Construction Industry Welfare Fund
- Assets
- $22.9m
- Revenue
- $21.9m
- Investments
- $0.0
- Employees
- 43
- Location
- Rockford, IL
- Founding
- 08/1985
- Data as of
- 10/2023
- EIN
- 36-2265130
Organization Overview
Construction Industry Welfare Fund is located in Rockford, IL. The organization was established in 1985. 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 10/2023, Construction Industry Welfare Fund employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Construction Industry 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 10/2023, Construction Industry Welfare Fund generated $21.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $19.2m during the year ending 10/2023. 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
TO PROVIDE HEALTH BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, DENTAL, VISION, PRESCRIPTION DRUGS, LIFE, AND LOSS OF TIME BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Art Sturms Labor Co-Chair | Trustee | 3 | $0 |
Richard Boyd Labor Trustee - Past | Trustee | 3 | $0 |
David Anspaugh Mgmt - Co-Chair | Trustee | 3 | $0 |
Bruce Werning Labor Trustee - Past | Trustee | 3 | $0 |
Jeff Bockhop Mgmt Trustee | Trustee | 3 | $0 |
Glen Turpoff Mgmt Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Group Administrators Ltd Third Party Administrator | 10/30/22 | $347,745 |
Hines & Associates Utilization Review | 10/30/22 | $110,556 |
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 | $21,054,422 |
| Investment income | $620,953 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $81,460 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,887,638 |
| 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 | $18,295,053 |
| Compensation of current officers, directors, key employees. | $108,221 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,240 |
| Pension plan accruals and contributions | $4,152 |
| Other employee benefits | $24,324 |
| Payroll taxes | $9,952 |
| Fees for services: Management | $405,981 |
| Fees for services: Legal | $97,342 |
| Fees for services: Accounting | $74,771 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,962 |
| Fees for services: Other | $79,503 |
| Advertising and promotion | $0 |
| Office expenses | $30,901 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,375 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,030 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,075 |
| Insurance | $15,282 |
| All other expenses | $5,228 |
| Total functional expenses | $19,241,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,791 |
| Savings and temporary cash investments | $6,181,648 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,343,636 |
| 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 | $16,796 |
| Net Land, buildings, and equipment | $6,940 |
| Investments—publicly traded securities | $13,145,909 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,997 |
| Total assets | $22,850,717 |
| Accounts payable and accrued expenses | $25,048 |
| Grants payable | $0 |
| Deferred revenue | $90,677 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $499,387 |
| 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 | $718,064 |
| Total liabilities | $1,333,176 |
| 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 | $21,517,541 |
| Total liabilities and net assets/fund balances | $22,850,717 |