International Union Of Operating Engineers Local 324 Health & Welfa
- Assets
- $11.4m
- Revenue
- $7.5m
- Investments
- $4.5m
- Employees
- 13
- Location
- Troy, MI
- Founding
- 08/1993
- Data as of
- 09/2021
- EIN
- 38-2243531
Organization Overview
International Union Of Operating Engineers Local 324 Health & Welfa is located in Troy, MI. The organization was established in 1993. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 09/2021, International Union Of Operating Engineers Local 324 Health & Welfa employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Union Of Operating Engineers Local 324 Health & Welfa 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, International Union Of Operating Engineers Local 324 Health & Welfa generated $7.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $7.5m during the year ending 09/2021. While expenses have increased by 4.0% 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
HEALTH AND WELFARE TRUST FUND PROVIDING MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTION OF CONTRIBUTIONS FROM PARTICIPATING EMPLOYERS AND REMITTANCE OF PREMIUMS AND CLAIMS TO INSURANCE COMPANIES AND CONTRACT BENEFIT ADMINISTRATORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Mccarthy Secretary | OfficerTrustee | 1 | $0 |
John Healy Chairman | OfficerTrustee | 1 | $0 |
Ken Dombrow Trustee | Trustee | 1 | $0 |
Douglas Stockwell Trustee | Trustee | 1 | $0 |
Thomas Barker Trustee | Trustee | 1 | $0 |
Russell Mcfee Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Of Michigan Administration And Stop Loss Fees | 9/29/20 | $316,702 |
Benesys Inc Administration Of Health Benefits | 9/29/20 | $231,794 |
Blue Cross Blue Shield Of Michigan Administration And Stop Loss Fees | 9/29/20 | $316,702 |
Benesys Inc Administration Of Health Benefits | 9/29/20 | $231,794 |
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 | $7,217,666 |
| Investment income | $116,830 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $137,810 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,479,654 |
| 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 | $6,440,741 |
| 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 | $543,731 |
| Fees for services: Legal | $12,295 |
| Fees for services: Accounting | $44,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $437,631 |
| Fees for services: Other | $17,598 |
| Advertising and promotion | $0 |
| Office expenses | $11,705 |
| 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 | $127 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,259 |
| All other expenses | $0 |
| Total functional expenses | $7,535,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $946,002 |
| Savings and temporary cash investments | $2,087,348 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $183,812 |
| 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 | $194,011 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,557,348 |
| Investments—other securities | $4,476,338 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,444,859 |
| Accounts payable and accrued expenses | $1,220,004 |
| 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 | $2,873,045 |
| Total liabilities | $4,093,049 |
| 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 | $7,351,810 |
| Total liabilities and net assets/fund balances | $11,444,859 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pierce-Pepin Cooperative Services Ellsworth, WI | $45,602,496 | $18,833,383 |
Alternative Services Inc Livonia, MI | $7,366,865 | $19,260,282 |
Employ Milwaukee Inc Milwaukee, WI | $5,350,025 | $18,087,018 |
Berrien-Cass-Vanburen Workforce Development Board Inc Benton Harbor, MI | $2,581,468 | $13,721,312 |
Jobworks Inc Fort Wayne, IN | $2,850,480 | $13,765,612 |
Ohio Operating Engineers Apprenticeship Fund Columbus, OH | $28,221,332 | $11,797,420 |
Wisconsin Operating Engineers Skill Improvement And Apprenticeship Fun Pewaukee, WI | $22,671,605 | $11,410,505 |
United Labor Agency Inc Cleveland, OH | $1,262,964 | $7,870,324 |
Hobart Institute Of Welding Technology Troy, OH | $21,990,854 | $8,624,823 |
International Union Of Operating Engineers Local 324 Health & Welfa Troy, MI | $11,444,859 | $7,479,654 |
Michigan Statewide Carpenters And Millwrights Jatc Fund Lansing, MI | $41,111,289 | $11,191,955 |
Northeast Indian Works Inc Fort Wayne, IN | $1,136,996 | $7,211,329 |