Automobile Mechanics-701 Union And Industry Welfare Fund-Trust
- Assets
- $276.5m
- Revenue
- $120.7m
- Investments
- $14.1m
- Employees
- 14
- Location
- Burr Ridge, IL
- Founding
- 10/1958
- Data as of
- 12/2023
- EIN
- 36-2331071
Organization Overview
Automobile Mechanics-701 Union And Industry Welfare Fund-Trust is located in Burr Ridge, 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 12/2023, Automobile Mechanics-701 Union And Industry Welfare Fund-Trust employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Automobile Mechanics-701 Union And Industry Welfare Fund-Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Automobile Mechanics-701 Union And Industry Welfare Fund-Trust generated $120.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $96.7m during the year ending 12/2023. While expenses have increased by 2.2% per year over the past 9 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
TO PROVIDE MEDICAL, DENTAL, VISION, LIFE AND DISABILITY BENFITS TO ELIGIBLE PARTICIPANTS AND THEIR BENEFICIARIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, DENTAL, VISION, LIFE AND DISABILITY BENFITS TO ELIGIBLE PARTICIPANTS AND THEIR BENEFICIARIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Konecki Trustee | Trustee | 1 | $0 |
Sam Cicinelli Trustee | Trustee | 1 | $0 |
Ronald Fetty Trustee | Trustee | 1 | $0 |
Robert Keppler Trustee | Trustee | 1 | $0 |
David Mashek Trustee | Trustee | 1 | $0 |
Mark Grasseschi Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Claims Administrative Services | 12/30/23 | $2,732,944 |
Paydhealth Llc Claims Management | 12/30/23 | $1,579,538 |
Empirx Claims Management | 12/30/23 | $1,217,696 |
Professional Benefit Administrators Claims Management | 12/30/23 | $1,093,554 |
Valenz Care Claims Management | 12/30/23 | $645,959 |
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 | $113,261,763 |
| Investment income | $5,945,377 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,253,865 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $120,736,960 |
| 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 | $93,772,873 |
| Compensation of current officers, directors, key employees. | $276,900 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $753,219 |
| Pension plan accruals and contributions | $179,220 |
| Other employee benefits | $199,438 |
| Payroll taxes | $78,521 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $395,506 |
| Fees for services: Accounting | $108,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $293,853 |
| Fees for services: Other | $201,230 |
| Advertising and promotion | $0 |
| Office expenses | $190,538 |
| Information technology | $117,071 |
| Royalties | $0 |
| Occupancy | $67,738 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,211 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,620 |
| Insurance | $37,931 |
| All other expenses | $0 |
| Total functional expenses | $96,707,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $224,714 |
| Savings and temporary cash investments | $7,105,063 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,777,078 |
| 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 | $0 |
| Net Land, buildings, and equipment | $14,556 |
| Investments—publicly traded securities | $243,241,822 |
| Investments—other securities | $14,136,090 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,941 |
| Total assets | $276,532,264 |
| Accounts payable and accrued expenses | $703,879 |
| 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 | $11,269,360 |
| Total liabilities | $11,973,239 |
| 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 | $264,559,025 |
| Total liabilities and net assets/fund balances | $276,532,264 |