Laborers Local Union-158 Health & Welfare Fund
- Assets
- $60.6m
- Revenue
- $15.0m
- Investments
- $0.0
- Employees
- 5
- Location
- Harrisburg, PA
- Founding
- 08/1962
- Data as of
- 12/2021
- EIN
- 23-1608209
Organization Overview
Laborers Local Union-158 Health & Welfare Fund is located in Harrisburg, PA. The organization was established in 1962. 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 12/2021, Laborers Local Union-158 Health & Welfare Fund employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laborers Local Union-158 Health & Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Laborers Local Union-158 Health & Welfare Fund generated $15.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $13.6m during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 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 MEDICAL BENEFITS, PRESCRIPTION DRUG, DENTAL & VISION BENEFITS TO MEMBERS THROUGH SELF-INSURANCE PROGRAMS; TO PROVIDE LIFE, AD&D AND S/T DISABILITY BENEFITS TO MEMBERS THROUGH INSURED PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MEDICAL BENEFITS, PRESCRIPTION DRUG, DENTAL, AND VISION BENEFITS TO MEMBERS THROUGH SELF-INSURANCE PROGRAMS. PROVIDED LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT, AND SHORT TERM DISABILITY BENEFITS TO MEMBERS THROUGH INSURED PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James R Davis Employer Trustee | Trustee | 0.5 | $0 |
Robert W Rounay Employer Trustee | Trustee | 0.5 | $0 |
Robert Slick Union Trustee | Trustee | 0.5 | $0 |
Ronald W Tomasetti Union Trustee | Trustee | 0.5 | $0 |
Kevin R Schultz Employer Trustee | Trustee | 0.5 | $0 |
James M Andrews Union Trustee | Trustee | 0.5 | $0 |
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 | $12,393,710 |
| Investment income | $1,757,705 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $815,009 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,966,424 |
| 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 | $12,020,716 |
| 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 | $94,658 |
| Pension plan accruals and contributions | $12,589 |
| Other employee benefits | $58,535 |
| Payroll taxes | $7,345 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,948 |
| Fees for services: Accounting | $54,628 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $282,375 |
| Fees for services: Other | $42,802 |
| Advertising and promotion | $0 |
| Office expenses | $30,637 |
| Information technology | $23,561 |
| Royalties | $0 |
| Occupancy | $2,042 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,151 |
| Insurance | $55,242 |
| All other expenses | $0 |
| Total functional expenses | $13,625,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53 |
| Savings and temporary cash investments | $4,616,893 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,613,781 |
| 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 | $164,935 |
| Net Land, buildings, and equipment | $397,244 |
| Investments—publicly traded securities | $53,355,507 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $410,234 |
| Total assets | $60,558,647 |
| Accounts payable and accrued expenses | $481,683 |
| 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 | $0 |
| Total liabilities | $481,683 |
| Net assets without donor restrictions | $60,076,964 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $60,558,647 |
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