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Builders Exchange Benefit Plan Trust FY2023 filing

Valley View, OHUnknown exempt organization EIN 47-2303889Revenue $8.6M in FY2023

On file with the IRSbxohio.com9555 Rockside Road 300 · Valley View, OH

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The organization is a multiple employer welfare arrangement (mewa) which provides medical and prescription drug benefits for its members.

Mission: Form 990 Part I, line 1

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
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
2 of 5
filings with a surplus
Average surplus $2K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7.7M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.6M
-4% vs prior year
Spent
$8.4M
Net assets
$778K
By yearFY2020–FY2024
Revenue
$8.6M
FY2023▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$9.3M
FY2021$9.2M
FY2022$8.9M
FY2023$8.6M
FY2024$59K
Expenses
$8.4M
FY2023▼ -7%
Tap a bar for its year
Expenses by fiscal year
FY2020$9.0M
FY2021$9.3M
FY2022$9.0M
FY2023$8.4M
FY2024$340K
Net assets
$778K
FY2023▲ +30%
Tap a bar for its year
Net assets by fiscal year
FY2020$987K
FY2021$618K
FY2022$599K
FY2023$778K
FY2024$0

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Ashley Grandetti
Chair and Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John Grandetti
Plan Administrator
$0Pt VII · Sec A
See Builders Exchange Benefit Plan Trust executive salaries →

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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 15aNo

Programs and updates

Offers medical and prescription drug benefits to its members.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Provision of medical and prescription drug benefits for its members.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$8.6M
Ln 12
Fees for servicesLn 2g$8.6M
Investment incomeLn 3$62K
Money outPt IX
$8.4M
Ln 25
Owns and owesPt X
$778K
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$8.4M
LiabilitiesLn 26$7.7M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$8.6M
Investment incomeLn 3$62K
Total revenueLn 12$8.6M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$3.1M
Cash and savings togetherLn 1–2$3.1M
Other assetsLn 15$5.3M
Total assetsLn 16$8.4M
LiabilitiesLn 26$7.7M
Net assetsLn 32$778K
OperationsPt I, VI
EmployeesI 50
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 FY23End FY23
Cash and savingsLn 1–2$1.2M$3.1M
Total assetsLn 16$8.1M$8.4M
LiabilitiesLn 26$7.5M$7.7M
Net assetsLn 32$599K$778K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$7.6M
Management feesLn 11a$726K
Legal feesLn 11b$6K
Accounting feesLn 11c$41K
Investment management feesLn 11f$2K
InsuranceLn 23$14K
Total functional expensesLn 25$8.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $59K$340K−$281K$0 990 PDF
FY2023 Viewing $8.6M$8.4M$179K$778K 990 PDF
FY2022 $8.9M$9.0M−$97K$599K 990 PDF
FY2021 $9.2M$9.3M−$69K$618K 990 PDF
FY2020 $9.3M$9.0M$279K$987K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $8,616,060 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $8,937,437$8,553,758
I-10 Investment incomePrior year $4,882$62,302
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $8,942,319$8,616,060
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $8,102,922$7,647,666
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $936,327$789,444
I-18 Total expensesPrior year $9,039,249$8,437,110
I-19 Revenue less expensesPrior year −$96,930$178,950
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $8,616,060 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,553,758$8,553,758
VIII-3 Investment incomeUnrelated business $62,302$62,302
VIII-12 Total revenueRelated to mission $8,553,758 · Unrelated business $62,302 · Excluded from tax $0$8,616,060
Part IX · Statement of functional expenses $8,437,110 across 6 lines filed
IX-4 Benefits paid to or for members$7,647,666
IX-11a Management fees$725,942
IX-11b Legal fees$6,073
IX-11c Accounting fees$40,668
IX-11f Investment management fees$2,347
IX-23 Insurance$14,414
IX-25 Total functional expenses$8,437,110
Part X · Balance sheet $8,432,902 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $200,000$0
X-2 Savings and temporary cash investmentsStart of year $956,468$3,137,727
X-4 Accounts receivableStart of year $6,425$0
X-9 Prepaid expenses and deferred chargesStart of year $182$4,112
X-15 Other assetsStart of year $6,889,619$5,291,063
X-16 Total assetsStart of year $8,052,694$8,432,902
X-17 Accounts payable and accrued expensesStart of year $23,215$541,676
X-19 Deferred revenueStart of year $1,903$0
X-25 Other liabilitiesStart of year $7,428,563$7,113,263
X-26 Total liabilitiesStart of year $7,453,681$7,654,939
X-27 Net assets without donor restrictionsStart of year $599,013$777,963
X-32 Total net assets or fund balancesStart of year $599,013$777,963
X-33 Total liabilities and net assetsStart of year $8,052,694$8,432,902
Part XI · Reconciliation of net assets $777,963 net assets at year end
XI-1 Total revenue$8,616,060
XI-2 Total expenses$8,437,110
XI-3 Revenue less expenses$178,950
XI-4 Net assets at start of year$599,013
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$777,963

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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