Ocu Health & Welfare Trust
- Assets
- $273.8m
- Revenue
- $28.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Covina, CA
- Founding
- 10/2010
- Data as of
- 12/2023
- EIN
- 26-1574455
Organization Overview
Ocu Health & Welfare Trust is located in Covina, CA. The organization was established in 2010. According to its NTEE Classification (Y44) the organization is classified as: Voluntary Employees Beneficiary Associations 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. Ocu Health & Welfare Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Ocu Health & Welfare Trust generated $28.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $26.7m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HEALTH & WELFARE BENEFITS PROVIDED TO MEMBERS WHOSE EMPLOYERS CONTRIBUTE TO THE FUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH & WELFARE BENEFITS PROVIDED TO MEMBERS WHOSE EMPLOYERS CONTRIBUTE TO THE FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Sulzbach Trustee | Trustee | 10 | $0 |
Dawn Feikema Trustee | Trustee | 10 | $0 |
Christopher Rapp Trustee | Trustee | 10 | $0 |
John Fageaux Trustee | Trustee | 10 | $0 |
Rex Mcnamara Trustee | Trustee | 10 | $0 |
Debbie Karmelich Trustee | Trustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pacific Southwest Administrators Third Party Administrators | 12/30/23 | $302,649 |
Asb Capital Management Investment Manager | 12/30/23 | $200,193 |
Anthemblue Cross Claims Administration | 12/30/23 | $191,577 |
Epic Brokers Benefit Consultant | 12/30/23 | $122,400 |
State Street Global Advisors Investment Manager | 12/30/23 | $117,446 |
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 | $24,657,885 |
| Investment income | $777,246 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,040,126 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,475,257 |
| 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 | $25,186,056 |
| 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 | $416,866 |
| Fees for services: Legal | $74,904 |
| Fees for services: Accounting | $48,137 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $414,898 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $34,368 |
| 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 | $7,232 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $31,624 |
| All other expenses | $15,743 |
| Total functional expenses | $26,667,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,918 |
| Savings and temporary cash investments | $7,653,270 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $773,813 |
| 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 | $4,497 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $265,332,114 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $273,775,612 |
| Accounts payable and accrued expenses | $202,768 |
| 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 | $2,175,000 |
| Total liabilities | $2,377,768 |
| 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 | $271,397,844 |
| Total liabilities and net assets/fund balances | $273,775,612 |