Seiu Local 1 & Participating Employers Health Trust
- Assets
- $152.4m
- Revenue
- $146.6m
- Investments
- $0.0
- Employees
- 25
- Location
- Chicago, IL
- Founding
- 08/1975
- Data as of
- 09/2023
- EIN
- 36-2857218
Organization Overview
Seiu Local 1 & Participating Employers Health Trust is located in Chicago, IL. The organization was established in 1975. 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 09/2023, Seiu Local 1 & Participating Employers Health Trust employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seiu Local 1 & Participating Employers Health Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2023, Seiu Local 1 & Participating Employers Health Trust generated $146.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $136.4m during the year ending 09/2023. While expenses have increased by 2.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH CARE BENEFITS TO COVERED MEMBERS OF SEIU LOCAL 1 AND THEIR ELIGIBLE DEPENDENTS ESTABLISHED BY A COLLECTIVE BARGAINING AGREEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH BENEFITS (HOSPITAL, SURGICAL, MAJOR MEDICAL AND DISABILITY) TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Genie Kastrup Trustee | Trustee | 2 | $0 |
Kenneth Munz Trustee | Trustee | 2 | $0 |
Robert Pawlaszek Trustee | Trustee | 2 | $0 |
Krystal Kurinsky Trustee | Trustee | 2 | $0 |
Tim Conway Trustee | Trustee | 2 | $0 |
Dean Johnson Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Of Illinois Ppo Provider | 9/29/23 | $1,566,438 |
Asher Gittler & D'alba Ltd Law Firm | 9/29/23 | $137,283 |
Amalgatrust Company Inc Investment Manager | 9/29/23 | $239,076 |
Bansley And Kiener Llp Accounting Firm | 9/29/23 | $110,005 |
Benefits Management Group Inc Benefit Mgmt It Provider | 9/29/23 | $112,880 |
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 | $140,842,076 |
| Investment income | $4,582,894 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $723,096 |
| Net Gain/Loss on Asset Sales | $236,896 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $146,560,969 |
| 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 | $131,685,798 |
| Compensation of current officers, directors, key employees. | $287,315 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,732,281 |
| Pension plan accruals and contributions | $465,778 |
| Other employee benefits | $416,635 |
| Payroll taxes | $151,259 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $190,282 |
| Fees for services: Accounting | $146,405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $237,964 |
| Fees for services: Other | $139,517 |
| Advertising and promotion | $0 |
| Office expenses | $285,166 |
| Information technology | $288,763 |
| Royalties | $0 |
| Occupancy | $148,852 |
| Travel | $8,802 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,331 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,182 |
| Insurance | $104,807 |
| All other expenses | $60,208 |
| Total functional expenses | $136,395,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$102,295 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,256,402 |
| 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 | $81,680 |
| Net Land, buildings, and equipment | $198,748 |
| Investments—publicly traded securities | $140,013,023 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $152,447,558 |
| Accounts payable and accrued expenses | $237,789 |
| 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 | $0 |
| Total liabilities | $237,789 |
| 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 | $152,209,769 |
| Total liabilities and net assets/fund balances | $152,447,558 |