2025-11-11T12:49:56-06:00 2024-12-31 WITHUMSMITHBROWN PC 1835 MARKET STREET SUITE 1710 PHILADELPHIA PA 191032945 990 2024-05-16 846721081 Philabundance Health Benefit Trust % WIL TORRES PHIL 2153390900 3616 South Galloway Street Philadelphia PA 19148 WIL TORRES INTERIM CFO 2153390900 2025-11-17 true true RICHARD RUVELSON P00234075 2155462140 2025-11-17 2024 2025-03-06 01:10:19Z X WIL TORRES 3616 South Galloway Street Philadelphia PA 19148 1077116 false X N/A X 2024 PA PROVIDE BENEFITS TO EMPLOYEES OF PHILABUNDANCE, A TAX EXEMPT ORGANIZATION UNDER 501(c)(3), AND IS NOT SUBJECT TO INCOME TAX UNDER IRC SECTION 512(a)(3)(E)(iii) AND ONLY SUBJECT TO UNRELATED BUSINESS INCOME. 26 26 0 26 0 0 0 0 0 1073356 0 3760 0 0 0 1077116 0 0 0 785059 0 0 0 0 0 0 271714 0 1056773 0 20343 0 67342 0 46999 0 20343 X THE PLAN SPONSOR'S PURPOSE IN ESTABLISHING THE PLAN IS TO HELP TO PROTECT ELIGIBLE MEMEBERS AND THEIR FAMILY BY OFFSETTING SOME OF THE FINANCIAL PROBLEMS THAT MAY ARISE FROM AN INJURY OR ILLNESS. THE PURPOSE OF THIS PLAN IS TO SET FORTH THE TERMS AND PROVISIONS OF THE PLAN THAT PROVIDE FOR THE PAYMENT OR REIMBURSEMENT OF ALL OR A PORTION OF CERTAIN HEALTH CARE EXPENSES. false false THE PLAN SPONSOR'S PURPOSE IN ESTABLISHING THE PLAN IS TO HELP TO PROTECT ELIGIBLE MEMEBERS AND THEIR FAMILY BY OFF SETTING SOME OF THE FINANCIAL PROBLEMS THAT MAY ARISE FROM AN INJURY OR ILLNESS. THE PURPOSE OF THIS PLAN IS TO SET FORTH THE TERMS AND PROVISIONS OF THE PLAN THAT PROVIDE FOR THE PAYMENT OR REIMBURSEMENT OF ALL OR A PORTION OF CERTAIN HEALTH CARE EXPENSES. false false false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false true true true false true 0 0 0 false false false false false false false false X 26 26 false true false false false false false true true false false true true true true true true true false false X WIL TORRES 2153390900 3616 SOUTH GALLOWAY STREET PHILADELPHIA PA 19148 X DIXIE JAMES CHAIRPERSON/FINANCE COMMITTEE 1.0 0.0 X X 0 0 0 JOHN HOLLWAY VICE CHAIRPERSON 1.0 0.0 X X 0 0 0 NOEL EISENSTAT VICE CHAIRPERSON 1.0 0.0 X X 0 0 0 ELIZABETH IRELAND TREASURER/FINANCE COMMMITTEE 1.0 0.0 X X 0 0 0 NIKI HAWKINS SECRETARY 1.0 0.0 X X 0 0 0 BASSAM AWADALLA DIRECTOR 1.0 0.0 X 0 0 0 MAYRA BERGMAN DIRECTOR 1.0 0.0 X 0 0 0 BJ CLARK DIRECTOR 1.0 0.0 X 0 0 0 SCOTT JACKSON DIRECTOR 1.0 0.0 X 0 0 0 PAM RAINEY LAWLER DIRECTOR 1.0 0.0 X 0 0 0 DAVID LEONE DIRECTOR 1.0 0.0 X 0 0 0 ADELE LINDENMEYR PHD DIRECTOR 1.0 0.0 X 0 0 0 CHERYL MARTIN DIRECTOR 1.0 0.0 X 0 0 0 DESIREE MURPHY MORRISSEY DIRECTOR 1.0 0.0 X 0 0 0 ALENI PAPPAS DIRECTOR 1.0 0.0 X 0 0 0 TODD PETERSON DIRECTOR/FINANCE COMMITTEE 1.0 0.0 X 0 0 0 MARTIN PHILLIPS DIRECTOR 1.0 0.0 X 0 0 0 MILTON PRATT JR DIRECTOR/FINANCE COMMITTEE 1.0 0.0 X 0 0 0 ESTELLE RICHMAN DIRECTOR 1.0 0.0 X 0 0 0 JOHN RUANE DIRECTOR 1.0 0.0 X 0 0 0 NORA SWIMM DIRECTOR 1.0 0.0 X 0 0 0 NYEEMA WATSON PHD DIRECTOR 1.0 0.0 X 0 0 0 ALAN E CASNOFF TRUSTEE 1.0 0.0 X 0 0 0 MARISA MAGNATTA DIRECTOR 1.0 0.0 X 0 0 0 DAVID MILLER DIRECTOR/FINANCE COMMITTEE 1.0 0.0 X 0 0 0 ANGELA WURSTER DIRECTOR 1.0 0.0 X 0 0 0 0 0 0 0 false false false 0 0 EMPLOYER CONTRIBUTIONS 900099 731084 731084 PARTICIPANT CONTRIBUTIONS 900099 332834 332834 COBRA CONTRIBUTIONS 900099 9438 9438 1073356 3760 3760 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1077116 1073356 0 3760 0 0 0 785059 0 0 0 0 0 0 26837 0 22000 0 0 0 36135 0 0 0 0 0 0 0 0 0 0 0 0 NET PREMIUM PAYMENTS 186742 1056773 0 47694 0 0 0 0 0 19648 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 67342 0 46999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 46999 X 0 0 0 0 0 20343 0 20343 0 67342 20343 X X false true X true false 0 0 X 1748420 671304 671304 1077116 1077116 1558182 501409 501409 1056773 1056773 PART X, LINE 2: The Plan filed for tax exempt status for the VEBA trust as of the year ended December 31, 2024. The Plan's administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Accounting principles generally accepted in the United States of America require management of an entity to evaluate tax positions taken and recognize a tax liability if the entity has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service ("IRS"). Management has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2024 and 2023, there are no uncertain positions taken or expected to be taken that would require recognition in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. In addition, there have been no tax related interest or penalties for the periods presented in these financial statements. ON SEPTEMBER 24, 2025, THE PLAN RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE IRS CONFIRMING ITS TAX-EXEMPT STATUS UNDER IRC SECTION 501(C)(9), EFFECTIVE MAY 16, 2024. PART XI, LINE 2: REVENUES TOTALING $671,304 OCCURED PRIOR TO THE EFFECTIVE DATE AND ARE EXCLUDED FROM TAX-EXEMPT TREATMENT. PART XII, LINE 2: EXPENSES TOTALING $501,409 OCCURED PRIOR TO THE EFFECTIVE DATE AND ARE EXCLUDED FROM TAX-EXEMPT TREATMENT. FORM 990, PART VI, SECTION A, LINE 3: EFFECTIVE JANUARY 1, 2024, THE PLAN ENTERED INTO AN AGREEMENT WITH MERITAIN HEALTH, INC (THE "PROVIDER") AS THE CLAIM ADMINISTRATOR. PAYMENT BY THE PLAN TO THE PROVIDER ARE BASED UPON THE AMOUNT OF CLAIMS PAID BY THE PROVIDER DURING THE PRECEDING MONTH PLUS A CLAIM' ADMINISTRATION CHARGE. FORM 990, PART VI, SECTION B, LINE 11A: FINANCE COMMITTEE REVIEWS AND APPROVES THE FORM 990. WIL TORRES, INTERIM CFO WILL INCLUDE IN AGENDA AFTER FINANCE COMMITTEE'S REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C: THE CONFLICT OF INTEREST POLICY APPLIES TO CURRENT AND PROSPECTIVE EMPLOYEES, INDEPENDENT CONTRACTORS, AND PERSONS ACTING ON BEHALF OF THE ORGANIZATION, I.E., BOARD MEMBERS. FOR NON-BOARD MEMBERS, ANY CONFLICT OF INTEREST, POTENTIAL CONFLICT OF INTEREST, OR THE APPEARANCE OF A CONFLICT OF INTEREST IS REPORTED TO THE EXECUTIVE DIRECTOR/CEO AND/OR THE HEAD OF HUMAN RESOURCES. SENIOR MANAGEMENT HAS THE FINAL RESPONSIBILITY OF RESOLVING NON-BOARD MEMBER CONFLICTS. FOR BOARD MEMBER CONFLICTS, THE MINUTES OF THE GOVERNING BOARD AND ALL COMMITTEES WITH SIGNATORY AUTHORITY SHALL CONTAIN: (1) THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE CONFLICT OF INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE GOVERNING BOARD'S OR COMMITTEE'S DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED; AND (2) THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT THAT PRESENTS A POSSIBLE CONFLICT OF INTEREST, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THE PROCEEDINGS. AT A MINIMUM, ANNUAL DISCLOSURE OF ACTUAL OR POTENTIAL CONFLICTS IS REQUIRED. FORM 990, PART VI, SECTION B, LINE 15A: COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL IS REVIEWED AND APPROVED BY THE BOARD. IN ADDITION, THE COMPENSATION REVIEW PROCESS INCLUDES THE USE OF COMPARABILITY DATA AND REQUIRES CONTEMPORANEOUS SUBSTANTIATION OF BOTH THE DELIBERATION AND THE FINAL DECISION. AT THIS TIME THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES THAT MEET THE INTERNAL REVENUE SERVICE DEFINITION OF KEY EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE BOARD OF TRUSTEES ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED. PHILABUNDANCE 3616 SOUTH GALLOWAY STREET PHILADELPHIA PA 19148 232290505 PLAN SPONSOR PA 501(C)(3) LINE 7 NA true false false false false false false false false false false false false false false false true false false false PHILABUNDANCE P 186742 NETTED PREMIUMS