International Assn Of Heat & Frost Insulators Local 17 Welfare Fund
- Assets
- $57.0m
- Revenue
- $25.9m
- Investments
- $0.0
- Employees
- 8
- Location
- Tinley Park, IL
- Founding
- 12/1955
- Data as of
- 12/2023
- EIN
- 36-2148015
Organization Overview
International Assn Of Heat & Frost Insulators Local 17 Welfare Fund is located in Tinley Park, IL. 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. As of 12/2023, International Assn Of Heat & Frost Insulators Local 17 Welfare Fund employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Assn Of Heat & Frost Insulators Local 17 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 12/2023, International Assn Of Heat & Frost Insulators Local 17 Welfare Fund generated $25.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $28.0m during the year ending 12/2023. While expenses have increased by 1.2% per year over the past 9 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 BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH CARE, DEATH AND DISABILITY BENEFITS TO ELIGIBLE PARTICIPANTS, RETIREES AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Mcgrath Trustee | Trustee | 0.5 | $0 |
Robert Flynn Trustee | Trustee | 1 | $0 |
Peter Castellarin Trustee (past) | Trustee | 1 | $0 |
Ashley Luse Trustee | Trustee | 1 | $0 |
Steve Castellarin Trustee (new) | Trustee | 1 | $0 |
Mary Mcmullin Fund Administrator | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marathon Health Health Clinic Administrator | 12/30/23 | $541,214 |
Milliman Consultant | 12/30/23 | $276,885 |
Union Eyes Llc Eye Clinic Administrator | 12/30/23 | $241,917 |
Ucs Holdings Inc Inetico Llc Dba Vale Case Management | 12/30/23 | $225,492 |
Bridgeway Benefit Technologies Data Processing | 12/30/23 | $128,313 |
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 | $23,409,509 |
| Investment income | $1,588,885 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $330,536 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,931,016 |
| 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 | $25,569,735 |
| Compensation of current officers, directors, key employees. | $274,646 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $556,787 |
| Pension plan accruals and contributions | $204,570 |
| Other employee benefits | $219,372 |
| Payroll taxes | $86,691 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,961 |
| Fees for services: Accounting | $132,015 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $150,565 |
| Fees for services: Other | $294,851 |
| Advertising and promotion | $0 |
| Office expenses | $116,603 |
| Information technology | $168,361 |
| Royalties | $0 |
| Occupancy | $95,043 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,623 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,956 |
| Insurance | $35,040 |
| All other expenses | $0 |
| Total functional expenses | $28,032,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $488,366 |
| Savings and temporary cash investments | $983,874 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,811,700 |
| 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 | $237,549 |
| Net Land, buildings, and equipment | $164,186 |
| Investments—publicly traded securities | $52,271,210 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $56,956,885 |
| Accounts payable and accrued expenses | $136,867 |
| 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 | $136,867 |
| 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 | $56,820,018 |
| Total liabilities and net assets/fund balances | $56,956,885 |