2023-11-16T09:57:38-06:00 2022-12-31 440160260 FORVIS LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2022-01-01 526737391 NTCA REGIONAL RETIREE MEDICAL FUNDING TRUST I C/O NAT'L TELECOMMUN COOP ASSOC NATI 7033512000 4121 WILSON BOULEVARD ARLINGTON VA 22203 SHIRLEY BLOOMFIELD NTCA CHIEF EXECUTIVE OFFICER 7033512000 2023-11-16 1 SHIRLEY BLOOMFIELD 999009999 0 AMY BIBBY P00445891 8282542254 2023-11-16 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SHIRLEY BLOOMFIELD 4121 WILSON BOULEVARD ARLINGTON VA 22203 8480019 0 X N/A X 1993 DC TO ACT AS AN ADEQUATE FUNDING VEHICLE FOR ASSISTING ITS MEMBERS IN PROVIDING BENEFITS. 8 8 0 8 0 0 0 0 1550000 610206 7321579 4564244 0 0 8871579 5174450 0 0 0 4644651 0 0 0 0 0 47621 50186 47621 4694837 8823958 479613 140891241 113913781 0 17213 140891241 113896568 TO PROVIDE NTCA MEMBER COMPANIES DOMICILED IN NORTH CAROLINA, SOUTH CAROLINA, AND TENNESSEE WITH A FUNDING VEHICLE TO HELP MEET THEIR LIABILITIES FOR SICKNESS, ACCIDENT AND OTHER WELFARE BENEFITS FOR ELIGIBLE CURRENT AND FORER EMPLOYEES UPON RETIREMENT. 0 0 PROVIDED CERTAIN NTCA MEMBER SYSTEMS DOMICILED IN THE STATES OF NORTH CAROLINA, SOUTH CAROLINA AND TENNESSEE WITH A FUNDING VEHICLE TO HELP MEET THEIR LIABILITIES FOR SICKNESS, ACCIDENT, AND OTHER WELFARE BENEFITS PROVIDED FOR ELIGIBLE CURRENT AND FORMER EMPLOYEES UPON RETIREMENT. 0 0 0 0 0 0 0 0 0 0 1 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 8 8 0 1 0 0 1 0 0 1 0 0 0 0 1 1 1 1 1 0 0 0 X MANO KOILPILLAI 7033512000 CHIEF FINANCIAL OFFICER WILSON BOULEVARD VA 22203 X THOMAS E PRESTON CHAIR 1.00 1.00 X X 0 0 0 JIMMY TODD VICE CHAIR 1.00 1.00 X X 0 0 0 DUSTIN DURDEN TRUSTEE 1.00 1.00 X 0 0 0 JENNIFER L PRATHER TRUSTEE 1.00 1.00 X 0 0 0 HOLLY UTKE TRUSTEE 1.00 1.00 X 0 0 0 CANDACE WRIGHT TRUSTEE 1.00 1.00 X 0 0 0 KEVIN BEYER TRUSTEE 1.00 6.00 X 0 0 0 CRYSTAL MORLEY TRUSTEE 1.00 1.00 X 0 0 0 SHIRLEY BLOOMFIELD CHEIF EXECUTIVE OFFICER 1.00 42.50 X 0 989833 272646 MAN KOILPILLAI NTCA CHIEF FINANCIAL OFFICER 1.00 42.50 X 0 238072 44483 0 1227905 317129 0 0 1 0 0 RETIREMENT FUNDING 900099 610206 610206 610206 3130055 3130055 4739758 3305569 1434189 1434189 1434189 5174450 610206 0 4564244 4644651 26775 325 11302 6883 4901 4694837 1366859 288257 3504 5431 117966661 95607817 21554217 18012276 140891241 113913781 708 0 16505 0 17213 X 140891241 113896568 0 0 0 0 140891241 113896568 140891241 113913781 479613 -27474286 0 X X 0 1 X 1 0 0 BLACKROCK LOW VOL GLOBAL EQUITY 18012276 C 18012276 DUE TO NTCA & AFFILIATES 16505 16505 X 3740261 -27474286 26043980 -1430306 5170567 3883 3883 5174450 30734934 26043980 26043980 4690954 3883 3883 4694837 PART X, LINE 2: IN ACCORDANCE WITH SECTION 501(C) OF THE IRC, THE TRUST'S SPONSOR, NTCA, FILED THE REQUIRED NOTIFICATION WITH THE INTERNAL REVENUE SERVICE (IRS) FOR A DETERMINATION THAT THE TRUST IS EXEMPT FROM TAX UNDER SECTION 501(C)(9) OF THE IRC. IRC SECTION 501(C)(9) IS REFERRED TO AS A VOUNTARY EMPLOYEE BENEFICIARY ASSOCIATION (VEBA). ON JUNE 7, 1995, THE TRUST RECEIVED A FAVORABLE RESPONSE FROM THE IRS TO ITS EXEMPTION LETTER REQUEST. THE TRUST HAS NOT BEEN AMENDED AFTER RECEIPT OF THE LATEST EXEMPTION LETTER. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE TRUST MANAGEMENT TO EVALUATE 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS INCLUDED IN EXPENSES 26,043,980. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS INCLUDED IN EXPENSES 26,043,980. 0 1 0 SHIRLEY BLOOMFIELD CHEIF EXECUTIVE OFFICER 0 826600 0 161851 0 1382 0 246324 0 26322 0 1262479 0 0 MAN KOILPILLAI NTCA CHIEF FINANCIAL OFFICER 0 226738 0 11234 0 100 0 12490 0 31993 0 282555 0 0 PART I, LINE 3 THE ORGANIZATION'S TOP MANAGEMENT OFFICIALS ARE EMPLOYED AND COMPENSATED BY NATIONAL TELECOMMUNICATIONS COOPERATIVE ASSOCIATION (NTCA), A REATED ORGANIZATION, AND REGIONAL RETIREE MEDICAL FUNDING TRUST I RELIES ON NTCA TO ESTABLISH REASONABLE COMPENSATION. THE CHIEF EXECUTIVE OFFICER'S COMPENSATION IS REVIEWED BY AN INDEPENDENT COMPENSATION CONSULTANT THAT DOES A COMPARISON OF LIKE POSITIONS IN THE AREA AND PRESENTS THE STUDY TO THE NTCA BOARD FOR APPROVAL. THIS PROCESS IS DOCUMENTED IN THE BOARD MEETING MINUTES. THIS PROCESS WAS LAST CONDUCTED IN 2018. HOWEVER, THE ANNUAL SALARY INCREASE AND BONUS FOR THE CEO ARE APPROVED BY THE BOARD EVERY YEAR WHILE THE INDEPENDENT CONSULTANT STUDY IS BEING DONE ONCE EVERY FIVE YEARS. OTHER OFFICERS AND KEY EMPLOYEES' COMPENSATION IS REVIEWED BY A COMPENSATION CONSULTANT EVERY FIVE YEARS. CHANGES IN COMPENSATION ARE PRESENTED AND APPROVED BY THE CHIEF EXECUTIVE OFFICER. THIS PROCESS WAS LAST REVIEWED INTERNALLY BY THE ASSOCIATION IN 2020. PART I, LINE 4B SHIRLEY BLOOMFIELD - $178,674 - 457(F) PLAN CONTRIBUTION IN 2022. FORM 990, PART VI, SECTION A, LINE 3 THE EXECUTIVE COMMITTEE HAS HIRED SMC (SERVICES MANAGEMENT COOPERATION) TO ADMINISTER THE DAILY OPERATION OF THE TRUST AND TO REPORT BACK TO THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 THE MEDICAL FUNDING TRUST I HAS MEMBERS WHO PAY INTO THE PROGRAM FOR FUTURE BENEFITS FOR ITS EMPLOYEES. VEBA STATUS AND MEMBERSHIP: THE TRUST IS INTENDED TO CONSTITUTE, AND THE TRUSTEE MAY ASSUME THE TRUST IS, A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION EXEMPT FROM FEDERAL INCOME TAXATION UNDER SECTION 501(C)(9) OF THE CODE, AND SHALL BE INTERESTED IN A MANNER CONSISTENT WITH THIS INTENT. THE MEMBERS OF THE TRUST SHALL BE TE PARTICIPANTS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY BOTH THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TRUST'S CONFLICT OF ITEREST POLICY APPLIES TO ALL BOARD MEMBERS AND OFFICERS. WHEN A PERSON BECOMES AWARE OF AN ACTUAL OR POTENTIAL CONFLICT, THEY DISCLOSE ALL RELEVANT INFORMATION TO THE BOARD CHAIR OR VICE CHAIR, REMOVE THEMSELVES FROM ALL DISCUSSIONS OF THE MATTER, AND REMOVE THEMSELVES FROM ALL VOTES ON THE MATTER. THE BOARD MAY VOTE TO ENTER THE TRANSACTION IF IT DETERMINES THAT THE TRANSACTION IS IN THE ASSOCIATION'S BEST INTEREST. ALL RELEVANT INFORMATION IS DOCUMENTED IN THE MEETING MINUTES. IF A PERSON VIOLATES THE ASSOCIATION'S CONFLICT OF INTEREST POLICY, THEY INFORM THE PRESIDENT OF THE BOARD AND THE ASSOCIATION'S GENERAL COUNSEL, WHO TAKE APPROPRIATE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE MEDICAL FUNDING TRUST I DOES NOT HAVE DIRECT EMPLOYEES. THE TRUSTEE COMMITTEE HAS HIRED SERVICE MANAGEMENT CORPORATION TO ADMINISTER THE DAILY OPERATIONS OF THE TRUST AND REPORT BACK TO THE TRUSTEE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE TRUST MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE TRUST DOES NOT HVE A CONFLICT OF INTEREST POLICY. FORM 990, PART VII: THE COMPENSATED OFFICERS LISTED IN FORM 990, PART VII WERE COMPENSATED THROUGH NATIONAL TELECOMMUNICATIONS COOPERATIVE ASSOCIATION. THE HOURS PER WEEK INDICATED IN FORM 990, PART VII FOR THESE OFFICERS ARE FOR NATIONAL TELECOMMUNICATIONS COOPERATIVE ASSOCIATION AND ITS RELATED ENTITIES AND TRUST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGES FROM THE PRIOR YEAR. NATIONAL TELECOMMUNICATIONS COOPERATIVE ASSOCIATION (NTCA) 4121 WILSON BOULEVARD 10TH FLOOR ARLINGTON VA 22203 520741336 TRADE ASSOCIATION VA 501(C)(6) 0 NTCA MASTER TRUST FOR DEFERRED COMP PLANS 4121 WILSON BOULEVARD 10TH FLOOR ARLINGTON VA 22203 566678513 DEFERRED COMPENSATION VA 501(C)(9) NTCA 0 NTCA RETIREMENT AND SECURITY PROGRAM 4121 WILSON BOULEVARD 10TH FLOOR ARLINGTON VA 22203 521558805 DEFINED BENEFIT PLAN VA 501(C)(9) NTCA 0 NTCA SAVINGS PLAN 4121 WILSON BOULEVARD 10TH FLOOR ARLINGTON VA 22203 521522857 DEFINED CONTRIBUTION PLAN VA 501(C)(9) NTCA 0 NTCA REGIONAL RETIREE MEDICAL FUNDING TRUST II 4121 WILSON BOULEVARD 10TH FLOOR ARLINGTON VA 22203 521889144 POST RETIREMENT BENEFITS DC 501(C)(9) NTCA 0 NTCA GROUP HEALTH PROGRAM 4121 WILSON BOULEVARD 10TH FLOOR ARLINGTON VA 22203 521043923 HEALTH BENEFITS VA 501(C)(9) NTCA 0 FOUNDATION FOR RURAL SERVICE 4121 WILSON BOULEVARD 10TH FLOOR ARLINGTON VA 22203 521889647 PROMOTE, EDUCATE, AND ADVANCE RURAL COMMUNICATIONS VA 501(C)(3) NTCA 0 NATIONAL TELECOMMUNICATIONS COOPERATIVE ASSOCIATION RURAL BROADBAND PAC 4121 WILSON BOULEVARD 10TH FLOOR ARLINGTON VA 22203 521674218 VOLUNTARY, NON-PARTISAN POLITICAL ACTION COMMITTEE VA 527 NTCA 0 BEN LOMAND RURAL TELEPHONE COOP PO BOX 670 MCMINNVILLE TN 22203 620532537 POST RETIREMENT BENEFIT PLANS TN 501(C)(12) 0 BLEDSOE TELEPHONE COOP PO BOX 609 338 CUMBERLAND AVENUE PIKEVILLE TN 37367 620526657 POST RETIREMENT BENEFIT PLANS TN 501(C)(12) 0 DEKALB TELEPHONE PO BOX 247 ALEXANDRIA TN 37012 620513986 POST RETIREMENT BENEFIT PLANS TN 501(C)(12) 0 FARMERS TELE COOP INC PO BOX 588 KINGSTREE SC 29556 570335116 POST RETIREMENT BENEFIT PLANS SC 501(C)(12) 0 NORTH CENTRAL TELEPHONE COOP PO BOX 70 LAFAYETTE TN 37083 620516439 POST RETIREMENT BENEFIT PLANS TN 501(C)(12) 0 PIEDMONT RURAL TELEPHONE COOP INC PO BOX 249 LAURENS SC 29360 570328632 POST RETIREMENT BENEFIT PLANS SC 501(C)(12) 0 SANDHILL TELEPHONE COOP PO BOX 519 JEFFERSON SC 29718 570351757 POST RETIREMENT BENEFIT PLANS SC 501(C)(12) 0 TWIN LAKES TELEPHONE COOP PO BOX 67 GAINESBORO TN 38562 POST RETIREMENT BENEFIT PLANS TN 501(C)(12) 0 RANDOLPH TELEPHONE MEMBERSHIP CORP 317 EAST DIXIE DR ASHEBORO NC 27203 POST RETIREMENT BENEFIT PLANS NC 501(C)(12) 0 SURRY TELEPHONE PO BOX 385 DOBSON NC 27017 POST RETIREMENT BENEFIT PLANS NC 501(C)(12) 0 YADKIN VALLEY TELEPHONE PO BOX 368 YADKINVILLE NC 27055 POST RETIREMENT BENEFIT PLANS NC 501(C)(12) 0 SERVICES MANAGEMENT CORPORATION 30 TOWN SQUARE BLVD SUITE 300 ASHEVILLE NC 28801 521200541 ADMINISTER BENEFIT PLANS NC N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 SERVICES MANAGEMENT CORPORATION M 26775 BENCHMARK STUDY