Milwaukee Drivers Health & Welfare Trust Fund
- Assets
- $57.5m
- Revenue
- $67.7m
- Investments
- $6.8m
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 01/1960
- Data as of
- 06/2022
- 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 06/2022, Milwaukee Drivers Health & Welfare Trust Fund generated $67.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $66.4m during the year ending 06/2022. While expenses have increased by 6.5% per year over the past 7 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
2022
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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PDF Copies of 990 Filings
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 Trustee | Trustee | 3 | $0 |
Eric Kukor Trustee | Trustee | 3 | $0 |
Frank Samra Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Humana Inc Claims Administrator | 6/29/22 | $2,339,748 |
Employer Health Care Alliance Cooperativ Claims Processing | 6/29/22 | $121,881 |
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 | $69,704,023 |
| Investment income | $814,971 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,779,911 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,739,083 |
| 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 | $63,449,153 |
| 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 | $97,471 |
| Fees for services: Accounting | $26,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,459 |
| Fees for services: Other | $2,381,805 |
| Advertising and promotion | $0 |
| Office expenses | $48,152 |
| Information technology | $4,550 |
| 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 | $6,715 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,950 |
| Insurance | $31,143 |
| All other expenses | $320,711 |
| Total functional expenses | $66,398,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,312 |
| Savings and temporary cash investments | $801,272 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,030,894 |
| 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 | $23,089 |
| Investments—publicly traded securities | $44,843,225 |
| Investments—other securities | $6,821,339 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $509 |
| Total assets | $57,541,772 |
| Accounts payable and accrued expenses | $51,321 |
| 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 | $12,873,600 |
| Total liabilities | $12,924,921 |
| 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 | $44,616,851 |
| Total liabilities and net assets/fund balances | $57,541,772 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seiu Local 1 & Participating Employers Health Trust Chicago, IL | $156,543,336 | $132,715,763 |
Hyatt Corporation Welfare Benefit Trust Chicago, IL | $6,191,969 | $127,454,104 |
3m Employees Welfare Benefits Association Trust I St Paul, MN | $455,636,953 | $103,855,863 |
Pipe Trades Services Mn Welfare Fund White Bear Lake, MN | $103,560,351 | $111,286,740 |
Gordon Food Service Inc Employees Benefit Trust Grand Rapids, MI | $0 | $113,377,707 |
Wisconsin Laborers Health Fund Deforest, WI | $353,332,580 | $101,359,419 |
Seiu Healthcare Il Home Care & Child Care Fund Chicago, IL | $235,309,739 | $118,872,167 |
Kraft Foods Global Inc Retiree Health And Life Benefit Tr Chicago, IL | $1,155,325,144 | $69,120,518 |
Dte Energy Company Veba Tr Detroit, MI | $1,684,046,247 | $124,695,539 |
Automobile Mechanics-701 Union And Industry Welfare Fund-Trust Burr Ridge, IL | $251,648,514 | $107,015,909 |
National Board Of Ymca Employee Benefit Trust Chicago, IL | $37,583,698 | $83,776,536 |
Mcmaster-Carr Supply Co Employees Welfare Tr Elmhurst, IL | $451,957,330 | $124,315,819 |