Minnesota Laborers Health And Welfare Fund is located in Mendota Heights, MN. The organization was established in 1969. 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 12/2021, Minnesota Laborers Health And Welfare Fund employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Laborers 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 12/2021, Minnesota Laborers Health And Welfare Fund generated $178.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $155.1m during the year ending 12/2021. While expenses have increased by 8.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HEALTH AND WELFARE BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH, DENTAL, AND DEATH BENEFITS TO ELIGIBLE DEPENDENTS, BENEFICIARIES AND PARTICIPANTS OF THE PLAN.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Joe Fowler Trustee-Union | Trustee | 1 | $0 |
Sheldon Steele Trustee-Union | Trustee | 1 | $0 |
Derek Pederson Trustee-Union | Trustee | 1 | $0 |
Joel Smith Trustee-Union (chairman) | Trustee | 1 | $0 |
Shawn Braford Trustee-Union | Trustee | 1 | $0 |
John Nesse Trustee-Employer | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Zenith American Solutions Inc Contract Administrator | 12/30/21 | $3,632,735 |
Bluecross Blueshield Mn Preferred Provider Organization Access | 12/30/21 | $3,178,926 |
Benecard Pbf Claims Processing Fees | 12/30/21 | $557,928 |
Healthpartners Clinic Operations | 12/30/21 | $1,735,093 |
Delta Dental Of Minnesota Preferred Provider Organization Access | 12/30/21 | $351,220 |
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 | $158,050,817 |
Investment income | $12,490,127 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $8,008,235 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $178,568,553 |
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 | $149,098,261 |
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 | $2,931,577 |
Fees for services: Legal | $283,405 |
Fees for services: Accounting | $146,376 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $909,363 |
Fees for services: Other | $360,068 |
Advertising and promotion | $0 |
Office expenses | $896,749 |
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 | $13,326 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $299,143 |
Insurance | $86,561 |
All other expenses | $77,473 |
Total functional expenses | $155,102,302 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $113,097 |
Savings and temporary cash investments | $55,763,896 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $14,077,774 |
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 | $132,253 |
Net Land, buildings, and equipment | $2,029,214 |
Investments—publicly traded securities | $205,573,222 |
Investments—other securities | $525,373,580 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $803,063,036 |
Accounts payable and accrued expenses | $954,661 |
Grants payable | $0 |
Deferred revenue | $208,504 |
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 | $642,009 |
Total liabilities | $1,805,174 |
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 | $801,257,862 |
Total liabilities and net assets/fund balances | $803,063,036 |
Organization Name | Assets | Revenue |
---|---|---|
Wea Insurance Corporation Madison, WI | $792,635,009 | $692,190,590 |
Us Bancorp Comp Welfare Benefit Plan Milwaukee, WI | $0 | $532,086,986 |
The Travelers Companies Inc St Paul, MN | $45,092,183 | $378,506,075 |
International Operating Engineers Union 49 Health And Welfare Fund Bloomington, MN | $286,515,108 | $232,318,179 |
Carpenters & Joiners Welfare Fund Bloomington, MN | $314,491,427 | $228,602,525 |
Hy-Vee Employee Benefit Plan Tr West Des Moines, IA | $28,091,611 | $202,937,537 |
Xcel Energy Inc Voluntary Employees Benefciary Trust For Active Employ Minneapolis, MN | $29,715,150 | $175,187,105 |
Iowa Bankers Benefit Plan Johnston, IA | $64,300,979 | $182,717,522 |
Wells Fargo & Company Short Term Disability Plan & Trust Minneapolis, MN | $25,708,519 | $165,255,713 |
Minnesota Laborers Health And Welfare Fund Mendota Heights, MN | $803,063,036 | $178,568,553 |
Operating Engineers Local 139 Pewaukee, WI | $445,469,053 | $196,264,611 |
Cnh Welfare Benefit Trust Racine, WI | $154,103,739 | $173,990,533 |