Teamsters Local 1035 Health Services & Insurances Fund is located in South Windsor, CT. The organization was established in 1984. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2021, Teamsters Local 1035 Health Services & Insurances Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Local 1035 Health Services & Insurances Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2021, Teamsters Local 1035 Health Services & Insurances Fund generated $12.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $9.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SELF-INSURED HEALTH BENEFIT PLAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES INSURED AND SELF-INSURED MEDICAL, DEATH & LIFEINSURANCE BENEFITS TO 722 MEMBERS PLUS THEIR DEPENDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Glenn Barksdale Union Trustee | Trustee | 4 | $975 |
Paul Novak Employer Trustee | Trustee | 2 | $0 |
James Stack Employer Trustee | Trustee | 2 | $0 |
Robert Ziobrowski Union Trustee | Trustee | 4 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Anthem Blue Cross Blue Shield Repricing & Admin Fees | 6/29/20 | $175,353 |
Ubs Financial Services Investment Management | 6/29/20 | $146,503 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $7,839,341 |
Investment income | $519,132 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $4,311,749 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $12,696,658 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $8,204,641 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $182,166 |
Pension plan accruals and contributions | $74,242 |
Other employee benefits | $72,846 |
Payroll taxes | $15,319 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $105,944 |
Fees for services: Other | $413,107 |
Advertising and promotion | $0 |
Office expenses | $18,274 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $15,269 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $75 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $355 |
Insurance | $20,238 |
All other expenses | $0 |
Total functional expenses | $9,122,476 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $74,021 |
Savings and temporary cash investments | $7,127,494 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $628,044 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $16,287 |
Net Land, buildings, and equipment | $837 |
Investments—publicly traded securities | $40,561,081 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $194,075 |
Total assets | $48,601,839 |
Accounts payable and accrued expenses | $23,190 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $973,076 |
Total liabilities | $996,266 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $47,605,573 |
Total liabilities and net assets/fund balances | $48,601,839 |