ND Banks Benefit Trust

Nonprofit profile at a glance

EIN
467521485
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Bismarck, ND, USA
Phone
7015274298
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Government)

Reported finances

Revenue
$21,316,089
Expenses
$21,812,103
Assets
$11,743,452
Liabilities
$24,213

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • Ilene Baker (Chairman (See Schedule O))
  • Natalie Murch - Vice Chairman (Treasurer (See Schedule O))
  • Nancy Peterson (Trustee (See Schedule O))

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide and maintain those benefits which the Benefit Plan Trustees, in its sole discretion, determines from time-to-time shall be provided and as are specified in the Plan Document and for payment, in accordance with ERISA, of reasonable expenses incurred in the administration of the Plan.

What it reported doing in 2024

As of December 31, 2024, the ND Banks Benefit Trust (NDBBT) covered approximately 3,170 persons for Health Insurance. In addition, approximately 1,955 persons were covered for Dental Insurance and approximately 1,104 were covered for Vision Insurance at the end of the year.The NDBBT completed and sent out Form 1095B's to the employees of the participating banks with under 50 employees - and electronically filed the corresponding Form 1094C with the IRS. The Trust also provided guidance on completion of the Forms 1095C and 1094C for the participating banks with over 50 employees.The NDBBT continues to promote and encourage healthy lifestyles through monthly articles published in both the ICBND and NDBA monthly magazines and promoting participation in Blue Cross Blue Shield's Wellness Summits and Wellness Program Trainings.The NDBBT (working through Brown & Brown) offers ancillary benefits (life, AD&D, LTD, STD, voluntary life) to North Dakota banks.The ND BANKS Benefit Trust had 42 participating banks and 2 banking associations in the year from January 1, 2024 - December 31, 2024.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.3%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 18.7% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $0 · 9 people listed
  • Highest-paid contractors: 2 contractors listed · $1.3M reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.