2024-02-14T14:11:27-06:00 2023-07-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2022-08-01 846513736 HOME BUILDERS ASSOCIATION OF SOUTH CAROLINA GROUP TRUST INSURANCE HOME 8037717408 625 TAYLOR STREET SUITE A COLUMBIA SC 29201 MARK NIX EXECUTIVE DIRECTOR 8037717408 2024-02-13 1 MARK NIX XXX-XX-XXXX 0 KAREN COLSCH CPA P00106450 7049985200 2024-02-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARK NIX 625 TAYLOR STREET SUITE A COLUMBIA SC 29201 6420123 0 X HTTP://HBAOFSC.COM/HEALTHCARE X 2019 SC TO PROVIDE GROUP HEALTH INSURANCE AND OTHER WELFARE BENEFITS. 5 5 0 0 0 0 0 0 5534573 6420123 0 0 0 0 5534573 6420123 0 0 5424463 6259080 0 0 0 0 0 55074 142411 5479537 6401491 55036 18632 181067 197080 41698 39079 139369 158001 X TO PROVIDE GROUP HEALTH INSURANCE AND OTHER WELFARE BENEFITS TO THE EMPLOYEES OF HOME BUILDERS ASSOCIATION OF SOUTH CAROLINA MEMBER EMPLOYERS BY ISSUANCE OF ONE OR MORE FULLY INSURED INSURANCE POLICIES. 0 0 BEGINNING AUGUST 1, 2019, THE HOME BUILDERS ASSOCIATION OF SOUTH CAROLINA GROUP INSURANCE TRUST (THE TRUST) BEGAN OFFERING GROUP HEALTH INSURANCE AND OTHER WELFARE BENEFITS TO THE EMPLOYEES OF THE HOME BUILDERS ASSOCIATION OF SOUTH CAROLINA (HBASC) MEMBER EMPLOYERS BY ISSUANCE OF ONE OR MORE FULLY INSURED INSURANCE POLICIES.THE TRUST PROGRAM IS OVERSEEN BY AN ELECTED BOARD OF TRUSTEES (TRUSTEES). THE TRUSTEES TOGETHER WITH HBASC PERFORM ALL OF THE ACTIVITIES REQUIRED TO ADMINISTER THE TRUST AND MAKE DECISIONS ON THE ON-GOING OPERATIONS OF THE TRUST IN THE BEST INTEREST OF THE PARTICIPANTS. - THE SELECTION OF INSURANCE CARRIERS, BENEFIT PLANS AND BENEFIT LEVELS IN SOME SITUATIONS;- THE SELECTION AND APPOINTMENT OF VENDORS INCLUDING BANKING SERVICES, CONTRACT ADMINISTRATOR, INVESTMENT MANAGER IF NEEDED, AUDITOR, AND ATTORNEY;- THE MARKETING OF THE PROGRAM INCLUDING THE DEVELOPMENT OF COMMUNICATION MATERIALS, AND THE USE OF OUTSIDE AGENTS IF NEEDED; AND- THE GENERAL MANAGEMENT OF TRUST FUNDS AND ASSETS. 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 1 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 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X MARK NIX 8037717408 625 TAYLOR STREET SUITE A COLUMBIA SC 29201 MARK NIX EXECUTIVE DIRECTOR 5.00 X 0 176000 0 ROB CLEMONS TRUSTEE 0.25 X 0 0 0 WAYNE MOORE TRUSTEE 0.25 X 0 0 0 DAVID TUTTLE TRUSTEE 0.25 X 0 0 0 LOUIE HOPKINS TRUSTEE 0.25 X 0 0 0 0 176000 0 0 0 1 0 0 MEMBER CONTRIBUTIONS 525100 6255897 6255897 SERVICE FEES 525100 127948 127948 EMPLOYEE CONTRIBUTIONS 525100 36278 36278 6420123 6420123 6420123 0 0 6259080 1011 27795 4720 6635 MARKETING AND OTHER ADM 102250 6401491 163437 178558 17630 18522 181067 197080 24089 398 17609 38681 41698 39079 X 0 0 0 0 139369 158001 139369 158001 181067 197080 18632 0 X X 0 1 X 1 0 0 MEMBER CONTRIBUTIONS RECEIVED IN ADVANCE 38681 38681 X 6420123 0 6420123 0 6420123 6401491 0 6401491 0 6401491 PART X, LINE 2: THE VEBA TRUST FUNDING CERTAIN BENEFITS OF THE TRUST RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) DATED SEPTEMBER 6, 2022, 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 POLICY, FROM TIME TO TIME THE TRUST MAY BE SUBJECT TO INCOME TAXES. NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED FOR THE YEAR ENDED JULY 31, 2023. IN ADDITION, THE TRUST AND THE VEBA TRUST ARE REQUIRED TO OPERATE IN CONFIRMITY WITH THE IRC TO OBTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE TRUST ADMINISTRATOR BELIEVES THAT THE TRUST IS OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THAT THE TRUST QUALIFES FOR TAX-EXEMPTION. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE 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 NOT 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. 0 0 0 MARK NIX EXECUTIVE DIRECTOR 0 176000 0 0 0 0 0 0 0 0 0 176000 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE MEMBER BENEFITS DIRECTOR REVIEWS THE FORM 990 AND THEN PROVIDES A COPY OF THE 990 TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. PART XII LINE 2C THE BOARD OF TRUSTEES REVIEWS THE FINANCIAL STATEMENTS AND TAKES RESPONSIBILITY FOR THEM. 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