United Food & Commercial Workers Union-Employer Hlth & Welfare Fund
- Assets
- $90.0m
- Revenue
- $125.1m
- Investments
- $0.0
- Employees
- 28
- Location
- Broadview Heights, OH
- Founding
- 02/1959
- Data as of
- 09/2023
- EIN
- 34-6726563
Organization Overview
United Food & Commercial Workers Union-Employer Hlth & Welfare Fund, operating under the name Health & Welfare Fund, is located in Broadview Heights, OH. The organization was established in 1959. 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. As of 09/2023, Health & Welfare Fund employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 09/2023, Health & Welfare Fund generated $125.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $120.5m during the year ending 09/2023. 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
PROVIDE HEALTH AND WELFARE BENEFITS TO PARTICIPANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL, DENTAL AND DISABILITY BENEFITS- THE FUND IN CONJUCTION WITH MEDICAL MUTUAL LIFE INSURANCE COMPANY,METROHEALTH AND MEDICAL MUTUAL OF OHIO PROVIDES VARIOUS HOSPITAL, SURGICAL, MEDICAL, ACCIDENT AND SICKNESS, WEEKLY INDEMNITY, AND LIFE INSURANCE BENEFITS TO APPROXIMATELY 16,000 MEMBERS
TO PROVIDE AFFORDABLE HEALTH CARE FOR ITS MEMBERS
PAID PRESCRIPTION PROGRAM- THE FUND HAS CONTRACTED WITH CAREMARK TO PROVIDE A PROGRAM FOR PRESCRIPTION DRUGS. THE PROGRAM REQUIRES MEMBERS TO PAY 20- 30% TOWARDS EACH PRESCRIPTION. ALSO SOME MEMBERS RECEIVE REIMBURSEMENTS THROUGH MAJOR MEDICAL. APPROXIMATELY 12,000 MEMBERS ARE COVERED UNDER THIS PLAN.
EYE CARE PROGRAM. THE FUND PROVIDES VISION BENEFITS THROUGH DIRECT REIMBURSEMENT OR WITH VARIOUS PROVIDERS. THE PROGRAM PROVIDES A FULLY PAID EYE CARE PROGRAM TO APPROXIMATELY 16,000 MEMBERS. THIS PROGRAM PROVIDES A FREE EYE EXAMINATION AND A PAIR OF GLASSES EVERY 24 MONTHS FOR ADULTS AND EVERY 12 MONTHS FOR CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sasha Phillips Employer Tru | Trustee | $0 | |
Nick Albrecht Employer Tru | Trustee | $0 | |
Jim Trout Employer Tru | Trustee | $0 | |
Thomas Heinen Employer Tru | Trustee | $0 | |
Miles Anderson Union Truste | Trustee | $0 | |
Carl Ivka Union Truste | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Merrill Lynch Investment | 9/29/23 | $356,954 |
Wainblat Law Llc Legal Fees | 9/29/23 | $265,820 |
Cunningham & Associates Accounting Fees | 9/29/23 | $146,700 |
Infostore Records | 9/29/23 | $146,313 |
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 | $116,814,817 |
| Investment income | $2,809,412 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $125,102,821 |
| 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 | $116,958,612 |
| 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 | $1,031,012 |
| Pension plan accruals and contributions | $146,573 |
| Other employee benefits | $422,992 |
| Payroll taxes | $83,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $267,866 |
| Fees for services: Accounting | $132,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $318,212 |
| Fees for services: Other | $21,203 |
| Advertising and promotion | $0 |
| Office expenses | $255,510 |
| Information technology | $283,548 |
| Royalties | $0 |
| Occupancy | $265,686 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,056 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $34,628 |
| All other expenses | $22,449 |
| Total functional expenses | $120,482,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,756,175 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,864,361 |
| 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 | $23,308 |
| Net Land, buildings, and equipment | $332,575 |
| Investments—publicly traded securities | $75,063,733 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $90,040,152 |
| Accounts payable and accrued expenses | $255,074 |
| 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 | $26,858,277 |
| Total liabilities | $27,113,351 |
| 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 | $62,926,801 |
| Total liabilities and net assets/fund balances | $90,040,152 |