Plumbers & Pipefitters Local 525 Health & Welfare Fund
- Assets
- $50.8m
- Revenue
- $107.8m
- Investments
- $7.4m
- Employees
- 0
- Location
- Las Vegas, NV
- Founding
- 05/1974
- Data as of
- 12/2022
- EIN
- 23-7283715
Organization Overview
Plumbers & Pipefitters Local 525 Health & Welfare Fund is located in Las Vegas, NV. The organization was established in 1974. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers & Pipefitters Local 525 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 12/2022, Plumbers & Pipefitters Local 525 Health & Welfare Fund generated $107.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $27.3m during the year ending 12/2022. While expenses have increased by 8.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEDICAL, DISABILITY, VISION, DENTAL AND LIFE INSURANCE TO PLAN PARTICIPANTS. THE PLAN ALSO PAYS FOR A SUBSTANCE ABUSE DETECTION PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, VISION, DENTAL, DISABILITY, AND LIFE INSURANCE TO PLAN PARTICIPANTS. THE PLAN ALSO PAYS FOR A SUBSTANCE ABUSE DETECTION PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Lydon Co-Chair/labor Trustee | Trustee | 2 | $0 |
Justin Eighmy Labor Trustee | Trustee | 2 | $0 |
Jeff Orr Alternate Labor Trustee | Trustee | 2 | $0 |
Eric Rubeck Alternate Labor Trustee | Trustee | 2 | $0 |
Dave Wood Labor Trustee | Trustee | 2 | $0 |
William Hern Alternate Labor Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Activate Healthcare Llc Health Clinic Services | 12/30/22 | $2,947,596 |
Benesys Administrators Contract Administrator | 12/30/22 | $687,213 |
Anthem Blue Cross Blue Shield Claims Administration | 12/30/22 | $495,644 |
Brownstein Hyatt Farber Schreck Legal | 12/30/22 | $359,807 |
Nevada Health Solutions Llc Utilization Management | 12/30/22 | $226,490 |
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 | $27,521,177 |
| Investment income | $747,617 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$755,745 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $107,843,595 |
| 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 | $24,762,087 |
| 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 | $763,483 |
| Fees for services: Legal | $359,807 |
| Fees for services: Accounting | $216,856 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $241,561 |
| Fees for services: Other | $407,638 |
| Advertising and promotion | $0 |
| Office expenses | $124,275 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,387 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,366 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,373 |
| Insurance | $25,131 |
| All other expenses | $16,791 |
| Total functional expenses | $27,267,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,164 |
| Savings and temporary cash investments | $5,041,002 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,124,126 |
| Loans from Officers, Directors, or Controlling Persons | $917 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $36,067 |
| Net Land, buildings, and equipment | $471,448 |
| Investments—publicly traded securities | $33,368,898 |
| Investments—other securities | $7,427,346 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $296,366 |
| Total assets | $50,809,334 |
| Accounts payable and accrued expenses | $389,681 |
| Grants payable | $0 |
| Deferred revenue | $136,725 |
| 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 | $243,660,725 |
| Total liabilities | $244,187,131 |
| 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 | -$193,377,797 |
| Total liabilities and net assets/fund balances | $50,809,334 |