Chicago Area I B Of T Health & Welfare Trust Fund
- Assets
- $96.1m
- Revenue
- $20.8m
- Investments
- $36.8m
- Employees
- 9
- Location
- Downers Grove, IL
- Founding
- 04/1952
- Data as of
- 01/2024
- EIN
- 36-2187389
Organization Overview
Chicago Area I B Of T Health & Welfare Trust Fund is located in Downers Grove, IL. The organization was established in 1952. 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 01/2024, Chicago Area I B Of T Health & Welfare Trust Fund employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Area I B Of T Health & Welfare Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 01/2024, Chicago Area I B Of T Health & Welfare Trust Fund generated $20.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $21.0m during the year ending 01/2024. While expenses have increased by 11.5% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HEALTH BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, DENTAL, VISION, SICKNESS, AND ACCIDENTAL DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howard Murdoch Trustee | Trustee | 1 | $0 |
Patrick Bruno Trustee | Trustee | 1 | $0 |
Ronald Sandack Trustee | Trustee | 1 | $0 |
Michael Philipp Trustee | Trustee | 1 | $0 |
Joseph Burke Trustee | Trustee | 1 | $0 |
Thomas Stiede Fund Manager | Officer | 4 | $7,767 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Ppo Provider | 1/30/23 | $685,872 |
Laner Muchin Ltd Attorney | 1/30/23 | $106,126 |
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 | $19,613,907 |
| Investment income | $1,154,481 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,217 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,787,076 |
| 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 | $18,897,683 |
| Compensation of current officers, directors, key employees. | $105,580 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $210,405 |
| Pension plan accruals and contributions | $69,661 |
| Other employee benefits | $47,357 |
| Payroll taxes | $31,531 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150,898 |
| Fees for services: Accounting | $81,976 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $118,088 |
| Fees for services: Other | $896,793 |
| Advertising and promotion | $0 |
| Office expenses | $136,029 |
| Information technology | $122,713 |
| Royalties | $0 |
| Occupancy | $21,836 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,561 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,768 |
| Insurance | $41,247 |
| All other expenses | $11,016 |
| Total functional expenses | $20,960,142 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,905 |
| Savings and temporary cash investments | $285,703 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,444,177 |
| 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 | $109,493 |
| Net Land, buildings, and equipment | $72,600 |
| Investments—publicly traded securities | $56,164,798 |
| Investments—other securities | $36,771,651 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $96,138,327 |
| Accounts payable and accrued expenses | $82,870 |
| Grants payable | $0 |
| Deferred revenue | $12,123 |
| 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 | $38,015 |
| Total liabilities | $133,008 |
| 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 | $96,005,319 |
| Total liabilities and net assets/fund balances | $96,138,327 |