United Transportation Union Insurance Association
- Assets
- $229.4m
- Revenue
- $20.2m
- Investments
- $0.0
- Employees
- 31
- Location
- Independence, OH
- Founding
- 02/1993
- Data as of
- 12/2021
- EIN
- 23-7131460
Organization Overview
United Transportation Union Insurance Association is located in Independence, OH. The organization was established in 1993. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, United Transportation Union Insurance Association employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Transportation Union Insurance Association is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 12/2021, United Transportation Union Insurance Association generated $20.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $17.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 7 years. 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
FRATERNAL BENEFIT SOCIETY SERVING OUR MEMBERS WITH VARIOUS INSURANCE PRODUCTS AND FRATERNAL BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LIFE, ACCIDENTAL DEATH AND DISABILITY AND ANNUITY PRODUCTS TO MEMBERS OF THE UNITED TRANSPORTATION UNION INSURANCE ASSOCIATION AND WORKERS IN THE TRANSPORTATION INDUSTRY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Laugel President | Officer | 40 | $288,153 |
Jeffery Becker Secretary/treasurer | Officer | 40 | $200,682 |
Ronald Steiger It Director | 40 | $133,515 | |
David Liddle Regional Insurance Manager | 40 | $129,010 | |
Beth Centlivre In-House Actuary | 24 | $102,668 | |
Richard Kusnic Director | Trustee | 1.5 | $55,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Healthcare Employee Medical Insurance | 12/30/21 | $1,069,568 |
Jp Morgan Investment Services Investment Services | 12/30/21 | $225,374 |
Miller & Newberg Inc Acturial Services | 12/30/21 | $192,797 |
Optimum Re Insurance Co Reinsurer | 12/30/21 | $184,944 |
Rga Reinsurance Company Reinsurance | 12/30/21 | $155,837 |
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 | $10,003,176 |
| Investment income | $8,925,480 |
| Tax Exempt Bond Proceeds | $654,224 |
| 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 | $20,187,973 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $332,111 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $10,871,911 |
| Compensation of current officers, directors, key employees. | $764,135 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,912,958 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $231,797 |
| Other employee benefits | $1,156,506 |
| Payroll taxes | $146,232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,774 |
| Fees for services: Accounting | $89,097 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $473,658 |
| Fees for services: Other | $437,528 |
| Advertising and promotion | $6,087 |
| Office expenses | $452,137 |
| Information technology | $260,282 |
| Royalties | $0 |
| Occupancy | $200,177 |
| Travel | $261,326 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,191 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $83,703 |
| Insurance | $102,870 |
| All other expenses | $0 |
| Total functional expenses | $17,877,637 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $339,798 |
| Savings and temporary cash investments | $1,956,882 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,258 |
| 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 | $24,982 |
| Investments—publicly traded securities | $221,752,111 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,277,497 |
| Total assets | $229,446,528 |
| Accounts payable and accrued expenses | $2,421,708 |
| 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 | $160,118,650 |
| Total liabilities | $162,540,358 |
| 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 | $66,906,170 |
| Total liabilities and net assets/fund balances | $229,446,528 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Police And Firemens Insurance Association Carmel, IN | $255,522,812 | $49,657,782 |
Loyal Christian Benefit Association Erie, PA | $108,287,356 | $23,099,109 |
Womans Life Insurance Society Port Huron, MI | $202,469,549 | $20,989,003 |
United Transportation Union Insurance Association Independence, OH | $229,446,528 | $20,187,973 |
Ladies Of Co Inc Catholic Gahanna, OH | $138,820,359 | $17,769,502 |
Order Of United Commercial Travelers Of America Columbus, OH | $13,051,068 | $16,246,455 |
Slovene National Benefit Society Imperial, PA | $127,585,848 | $17,289,930 |
Alliance Of Transylvania Saxons Of Us Cleveland, OH | $101,451,991 | $9,280,239 |
Serb National Federation Pittsburgh, PA | $50,402,981 | $6,645,334 |
Fraternal Order Of Police Philadelphia, PA | $3,187,559 | $6,876,497 |
Providence Assn Of Ukrainian Catholics Of Amer Philadelphia, PA | $55,075,663 | $6,983,514 |
Health & Welfare Fund Of The Plumbers & Steamfitters Local Canfield, OH | $14,266,542 | $8,803,996 |