Nonprofit · EIN 04-2628271
MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST
Tax-exempt · BOSTON, MA 02109
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $210,718 | $129,856 | $80,862 | $5,524,647 | $92,375 | $5,432,272 |
| December 31, 2024 | 990 | $172,130 | $120,278 | $51,852 | $4,987,714 | $81,210 | $4,906,504 |
| December 31, 2023 | 990 | $169,616 | $200,529 | -$30,913 | $5,054,551 | $71,880 | $4,982,671 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $33,855
- Investment income
- $176,863
- Net gain from sales of assets
- $45,899
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $7,824
- Accounting fees
- $22,395
Balance sheet and other
- Total assets, start of year
- $4,987,714
- Total assets, end of year
- $5,524,647
- Total liabilities, end of year
- $92,375
- Net assets, end of year
- $5,432,272
- Publicly traded securities
- $5,173,429
- Gross unrelated business income
- $173,732
- Gross receipts
- $3,007,988
- Employees
- 0
- Volunteers
- 14
- Year formed
- 1953
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHERYL CORMAN | CO-CHAIR/TRUSTEE Trustee or director, Officer | 1 | $0 |
| BRETT DEAN | CHAIRMAN/TRUSTEE Trustee or director, Officer | 1 | $0 |
| CHUCK LEACH | TRUSTEE Trustee or director | 1 | $0 |
| KARA CLARK | TRUSTEE Trustee or director | 1 | $0 |
| MICHAEL R WHEELER | TRUSTEE Trustee or director | 1 | $0 |
| MARIA VAFIADES | TRUSTEE Trustee or director | 1 | $0 |
| MATTHEW BURKE | TRUSTEE Trustee or director | 1 | $0 |
| JAMES FERRARA | TRUSTEE Trustee or director | 1 | $0 |
| KATHLEEN MURPHY | TREASURER/TRUSTEE Trustee or director, Officer | 1 | $0 |
| MARGARET SULLIVAN | TRUSTEE Trustee or director | 1 | $0 |
| WILLIAM TSOULES | SVP/CFO (ENDED 03/2025) Officer | 1 | $0 |
| CHAD POOK | VP OF ADMINISTRATION Officer | 1 | $0 |
| TANYA DUNCAN | EVP, REVENUE & STRATEGY Officer | 1 | $0 |
| JOESEPH T COLAGIOVANNI | SVP/CFO (AS OF 06/2025) Officer | 1 | $0 |
990 for the year ended December 31, 2024: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHERYL CORMAN | CO-CHAIR/TRUSTEE Trustee or director, Officer | 1 | $0 |
| BRETT DEAN | CHAIRMAN/TRUSTEE Trustee or director, Officer | 1 | $0 |
| CHUCK LEACH | TRUSTEE Trustee or director | 1 | $0 |
| KARA CLARK | TRUSTEE Trustee or director | 1 | $0 |
| MICHAEL R WHEELER | TRUSTEE Trustee or director | 1 | $0 |
| MARIA VAFIADES | TRUSTEE Trustee or director | 1 | $0 |
| MATTHEW BURKE | TRUSTEE Trustee or director | 1 | $0 |
| JAMES FERRARA | TRUSTEE Trustee or director | 1 | $0 |
| KATHLEEN MURPHY | TREASURER/TRUSTEE Trustee or director, Officer | 1 | $0 |
| MARGARET SULLIVAN | TRUSTEE Trustee or director | 1 | $0 |
| WILLIAM TSOULES | SVP/CFO Officer | 1 | $0 |
| CHAD POOK | VP OF ADMINISTRATION Officer | 1 | $0 |
| TANYA DUNCAN | EVP, REVENUE & STRATEGY Officer | 1 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHERYL CORMAN | CO-CHAIR/TRUSTEE Trustee or director, Officer | 1 | $0 |
| BRETT DEAN | CHAIRMAN/TRUSTEE Trustee or director, Officer | 1 | $0 |
| CHUCK LEACH | TRUSTEE Trustee or director | 1 | $0 |
| KARA CLARK | TRUSTEE Trustee or director | 1 | $0 |
| MICHAEL R WHEELER | TRUSTEE Trustee or director | 1 | $0 |
| MARIA VAFIADES | TRUSTEE Trustee or director | 1 | $0 |
| MATTHEW BURKE | TRUSTEE Trustee or director | 1 | $0 |
| JAMES FERRARA | TRUSTEE Trustee or director | 1 | $0 |
| KATHLEEN MURPHY | TREASURER/TRUSTEE Trustee or director, Officer | 1 | $0 |
| MARGARET SULLIVAN | TRUSTEE Trustee or director | 1 | $0 |
| WILLIAM TSOULES | SVP/CFO Officer | 1 | $0 |
| CHAD POOK | DIRECTOR OF ADMIN Officer | 1 | $0 |
| TANYA DUNCAN | COO Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 200 STATE ST STE 701, BOSTON, MA 02109-2655
- In care of
- % FRANCESCA BERTOLINO
- Principal officer (990 for 2025)
- JOSEPH T COLAGIOVANNI, 200 STATE STREET SUITE 701, BOSTON, MA 02109
- Signed the 990
- JOSEPH T COLAGIOVANNI, SVP/CFO
- Phone
- (617) 523-7595
- Return prepared by
- WOLF & COMPANY PC
Mission
THE TRUST IS OPERATED FOR THE PURPOSE OF PROVIDING VARIOUS TYPES OF INSURANCE TO MEMBER BANKS' EMPLOYEES AT COSTS WHICH ARE LESS THAN THOSE OBTAINABLE ON AN INDIVIDUAL BANK BASIS.
Program accomplishments
- PROVIDE INSURANCE COVERAGE TO MEMBER BANKS' EMPLOYEES
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-2628271
- Tax-exempt status
- 501(c)(9): Voluntary employees' beneficiary association
- Donations deductible
- No
- Exempt since
- 1977
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $5,524,647
- Income (IRS master file)
- $3,007,988
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $210,718 | $129,856 | $5,524,647 | XML |
| 990 | December 2024 | $172,130 | $120,278 | $4,987,714 | IRS |
| 990 | December 2023 | $169,616 | $200,529 | $5,054,551 | XML |
| 990 | December 2022 | $176,489 | $78,093 | $5,036,501 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-2628271).
Questions about MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST
- What is the EIN of MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST?
- The employer identification number (EIN) of MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST is 04-2628271.
- Is MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(9) since 1977.
- Are donations to MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST?
- The 990 for the year ended December 31, 2025 names JOSEPH T COLAGIOVANNI.
- Who are the officers and directors of MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST?
- The 990 for the year ended December 31, 2025 lists 14 people; 0 received compensation from the organization.
- How much revenue does MASSACHUSETTS BANKERS ASSOC INC GROUP INSURANCE TRUST have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $210,718, expenses of $129,856 and total assets of $5,524,647 at year end.
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