Milwaukee Drivers Health & Welfare Trust Fund
- Assets
- $63.1m
- Revenue
- $65.9m
- Investments
- $7.1m
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 01/1960
- Data as of
- 06/2023
- EIN
- 39-6048358
Organization Overview
Milwaukee Drivers Health & Welfare Trust Fund is located in Milwaukee, WI. The organization was established in 1960. 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. Milwaukee Drivers Health & Welfare Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, Milwaukee Drivers Health & Welfare Trust Fund generated $65.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $69.1m during the year ending 06/2023. While expenses have increased by 6.2% 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
MEDICAL, DENTAL, DISABILITY, LIFE INS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE PAYMENT OF MEDICAL, DENTAL, VISION, DISABILITY, LIFE, AND ACCIDENTAL DEATH & DISMEMBERMENT BENEFITS TO ELIGIBLE MEMBERS AND THEIR DEPENDENTS AT YEAR END IN ACCORDANCE WITH THE PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Carroll Trustee | Trustee | 3 | $0 |
John Engler Trustee | Trustee | 3 | $0 |
Stephen Musson Trustee | Trustee | 3 | $0 |
Mark Kirsch Former Trustee | Trustee | 3 | $0 |
Eric Kukor Former Trustee | Trustee | 3 | $0 |
Frank Samra Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Humana Inc Claims Administrator | 6/29/23 | $2,417,788 |
Employer Health Care Alliance Cooperativ Claims Processing | 6/29/23 | $140,060 |
The Segal Company Consulting/actuary | 6/29/23 | $135,299 |
Soldon Law Firm Llc Attorney | 6/29/23 | $119,007 |
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 | $72,342,836 |
| Investment income | $1,306,850 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,737,060 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,912,626 |
| 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 | $65,904,915 |
| 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 | $0 |
| Fees for services: Legal | $125,367 |
| Fees for services: Accounting | $28,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,550 |
| Fees for services: Other | $2,545,473 |
| Advertising and promotion | $0 |
| Office expenses | $55,389 |
| Information technology | $14,040 |
| Royalties | $0 |
| Occupancy | $6,192 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,779 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,144 |
| Insurance | $36,005 |
| All other expenses | $351,250 |
| Total functional expenses | $69,130,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $5,478,765 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,129,742 |
| 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 | $17,132 |
| Net Land, buildings, and equipment | $104,306 |
| Investments—publicly traded securities | $45,207,127 |
| Investments—other securities | $7,120,457 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,525 |
| Total assets | $63,079,304 |
| Accounts payable and accrued expenses | $44,169 |
| 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 | $13,240,700 |
| Total liabilities | $13,284,869 |
| 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 | $49,794,435 |
| Total liabilities and net assets/fund balances | $63,079,304 |