Boilermakers-154 Welfare Fund
- Assets
- $13.1m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomington, MN
- Founding
- 05/1965
- Data as of
- 12/2021
- EIN
- 25-6036558
Organization Overview
Boilermakers-154 Welfare Fund is located in Bloomington, MN. The organization was established in 1965. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Boilermakers-154 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, Boilermakers-154 Welfare Fund generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (15.9%) 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
EMPLOYEE WELFARE FUND
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH AND WELFARE BENEFITS ARE PROVIDED TO MEMBERS OF BOILERMAKERS LODGE 154.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Rodichok Co-Chair | Trustee | 0.2 | $0 |
John J Hughes Trustee | Trustee | 0.2 | $0 |
Brad Kohler Trustee | Trustee | 0.2 | $0 |
Stephen Cornelius Trustee | Trustee | 0.2 | $0 |
Christopher G Darnell Trustee | Trustee | 0.2 | $0 |
Sye Kelly Chair | Trustee | 0.2 | $0 |
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 | $1,713,610 |
| Investment income | $247,359 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $246,712 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,207,964 |
| 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 | $1,172,712 |
| 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 | $175,691 |
| Fees for services: Legal | $12,859 |
| Fees for services: Accounting | $18,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,178 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,368 |
| 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 | $1,646 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,366 |
| All other expenses | $0 |
| Total functional expenses | $1,460,076 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,508,780 |
| Savings and temporary cash investments | $200,695 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $136,677 |
| 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 | $0 |
| Investments—publicly traded securities | $11,153,039 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $82,991 |
| Total assets | $13,082,182 |
| Accounts payable and accrued expenses | $21,336 |
| 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 | $0 |
| Total liabilities | $21,336 |
| 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 | $13,060,846 |
| Total liabilities and net assets/fund balances | $13,082,182 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Dakota Grain Dealers Association Benefit Plan And Trust Fargo, ND | $5,940,664 | $17,578,816 |
Nd Rec Benefit Trust Mandan, ND | $7,495,679 | $17,736,079 |
St Anthony's Med Cnt Prof & Gen Liab Milwaukee, WI | $0 | $2,384,132 |
Healthalliance Benefit Plan Urbandale, IA | $4,354,956 | $14,851,406 |
Twin City Sprinkler Fitters Health Care Plan Minneapolis, MN | $17,391,884 | $12,071,213 |
Nonprofit Insurance Trust Lakeville, MN | $40,064,568 | $18,458,548 |
Cuad Health Benefits Trust Bismarck, ND | $3,708,893 | $11,419,816 |
Cottingham And Butler Insurance Service Inc Employee Benefits Trus Dubuque, IA | $1,643,742 | $9,845,922 |
Harbor Group Insurance Trust Sioux Center, IA | $1,977,481 | $10,385,047 |
Marcus Corporation Employee Benefits Trust Milwaukee, WI | $0 | $8,029,877 |
Wisconsin Bankers Association Insurance Trust Fund Sun Prairie, WI | $545,730 | $8,671,517 |
Regency Managed Properties Benefit Trust Sioux Falls, SD | $41,424 | $8,200,839 |