United Furniture Workers Insurance Fund
- Assets
- $32.5m
- Revenue
- $48.9m
- Investments
- $29.0m
- Employees
- 16
- Location
- Nashville, TN
- Founding
- 03/1946
- Data as of
- 09/2021
- EIN
- 13-5547701
Organization Overview
United Furniture Workers Insurance Fund is located in Nashville, TN. The organization was established in 1946. 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 09/2021, United Furniture Workers Insurance Fund employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Furniture Workers Insurance Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2021, United Furniture Workers Insurance Fund generated $48.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $44.4m during the year ending 09/2021. While expenses have increased by 8.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
TO PROVIDE ACCIDENT, HEALTH & LIFE INSURANCE BENEFITS TO MEMBERS OF THE UNITED FURNITURE WORKERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ACCIDENT, HEALTH, AND LIFE INSURANCE BENEFITS TO MEMBERS OF THE UNITED FURNITURE WORKERS INSURANCE FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dee Anne Walker Trustee | Trustee | 20 | $72,126 |
Ulises Vergara Trustee | Trustee | 1 | $0 |
Elmo Desilva Trustee | Trustee | 1 | $0 |
Harry Boot Chairmen | Trustee | 2 | $0 |
Randy Tayloe Trustee | Trustee | 1 | $0 |
Jose Villarreal Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cheiron Actuary | 9/29/21 | $204,626 |
Bryan Cave Llp Legal | 9/29/21 | $110,069 |
Financial Statements
| 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 | $48,370,654 |
| Investment income | $485,542 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,856,196 |
| 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 | $40,796,663 |
| Compensation of current officers, directors, key employees. | $80,941 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $533,440 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $147,241 |
| Other employee benefits | $293,135 |
| Payroll taxes | $43,571 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $146,847 |
| Fees for services: Accounting | $98,939 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,500 |
| Fees for services: Other | $204,626 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $139,799 |
| Travel | $4,394 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,063 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,692 |
| Insurance | $23,429 |
| All other expenses | $82,333 |
| Total functional expenses | $44,415,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,332,608 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $915,683 |
| 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 | $0 |
| Net Land, buildings, and equipment | $34,930 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $29,039,930 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $203,203 |
| Total assets | $32,526,354 |
| Accounts payable and accrued expenses | $174,603 |
| 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 | $36,547,683 |
| Total liabilities | $36,722,286 |
| 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 | -$4,195,932 |
| Total liabilities and net assets/fund balances | $32,526,354 |