2026-05-14T09:51:38+00:00 2025-06-30 440160260 Forvis Mazars LLP One Oak Plaza Suite 300 Asheville NC 28801 990 2024-07-01 806097315 UNIVERSITY MEDICAL ASSOCIATES RETIREE BENEFIT TRUST RET 8438761357 PO BOX 30037 CHARLESTON SC 29417 JONATHAN BOONE Interim CFO/Controller 8438762420 2026-05-14 true Jeremy Naess P01306905 8282542254 2026-05-13 2024 2025-03-06 01:10:19Z X JONATHAN BOONE 1 POSTON RD SUITE 350 CHARLESTON SC 29407 1953406 false X HTTP://WWW.MUSC.EDU X 2008 SC VOLUNTARY EMPLOYEE BENEFICIARY ASSOCIATION TRUST ESTABLISHED TO PROVIDE HEALTH AND DENTAL BENEFITS TO QUALIFIED RETIREES OF UNIVERSITY MEDICAL ASSOCIATES AND ITS AFFILIATES. 1 1 0 0 0 0 182877 179469 436083 380720 2026 1721 620986 561910 0 952215 853653 0 0 0 23983 22929 976198 876582 -355212 -314672 3977787 3808660 246387 372122 3731400 3436538 THE VOLUNTARY EMPLOYMENT BENEFIT ASSOCIATION TRUST HAS BEEN ESTABLISHED TO PROVIDE HEALTH AND DENTAL BENEFITS TO THE RETIRED FORMER EMPLOYEES OF UNIVERSITY MEDICAL ASSOCIATES, CAROLINA PRIMARY CARE PHYSICIANS, PA, MUSC HEALTH PARTNERS, AND CAROLINA HEALTH MANAGEMENT SERVICES IN ACCORDANCE WITH THE PLAN PROVISIONS. false false 739951 179469 VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION TRUST HAS BEEN ESTABLISHED TO PROVIDE HEALTH AND DENTAL BENEFITS TO THE RETIRED FORMER EMPLOYEES OF UNIVERSITY MEDICAL ASSOCIATES, CAROLINA PRIMARY CARE PHYSICIANS, PA, MUSC HEALTH PARTNERS, AND CAROLINA HEALTH MANAGEMENT SERVICES IN ACCORDANCE WITH THE PLAN PROVISIONS. 739951 false false false false false false false false false false false false false false true 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 false false false false true false false false false true 0 0 0 false false false false false false false false X 1 1 false false false false true true true true true false false false true true true true false false false false false false SC X Jonathan Boone 8438762420 1 Poston Road 350 Charleston SC 29407 Wells Fargo NA Trustee 1.0 X 22929 0 0 22929 0 0 0 false false false 0 0 PARTICIPANT CONTRIBUTIONS 525100 179469 179469 0 0 0 0 179469 93036 93036 0 0 1679180 1391496 287684 0 287684 287684 MUTUAL FUND REBATE 524298 1721 1721 0 0 0 0 1721 561910 179469 0 382441 853653 22929 0 876582 3376 110972 4675 4068 0 0 0 0 0 0 0 0 3969736 3693620 0 0 0 0 3977787 3808660 69134 223125 0 0 177253 148997 246387 372122 X 3731400 3436538 3731400 3436538 3977787 3808660 -314672 19810 0 X X false true true false Federal Income Taxes INCURRED BUT NOT REPORTED CLAIMS RESERVE 148997 148997 X 581720 19810 0 19810 561910 0 0 561910 876582 0 0 876582 0 0 876582 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE TRUST ESTABLISHED UNDER THE PLAN TO HOLD THE PLAN'S ASSETS RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE (THE "IRS") DATED JANUARY 21, 2010, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)9 OF THE INTERNAL REVENUE CODE (THE "IRC"). HOWEVER, AS A RESULT OF THE PLAN'S FUNDING POLICY, FROM TIME TO TIME THE TRUST MAY BE SUBJECT TO INCOME TAXES. NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED IN 2024 FOR UNRELATED BUSINESS TAXABLE INCOME. IN ADDITION, THE PLAN AND THE TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINATIN THE TAX-EXEMPT STATUS OF THE TRUST. THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC; THEREFORE, THE RELATED TRUST IS TAX-EXEMPT. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) 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 ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF JUNE 30, 2025 AND 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. Form 990, Part VI, Line 6 Classes of members or stockholders THE MEMBERS OF THE VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION ARE UNIVERSITY MEDICAL ASSOCIATES; CAROLINA PRIMARY CARE PHYSICIANS, PA; MUSC HEALTH PARTNERS, AND CAROLINA HEALTH MANAGEMENT SERVICES. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body WELLS FARGO ACTS AS THE INSTITUTIONAL TRUSTEE OF THE TRUST. THE BOARD OF UNIVERSITY MEDICAL ASSOCIATES (THE SPONSORING ORGANIZATION) PARTICIPATES IN THE GOVERNANCE OF THE ORGANIZATION THROUGH THE APPOINTMENT OF THE TRUST'S COMMITTEE AND THROUGH THE ABILITY TO VOTE ON THE TRUSTEE AND THE INVESTMENTS OF THE TRUST. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders ANY CHANGES IN BENEFITS UNDER THE VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION TRUST MUST BE APPROVED BY THE BOARD OF UNIVERSITY MEDICAL ASSOCIATES. Form 990, Part VI, Line 11b Review of form 990 by governing body A DRAFT OF FORM 990 IS PROVIDED TO THE DIRECTORS OF THE TRUST VIA EMAIL PRIOR TO FILING FOR REVIEW AND COMMENTS. Form 990, Part VI, Line 12c Conflict of interest policy THE TRUST RELIES ON ITS SPONSORING ORGANIZATION, UNIVERSITY MEDICAL ASSOCIATES, TO MONITOR ALL CONFLICTS OF INTEREST IN ACCORDANCE WITH ITS APPLICABLE POLICIES. Form 990, Part VI, Line 19 Required documents available to the public THE TRUST PROVIDES COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO ALL INTERESTED PARTIES UPON WRITTEN REQUEST RECEIVED AT ITS CORPORATE OFFICES LOCATED AT 1 Poston Rd., SUITE 350, CHARLESTON, SC 29407. Form 990, Part XII, Line 2c Change of oversight process or selection process THE SIX TRUSTEES, COLLECTIVELY, ACT AS THE AUDIT COMMITTEE FOR OVERSIGHT OF THE AUDIT PROCESS FROM SELECTION OF THE INDEPENDENT ACCOUNTANT, REVIEW OF THE AUDIT FINDINGS AND MAKING SUGGESTED CHANGES TO ENSURE COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS. UNIVERSITY MEDICAL ASSOCIATES OF THE MEDICAL UNIVERSITY OF SOUTH CAROLINA 1 POSTON RD STE 350 Charleston SC 29407 570935917 PRACTICE PLAN FOR MEDICAL SCHOOL SC 501(c)(3) Type III-FI MEDICAL UNIVERSITY OF SOUTH CAROLINA false false false false false false false false false false false false false false false false false false false true