Indiana Laborers Welfare Fund
- Assets
- $345.3m
- Revenue
- $127.3m
- Investments
- $167.1m
- Employees
- 281
- Location
- Terre Haute, IN
- Founding
- 05/1957
- Data as of
- 11/2023
- EIN
- 35-0923209
Organization Overview
Indiana Laborers Welfare Fund is located in Terre Haute, IN. The organization was established in 1957. 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 11/2023, Indiana Laborers Welfare Fund employed 281 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Laborers 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 11/2023, Indiana Laborers Welfare Fund generated $127.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $96.7m during the year ending 11/2023. While expenses have increased by 0.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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 & WELFARE BENEFITS TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE (UNDER COLLECTIVE BARGAINING AGREEMENT) FINANCIAL SUPPORT FOR PROGRAMS OF LIFE INSURANCE, HEALTH, ACCIDENT, AND OTHER RELATED BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Short Sec-Treasure | OfficerTrustee | 1 | $0 |
Dave Podlogar Trustee | Trustee | 1 | $0 |
Kevin Roach Trustee | Trustee | 1 | $0 |
Murray Miller Trustee | Trustee | 1 | $0 |
William A Hasse III Trustee | Trustee | 1 | $0 |
Ward Daniels Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Inc Med Claims Proc | 11/29/23 | $3,552,597 |
Hines Management Healthcare Med Claims Proc | 11/29/23 | $948,031 |
Ifm Global Infrastructure Investment Mgmt | 11/29/23 | $282,927 |
Delta Dental Med Claims Proc | 11/29/23 | $272,734 |
Beach Point Loan Fund Investment Mgmt | 11/29/23 | $210,618 |
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 | $123,656,111 |
| Investment income | $6,176,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,491,608 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $127,344,309 |
| 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 | $85,680,793 |
| 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 | $1,604,372 |
| Pension plan accruals and contributions | $595,461 |
| Other employee benefits | $376,025 |
| Payroll taxes | $211,268 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61,740 |
| Fees for services: Accounting | $88,113 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,200,449 |
| Fees for services: Other | $137,852 |
| Advertising and promotion | $0 |
| Office expenses | $411,128 |
| Information technology | $447,068 |
| Royalties | $0 |
| Occupancy | $49,609 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,847 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,210 |
| Insurance | $145,620 |
| All other expenses | $28,680 |
| Total functional expenses | $96,699,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $41,692,891 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,594,453 |
| 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 | $550,176 |
| Net Land, buildings, and equipment | $354,835 |
| Investments—publicly traded securities | $123,422,124 |
| Investments—other securities | $167,056,955 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,591,175 |
| Total assets | $345,262,609 |
| Accounts payable and accrued expenses | $2,640,869 |
| 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 | $19,839,028 |
| Total liabilities | $22,479,897 |
| 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 | $322,782,712 |
| Total liabilities and net assets/fund balances | $345,262,609 |