Blue Cross Blue Shield Association

Not tax-deductible

Chicago, IL501(c)(4)Since 1948Health Care EIN 13-5656874Revenue $862.7M in FY2024

On file with the IRSbcbs.com200 E Randolph, 60601-6436 · Chicago, ILTax-exempt since Feb 1958

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501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
97¢ of each $1 spent went to programs.
$29.6M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $35.3M a year · 5% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$29.6M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
10 mo
of spending, in cash
Looks good: 9.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $26K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$913.8M
73% of total assets
Worth a look: liabilities are 73% of assets; over 65%.
Pt X · Ln 26
Independent board members
33
of 34 voting members
Looks good: 33 of 34 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$862.7M
+5% vs prior year
Spent
$851.5M
To programs
97%
Net assets
$332.1M
By yearFY2020–FY2024
Revenue
$862.7M
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$672.9M
FY2021$780.0M
FY2022$755.8M
FY2023$819.1M
FY2024$862.7M
Expenses
$851.5M
FY2024▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$661.1M
FY2021$705.4M
FY2022$697.9M
FY2023$798.0M
FY2024$851.5M
Net assets
$332.1M
FY2024▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020−$20.4M
FY2021$108.7M
FY2022$280.4M
FY2023$317.1M
FY2024$332.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1958.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $825.4M Management & general 3% · $26.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

78 people listed on the 990; $29.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
President and CEO
$6,155,415Pt VII · Sec A
Senior Vice President (end 06/24)
$1,455,280Pt VII · Sec A
Executive Vice President (end 07/24)
$1,302,007Pt VII · Sec A
Executive Vice President (end 05/24)
$1,284,466Pt VII · Sec A
Executive Vice President & CFO
$1,097,094Pt VII · Sec A
Senior Vice President
$848,926Pt VII · Sec A
Vice President (end 06/24)
$847,644Pt VII · Sec A
Senior Vice President
$799,235Pt VII · Sec A

Kim Keck’s $6.2M as President and CEO is at the 98th percentile of top reported officer pay among 1747 $100M+ health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Scott P Serota——$184,611$19,779,370$8,906,184
Kim Keck$6,155,415$4,374,499$3,939,088$2,607,641—
Maureen E Sullivan——$2,967,729$895,164$776,244
Jennifer Vachon$1,302,007$1,829,407$2,826,960$2,465,987$1,380,627
Robert J Kolodgy JR——$512,165$2,492,436$1,088,737
William Nehs$1,455,280$1,006,003———
Justine Handelman—$162,500$1,386,156$1,044,464$855,751
Sean Robbins$1,284,466$1,357,164$1,107,540$413,418—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Facilitates seamless national healthcare access for members traveling or living outside their home plan's service area.

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Provided by the organization

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3 programs · $740.6M · in their own filed words · FY2024
01

The blue cross and blue shield association's federal employee program (fep) administers the blue cross and blue shield service benefit plan. Approximately 67.5 percent of all federal employees and retirees who received their health care benefits through the government's federal employees' health benefits program (fehbp) are members of…

$358.4Mprogram expense
02

The bluecard program enables blue plan members to receive the benefits of their insurance contracts while traveling or living in another member plan's geographic service area. Through bluecard, blue plan members are given seamless national access to physicians and hospitals that participate in blue networks.

$241.3Mprogram expense
03

As an association of member plans, the association (1) coordinates advertising and communication programs, providing policy and representation of member interests, (2) monitors and fosters the financial stability of all the plans, and (3) supports the ability of the plans to operate efficiently by providing conferences, consulting and…

$140.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$26K
Grants paid · 43 grants · $3.2M · 2023–2024
Boys & Girls Clubs of AmericaGA · FY2024$550,000
NAACPMD · FY2024$100,000
Keep Americans CoveredDC · FY2024$50,000
March of Dimes INCVA · FY2024$50,000
American Action Forum INCDC · FY2024$50,000
Blessings in a Backpack INCKY · FY2024$28,000
GardeneersIL · FY2024$15,000
EscalentUT · FY2024$13,000
Cradles to Crayons INCMA · FY2024$12,500
Hope for the WarriorsVA · FY2024$5,562
Boys & Girls Clubs of AmericaGA · FY2023$500,000
See all 43 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$862.7M
Ln 12
Fees for servicesLn 2g$850.9M
Investment incomeLn 3$11.8M
Money outPt IX
$851.5M
Ln 25
Programscol B$825.4M
Managementcol C$26.1M
Owns and owesPt X
$332.1M
net assets · Ln 32
Cash and savingsLn 1–2$698.7M
Total assetsLn 16$1.2B
LiabilitiesLn 26$913.8M
PeoplePt VI, VII
78
listed · VII A
PaidVII A43
Voting boardVI 1a34
IndependentVI 1b33
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$850.9M
Investment incomeLn 3$11.8M
Gains on assetsLn 7$2.6M
Total revenueLn 12$862.7M
Assets in detailPt X, end of year
CashLn 1$1.1M
SavingsLn 2$697.6M
Cash and savings togetherLn 1–2$698.7M
InvestmentsLn 11–13$164.0M
Land, buildings, equipmentLn 10c$48.4M
Other assetsLn 15$120.0M
Total assetsLn 16$1.2B
LiabilitiesLn 26$913.8M
Net assetsLn 32$332.1M
OperationsPt I, VI
EmployeesI 51,348
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$576.0M$698.7M
InvestmentsLn 11–13$142.9M$164.0M
Land, buildings, equipmentLn 10c$52.1M$48.4M
Total assetsLn 16$1.13B$1.25B
LiabilitiesLn 26$809.6M$913.8M
Net assetsLn 32$317.1M$332.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.2M$1.2M
Pay of current officers, directors and key staffLn 5$34.1M$32.0M$2.1M
Pay of disqualified personsLn 6$165K$165K
Other salaries and wagesLn 7$197.8M$187.5M$10.3M
Pension plan contributionsLn 8$12.7M$12.7M
Other employee benefitsLn 9$23.4M$21.4M$2.0M
Payroll taxesLn 10$15.2M$14.7M$551K
Legal feesLn 11b$56.6M$56.6M$30K
Accounting feesLn 11c$1.3M$1.3M
Lobbying feesLn 11d$3.5M$3.5M
Other fees for servicesLn 11g$311.3M$306.2M$5.0M
Advertising and promotionLn 12$16.4M$16.4M
Office expensesLn 13$9.0M$8.9M$134K
Information technologyLn 14$105.8M$103.5M$2.3M
OccupancyLn 16$9.8M$9.5M$275K
TravelLn 17$7.6M$6.8M$851K
Conferences, conventions and meetingsLn 19$4.9M$4.3M$632K
Depreciation, depletion and amortizationLn 22$25.9M$25.5M$438K
InsuranceLn 23$6.9M$6.7M$141K
Other expenses (24a–d)Ln 24$7.7M$6.7M$1.0M
Total functional expensesLn 25$851.5M$825.4M$26.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $862.7M$851.5M$11.2M$332.1M 990 PDF
FY2023 $819.1M$798.0M$21.1M$317.1M 990 PDF
FY2022 $755.8M$697.9M$57.9M$280.4M 990 PDF
FY2021 $780.0M$705.4M$74.6M$108.7M 990 PDF
FY2020 $672.9M$661.1M$11.8M−$20.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $862,659,881 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $811,173,913$850,864,692
I-10 Investment incomePrior year $5,320,484$11,848,611
I-11 Other revenuePrior year $2,629,151−$53,422
I-12 Total revenuePrior year $819,123,548$862,659,881
I-13 Grants and similar amounts paidPrior year $2,000,585$1,215,062
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $273,000,689$283,419,637
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $522,974,960$566,868,722
I-18 Total expensesPrior year $797,976,234$851,503,421
I-19 Revenue less expensesPrior year $21,147,314$11,156,460
Part VI · Governance 33 of 34 board members independent, 1 to look at
VI-1a Voting members of the governing body34
VI-1b Independent voting members33
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $862,659,881 across 5 lines filed
Lines not itemized here account for $12,168,276 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $834,994,071 · Unrelated business $3,702,345$838,696,416
VIII-3 Investment incomeExcluded from tax $9,296,120$9,296,120
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,552,491$2,552,491
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business −$53,422−$53,422
VIII-12 Total revenueRelated to mission $847,162,347 · Unrelated business $3,648,923 · Excluded from tax $11,848,611$862,659,881
Part IX · Statement of functional expenses $851,503,421 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $1,215,062$1,215,062
IX-5 Pay of current officers, directors and key staffPrograms $31,993,303 · Management $2,144,534$34,137,837
IX-6 Pay of disqualified personsManagement $165,302$165,302
IX-7 Other salaries and wagesPrograms $187,516,237 · Management $10,332,033$197,848,270
IX-8 Pension plan contributionsPrograms $12,699,983$12,699,983
IX-9 Other employee benefitsPrograms $21,381,812 · Management $1,982,853$23,364,665
IX-10 Payroll taxesPrograms $14,652,085 · Management $551,495$15,203,580
IX-11b Legal feesPrograms $56,608,042 · Management $30,196$56,638,238
IX-11c Accounting feesPrograms $1,289,662$1,289,662
IX-11d Lobbying feesPrograms $3,547,168$3,547,168
IX-11g Other fees for servicesPrograms $306,244,789 · Management $5,032,550$311,277,339
IX-12 Advertising and promotionPrograms $16,438,696$16,438,696
IX-13 Office expensesPrograms $8,905,307 · Management $133,668$9,038,975
IX-14 Information technologyPrograms $103,464,978 · Management $2,323,984$105,788,962
IX-16 OccupancyPrograms $9,507,133 · Management $275,337$9,782,470
IX-17 TravelPrograms $6,774,608 · Management $850,874$7,625,482
IX-19 Conferences, conventions and meetingsPrograms $4,261,935 · Management $631,785$4,893,720
IX-22 Depreciation, depletion and amortizationPrograms $25,496,948 · Management $437,866$25,934,814
IX-23 InsurancePrograms $6,727,117 · Management $140,553$6,867,670
IX-24 Other expenses (24a–d)Programs $6,709,548 · Management $1,035,978$7,745,526
IX-25 Total functional expensesPrograms $825,434,413 · Management $26,069,008 · Fundraising $0$851,503,421
Part X · Balance sheet $1,245,975,964 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $1,185,830$1,066,020
X-2 Savings and temporary cash investmentsStart of year $574,830,383$697,591,944
X-4 Accounts receivableStart of year $123,271,577$87,076,784
X-9 Prepaid expenses and deferred chargesStart of year $33,843,481$32,744,668
X-10c Land, buildings and equipment, netStart of year $52,088,663$48,362,120
X-12 Other securitiesStart of year $142,891,075$164,032,375
X-14 Intangible assetsStart of year $62,045,022$95,127,319
X-15 Other assetsStart of year $136,631,051$119,974,734
X-16 Total assetsStart of year $1,126,787,082$1,245,975,964
X-17 Accounts payable and accrued expensesStart of year $252,808,106$179,884,079
X-19 Deferred revenueStart of year $1,010,292$3,928,629
X-25 Other liabilitiesStart of year $84,347,142$84,728,854
X-26 Total liabilitiesStart of year $809,648,702$913,830,869
X-27 Net assets without donor restrictionsStart of year $317,138,380$332,145,095
X-32 Total net assets or fund balancesStart of year $317,138,380$332,145,095
X-33 Total liabilities and net assetsStart of year $1,126,787,082$1,245,975,964
Part XI · Reconciliation of net assets $332,145,095 net assets at year end
XI-1 Total revenue$862,659,881
XI-2 Total expenses$851,503,421
XI-3 Revenue less expenses$11,156,460
XI-4 Net assets at start of year$317,138,380
XI-5 Net unrealized gains (losses) on investments$2,229,346
XI-9 Other changes in net assets$1,620,909
XI-10 Net assets at end of year$332,145,095

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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