Local 734 Welfare Fund
- Assets
- $15.9m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 10
- Location
- Chicago, IL
- Founding
- 01/1958
- Data as of
- 04/2021
- EIN
- 36-2272414
Organization Overview
Local 734 Welfare Fund is located in Chicago, IL. The organization was established in 1958. 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 04/2021, Local 734 Welfare Fund employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 734 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 04/2021, Local 734 Welfare Fund generated $11.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $13.0m during the year ending 04/2021. 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
PROVIDE HEALTH BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH CARE, DENTAL, VISION, DEATH AND DISABILITY BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Boehm Fund Administrator | Officer | 20 | $106,200 |
Mark Mizera Trustee | Trustee | 35 | $64,315 |
Scott Kunz Trustee | Trustee | 1 | $0 |
Steve Waltz Trustee | Trustee | 1 | $0 |
Brian Meidel Trustee | Trustee | 2 | $0 |
Robert Cruice Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $341,696 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $613,866 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,857,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $11,989,935 |
| Compensation of current officers, directors, key employees. | $38,957 |
| Compensation to disqualified persons | $173,413 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $26,302 |
| Other employee benefits | $43,836 |
| Payroll taxes | $16,730 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,046 |
| Fees for services: Accounting | $122,470 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,003 |
| Fees for services: Other | $48,985 |
| Advertising and promotion | $0 |
| Office expenses | $58,537 |
| Information technology | $224,082 |
| Royalties | $0 |
| Occupancy | $113,789 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $923 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,126 |
| Insurance | $12,552 |
| All other expenses | $0 |
| Total functional expenses | $13,016,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $632,199 |
| Savings and temporary cash investments | $62,167 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $791,775 |
| 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 | $32,496 |
| Investments—publicly traded securities | $14,225,218 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $64,447 |
| Total assets | $15,861,419 |
| Accounts payable and accrued expenses | $24,079 |
| 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 | $15,851 |
| Total liabilities | $39,930 |
| 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 |
| Total liabilities and net assets/fund balances | $15,821,489 |