000000 4534355 -534355 -534355 -534355 HMO ADMINISTRATION FEE 561000 10221233 10221233 10221233 277435707 275317606 0 2118101 260143533 76125 33661 27438 13391849 CLAIM SETTLEMENT FEES 9912184 BAD DEBT EXPENSE 79961 PCORI FEES 59025 HEALTH MANAGEMENT FEES 44179 283767955 8791978 10678428 740951 1190622 2874497 3865169 49269239 48934497 12003943 7597376 73680608 72266092 442015 3023415 6127233 7554760 29125736 27790980 35694984 38369155 X 0 0 0 0 37985624 33896937 37985624 33896937 73680608 72266092 -6332248 2243561 0 X 0 1 X 1 0 0 PHARMACY VOLUME DISCOUNT RECEIVABLE 6211772 OTHER ASSETS 491782 REINSURANCE RECOVERABLE ON UNPAID CLAIMS 180069 REINSURANCE RECOVERABLE ON PAID CLAIMS 674137 ACCRUED INTEREST RECEIVABLE 39616 7597376 HEALTH BENEFIT RESERVE 16221798 BENEFIT CLAIMS PAYABLE 8578174 DUE TO AFFILIATE 2991008 27790980 X 251899345 2243561 2243561 249655784 27779923 27779923 277435707 255988032 0 255988032 27779923 27779923 283767955 PART X, LINE 2: FORM 990, SCHEDULE D, PART X: FIN-48 FOOTNOTE THE ECCEBT HAS RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE DATED AUGUST 25, 1981, STATING THAT THE ECCEBT IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(A) OF THE INTERNAL REVENUE CODE (THE CODE) AS AN ORGANIZATION DESCRIBED AS A VEBA IN SECTION 501(C)(9) OF THE CODE. THE ECCEBT IS REQUIRED TO OPERATE IN CONFORMITY WITH THE CODE TO MAINTAIN ITS TAX-EXEMPT STATUS AS A VEBA. THE PLAN MANAGEMENT BELIEVES THE ECCEBT IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE CODE AND, THEREFORE, BELIEVES THE ECCEBT IS TAX EXEMPT. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES (GAAP) REQUIRE THE ECCEBT TO EVALUATE UNCERTAIN TAX POSITIONS TAKEN BY THE ECCEBT. THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION ARE RECOGNIZED WHEN THE POSITION IS MORE LIKELY THAN NOT, BASED ON TECHNICAL MERITS, TO BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THERE WERE NO UNCERTAIN TAX POSITIONS TAKEN BY THE ECCEBT AS OF DECEMBER 31, 2023 AND 2022. FORM 990, SCHEDULE D, PART XI & XII, LINE 4B HMO PAYMENTS WERE NETTED AGAINST HMO PREMIUMS IN THE AUDITED FINANCIAL STATEMENTS, THEREBY REDUCING INCOME AND EXPENSES ACCORDINGLY BY IDENTICAL AMOUNTS........$27,779,923 FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT DUTIES FOR ECCEBT ARE PERFORMED BY EMPLOYEES OF THE CHURCH PENSION GROUP SERVICES CORPORATION (CPGSC), THE SPONSOR OF THE ECCEBT. THESE EMPLOYEES ARE ASSIGNED TO WORK SOLELY IN THE ADMINISTRATION OF SERVICES TO THE MEMBERS AND THE PERFORMANCE OF MANAGEMENT DUTIES OF THE ECCEBT. FORM 990, PART VI, SECTION A, LINE 9 THE NORTHERN TRUST COMPANY 50 SOUTH LASALLE STREET CHICAGO, ILLINOIS 60603 FORM 990, PART VI, SECTION B, LINE 11B THE ECCEBT FORM 990 WAS PREPARED AND REVIEWED BY THE STAFF OF THE FINANCE, TAX AND LEGAL DEPARTMENTS OF CPGSC, WHICH IS THE SPONSOR OF THE BENEFIT PLANS FUNDED BY THE ECCEBT, PRIOR TO BEING SHARED WITH NORTHERN TRUST, THE INSTITUTIONAL TRUSTEE FOR THE ECCEBT. IN ADDITION, THE ECCEBT FORM 990 WAS REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEE HAS ADOPTED A CODE OF BUSINESS CONDUCT AND ETHICS THAT INCLUDES A SECTION ON CONFLICTS OF INTEREST. THE TRUSTEE REQUIRES ALL STAFF MEMBERS WITH THE RANK OF OFFICER AND ABOVE TO ANNUALLY (A)DISCLOSE THEIR OUTSIDE CONNECTIONS AND OWNERSHIP INTERESTS AND (B)AFFIRM THAT THEY HAVE REVIEWED AND ARE IN COMPLIANCE WITH A NUMBER OF THE TRUSTEE'S POLICIES INCLUDING THE CODE OF BUSINESS CONDUCT AND ETHICS AND ITS GUIDELINES RELATING TO STANDARDS OF CONDUCT, WHICH ALSO INCLUDES A SECTION ON CONFLICTS OF INTEREST. IN ADDITION, ALL NEW HIRES ARE REQUIRED TO MAKE THE SAME AFFIRMATION. VIOLATIONS OF THE TRUSTEE'S CODE OF BUSINESS CONDUCT AND ETHICS AND/OR GUIDELINES RELATING TO STANDARDS OF CONDUCT CAN RESULT IN DISCIPLINARY ACTION, INCLUDING TERMINATION. THE TRUSTEE HAS AN EMPLOYEE HOTLINE PROVIDED BY A THIRD PARTY PROVIDER. ANY STAFF MEMBER CAN ANONYMOUSLY REPORT INSTANCES OF BUSINESS ABUSE, INCLUDING A CONFLICT OF INTEREST, THROUGH THE HOTLINE. THE TRUSTEE HAS A CHIEF COMPLIANCE AND ETHICS OFFICER. THE TRUSTEE PROVIDES COMPLIANCE AND ETHICS TRAINING, WITH THE REQUIRED COURSES VARYING DEPENDING UPON THE STAFF MEMBER'S RESPONSIBILITIES. FORM 990, PART VI, SECTION C, LINE 19 THE ECCEBT'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ECCEBT'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CONFLICT OF INTEREST POLICY, WHISTLE-BLOWER POLICY, AND DOCUMENT RETENTION AND DESTRUCTION POLICY ARE THE POLICIES OF THE TRUSTEE, THE NORTHERN TRUST COMPANY. 990 PART VII, SECTION A THE NORTHERN TRUST COMPANY IS PAID $76,125 FOR SERVICES RENDERED AS INSTITUTIONAL TRUSTEE FOR THE EPISCOPAL CHURCH CLERGY AND EMPLOYEES BENEFIT TRUST (ECCEBT); THIS FEE IS PAID BY A RELATED PARTY AND REIMBURSED BY ECCEBT. IN ADDITION, NORTHERN TRUST COMPANY RECEIVED $27,438 IN INVESTMENT MANAGEMENT FEES BY ECCEBT TO MANAGE ITS INVESTMENT PORTFOLIO; RECEIPT OF THIS ADDITIONAL SOURCE OF INCOME RENDERS THE NORTHERN TRUST COMPANY A NON-INDEPENDENT TRUSTEE FOR 990 PURPOSES. CHURCH PENSION GROUP SERVICES CORP 19 EAST 34TH STREET NEW YORK NY 10016 PLAN ADMIN DE 501(C)(3) 509(A)(3) CPF 0 THE EPISCOPAL CHURCH 815 SECOND AVENUE NEW YORK NY 10016 CHURCH NY 501(C)(3) LINE 1 N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 1 THE CHURCH PENSION FUND S 30880196 ACTUAL COST CHURCH PENSION GROUP SERVICES CORPORATION S 12032254 ACTUAL COST CHURCH PENSION GROUP SERVICES CORPORATION O 13467974 ACTUAL COST CHURCH PENSION GROUP SERVICES CORPORATION N 13467974 ACTUAL COST CHURCH PENSION GROUP SERVICES CORPORATION M 13467974 ACTUAL COST CHURCH PENSION GROUP SERVICES CORPORATION K 13467974 ACTUAL COST CHURCH PENSION GROUP SERVICES CORPORATION P 13467974 ACTUAL COST THE EPISCOPAL CHURCH S 222183923 ACTUAL COST SCHEDULE R, PART V CHURCH PENSION GROUP SERVICES CORPORATION PROVIDES CERTAIN SERVICES, PRIMARILY PERSONNEL AND FACILITIES RELATED, AND GENERAL AND ADMINISTRATIVE EXPENSE PROCESSING TO THE TRUST ON A COST-REIMBURSEMENT BASIS AND BILLED $13,467,974 FOR THE YEAR ENDED DECEMBER 31, 2023.