Detroit & Vicinity Trowel Trades Health And Welfare Fund
- Assets
- $20.9m
- Revenue
- $25.5m
- Investments
- $0.0
- Employees
- 8
- Location
- Troy, MI
- Founding
- 05/1977
- Data as of
- 04/2023
- EIN
- 38-2073681
Organization Overview
Detroit & Vicinity Trowel Trades Health And Welfare Fund is located in Troy, MI. The organization was established in 1977. 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 04/2023, Detroit & Vicinity Trowel Trades Health And Welfare Fund employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit & Vicinity Trowel Trades Health And Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 04/2023, Detroit & Vicinity Trowel Trades Health And Welfare Fund generated $25.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $22.8m during the year ending 04/2023. While expenses have increased by 12.1% per year over the past 8 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
THE FUND IS CREATED, ESTABLISHED, AND MAINTAINED FOR THE PURPOSE OF PROVIDING ELIGIBLE EMPLOYEES AND THEIR DEPENDENTS AND/OR BENEFICIATIES WITH MEDICAL, SURGICAL, AND HOSPITAL CARE; BENEFITS IN THE EVENT OF SICKNESS, ACCIDENT, DISABILITY, DEATH, OR UNEMPLOYMENT; AND DENTAL, OPTICAL, AND PRESCRIPTION DRUG CARE; AND FOR THE PURPOSE OF DEFRAYING REASONABLE COSTS OF ADMINISTRATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES FOR HEALTH, MEDICAL, DENTAL, AND VISION BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Dunford Chairman | Trustee | 1 | $0 |
Brett Gierak Trustee | Trustee | 1 | $0 |
Jamers Brylowski Trustee | Trustee | 1 | $0 |
Jim Budd Trustee | Trustee | 1 | $0 |
Greg Lobodzinski Trustee | Trustee | 1 | $0 |
Daryl Nichols Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Of Michigan Benefit Admin | 4/29/23 | $896,703 |
Benesys Inc Tpa | 4/29/23 | $300,110 |
Novara Tesija Pllc Legal | 4/29/23 | $172,179 |
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 | $24,832,755 |
| Investment income | $481,573 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,467,973 |
| 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 | $20,447,888 |
| 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 | $404,138 |
| Pension plan accruals and contributions | $44,075 |
| Other employee benefits | $0 |
| Payroll taxes | $31,847 |
| Fees for services: Management | $912,581 |
| Fees for services: Legal | $204,173 |
| Fees for services: Accounting | $71,870 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,886 |
| Fees for services: Other | $315,123 |
| Advertising and promotion | $0 |
| Office expenses | $159,315 |
| Information technology | $77,661 |
| Royalties | $0 |
| Occupancy | $41,043 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,964 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $23,921 |
| All other expenses | $0 |
| Total functional expenses | $22,758,413 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,867,697 |
| Savings and temporary cash investments | $710,289 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,577,249 |
| 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 | $97,071 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,695,147 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,947,453 |
| Accounts payable and accrued expenses | $801,849 |
| 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 | $7,068,000 |
| Total liabilities | $7,869,849 |
| 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 | $13,077,604 |
| Total liabilities and net assets/fund balances | $20,947,453 |