Heat And Frost Insulators Local 34 Health & Welfare Plan
- Assets
- $8.3m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 10
- Location
- Bloomington, MN
- Founding
- 05/1986
- Data as of
- 03/2023
- EIN
- 41-6263066
Organization Overview
Heat And Frost Insulators Local 34 Health & Welfare Plan is located in Bloomington, MN. The organization was established in 1986. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 03/2023, Heat And Frost Insulators Local 34 Health & Welfare Plan employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heat And Frost Insulators Local 34 Health & Welfare Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 03/2023, Heat And Frost Insulators Local 34 Health & Welfare Plan generated $10.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $10.4m during the year ending 03/2023. While expenses have increased by 2.4% 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
PROVIDE HEALTH AND WELFARE BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH CARE, PRESCRIPTION DRUG, DENTAL, DISABILITY AND VISION AND LIFE INSURANCE COVERAGE TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS OR BENEFICIARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel Schultz Trustee - Past | Trustee | 1 | $0 |
Albert Byers Trustee | Trustee | 1 | $0 |
Eric Houske Alternate Trustee | Trustee | 1 | $0 |
Lee Houske Trustee | Trustee | 1 | $0 |
Martha Henrickson Trustee | Trustee | 1 | $0 |
Tim Hynes Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wilson-mcshane Corporation Third Party Administrator | 3/30/23 | $271,200 |
Health Partners Ppo Provider | 3/30/23 | $271,250 |
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 | $9,847,956 |
| Investment income | $246,761 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$139,383 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,955,334 |
| 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 | $9,975,239 |
| 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 | $271,200 |
| Fees for services: Legal | $59,082 |
| Fees for services: Accounting | $17,558 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,824 |
| Fees for services: Other | $33,000 |
| Advertising and promotion | $0 |
| Office expenses | $9,246 |
| 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 | $680 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,357 |
| All other expenses | $2,894 |
| Total functional expenses | $10,377,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,104,580 |
| Savings and temporary cash investments | $14,838 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $898,079 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,318,712 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,336,209 |
| Accounts payable and accrued expenses | $8,990 |
| Grants payable | $0 |
| Deferred revenue | $70,300 |
| 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 | $144,482 |
| Total liabilities | $223,772 |
| 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 | $8,112,437 |
| Total liabilities and net assets/fund balances | $8,336,209 |