2024-02-21T11:12:25-06:00 2023-04-30 351476702 BRADY WARE & SCHOENFELD INC 2206 CHESTER BLVD RICHMOND IN 47374 990 2022-05-01 356259970 IBA GROUP INSURANCE TRUST IBAG 8005586206 8425 WOODFIELD CROSSING BLVD 155E INDIANAPOLIS IN 462407231 AMBER VAN TIL CHAIRMAN 8005586206 2024-02-12 1 AMBER VAN TIL 999009999 0 TRACY A HAINES P00517541 7659660531 2024-02-12 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID FINDLAY 8425 WOODFIELD CROSSING BLVD 155E INDIANAPOLIS IN 462407231 40891955 0 X IBA GROUP INSURANCE TRUST | INDIANA.BANK X 1957 IN TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. 7 7 0 7 0 0 0 0 33482104 39098896 1036238 479178 10392 1581 34528734 39579655 0 0 31639852 36547531 0 0 0 0 0 2837729 7268984 34477581 43816515 51153 -4236860 11391886 10896110 32833 3979323 11359053 6916787 TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. 0 0 TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. 0 0 0 0 0 0 0 0 0 0 0 0 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 IN X TAFT LAW 3177133500 ONE INDIANA SQUARE SUITE 3500 INDIANAPOLIS IN 46204 X DAVID FINDLAY CHAIRMAN 0.50 X X 0 0 0 AMBER VAN TIL TRUSTEE 0.50 X 0 0 0 ROBERT BLUME TRUSTEE 0.50 X 0 0 0 SHANE PILARSKI TRUSTEE 0.50 X 0 0 0 LISA ARNOLD TRUSTEE 0.50 X 0 0 0 MATT HOWREY TRUSTEE 0.50 X 0 0 0 MIKE ZAHN TRUSTEE 0.50 X 0 0 0 0 0 0 0 0 0 0 NFP PROPERTY AND CASUALTY SERVICES INC 415 CROSSLAKE DR STE A EVANSVILLE IN 46240 TRUST ADMINISTRATION 640000 WELLNESS IQ 6450 ROCKSIDE WOODS BLVD S STE 220 INDEPENDENCE OH 44131 WELLNESS SERVICES 116173 2 INSURANCE PREMIUMS 900099 39098896 39098896 39098896 278274 278274 1513204 1312300 200904 200904 200904 MISCELLANEOUS 900099 1581 1581 1581 39579655 39100477 0 479178 36547531 1318809 75000 120815 20135 1121427 8 4610672 OTHER DEDUCTIONS 2118 43816515 810666 781000 4942661 4268777 342166 1354526 2080289 251706 3690161 3766044 11391886 10896110 32833 74071 0 3905252 32833 3979323 X 0 0 0 0 11359053 6916787 11359053 6916787 11391886 10896110 -4236860 -205406 0 X 0 1 X 0 0 0 CLAIMS PAYABLE 207585 IBNR 3697667 3905252 X 39354106 -205406 -205406 39559512 20143 20143 39579655 39661987 0 39661987 20143 4134385 4154528 43816515 PART X, LINE 2: THE VEBA TRUST FUNDING BENEFITS OF THE TRUST RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) DATED MAY 20, 1974, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)9 OF THE INTERNAL REVENUE CODE (IRC). HOWEVER, AS A RESULT OF THE TRUST'S FUNDING LEVEL, FROM TIME TO TIME THE TRUST MAY BE SUBJECT TO INCOME TAXES. FOR THE YEARS ENDED APRIL 30, 2023 AND 2022, THE TRUST WAS NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES FOR UNRELATED BUSINESS TAXABLE INCOME (UBTI). UBTI IS GENERATED AS A RESULT OF VEBA TRUST ASSETS WHICH EXCEED THE AMOUNT REASONABLY NECESSARY TO COVER UNPAID ACCRUED CLAIMS AND PREMIUMS TO INSURANCE CARRIERS, RESULTING IN THE EXCESS ACCUMULATIONS BEING SUBJECT TO UBTI. THE TAX IS ASSESSED ON THE LESSER OF THE VEBA'S INCOME OR EXCESS ASSETS IN THE QUALIFIED ASSET ACCOUNT. FOR UBTI PURPOSES, THE VEBA'S INCOME IS EQUAL TO INVESTMENT EARNINGS, LESS INVESTMENT MANAGEMENT FEES ASSOCIATED WITH THOSE EARNINGS. IN ADDITION, THE TRUST AND THE VEBA TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE TRUST ADMINISTRATOR BELIEVES THAT THE TRUST IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THAT THE RELATED VEBA TRUST IS TAX-EXEMPT. U.S. GAAP REQUIRES TRUST MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE TRUST AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE TRUST HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD BE SUSTAINED UPON EXAMINATION BY THE IRS. THE TRUST IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS. HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE TRUST REQUESTED A PRIVATE LETTER RULING FROM THE IRS ON FEBRUARY 16, 2018, REGARDING THE METHOD FOR DETERMINING THE QUALIFIED ASSET ACCOUNT LIMIT. ON JULY 16, 2018, THE TRUST RECEIVED A RESPONSE FROM THE IRS INDICATING THAT THE TRUST MAY CONSIDER INSURANCE PREMIUMS PAID AS QUALIFIED DIRECT COSTS FOR PURPOSES OF DETERMINING THE QUALIFIED ASSET ACCOUNT LIMIT. AS SUCH, THE TRUST HAS FILED AMENDED TAX FILINGS FOR THE YEARS ENDED APRIL 30, 2017 AND 2016, IN ORDER TO RECOUP THE FULL AMOUNT OF INCOME TAXES PAID TO FEDERAL AND STATE TAXING AUTHORITIES. SUCH AMOUNTS HAVE BEEN RECORDED AS INCOME TAX REFUNDS RECEIVABLE ON THE STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF APRIL 30,2023 AND 2022. PART XII, LINE 4B - OTHER ADJUSTMENTS: ADDITIONAL CHANGE IN IBNR 3,691,445. ADDITIONAL CHANGE IN CLAIMS PAYABLE 442,940. FORM 990, PART VI, SECTION A, LINE 3 IBA INSURANCE TRUST DELEGATES ACCOUNTING SERVICES TO TAFT LAW. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED ANNUALLY BY THE CHAIRMAN OF THE TRUSTEES AND IS AVAILABLE TO EACH TRUSTEE PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION C, LINE 19 THE FUND DOES NOT MAKE ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE TRUST FUND AND THE BOARD OF TRUSTEES CONFORM WITH ERISA RULES AND REGULATIONS RELATING TO THIS MATTER. ALLIANCE BANK 209 RICKEY RD MONTICELLO IN 47960 350144969 IN 0 AMERICAN COMMUNITY BANK 7880 WICKER AVENUE ST JOHN IN 46373 350144969 IN 0 BANK OF WOLCOTT 105 N RANGE ST WOLCOTT IN 47995 350786722 IN 0 BEDFORD FEDERAL SAVINGS 1030 15TH STREET BEDFORD IN 47421 350170375 IN 0 COMMUNITY FIRST BANK OF INDIANA 201 W SYCAMORE STREET KOKOMO IN 46901 134236038 IN 0 COMMUNITY STATE BANK BROOKE 224 W MAIN ST BROOK IN 47922 350258420 IN 0 COMMUNITY STATE BANK ROYAL CENTER 101 N CHICAGO ST ROYAL CENTER IN 46978 350258420 IN 0 CROSSROADS BANK 1205 CASS ST WASHINGTON IN 46992 351131741 IN 0 FAIRMOUNT STATE BANK 101 N MAIN ST FAIRMOUNT IN 46928 350300960 IN 0 FARMERS & MECHANICS S & L ASSN 225 EAST MAIN BLOOMFIELD IN 47424 350310470 IN 0 THE FARMERS BANK 10945 CORK PLACE INDIANAPOLIS IN 46236 350302320 IN 0 FCN BANK 501 MAIN STREET BROOKVILLE IN 47012 350320211 IN 0 FIRST BANK RICHMOND 20 N NINTH ST RICHMOND IN 47375 350309830 IN 0 FIRST FARMERS BANK AND TRUST 410 FLINT WAY KOKOMO IN 46902 350722410 IN 0 FIRST FEDERAL SAVINGS & LOAN ASSN WASHINGTON 439 S STATE ROAD 57 WASHINGTON IN 47501 350309860 IN 0 FIRST FEDERAL SAVINGS BANK ANGOLA 212 E MAUMEE ST ANGLOA IN 46703 350309720 IN 0 FIRST FEDERAL SAVINGS BANK HUNTINGTON 648 N JEFFERSON STREET HUNTINGTON IN 46750 350576640 IN 0 FIRST FEDERAL SAVINGS BANK ROCHESTER 2926 S MAIN ST ELKHART IN 46517 351116773 IN 0 FIRST STATE BANK OF PORTER 230 LINCOLN ST PORTER IN 46304 350310570 IN 0 FOUNTAIN TRUST COMPANY 615 THIRD STREET COVINGTON IN 47932 350317770 IN 0 GARRETT STATE BANK 120 W KING ST PO BOX GARRETT IN 46738 350328710 IN 0 GRANT CO STATE BANK 102 N WASHINGTON ST SWAYZEE IN 46986 350345507 IN 0 GREENFIELD BANKING 1920 N STATE STREET GREENFIELD IN 46140 350352340 IN 0 HARBOUR TRUST & INVESTMENT MGMT CO 1024 N KARWICK ROAD MICHIGAN CITY IN 46360 352019983 IN 0 HENDRICKS CO BANK AND TRUST COMPANY 1 E MAIN ST BROWNSBURG IN 46112 350201000 IN 0 HOME BANK SB 59 W WASHINGTON ST MARTINSVILLE IN 46151 350388822 IN 0 HOOSIER HEARTLAND STATE BANK 1400 DARLINGTON AVE CRAWFORDSVILLE IN 47933 350472900 IN 0 INDIANA BANKERS ASSOCIATION 8425 WOODFIELD CROSSING BLVD INDIANAPOLIS IN 46240 350407470 IN 0 INDIANA TRUST COMPANY 4045 EDISON LAKES PKWY MISHAWAKA IN 46545 351755675 IN 0 LAKE CITY BANK 101 W OHIO ST INDIANAPOLIS IN 46204 351559596 IN 0 LNB COMMUNITY BANK 215 MAIN STREET LYNNVILLE IN 47619 350482724 IN 0 NAPOLEON STATE BANK 8912 NORTH US HIGHWAY 421 INDIANAPOLIS IN 46236 350538700 IN 0 LOGANSPORT SAVINGS BANK FSB 723 E BROADWAY LOGANSPORT IN 46947 350476940 IN 0 NORTH SALEM STATE BANK 7 NORTH SALEM NORTH SALEM IN 46465 350551480 IN 0 PEOPLES BANK FSB MUNSTER 9204 COLUMBIA AVE MUNSTER IN 46321 350576197 IN 0 PEOPLES COMMUNITY BANK SB OF MONTICELLO 126 CONSTITUTION PLAZA MONTICELLO IN 47960 350575815 IN 0 PEOPLES TRUST & SAVINGS BANK 132 S 3RD ST BOONVILLE IN 47601 350576890 IN 0 RIDDELL NATIONAL BANK 1 EAST NATIONAL AVE BRAZIL IN 47834 350613236 IN 0 SCOTTSBURG BUILDING & LOAN ASSN 306 W MCCLAIN AVE SCOTTSBURG IN 47170 350643125 IN 0 SECURITY FEDERAL SAVINGS 314 4TH ST LOGANSPORT IN 46947 350309780 IN 0 SPENCER COUNTY BANK 55 NORTH LOUIS J KOCH BLVD SANTA CLAUS IN 47579 350458660 IN 0 THE HOMETOWN SAVINGS BANK FORMERLY KNOW AS TERRE HAUTE SAVINGS BANK 533 OHIO STREET TERRE HAUTE IN 47087 350705150 IN 0 THE FIRST NATIONAL BANK OF MONTEREY 6222 E MAIN STREET MONTEREREY IN 46960 350310210 IN 0 TRI COUNTY BANK AND TRUST COMPANY 18 E WASHINGTON ST ROACHDALE IN 46172 350617170 IN 0 UNITED FIDELITY BANK 18 NW FOURTH ST EVANSVILLE IN 47708 350298350 IN 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0