Cigna Benefit Plans Trust C/O Connecticut National Bank
Cigna Benefit Plans Trust: Stable Finances, Limited Public Detail
EIN: 222483338 · Pennington, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $45.1M |
| Total Expenses | $42.4M |
| Program Spending | 95% |
| Net Assets | $17.9M |
| Transparency Score | 65/100 |
Is Cigna Benefit Plans Trust C/O Connecticut National Bank Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cigna Benefit Plans Trust C/O Connecticut National Bank directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cigna Benefit Plans Trust C/O Connecticut National Bank
Cigna Benefit Plans Trust C/O Connecticut National Bank (EIN: 222483338) is a nonprofit organization based in Pennington, NJ. The organization reported total revenue of $45.1M and total assets of $23.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cigna Benefit Plans Trust C/O Connecticut National Bank's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cigna Benefit Plans Trust C/O Connecticut National Bank is a large nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $43.9M |
| Total Expenses | $42.4M |
| Surplus / Deficit | +$1.5M |
| Total Assets | $17.9M |
| Net Assets | $17.9M |
| Operating Margin | 3.5% |
| Months of Reserves | 5.1 months |
Financial Health Grade: A
In 2023, Cigna Benefit Plans Trust C/O Connecticut National Bank reported a surplus of $1.5M with revenue exceeding expenses, holds 5.1 months of operating reserves (adequate).
Financial Trends
Over 13 years of filings (2011–2023), Cigna Benefit Plans Trust C/O Connecticut National Bank's revenue has grown at a compound annual growth rate (CAGR) of 6.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.0% | -6.9% | +9.4% |
| 2022 | +0.4% | +1.4% | -6.5% |
| 2021 | -10.0% | -5.1% | -6.7% |
| 2020 | +99.9% | +93.7% | +39.0% |
| 2019 | -3.2% | -9.8% | +8.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cigna Benefit Plans Trust C/O Connecticut National Bank with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 3%
- programs: 95%
- fundraising: 2%
According to IRS 990 filings, Cigna Benefit Plans Trust C/O Connecticut National Bank allocates its expenses as follows: admin: 3%, programs: 95%, fundraising: 2%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.5M, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation cannot be assessed as no specific compensation figures are available in the provided data or publicly accessible filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Cigna Benefit Plans Trust C/O Connecticut National Bank's IRS 990 filings:
- Lack of publicly available Form 990 filings significantly hinders transparency and detailed financial analysis.
- The nature of 'Cigna Benefit Plans Trust' suggests a connection to a for-profit entity (Cigna), raising questions about potential conflicts of interest or the primary beneficiaries of the trust's activities.
- No information on specific programs, beneficiaries, or impact is available, making it difficult to evaluate its charitable effectiveness.
Strengths
The following positive indicators were identified for Cigna Benefit Plans Trust C/O Connecticut National Bank:
- Consistently high revenue figures, with 2023 revenue at $43,917,568, indicate a stable financial base.
- Assets have shown growth, reaching $17,879,977 in 2023, suggesting sound financial management.
- Expenses are generally well-managed relative to revenue, with 2023 expenses at $42,388,575.
Frequently Asked Questions about Cigna Benefit Plans Trust C/O Connecticut National Bank
Is Cigna Benefit Plans Trust C/O Connecticut National Bank a legitimate charity?
Cigna Benefit Plans Trust C/O Connecticut National Bank (EIN: 222483338) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $45.1M. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Cigna Benefit Plans Trust C/O Connecticut National Bank spend its money?
Cigna Benefit Plans Trust C/O Connecticut National Bank directs 95% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Cigna Benefit Plans Trust C/O Connecticut National Bank tax-deductible?
Cigna Benefit Plans Trust C/O Connecticut National Bank is registered as a tax-exempt nonprofit (EIN: 222483338). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Cigna Benefit Plans Trust C/O Connecticut National Bank's spending goes to programs?
Cigna Benefit Plans Trust C/O Connecticut National Bank directs 95% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Cigna Benefit Plans Trust C/O Connecticut National Bank located?
Cigna Benefit Plans Trust C/O Connecticut National Bank is headquartered in Pennington, New Jersey and files with the IRS under EIN 222483338.
How many years of IRS 990 filings does Cigna Benefit Plans Trust C/O Connecticut National Bank have?
Cigna Benefit Plans Trust C/O Connecticut National Bank has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $45.1M in total revenue.
What does Cigna Benefit Plans Trust C/O Connecticut National Bank do?
Cigna Benefit Plans Trust C/O Connecticut National Bank is a nonprofit organization in the Unknown sector, located in Pennington, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Cigna Benefit Plans Trust C/O Connecticut National Bank have?
Cigna Benefit Plans Trust C/O Connecticut National Bank reported total revenue of $45,137,443. Based on 13 IRS 990 filings on record.
What are Cigna Benefit Plans Trust C/O Connecticut National Bank's total assets?
Cigna Benefit Plans Trust C/O Connecticut National Bank holds total assets of $23,768,461 as reported in IRS 990 filings.
Where is Cigna Benefit Plans Trust C/O Connecticut National Bank located?
Cigna Benefit Plans Trust C/O Connecticut National Bank is based in Pennington, New Jersey.
What is Cigna Benefit Plans Trust C/O Connecticut National Bank's EIN?
Cigna Benefit Plans Trust C/O Connecticut National Bank's Employer Identification Number (EIN) is 222483338. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Cigna Benefit Plans Trust C/O Connecticut National Bank?
Cigna Benefit Plans Trust C/O Connecticut National Bank is classified under NTEE code Unknown (Unknown).
Is Cigna Benefit Plans Trust C/O Connecticut National Bank a registered 501(c)(3)?
Cigna Benefit Plans Trust C/O Connecticut National Bank appears in IRS records (EIN: 222483338). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Cigna Benefit Plans Trust C/O Connecticut National Bank file IRS Form 990?
Yes, Cigna Benefit Plans Trust C/O Connecticut National Bank has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Cigna Benefit Plans Trust C/O Connecticut National Bank's revenue in 2023?
In the 202312 filing period, Cigna Benefit Plans Trust C/O Connecticut National Bank reported total revenue of $43,917,568, total expenses of $42,388,575, and net assets of $17,879,977.
Is Cigna Benefit Plans Trust C/O Connecticut National Bank's revenue growing or declining?
Cigna Benefit Plans Trust C/O Connecticut National Bank's revenue is relatively stable. Revenue went from $45,748,095 (202212) to $43,917,568 (202312), a -4.0% change. Based on 13 filings on record.
What is Cigna Benefit Plans Trust C/O Connecticut National Bank's most recent 990 filing?
The most recent IRS Form 990 filing for Cigna Benefit Plans Trust C/O Connecticut National Bank covers tax period 202312. It shows revenue of $43,917,568, expenses of $42,388,575, total assets of $17,879,977, and liabilities of N/A.
How much does Cigna Benefit Plans Trust C/O Connecticut National Bank spend on programs vs administration?
Based on IRS 990 analysis, Cigna Benefit Plans Trust C/O Connecticut National Bank allocates approximately 95% of expenses to program services, 3% to administrative costs, and 2% to fundraising. This indicates strong program focus.
Is Cigna Benefit Plans Trust C/O Connecticut National Bank a trustworthy charity?
Based on AI analysis of IRS 990 data, Cigna Benefit Plans Trust C/O Connecticut National Bank shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Cigna Benefit Plans Trust C/O Connecticut National Bank?
The following concerns were identified: Lack of publicly available Form 990 filings significantly hinders transparency and detailed financial analysis.. The nature of 'Cigna Benefit Plans Trust' suggests a connection to a for-profit entity (Cigna), raising questions about potential conflicts of interest or the primary beneficiaries of the trust's activities.. No information on specific programs, beneficiaries, or impact is available, making it difficult to evaluate its charitable effectiveness.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Cigna Benefit Plans Trust C/O Connecticut National Bank's strengths?
Positive indicators for Cigna Benefit Plans Trust C/O Connecticut National Bank include: Consistently high revenue figures, with 2023 revenue at $43,917,568, indicate a stable financial base.. Assets have shown growth, reaching $17,879,977 in 2023, suggesting sound financial management.. Expenses are generally well-managed relative to revenue, with 2023 expenses at $42,388,575.. These findings are derived from AI analysis of the organization's financial filings.
How does Cigna Benefit Plans Trust C/O Connecticut National Bank compensate executives?
Executive compensation cannot be assessed as no specific compensation figures are available in the provided data or publicly accessible filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the name 'Cigna Benefit Plans Trust,' what is the relationship between this trust and the Cigna corporation, and how does this relationship impact its nonprofit status and operations?
The name strongly implies a direct affiliation with the Cigna corporation, likely serving as a vehicle for employee benefits or related programs. This relationship could mean its primary beneficiaries are Cigna employees or related entities, rather than the general public, which is a key consideration for a nonprofit's public benefit.
Without public 990 filings, how can one verify that the trust's activities align with charitable purposes and that its funds are not primarily benefiting the associated corporation or its executives?
Verifying charitable alignment without public 990s is challenging. It would require direct access to internal financial statements, trust agreements, and operational reports to ensure funds are used for public benefit and not unduly benefiting Cigna or its executives, which is a significant transparency concern.
Filing History
IRS 990 filing history for Cigna Benefit Plans Trust C/O Connecticut National Bank showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Cigna Benefit Plans Trust C/O Connecticut National Bank's revenue has grown by 109.2%, moving from $21.0M to $43.9M. Total assets decreased by 26.8% over the same period, from $24.4M to $17.9M. Total functional expenses rose by 64%, from $25.8M to $42.4M. In its most recent filing year (2023), Cigna Benefit Plans Trust C/O Connecticut National Bank reported a surplus of $1.5M, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $43.9M | $42.4M | $17.9M | $0 | — | — |
| 2022 | $45.7M | $45.5M | $16.4M | $0 | — | View 990 |
| 2021 | $45.5M | $44.9M | $17.5M | $1.4M | — | View 990 |
| 2020 | $50.6M | $47.3M | $18.7M | $3.3M | — | View 990 |
| 2019 | $25.3M | $24.4M | $13.5M | $1.3M | — | View 990 |
| 2018 | $26.1M | $27.1M | $12.4M | $1.2M | — | View 990 |
| 2017 | $26.7M | $29.4M | $14.5M | $2.3M | — | — |
| 2016 | $27.2M | $29.7M | $15.9M | $1.1M | — | View 990 |
| 2015 | $24.5M | $27.8M | $17.3M | $1.0M | — | View 990 |
| 2014 | $25.5M | $27.8M | $20.8M | $1.3M | — | View 990 |
| 2013 | $24.5M | $26.3M | $22.1M | $205K | — | View 990 |
| 2012 | $23.2M | $24.0M | $24.7M | $1.1M | — | View 990 |
| 2011 | $21.0M | $25.8M | $24.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $43.9M, expenses of $42.4M, and assets of $17.9M (revenue -4.0% year-over-year).
- 2022: Revenue of $45.7M, expenses of $45.5M, and assets of $16.4M (revenue +0.4% year-over-year).
- 2021: Revenue of $45.5M, expenses of $44.9M, and assets of $17.5M (revenue -10.0% year-over-year).
- 2020: Revenue of $50.6M, expenses of $47.3M, and assets of $18.7M (revenue +99.9% year-over-year).
- 2019: Revenue of $25.3M, expenses of $24.4M, and assets of $13.5M (revenue -3.2% year-over-year).
- 2018: Revenue of $26.1M, expenses of $27.1M, and assets of $12.4M (revenue -2.2% year-over-year).
- 2017: Revenue of $26.7M, expenses of $29.4M, and assets of $14.5M (revenue -1.6% year-over-year).
- 2016: Revenue of $27.2M, expenses of $29.7M, and assets of $15.9M (revenue +10.6% year-over-year).
- 2015: Revenue of $24.5M, expenses of $27.8M, and assets of $17.3M (revenue -3.6% year-over-year).
- 2014: Revenue of $25.5M, expenses of $27.8M, and assets of $20.8M (revenue +3.8% year-over-year).
- 2013: Revenue of $24.5M, expenses of $26.3M, and assets of $22.1M (revenue +5.5% year-over-year).
- 2012: Revenue of $23.2M, expenses of $24.0M, and assets of $24.7M (revenue +10.7% year-over-year).
- 2011: Revenue of $21.0M, expenses of $25.8M, and assets of $24.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cigna Benefit Plans Trust C/O Connecticut National Bank:
Data Sources and Methodology
This transparency report for Cigna Benefit Plans Trust C/O Connecticut National Bank is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.