Automobile Mechanics-701 Union And Industry Welfare Fund-Trust
- Assets
- $251.6m
- Revenue
- $107.0m
- Investments
- $14.6m
- Employees
- 17
- Location
- Burr Ridge, IL
- Founding
- 10/1958
- Data as of
- 12/2021
- 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 12/2021, Automobile Mechanics-701 Union And Industry Welfare Fund-Trust employed 17 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 12/2021, Automobile Mechanics-701 Union And Industry Welfare Fund-Trust generated $107.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $93.5m during the year ending 12/2021. While expenses have increased by 2.3% 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 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 |
|---|---|---|---|
Steve Bukovac Fund Administrator | Officer | 40 | $273,060 |
Jeanine Earth-Gillund Assistant Administrator | Officer | 40 | $168,630 |
Kristine Bendy Accounting Manager/control | 40 | $114,685 | |
Sam Cicinelli Trustee | Trustee | 1 | $0 |
Chris Konecki Trustee | Trustee | 1 | $0 |
Ronald Fetty Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Claims Administrative Services | 12/30/21 | $2,715,597 |
Professional Benefit Administrators Claims Management | 12/30/21 | $956,972 |
Empirx Claims Management | 12/30/21 | $386,478 |
Medical Cost Management Group Claims Management | 12/30/21 | $559,982 |
Paydhealth Llc Claims Management | 12/30/21 | $2,325,703 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $263,175 |
| 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 | $263,175 |
| Total Program Service Revenue | $90,322,705 |
| Investment income | $4,790,306 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,528,922 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $107,015,909 |
| 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 | $90,738,865 |
| Compensation of current officers, directors, key employees. | $541,139 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $661,762 |
| Pension plan accruals and contributions | $116,968 |
| Other employee benefits | $162,325 |
| Payroll taxes | $86,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $218,559 |
| Fees for services: Accounting | $107,551 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $296,393 |
| Fees for services: Other | $176,607 |
| Advertising and promotion | $0 |
| Office expenses | $162,728 |
| Information technology | $122,700 |
| Royalties | $0 |
| Occupancy | $69,218 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,377 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,067 |
| Insurance | $36,827 |
| All other expenses | $0 |
| Total functional expenses | $93,513,601 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $553,466 |
| Savings and temporary cash investments | $4,826,322 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,763,674 |
| 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 | $33,019 |
| Investments—publicly traded securities | $223,827,111 |
| Investments—other securities | $14,586,854 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,068 |
| Total assets | $251,648,514 |
| Accounts payable and accrued expenses | $424,113 |
| 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 | $15,824,124 |
| Total liabilities | $16,248,237 |
| 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 | $235,400,277 |
| Total liabilities and net assets/fund balances | $251,648,514 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Line Construction Benefit Fund Lombard, IL | $1,499,726,971 | $1,007,885,123 |
Wea Insurance Corporation Madison, WI | $792,635,009 | $692,190,590 |
Accenture United States Benefit Chicago, IL | $73,988,977 | $691,324,713 |
Us Bancorp Comp Welfare Benefit Plan Milwaukee, WI | $0 | $532,086,986 |
Safeway Inc Welfare Benefit Tr Chicago, IL | $0 | $500,055,601 |
Exelon Corporation Employees Benefit Trust Chicago, IL | $65,808,636 | $520,300,939 |
Midwest Operating Engineers Welfare Fund Countryside, IL | $1,803,952,687 | $632,490,889 |
United Airlines Employee Sick Leave Tr Chicago, IL | $37,583,032 | $320,362,024 |
Christian Brothers Employee Benefit Trust Romeoville, IL | $200,286,111 | $339,796,574 |
Chicago District Council Of Carpenters Welfare Fund Chicago, IL | $1,016,590,757 | $296,188,790 |
Carpenters Health & Welfare Trust Fund Of St Louis St Louis, MO | $168,277,664 | $240,301,966 |
Electrical Insurance Trustees Chicago, IL | $773,934,785 | $263,143,563 |