2025-05-13T10:18:56-05:00 2024-06-30 570381582 ELLIOTT DAVIS PLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2023-07-01 911839164 SOUTH CAROLINA MEDICAL ASSOCIATION MEMBERS' INSURANCE TRUST SOUT 8037986209 132 WESTPARK BLVD COLUMBIA SC 29210 MICHELLE BOLIN CFO/COO 8037986209 2025-05-07 1 0 JANICE A RATICA P00358837 7043338881 2025-05-13 2023 2025-03-06 01:10:19Z M BOLIN AND D SITTERLE 132 WESTPARK BLVD COLUMBIA SC 29210 28314614 0 X N/A X 1981 SC THE TRUST PROVIDES HEALTH AND LIFE INSURANCE BENEFITS COVERING MEMBERS OF THE MEDICAL PROFESSION (CONTINUED)... AND THEIR FULL-TIME EMPLOYEES. 4 4 0 5 716312 611752 0 0 28010810 27595220 245200 716312 6146 3082 28262156 28314614 0 0 25616567 24632539 0 0 0 0 0 4397103 4629638 30013670 29262177 -1751514 -947563 27628266 26564402 5862093 5745792 21766173 20818610 TO PROVIDE MEDICAL AND DENTAL BENEFITS AND LIFE INSURANCE BENEFITS COVERING MEMBERS OF THE MEDICAL PROFESSION AND THEIR FULL-TIME EMPLOYEES. 0 0 SCMA HAS FORMED A VEBA UNDER IRC SECTION 501(C)(9) TO PROVIDE MEDICAL, DENTAL, ACCIDENTAL DEATH/DISMEMBERMENT, HOSPITAL, CRITICAL ILLNESS, VISION, ACCIDENT AND LIFE BENEFITS. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 1 0 0 1 X 6 0 0 1 1 0 0 0 0 0 0 0 X 4 4 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MICHELLE BOLIN CPA 8037986207 132 WESTPARK BLVD COLUMBIA SC 29210 JAMES D DALTON JR MD TRUSTEE 7/23-12/23 1.00 X 0 0 0 PAUL ESPINOZA MD TRUSTEE 1.00 X 0 0 0 NELSON PLOCH MD TRUSTEE 1.00 X 0 0 0 LESLIE WILKE MD TRUSTEE 1.00 X 0 0 0 JOSH WILSON MD TRUSTEE 1.00 X 0 0 0 MICHELLE C BOLIN CFO/COO 15.00 22.50 X 0 290720 45154 RICHELE KEEL TAYLOR CLO 9.25 28.25 X 0 296846 45363 BRANDT SMITH VP OF IT 10.00 27.50 X 0 135297 36126 DYLAN SITTERLE EXECUTIVE DIRECTOR - MIT 37.50 X 0 128540 18390 0 851403 145033 0 0 1 0 PLANNED ADMINISTRATORS INC PO BOX 6927 COLUMBIA SC 29260 THIRD PARTY ADMIN. 1399325 SOUTH CAROLINA MEDICAL ASSOCIATION 132 WESTPARK BLVD COLUMBIA SC 29210 MANAGEMENT AND PROPERTY RENTAL 1135870 FULCRUM RISK SOLUTIONS INC 132 WESTPARK BLVD COLUMBIA SC 29210 INSURANCE BROKER 823009 MGIS 111 SOUTH MAIN STREET STE 400 SALT LAKE CITY UT 84111 INSURANCE BROKER 446269 SUNLIFE PO BOX 807009 KANSAS CITY MO 64184 INSURANCE BROKER 436991 5 MEMBER CONTRIBUTIONS 900001 27595220 27595220 27595220 716312 716312 MISCELLANEOUS INCOME 900001 3082 3082 3082 28314614 27598302 716312 0 X 24632539 830995 33168 101001 262919 36451 8951 47159 258 4087 524442 ACCESS FEES 890096 COMMISSIONS 823009 REINSURANCE FEES 640539 UBTI TAX EXPENSE 263199 163364 29262177 16217571 4987480 7443209 16443597 140794 554573 641590 633760 11917 7830 3814775 4570922 27628266 26564402 755542 793180 5106551 4952612 5862093 5745792 X 0 0 0 0 21766173 20818610 21766173 20818610 27628266 26564402 -947563 0 X X 0 1 X 1 0 244310 243763 547 397280 389997 7283 7830 ACCOUNTS RECEIVABLE - EMPLOYER CONTRIBUTIONS 1819345 REBATES RECEIVABLE 2751577 4570922 UNEARNED CONTRIBUTIONS 2189612 RESERVE FOR HEALTH CLAIMS 2763000 4952612 X 28314614 0 28314614 0 28314614 29277129 14952 14952 29262177 0 29262177 PART X, LINE 2: US GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PLAN BENEFIT OBLIGATION 14,952. 0 0 0 RICHELE KEEL TAYLOR CLO 0 296846 0 0 0 0 0 9016 0 36347 0 342209 0 0 MICHELLE C BOLIN CFO/COO 0 285720 0 5000 0 0 0 8828 0 36326 0 335874 0 0 BRANDT SMITH VP OF IT 0 131385 0 3912 0 0 0 4037 0 32089 0 171423 0 0 PART I, LINE 3 SCMA MIT HAS ENTERED INTO A MANAGEMENT SERVICE AGREEMENT WITH SOUTH CAROLINA MEDICAL ASSOCIATION FOR THE PROVISION OF MANAGEMENT AND ADMINISTRATIVE SERVICES. THE SOUTH CAROLINA MEDICAL ASSOCIATION EXECUTIVE COMMITTEE FOLLOWS A REBUTTABLE PRESUMPTION PROCESS INVOLVING THE USE OF COMPENSATION EXPERTS, OPINIONS, AND SURVEY DATA TO CONFIRM THAT THE COMPENSATION PAID PURSUANT TO A WRITTEN CONTRACT IS REASONABLE AND CONSISTENT WITH FAIR MARKET VALUE. THE SCMA MIT OFFICERS AND KEY EMPLOYEES' COMPENSATION IS DETERMINED BASED ON INFORMATION FROM A THIRD PARTY EXPERT ON COMPENSATION PROVIDED EVERY FIVE YEARS BY THE SCMA, AND ALSO BY ANNUAL REVIEWS OF EMPLOYEES. COMPENSATION DECISIONS ARE REVIEWED AND APPROVED BY THE TRUSTEES AND ARE DOCUMENTED IN TRUSTEES MEETING MINUTES THROUGH REVIEW OF CONTRACTUAL EXPENSES. SOUTH CAROLINA MEDICAL ASSOCIATION PLAN SPONSOR 877197 MANAGEMENT AND PROPERTY RENTAL SERVICES AS AN INDEPENDENT CONTRACTOR. THE SERVICE TRANSACTION IS NEGOTIATED AT ARM'S LENGTH AND IS AT FMV. 0 FULCRUM RISK SOLUTIONS INC ENTITY MORE THAN 35% OWNED BY PLAN SPONSOR 823009 COMMISSIONS, WHICH ARE NEGOTIATED AT ARM'S LENGTH AND ARE AT FMV. 0 FORM 990, PART V, LINE 2A: MIT PAYS MANAGEMENT FEES AND ADMINISTRATIVE FEES TO SCMA TO COVER PERSONNEL SERVICES AND RELATED BENEFITS AND OTHER MANAGEMENT RELATED EXPENSES. FORM 990, PART VI, SECTION A, LINE 3 MIT PAYS MANAGEMENT FEES AND ADMINISTRATIVE FEES TO SCMA TO COVER PERSONNEL SERVICES AND RELATED BENEFITS AND OTHER MANAGEMENT RELATED EXPENSES. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS MEMBERS WHO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE FORM 990 AND 990-T IS REVIEWED BY THE CFO, CHIEF LEGAL COUNSEL, AND OUTSIDE COUNSEL. THE DRAFT COPY IS THEN DISTRIBUTED TO THE TRUSTEES OF THE TRUST FOR COMMENTS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS THE ANNUAL CONFLICT OF INTEREST DISCLOSURES SUBMITTED BY EACH TRUSTEE. ANY CONFLICTS ARE RESOLVED AND/OR ADDRESSED IN THE MINUTES OF THE ORGANIZATION. IN THE EVENT OF A POTENTIAL CONFLICT, THE TRUSTEE WITH THE POTENTIAL CONFLICT RECUSES HIMSELF/HERSELF FROM THE DISCUSSIONS AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 MIT HAS ENTERED INTO A MANAGEMENT SERVICE AGREEMENT WITH SOUTH CAROLINA MEDICAL ASSOCIATION FOR THE PROVISION OF MANAGEMENT AND ADMINISTRATIVE SERVICES. THE SOUTH CAROLINA MEDICAL ASSOCIATION EXECUTIVE COMMITTEE FOLLOWS A REBUTTABLE PRESUMPTION PROCESS INVOLVING THE USE OF COMPENSATION EXPERTS, OPINIONS, AND SURVEY DATA TO CONFIRM THAT THE COMPENSATION PAID IS REASONABLE AND CONSISTENT WITH FAIR MARKET VALUE. THE SCMA MIT OFFICER AND KEY EMPLOYEES' COMPENSATION IS DETERMINED BASED ON INFORMATION FROM A THIRD PARTY EXPERT ON COMPENSATION PROVIDED EVERY FIVE YEARS BY THE SCMA, AND ALSO BY ANNUAL REVIEWS OF EMPLOYEES. COMPENSATION DECISIONS ARE REVIEWED AND APPROVED BY THE BOARD AND ARE DOCUMENTED IN BOARD MEETING MINUTES THROUGH REVIEW OF CONTRACTUAL EXPENSES. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST, THE ANNUAL REPORT IS AVAILABLE FROM DYLAN SITTERLE, EXECUTIVE DIRECTOR. FORM 990, PART IX, LINE 24E DUES & SUBSCRIPTIONS 163,184. MISCELLANEOUS EXPENSE 180. FORM 990, PART XII, LINE 2C: RESPONSIBILITY FOR OVERSIGHT OF AUDIT TRUSTEES OF THE SOUTH CAROLINA MEDICAL ASSOCIATION MEMBERS' INSURANCE TRUST AND SOUTH CAROLINA MEDICAL ASSOCIATION'S (RELATED PARTY) FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT PROCESS. 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