Structural Iron Workers-1 Welfare Fund
- Assets
- $58.2m
- Revenue
- $49.5m
- Investments
- $34.6m
- Employees
- 0
- Location
- Forest Park, IL
- Founding
- 03/1952
- Data as of
- 12/2021
- EIN
- 36-2196735
Organization Overview
Structural Iron Workers-1 Welfare Fund is located in Forest Park, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Structural Iron Workers-1 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 12/2021, Structural Iron Workers-1 Welfare Fund generated $49.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $39.2m during the year ending 12/2021. While expenses have increased by 1.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PARTICIPANTS AND THEIR BENEFICIARIES BENEFITS AS DESCRIBED IN THE PLAN DOCUMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES MEDICAL, DENTAL, OPTICAL, HEARING AIDS, DISABILITY, DEATH BENEFITS AND HEALTH REIMBURSEMENT ACCOUNTS TO ELIGIBLE PARTICIPANTS AND THEIR BENEFICIARIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Clark Employer Trustee | Trustee | 0.3 | $0 |
David Quin Employer Trustee | Trustee | 0.3 | $0 |
Craig Satalic Union Trustee | Trustee | 0.3 | $0 |
Maureen Esposito Employer Trustee | Trustee | 0.3 | $0 |
John Gardiner Union Trustee | Trustee | 0.3 | $0 |
Todd Villa Union Trustee | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Healthcare Provider | 12/30/21 | $952,926 |
Group Administrators Ltd Claims Processing | 12/30/21 | $390,980 |
Remedy Analytics Consulting Services | 12/30/21 | $120,000 |
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 | $31,513,374 |
| Investment income | $2,370,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,154,668 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,515,997 |
| 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 | $38,447,500 |
| 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 | $0 |
| Fees for services: Legal | $105,028 |
| Fees for services: Accounting | $61,313 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $114,316 |
| Fees for services: Other | $192,812 |
| Advertising and promotion | $0 |
| Office expenses | $21,411 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,608 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $79 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,264 |
| All other expenses | $0 |
| Total functional expenses | $39,177,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $931,306 |
| Savings and temporary cash investments | $26,715 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,685,173 |
| 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 | $62,128 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $17,416,019 |
| Investments—other securities | $34,638,908 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,401,263 |
| Total assets | $58,161,512 |
| Accounts payable and accrued expenses | $27,479 |
| 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 | $39,496,734 |
| Total liabilities | $39,524,213 |
| Net assets without donor restrictions | $18,637,299 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $58,161,512 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seiu Local 1 & Participating Employers Health Trust Chicago, IL | $156,543,336 | $132,715,763 |
Hyatt Corporation Welfare Benefit Trust Chicago, IL | $6,191,969 | $127,454,104 |
Cook Group Health Plan Trust Bloomington, IN | $8,118,336 | $121,299,897 |
Kindred Operating Inc Benefit Trust Louisville, KY | $0 | $114,052,809 |
Wisconsin Laborers Health Fund Deforest, WI | $353,332,580 | $101,359,419 |
Mid Central Operating Engineers Health & Welfare Fund Terre Haute, IN | $164,227,966 | $120,915,120 |
Olin Employees Benefit Association Trust Clayton, MO | $9,540,806 | $107,158,504 |
Seiu Healthcare Il Home Care & Child Care Fund Chicago, IL | $235,309,739 | $118,872,167 |
Kraft Foods Global Inc Retiree Health And Life Benefit Tr Chicago, IL | $1,155,325,144 | $69,120,518 |
Teamsters & Employers Welfare Trust Of Illinois Earth City, MO | $101,818,713 | $113,173,281 |
Indiana Laborers Welfare Fund Terre Haute, IN | $297,651,155 | $117,994,109 |
Automobile Mechanics-701 Union And Industry Welfare Fund-Trust Burr Ridge, IL | $251,648,514 | $107,015,909 |