Middletown Works Hourly & Salaried Union Retirees Health Care Fund
- Assets
- $736.5m
- Revenue
- $37.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Middletown, OH
- Founding
- 04/2009
- Data as of
- 12/2021
- EIN
- 36-7485085
Organization Overview
Middletown Works Hourly & Salaried Union Retirees Health Care Fund is located in Middletown, OH. The organization was established in 2009. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Middletown Works Hourly & Salaried Union Retirees Health Care Fund 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, Middletown Works Hourly & Salaried Union Retirees Health Care Fund generated $37.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $42.4m during the year ending 12/2021. 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 BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, PRESCRIPTION DRUG, DENTAL, VISION, AND/OR LIFE INSURANCE BENEFITS FOR ELIGIBLE RETIREES AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roger Mcclow Chairman | Trustee | 8 | $35,500 |
Jay Youngdahl Trustee | Trustee | 8 | $31,000 |
Michael Bailey Co-Chairman | Trustee | 8 | $12,550 |
Roger Minor Trustee | Trustee | 8 | $10,550 |
Brian Daley Trustee | Trustee | 8 | $10,550 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benefits Management Group Inc Third Party Administrator | 12/30/21 | $561,443 |
Umr Medical Claims Administrator | 12/30/21 | $222,856 |
Amalgamated Bank Investment Manager/custodian | 12/30/21 | $148,408 |
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 | $3,288,267 |
| Investment income | $15,209,736 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,466,981 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,616,244 |
| 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 | $40,708,922 |
| Compensation of current officers, directors, key employees. | $97,250 |
| 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 | $820,674 |
| Fees for services: Legal | $30,778 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $294,418 |
| Fees for services: Other | $185,896 |
| Advertising and promotion | $0 |
| Office expenses | $185,516 |
| 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 | $15,600 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $64,388 |
| All other expenses | $8,903 |
| Total functional expenses | $42,412,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,138,964 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $364,400 |
| 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 | $141,764 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $724,550,191 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $324,702 |
| Total assets | $736,520,021 |
| Accounts payable and accrued expenses | $129,068 |
| 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 | $1,743,840 |
| Total liabilities | $1,872,908 |
| 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 | $734,647,113 |
| Total liabilities and net assets/fund balances | $736,520,021 |