Laborers District Council Of
- Assets
- $426.5m
- Revenue
- $110.6m
- Investments
- $93.6m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 01/1955
- Data as of
- 12/2022
- EIN
- 25-6035806
Organization Overview
Laborers District Council Of is located in Pittsburgh, PA. The organization was established in 1955. 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. Laborers District Council Of 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, Laborers District Council Of generated $110.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $88.0m during the year ending 12/2022. 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
PROVIDE GROUP BENEFITS SUCH AS MEDICAL, PRESCRIPTION DRUG, VISION, AND LIFE INSURANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED GROUP HEALTHCARE BENEFITS FOR APPROXIMATELY 12,148 PARTICIPANTS AND PLAN TO CONTINUE PROVIDING HEALTHCARE BENEFITS FOR OUR ELIGIBLE EMPLOYEES AND THEIR ELIGIBLE FAMILY MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Ameris Employee Trustee | Trustee | 4 | $0 |
James E Boyd Employee Trustee | Trustee | 2 | $0 |
Joseph J Laquatra Jr Employee Trustee | Trustee | 3 | $0 |
Jeffery R Horner Employee Trustee | Trustee | 2 | $0 |
Robert Furka Employee Trustee | Trustee | 2 | $0 |
Jason Markovich Employee Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Highmark Medical Claims Processor | 12/30/22 | $3,342,733 |
Laborers' Combined Funds Fund Administration | 12/30/22 | $1,704,659 |
Boston Partners Mgmt Inc Investment Management Services | 12/30/22 | $650,953 |
Hm Insurance Group Stop Loss Insurance | 12/30/22 | $571,339 |
Mondrian Investment Group Inc Investment Management Services | 12/30/22 | $168,009 |
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 | $111,325,954 |
| Investment income | $2,960,755 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,690,930 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $110,595,779 |
| 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 | $84,966,305 |
| 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 | $151,370 |
| Fees for services: Accounting | $56,157 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,043,481 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $87,985,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $33,191,787 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,130,077 |
| 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 | $7,680 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $287,925,894 |
| Investments—other securities | $93,557,570 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,718,203 |
| Total assets | $426,531,211 |
| Accounts payable and accrued expenses | $950,456 |
| 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 | $276,243 |
| Total liabilities | $1,226,699 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $348,950,771 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $76,353,741 |
| Total liabilities and net assets/fund balances | $426,531,211 |