International Brotherhood Of Teamsters Health & Welfare Fd
- Assets
- $107.0m
- Revenue
- $41.2m
- Investments
- $25.2m
- Employees
- 10
- Location
- Chicago, IL
- Founding
- 02/1960
- Data as of
- 12/2023
- EIN
- 36-2688697
Organization Overview
International Brotherhood Of Teamsters Health & Welfare Fd is located in Chicago, IL. The organization was established in 1960. 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, International Brotherhood Of Teamsters Health & Welfare Fd employed 10 individuals. International Brotherhood Of Teamsters Health & Welfare Fd 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, International Brotherhood Of Teamsters Health & Welfare Fd generated $41.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $39.3m 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
PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Juan Campos Trustee | Trustee | 0.21 | $0 |
Dan Thomas Secretary - Treasurer | Trustee | 0.21 | $0 |
Joseph Bakes Chairman | Trustee | 0.21 | $0 |
Gregory R Foster Trustee | Trustee | 0.21 | $0 |
Kenneth Emauelson Trustee | Trustee | 0.21 | $0 |
William W Gianaras Trustee | Trustee | 0.21 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Segal Co Benefit Consulting And Actuarial Service | 12/30/22 | $186,920 |
Inovative Software Solutions Inc Computer Software | 12/30/22 | $112,503 |
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 | $40,137,280 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $1,353,228 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$303,190 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,238,163 |
| 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 | $36,934,282 |
| Compensation of current officers, directors, key employees. | $81,994 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $548,949 |
| Pension plan accruals and contributions | $259,879 |
| Other employee benefits | $394,805 |
| Payroll taxes | $48,301 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,500 |
| Fees for services: Accounting | $70,021 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $296,797 |
| Fees for services: Other | $144,866 |
| Advertising and promotion | $0 |
| Office expenses | $83,029 |
| Information technology | $128,987 |
| Royalties | $0 |
| Occupancy | $149,544 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,687 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,267 |
| Insurance | $68,336 |
| All other expenses | $0 |
| Total functional expenses | $39,341,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,211,079 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,474,730 |
| 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 | $134,057 |
| Net Land, buildings, and equipment | $8,755 |
| Investments—publicly traded securities | $69,734,598 |
| Investments—other securities | $25,218,281 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,187,222 |
| Total assets | $106,968,722 |
| Accounts payable and accrued expenses | $90,114 |
| 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 | $9,843,368 |
| Total liabilities | $9,933,482 |
| 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 | $97,035,240 |
| Total liabilities and net assets/fund balances | $106,968,722 |