Seiu Local 1 & Participating Employers Health Trust
- Assets
- $156.5m
- Revenue
- $132.7m
- Investments
- $0.0
- Employees
- 36
- Location
- Chicago, IL
- Founding
- 08/1975
- Data as of
- 09/2021
- 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 09/2021, Seiu Local 1 & Participating Employers Health Trust employed 36 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 09/2021, Seiu Local 1 & Participating Employers Health Trust generated $132.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $124.9m during the year ending 09/2021. While expenses have increased by 1.8% per year over the past 6 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 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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Mcardle Fund Manager - Past | Officer | 40 | $248,550 |
Maria Pizarro Fund Manager | Officer | 40 | $46,610 |
Thomas Balanoff Trustee/chairman | OfficerTrustee | 2 | $0 |
Genie Kastrup Trustee | Trustee | 2 | $0 |
Laura Garza Trustee - Past | Trustee | 2 | $0 |
Kenneth E Munz Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Of Illinois Ppo Admin. Fees | 9/29/21 | $1,709,337 |
Amalgatrust Company Inc Investment Management Fees | 9/29/21 | $221,623 |
Bansley & Kiener Llp Audit & Payroll Audit Services | 9/29/21 | $128,967 |
Benefits Management Group Inc Benefit Admin. It Services | 9/29/21 | $103,528 |
Basys Inc Benefit Admin. It Services | 9/29/21 | $101,407 |
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 | $129,380,563 |
| Investment income | $3,214,382 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $693,758 |
| Net Gain/Loss on Asset Sales | -$721,994 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $132,715,763 |
| 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 | $121,981,820 |
| Compensation of current officers, directors, key employees. | $199,412 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $904,910 |
| Pension plan accruals and contributions | $250,005 |
| Other employee benefits | $222,623 |
| Payroll taxes | $82,165 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $120,706 |
| Fees for services: Accounting | $98,246 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $244,704 |
| Fees for services: Other | $120,457 |
| Advertising and promotion | $0 |
| Office expenses | $199,134 |
| Information technology | $172,294 |
| Royalties | $0 |
| Occupancy | $148,573 |
| Travel | $9,764 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,619 |
| Insurance | $69,516 |
| All other expenses | $61,628 |
| Total functional expenses | $124,926,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,091 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,252,110 |
| 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 | $48,462 |
| Net Land, buildings, and equipment | $109,081 |
| Investments—publicly traded securities | $143,223,547 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,833,045 |
| Total assets | $156,543,336 |
| Accounts payable and accrued expenses | $114,752 |
| Grants payable | $0 |
| Deferred revenue | $165,815 |
| 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 | $16,467,314 |
| Total liabilities | $16,747,881 |
| 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 | $139,795,455 |
| Total liabilities and net assets/fund balances | $156,543,336 |
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 |