Health & Welfare Trust
- Assets
- $6.0m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 40
- Location
- Schaumburg, IL
- Founding
- 08/1956
- Data as of
- 02/2023
- EIN
- 36-6076696
Organization Overview
Health & Welfare Trust is located in Schaumburg, IL. The organization was established in 1956. 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 02/2023, Health & Welfare Trust employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health & Welfare Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 02/2023, Health & Welfare Trust generated $7.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $7.2m during the year ending 02/2023. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 8 years. 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
PROVIDING HEALTH, DENTAL, PRESCRIPTION, AND DEATH BENEFITS FOR ELIGIBLE PARTICIPANTS WHO PERFORMED WORK UNDER THE COLLECTIVE BARGAINING AGREEMENT WITH THE LOCAL UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HEALTH, DENTAL, PRESCRIPTION, AND DEATH BENEFITS TO ELIGIBLE MEMBERS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Simmons-Peterson Trustee | Officer | 2.5 | $0 |
James Thomas Alternate Trustee | Officer | 2.5 | $0 |
Jose Silva Trustee | Officer | 2.5 | $0 |
Jay Sandler Trustee | Officer | 2.5 | $0 |
David Kozin Trustee | Officer | 2.5 | $0 |
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 | $7,323,693 |
| Investment income | $97,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,483 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,412,192 |
| 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 | $6,860,576 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $51,000 |
| Fees for services: Legal | $43,997 |
| Fees for services: Accounting | $24,833 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,646 |
| Fees for services: Other | $112,809 |
| Advertising and promotion | $0 |
| Office expenses | $6,049 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,064 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,573 |
| All other expenses | $15,133 |
| Total functional expenses | $7,160,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $653,109 |
| Savings and temporary cash investments | $616,464 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,258 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $132,307 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,657 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,501,765 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,010 |
| Total assets | $5,950,570 |
| Accounts payable and accrued expenses | $16,254 |
| 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 | $34,134 |
| Total liabilities | $50,388 |
| 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 | $5,900,182 |
| Total liabilities and net assets/fund balances | $5,950,570 |