Chicago District Council Of Carpenters Welfare Fund is located in Chicago, IL. The organization was established in 1956. 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. Chicago District Council Of Carpenters 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 06/2023, Chicago District Council Of Carpenters Welfare Fund generated $321.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $328.3m during the year ending 06/2023. While expenses have increased by 5.7% 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
HEALTH BENEFIT FUND
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH CARE, PRESCRIPTION, DENTAL, VISION, LIFE AND ACCIDENT, AND DISABILITY BENEFITS FOR ELIGIBLE PLAN PARTICIPANTS AND/OR THEIR DEPENDENTS IN ACCORDANCE WITH THE PLAN DOCUMENT AND SCHEDULE OF BENEFITS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Gerald W Thiel Jr Trustee | Trustee | 2 | $0 |
Kevin Geshwender Trustee | Trustee | 2 | $0 |
Bruce Werning Trustee - Past | Trustee | 2 | $0 |
Mike Forest Trustee | Trustee | 2 | $0 |
George Tuhowski III Trustee | Trustee | 2 | $0 |
Joel Pogose Trustee - New | Trustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Blue Cross Blue Shield Of Illinois Ppo Network Provider | 6/29/23 | $7,120,336 |
Premise Health Employer Solutions Llc Medical Staffing Agency | 6/29/23 | $1,872,097 |
Wellington Management Company Llc Investment Manager | 6/29/23 | $493,522 |
Express Scripts Pharmacy Benefit Manager | 6/29/23 | $726,064 |
Compsych Ppo Network Provider | 6/29/23 | $358,049 |
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 | $300,611,286 |
Investment income | $18,098,888 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $2,864,653 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $321,576,583 |
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 | $316,605,177 |
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 | $498,907 |
Fees for services: Accounting | $90,821 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $1,467,344 |
Fees for services: Other | $417,471 |
Advertising and promotion | $0 |
Office expenses | $297,883 |
Information technology | $85,388 |
Royalties | $0 |
Occupancy | $259,974 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $221,636 |
Insurance | $37,255 |
All other expenses | $0 |
Total functional expenses | $328,271,434 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,869,272 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $25,715,028 |
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 | $7,500 |
Net Land, buildings, and equipment | $763,917 |
Investments—publicly traded securities | $356,996,230 |
Investments—other securities | $486,209,984 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $49,782,224 |
Total assets | $921,344,155 |
Accounts payable and accrued expenses | $653,127 |
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 | $47,343,729 |
Total liabilities | $47,996,856 |
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 | $873,347,299 |
Total liabilities and net assets/fund balances | $921,344,155 |