Nonprofit · EIN 37-6082547
ILLINOIS BANKERS GROUP INSURANCE TRUST
Tax-exempt · SPRINGFIELD, IL 62701
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2025 | 990 | $23,077,567 | $24,231,670 | -$1,154,103 | $5,567,409 | $1,890,617 | $3,676,792 |
| March 31, 2024 | 990 | $22,676,036 | $23,591,473 | -$915,437 | $7,103,329 | $2,278,167 | $4,825,162 |
| March 31, 2023 | 990 | $22,260,932 | $22,445,937 | -$185,005 | $7,155,983 | $1,573,459 | $5,582,524 |
Financial details: 990 for the year ended March 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $22,784,688
- Investment income
- $292,879
- Net gain from sales of assets
- $53,036
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $23,563,381
- Other salaries and wages
- $212,870
- Salaries, compensation and benefits (total)
- $257,057
- Professional fundraising fees
- $0
- Legal fees
- $20,684
- Accounting fees
- $19,925
- Travel
- $9,004
Balance sheet and other
- Total assets, start of year
- $7,103,329
- Total assets, end of year
- $5,567,409
- Total liabilities, end of year
- $1,890,617
- Net assets, end of year
- $3,676,792
- Publicly traded securities
- $4,649,609
- Gross receipts
- $29,194,917
- Employees
- 2
- Volunteers
- 0
- Year formed
- 1967
- State of legal domicile
- IL
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 March 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL M MAHORNEY | SENIOR TRUST ADVISOR Highest-paid employee | 40 | $140,262 | $10,600 |
| DANE CLEVEN | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| CRAIG HEPNER | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| KENNETH B ELMORE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| TJ BURGE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| WALTER HASSELBRING III | TRUSTEE Trustee or director | 2 | $0 | $0 |
| JUSTIN FENTRESS | TRUSTEE Trustee or director | 2 | $0 | $0 |
| KATHLEEN MARINANGEL | TRUSTEE Trustee or director | 2 | $0 | $0 |
990 for the year ended March 31, 2024: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL M MAHORNEY | SENIOR TRUST ADVISOR Highest-paid employee | 40 | $134,757 | $9,725 |
| DANE CLEVEN | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| CRAIG HEPNER | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| KENNETH B ELMORE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| TJ BURGE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| WALTER HASSELBRING III | TRUSTEE Trustee or director | 2 | $0 | $0 |
| JUSTIN FENTRESS | TRUSTEE Trustee or director | 2 | $0 | $0 |
| KATHLEEN MARINANGEL | TRUSTEE Trustee or director | 2 | $0 | $0 |
990 for the year ended March 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL M MAHORNEY | SENIOR TRUST ADVISOR Highest-paid employee | 40 | $131,941 | $7,910 |
| DANE CLEVEN | TRUSTEE Trustee or director | 2 | $0 | $0 |
| CRAIG HEPNER | TRUSTEE Trustee or director | 2 | $0 | $0 |
| KENNETH B ELMORE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| TJ BURGE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| WALTER HASSELBRING III | TRUSTEE Trustee or director | 2 | $0 | $0 |
| JUSTIN FENTRESS | TRUSTEE Trustee or director | 2 | $0 | $0 |
| KATHLEEN MARINANGEL | TRUSTEE Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 524 S 2ND ST STE 600, SPRINGFIELD, IL 62701-1751
- Principal officer (990 for 2024)
- DANE CLEVEN, 3201 W WHITE OAKS DRIVE SUITE 400, SPRINGFIELD, IL 62704
- Signed the 990
- MICHAEL MAHORNEY, PLAN ADMINISTRATOR
- Phone
- (217) 789-9340
- Return prepared by
- KERBER ECK & BRAECKEL LLP
Mission
TO PROVIDE LIFE, ACCIDENT, HEALTH, DENTAL, VISION AND DISABILITY INSURANCE FOR ELIGIBLE EMPLOYEES AND RETIREES OF ILLINOIS BANKERS ASSOCIATION MEMBERS.
Program accomplishments
- TO PROVIDE LIFE, ACCIDENT, HEALTH, DENTAL, VISION AND DISABILITY INSURANCE FOR ELIGIBLE EMPLOYEES AND RETIREES OF ILLINOIS BANKERS ASSOCIATION MEMBERS.
- N/A
- N/A
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 March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | Not on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 37-6082547
- Tax-exempt status
- 501(c)(9): Voluntary employees' beneficiary association
- Donations deductible
- No
- Exempt since
- 1968
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $5,567,409
- Income (IRS master file)
- $29,194,917
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2025 | $23,077,567 | $24,231,670 | $5,567,409 | XML |
| 990 | March 2024 | $22,676,036 | $23,591,473 | $7,103,329 | XML |
| 990 | March 2023 | $22,260,932 | $22,445,937 | $7,155,983 | XML |
| 990 | March 2022 | $22,147,999 | $22,573,153 | $7,678,048 | IRS |
| 990 | March 2021 | – | – | – | 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 37-6082547).
Questions about ILLINOIS BANKERS GROUP INSURANCE TRUST
- What is the EIN of ILLINOIS BANKERS GROUP INSURANCE TRUST?
- The employer identification number (EIN) of ILLINOIS BANKERS GROUP INSURANCE TRUST is 37-6082547.
- Is ILLINOIS BANKERS GROUP INSURANCE TRUST tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(9) since 1968.
- Are donations to ILLINOIS BANKERS GROUP INSURANCE TRUST tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ILLINOIS BANKERS 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 ILLINOIS BANKERS GROUP INSURANCE TRUST due?
- The return for tax year 2025 (the year ending March 31, 2026) is due August 17, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ILLINOIS BANKERS GROUP INSURANCE TRUST last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2025.
- Who is the principal officer of ILLINOIS BANKERS GROUP INSURANCE TRUST?
- The 990 for the year ended March 31, 2025 names DANE CLEVEN.
- Who are the officers and directors of ILLINOIS BANKERS GROUP INSURANCE TRUST?
- The 990 for the year ended March 31, 2025 lists 8 people; 1 received compensation from the organization, the highest $140,262 (MICHAEL M MAHORNEY, SENIOR TRUST ADVISOR).
- How much revenue does ILLINOIS BANKERS GROUP INSURANCE TRUST have?
- On its 990 for the year ended March 31, 2025 it reported revenue of $23,077,567, expenses of $24,231,670 and total assets of $5,567,409 at year end.
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