Northwest Fire Fighters Benefits Trust
- Assets
- $58.3m
- Revenue
- $102.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Mukilteo, WA
- Founding
- 09/2015
- Data as of
- 12/2023
- EIN
- 41-1416156
Organization Overview
Northwest Fire Fighters Benefits Trust is located in Mukilteo, WA. The organization was established in 2015. 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. Northwest Fire Fighters Benefits Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Northwest Fire Fighters Benefits Trust generated $102.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $100.2m during the year ending 12/2023. While expenses have increased by 19.7% per year over the past 9 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
TO PROVIDE QUALIFIED HEALTH AND WELFARE BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST PROVIDES QUALIFIED HEALTH AND WELFARE BENEFITS TO PARTICIPANTS AND THEIR DEPENDENTS PURSUANT TO COLLECTIVE BARGAINING AND MEMORANDA OF UNDERSTANDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Markley Chairman | OfficerTrustee | 3 | $0 |
Dennis Lawson Secretary | OfficerTrustee | 1 | $0 |
Jeff Wainwright Trustee | Trustee | 1 | $0 |
Craig Soucy Trustee | Trustee | 1 | $0 |
Eric Tuott Trustee | Trustee | 1 | $0 |
Scott Kennedy Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brown And Brown Of Washington Inc Dba Consultant | 12/30/23 | $2,372,318 |
Magnacare Administrative Services Llc Claims Administration | 12/30/23 | $1,399,161 |
Regence Blueshield Claims Administration | 12/30/23 | $1,247,637 |
Vimly Benefit Solutions Inc Contract Administrator | 12/30/23 | $673,332 |
Delta Dental Of Washington Claims Administration | 12/30/23 | $311,700 |
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 | $100,133,480 |
| Investment income | $1,752,977 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $160,528 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $102,046,985 |
| 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 | $92,782,652 |
| 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 | $673,332 |
| Fees for services: Legal | $59,982 |
| Fees for services: Accounting | $31,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,125 |
| Fees for services: Other | $6,324,634 |
| Advertising and promotion | $0 |
| Office expenses | $38,654 |
| Information technology | $12,829 |
| 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 | $56,091 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $33,162 |
| All other expenses | $173,663 |
| Total functional expenses | $100,229,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,020,547 |
| Savings and temporary cash investments | $1,280,796 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,929,534 |
| 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 | $11,213 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $53,087,924 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $58,330,014 |
| Accounts payable and accrued expenses | $149,987 |
| Grants payable | $0 |
| Deferred revenue | $1,181,218 |
| 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 | $14,459,652 |
| Total liabilities | $15,790,857 |
| 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 | $42,539,157 |
| Total liabilities and net assets/fund balances | $58,330,014 |