2024-12-02T10:43:24-06:00 2023-12-31 581653941 MOORE COLSON & COMPANY PC 600 GALLERIA PARKWAY SE SUITE 600 ATLANTA GA 30339 990 2023-01-01 582241094 GEORGIA BANKERS ASSOCIATION INSURANCE TRUST INC GEOR 4045221501 50 HURT PLAZA 1050 ATLANTA GA 30303 TESSA NOLAN CFO 4045221501 2024-11-14 1 1 J PHIL BOOTH P00010195 7709890028 2023 2024-10-15 13:58:12Z TESSA NOLAN 50 HURT PLAZA 1050 ATLANTA GA 30303 135034259 0 X WWW.GABANKERS.COM X 1961 GA TO PROVIDE GROUP INSURANCE BENEFITS TO MEMBERS OF THE GEORGIA BANKERS ASSOCIATION. 10 9 6 9 2892726 490088 0 0 100941245 107518299 590806 2892726 9 0 101532060 110411025 0 0 95447202 90844402 655423 998323 0 0 0 4756771 4875862 100859396 96718587 672664 13692438 66520355 78707553 17342755 12642407 49177600 66065146 THE TRUST EXISTS TO PROVIDE GROUP MEDICAL, LIFE, DISABILITY, AND OTHER HEALTH INSURANCE BENEFITS TO ELIGIBLE EMPLOYEES OF MEMBERS OF THE GEORGIA BANKERS ASSOCIATION. 0 0 THE TRUST PROVIDES GROUP MEDICAL, LIFE, DISABILITY, AND OTHER HEALTH INSURANCE BENEFITS TO ELIGIBLE EMPLOYEES OF MEMBERS OF THE GEORGIA BANKERS ASSOCIATION. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 4 0 6 1 1 1 0 0 0 0 0 0 0 X 10 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 GA X TESSA NOLAN 4045221501 50 HURT PLAZA SUITE 1050 ATLANTA GA 30303 RICHARD WHALEY CHAIRMAN 1.00 X X 0 0 0 JUD VANN AT LARGE 1.00 X 0 0 0 J JOSEPH BRANNEN AT LARGE 1.00 39.00 X X 0 527702 0 CHRIS EDWARDS VICE CHAIRMAN 1.00 X X 0 0 0 RYAN EARNEST AT LARGE 1.00 X 0 0 0 GLENN P WILLIS JR AT LARGE 1.00 X 0 0 0 L JACKSON MCCONNELL JR AT LARGE 1.00 X 0 0 0 PHILIP WILLIAMS AT LARGE 1.00 X 0 0 0 MIKE ODOM AT LARGE 1.00 X 0 0 0 BRAD BARBER AT LARGE 1.00 X 0 0 0 TESSA NOLAN CFO 40.00 X 209178 0 31148 KERI BROOKS CORPORATE COUNSEL 40.00 X 181803 0 31496 MICHAEL T COFIELD CEO/PRESIDENT 40.00 X 248116 0 30620 JAYN LAWSON MANAGER MEMBER SUPPORT 40.00 X 116532 0 0 VIRGINIA L MONROE MANAGER FINANCE & ADMIN 40.00 X 142196 0 0 897825 527702 93264 6 0 1 0 LIFE2 INC 4500 MANSELL RD ALPHARETTA GA 30022 TECHNOLOGY PROVIDER 602750 POINTNORTH INSURANCE GROUP LLC 2860 JOHNSON FERRY ROAD SUITE 200 MARIETTA GA 30062 INSURANCE BROKER 386380 CARE2025 LLC 2205 FLEURIE LANE BRASELTON GA 30517 CONFERENCE PROVIDER 310375 MOORE COLSON 600 GALLERIA PARKWAY SE SUITE 600 ATLANTA GA 30339 ACCOUNTANT 300069 SENTRYHEALTH 7410 NEW LA GRANGE ROAD STE 205 LOUISVILLE KY 40222 MEDICAL TECHNOLOGY PRODUCT DEVELOPMENT 198160 6 MEDICAL/DENTAL INSURANCE PREMIUMS 524292 103346445 103346445 OTHER INSURANCE PREMIUMS 524292 4171854 4171854 107518299 1743430 1743430 25772530 24623234 1149296 1149296 1149296 110411025 107518299 2892726 0 90844402 732361 265962 252437 136341 882740 25743 INCOME TAXES 135524 CLAIMS PROCESSING 3092341 COMMISSIONS AND FEES 180000 GENERAL ADMINISTRATION 144168 26568 96718587 10250270 14583340 1943929 3908459 27993 43579 102161 54948 0 47213 50497190 56259360 3150124 3150124 650849 715478 66520355 78707553 387432 500549 16955323 12141858 17342755 12642407 X 0 0 0 0 49177600 66065146 49177600 66065146 66520355 78707553 X 13692438 3190926 4182 X X 0 1 X 1 0 102161 54948 47213 47213 CLAIMS PAYABLE 1641858 IBNR RESERVE 10500000 12141858 X PART X, LINE 2: THE TRUST RECORDS A LIABILITY FOR UNRECOGNIZED TAX BENEFITS RESULTING FROM UNCERTAIN TAX POSITIONS TAKEN (OR EXPECTED TO BE TAKEN) IN A TAX RETURN BEFORE THE UNCERTAIN TAX POSITIONS ARE FINALLY RESOLVED WITH THE TAXING AUTHORITY. IF THE TRUST CONSIDERS THAT A TAX POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED UPON AN AUDIT BY THE TAXING AUTHORITY, BASED SOLELY ON THE TECHNICAL MERITS OF THE TAX POSITION, IT RECOGNIZES THE TAX BENEFIT. THE TRUST MEASURES THE TAX BENEFIT BY DETERMINING THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT, PRESUMING THAT THE TAX POSITION IS EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE TRUST RECOGNIZES ESTIMATED FUTURE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX POSITIONS, IF ANY, AS INCOME TAX EXPENSE IN THE CONSOLIDATED STATEMENTS OF CHANGES IN FUND BALANCE. THE ACCOUNTING FOR UNCERTAIN TAX POSITIONS DID NOT HAVE ANY IMPACT ON THE TRUST'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. X 1 1 X 0 0 0 J JOSEPH BRANNEN AT LARGE 0 527702 0 0 0 0 0 0 0 0 0 527702 0 0 MICHAEL T COFIELD CEO/PRESIDENT 248116 0 0 0 0 0 5294 0 25326 0 278736 0 0 0 TESSA NOLAN CFO 209178 0 0 0 0 0 6101 0 25047 0 240326 0 0 0 KERI BROOKS CORPORATE COUNSEL 181803 0 0 0 0 0 6031 0 25465 0 213299 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE BOARD OF DIRECTORS IS COMPOSED OF BUSINESS LEADERS WITHIN THE INDUSTRY. AS SUCH, THE DIRECTORS MAY HAVE NORMAL BUSINESS RELATIONSHIPS WITH EACH OTHER IN THE NORMAL COURSE OF BUSINESS. HOWEVER, THESE BUSINESS RELATIONSHIPS ARE CONDUCTED AT ARM'S LENGTH, PURSUANT TO NORMAL BUSINESS TERMS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S MANAGEMENT, CEO, AND CFO REVIEW FORM 990 BY VERIFYING THE ANSWERS TO ALL QUESTIONS AND THE ACCURACY OF FINANCIAL DATA TO THE BEST OF THEIR ABILITIES. ANY QUESTIONS OR CHANGES ARE COMMUNICATED TO THE FIRM THAT PREPARES THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE WITH THE POLICY BY SUCH ACTIONS AS REQUIRING ANNUAL DISCLOSURE FROM EACH OFFICER AND DIRECTOR. ADDITIONALLY, IF AN ACTUAL CONFLICT OF INTEREST IS DETERMINED BY THE BOARD, SUCH OFFICER OR DIRECTOR SHALL NOT PARTICIPATE IN ANY BOARD DISCUSSION OR VOTE ON THE MATTER. FORM 990, PART VI, SECTION C, LINE 19 A CONFLICT OF INTEREST POLICY WAS ADOPTED BY THE ORGANIZATION IN JULY 2017. DISCUSSIONS ARE UNDER WAY FOR MAKING FINANCIAL INFORMATION AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC VIA THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: PENSION BENEFIT ADJUSTMENT 4,182. FORM 990, PART XII, LINE 2C: THE PROCESS BY WHICH THE ORGANIZATION CHOOSES AN AUDITOR AND REVIEWS THE FINANCIALS HAS NOT CHANGED SINCE THE PRIOR YEAR. GEORGIA BANKERS ASSOCIATION 50 HURT PLAZA SUITE 1050 ATLANTA GA 30303 580254910 EDUCATE AND INFORM ITS MEMBERS IN BANKING TRENDS AND ISSUES GA 501(C)(6) N/A 0 PARAGON BENEFITS INC 6065 BUSINESS PARK DRIVE COLUMBUS GA 31909 581741732 INSURANCE CLAIMS PROCESSING GA N/A C -573423 4813420 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 PARAGON BENEFITS INC M 3105866 ACTUAL PAYMENTS MADE GEORGIA BANKERS ASSOCIATION P 959273 ACTUAL EXPENSES