Health & Welfare Fund Of Cedar Rapids Iowa V A Local 125
- Assets
- $46.3m
- Revenue
- $22.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 01/1969
- Data as of
- 04/2024
- EIN
- 23-7004205
Organization Overview
Health & Welfare Fund Of Cedar Rapids Iowa V A Local 125 is located in Cedar Rapids, IA. The organization was established in 1969. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health & Welfare Fund Of Cedar Rapids Iowa V A Local 125 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 04/2024, Health & Welfare Fund Of Cedar Rapids Iowa V A Local 125 generated $22.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $16.2m during the year ending 04/2024. While expenses have increased by 1.4% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HEALTH & WELFARE BENEFITS FOR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH & WELFARE BENEFITS FOR APPROXIMATELY 986 MEMBERS AND THEIR BENEFICIARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Sadler II Chairman | OfficerTrustee | 1 | $0 |
Bruce Beckman Labor Trustee | Trustee | 1 | $0 |
Dustin Ashmore Labor Trustee | Trustee | 1 | $0 |
Mike Machula Management Trustee | Trustee | 1 | $0 |
Scot Stoltenberg Management Alternate | Trustee | 1 | $0 |
Tammy Musser Management Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aetna Life Insurance Company Administrative Services | 4/29/24 | $363,172 |
Eastern Iowa Fringe Benefit Funds Inc Administrative Services | 4/29/24 | $348,240 |
Reinhart Boerner Van Deuren Sc Legal Services | 4/29/24 | $123,349 |
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 | $20,443,004 |
| Investment income | $1,360,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $704,749 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,508,158 |
| 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 | $15,086,287 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $123,349 |
| Fees for services: Accounting | $73,485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,000 |
| Fees for services: Other | $71,737 |
| Advertising and promotion | $0 |
| Office expenses | $26,407 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,021 |
| Interest | $0 |
| Payments to affiliates | $348,240 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,677 |
| All other expenses | $0 |
| Total functional expenses | $16,199,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,654 |
| Savings and temporary cash investments | $1,807,996 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,367,890 |
| 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 | $7,209 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $42,012,457 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $108,280 |
| Total assets | $46,343,486 |
| Accounts payable and accrued expenses | $124,637 |
| Grants payable | $0 |
| Deferred revenue | $31,911 |
| 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 | $156,548 |
| 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 | $46,186,938 |
| Total liabilities and net assets/fund balances | $46,343,486 |