Blue Cross Blue Shield of North Dakota Funded GROUP BENEFIT PLAN (EIN 746533141) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

CYNTHIA THORMODSON

Phone

7012821100

Tax Period

2023-01-01 to 2023-12-31

Blue Cross Blue Shield of North Dakota Funded GROUP BENEFIT PLAN, founded in 2003, is a mid-sized nonprofit in the Mutual Benefit sector that reported $10.7M in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $13.4M exceeded revenue, resulting in a 25% operating deficit.

Mission

To fund benefits to active and retired employees of Blue Cross Blue Shield of North Dakota.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,193,475

Investment Income $538,748

Other Revenue $0

TOTAL REVENUE $10,732,223

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $450,885

TOTAL EXPENSES $13,395,520

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,732,223	$16,507,063	-0.3%
Expenses	$13,395,520	$33,832,286	-0.6%
Net Income	$-2,663,297	$-17,325,223	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BANK OF THE WEST	Trustee	1.0		$34,994	$0	$34,994
BELL BANK WEALTH MANAGEMENT	TRUSTEE	1.0		$13,040	$0	$13,040

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$10,732,223	$13,395,520	$15,649,210	$-2,663,297
2022	$16,507,063	$33,832,286	$16,592,684	$-17,325,223
2021	$16,529,456	$29,146,652	$45,397,738	$-12,617,196
2020	$1,146,327	$2,629,972	$60,656,673	$-1,483,645

Blue Cross Blue Shield of North Dakota Funded GROUP BENEFIT PLAN