Plumbers & Pipefitters Local 525 Health & Welfare Fund
- Assets
- $50.2m
- Revenue
- $24.2m
- Investments
- $8.5m
- Employees
- 0
- Location
- Las Vegas, NV
- Founding
- 05/1974
- Data as of
- 12/2021
- 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 12/2021, Plumbers & Pipefitters Local 525 Health & Welfare Fund generated $24.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $102.8m during the year ending 12/2021. 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, 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 Chair/labor Trustee | Trustee | 2 | $0 |
Eric Rubeck Alternate Labor Trustee | Trustee | 2 | $0 |
Jeff Orr Alternate Labor Trustee | Trustee | 2 | $0 |
Justin Eighmy 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 | 12/30/21 | $2,524,401 |
Benesys Administrators Contract Administrator | 12/30/21 | $632,762 |
Anthem Blue Cross Blue Shield Other | 12/30/21 | $442,656 |
Brownstein Hyatt Farber Schreck Legal | 12/30/21 | $348,080 |
Rubinbrown Llp Accounting/audit | 12/30/21 | $222,378 |
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 | $21,406,471 |
| Investment income | $552,392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $647,316 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,246,834 |
| 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 | $20,438,310 |
| 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 | $700,185 |
| Fees for services: Legal | $348,340 |
| Fees for services: Accounting | $222,378 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $241,565 |
| Fees for services: Other | $302,458 |
| Advertising and promotion | $0 |
| Office expenses | $118,357 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,039 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,702 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,328 |
| Insurance | $17,871 |
| All other expenses | $21,217 |
| Total functional expenses | $102,849,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,366 |
| Savings and temporary cash investments | $3,500,868 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,128,796 |
| 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 | $28,903 |
| Net Land, buildings, and equipment | $525,818 |
| Investments—publicly traded securities | $34,202,160 |
| Investments—other securities | $8,484,860 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $314,919 |
| Total assets | $50,222,690 |
| Accounts payable and accrued expenses | $227,725 |
| Grants payable | $0 |
| Deferred revenue | $148,879 |
| 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 | $321,704,520 |
| Total liabilities | $322,081,124 |
| 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 | -$271,858,434 |
| Total liabilities and net assets/fund balances | $50,222,690 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Longshrmns & Warehsmn Union-Paci Mrtm Assoc Welfare Fund San Francisco, CA | $214,629,772 | $811,138,825 |
Teamsters Western Region And New Jersey Health Care Fund Phoenix, AZ | $2,785,434,314 | $1,104,803,734 |
United Food & Commercial Workers Unions & Food Employers Ben Fund Cypress, CA | $452,524,162 | $626,269,371 |
Ufcw & Employers Benefit Trust Fund Concord, CA | $525,821,847 | $559,658,551 |
Shell Medical Plan Phoenix, AZ | $59,819,611 | $509,542,348 |
Deseret Healthcare Employee Benefits Trust Salt Lake City, UT | $421,476,421 | $495,688,366 |
Carpenters Health And Welfare Trust Oakland, CA | $807,414,321 | $508,465,069 |
Sag-Aftra Health Fund Burbank, CA | $492,690,562 | $490,645,649 |
Laborers Health And Welfare Trust Fund For Northern California Pleasanton, CA | $444,442,259 | $419,401,531 |
Southwest Carpenters Health And Welfare Trust Los Angeles, CA | $651,095,092 | $444,803,961 |
Northern California General Teamsters Security Fund Stockton, CA | $557,118,545 | $415,457,679 |
Teamster Benefit Trust Fremont, CA | $647,016,311 | $360,030,062 |