Operating Engineers Welfare Fund Of Eastern Pa & Delaware
- Assets
- $243.3m
- Revenue
- $97.7m
- Investments
- $44.5m
- Employees
- 101
- Location
- Fort Washington, PA
- Founding
- 07/1954
- Data as of
- 12/2023
- EIN
- 23-1402245
Organization Overview
Operating Engineers Welfare Fund Of Eastern Pa & Delaware is located in Fort Washington, PA. The organization was established in 1954. 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 12/2023, Operating Engineers Welfare Fund Of Eastern PA & Delaware employed 101 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Operating Engineers Welfare Fund Of Eastern PA & Delaware is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Operating Engineers Welfare Fund Of Eastern PA & Delaware generated $97.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $89.3m during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PLAN PROVIDES HOSPITAL, SURGICAL, MEDICAL, DENTAL, VISION, AND PRESCRIPTION BENEFITS TO ELIGIBLE MEMBERS OF IUOE LOCAL 542 & THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES HOSPITAL, SURGICAL, MEDICAL, DENTAL, VISION, AND PRESCRIPTION BENEFITS TO ELIGIBLE MEMBERS OF IUOE LOCAL 542 & THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Davis Employer Trustee | Trustee | 2 | $0 |
Thomas Danese Union Trustee | Trustee | 2 | $0 |
Michael J Driscoll Jr Employer Trustee | Trustee | 2 | $0 |
Fran Pietrini Employer Trustee | Trustee | 2 | $0 |
Christopher Lodge Union Trustee | Trustee | 2 | $0 |
Robert Walsh Union Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Independence Blue Cross Claims Administration | 12/30/23 | $1,941,406 |
Healthstat Inc Medical Clinic | 12/30/23 | $1,193,307 |
Express Scripts Claims Administration | 12/30/23 | $1,082,797 |
Allied Trades Assistance Program Assistance Program | 12/30/23 | $208,312 |
Health Care Solutions Corporation Claims Processing | 12/30/23 | $937,113 |
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 | $90,280,043 |
| Investment income | $7,572,919 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$159,813 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $97,694,348 |
| 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 | $86,340,071 |
| 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 | $967,604 |
| Pension plan accruals and contributions | $423,887 |
| Other employee benefits | $234,477 |
| Payroll taxes | $77,441 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $108,284 |
| Fees for services: Accounting | $49,388 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $481,916 |
| Fees for services: Other | $60,000 |
| Advertising and promotion | $0 |
| Office expenses | $194,172 |
| Information technology | $103,687 |
| Royalties | $0 |
| Occupancy | $112,877 |
| Travel | $18,161 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,910 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,711 |
| Insurance | $34,589 |
| All other expenses | $42,629 |
| Total functional expenses | $89,296,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $53,303,135 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,007,099 |
| 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 | $411,503 |
| Net Land, buildings, and equipment | $1,854,308 |
| Investments—publicly traded securities | $130,038,251 |
| Investments—other securities | $44,534,681 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,126,240 |
| Total assets | $243,275,217 |
| Accounts payable and accrued expenses | $531,254 |
| Grants payable | $0 |
| Deferred revenue | $60,330 |
| 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 | $1,645,764 |
| Total liabilities | $2,237,348 |
| 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 | $241,037,869 |
| Total liabilities and net assets/fund balances | $243,275,217 |