Heat And Frost Insulators Local 34 Health & Welfare Plan
- Assets
- $9.3m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 9
- Location
- Bloomington, MN
- Founding
- 05/1986
- Data as of
- 03/2022
- 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 03/2022, Heat And Frost Insulators Local 34 Health & Welfare Plan employed 9 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 03/2022, Heat And Frost Insulators Local 34 Health & Welfare Plan generated $10.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $10.9m during the year ending 03/2022. While expenses have increased by 3.5% 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
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 |
|---|---|---|---|
Donald Gaughan Trustee - Past | Trustee | 1 | $0 |
Samuel Schultz Trustee | Trustee | 1 | $0 |
Eric Houske Alternate Trustee | Trustee | 1 | $0 |
Lee Houske Trustee | Trustee | 1 | $0 |
Martha Henrickson Trustee | Trustee | 1 | $0 |
Bill Grimm Alternate Trustee - Past | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wilson-mcshane Corporation Third Party Administrator | 3/30/22 | $271,200 |
Bluecross Blueshield Of Mn Ppo Provider | 3/30/22 | $195,716 |
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 | $10,147,369 |
| Investment income | $343,865 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $174,273 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,665,507 |
| 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 | $10,405,501 |
| 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 | $104,589 |
| Fees for services: Accounting | $16,558 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $884 |
| Fees for services: Other | $61,500 |
| Advertising and promotion | $0 |
| Office expenses | $12,157 |
| 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 | $655 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,330 |
| All other expenses | $2,911 |
| Total functional expenses | $10,877,285 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,319,507 |
| Savings and temporary cash investments | $17,795 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $880,046 |
| 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 | $26,100 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,013,864 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,257,312 |
| Accounts payable and accrued expenses | $53,791 |
| Grants payable | $0 |
| Deferred revenue | $59,577 |
| 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 | $154,275 |
| Total liabilities | $267,643 |
| 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 | $8,989,669 |
| Total liabilities and net assets/fund balances | $9,257,312 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Healthpartners Institute Minneapolis, MN | $92,324,263 | $47,741,048 |
Cincinnati Bell Health And Welfare Trust Milwaukee, WI | $10,960 | $35,872,247 |
Childrens Hospital Of Wisconsin Foundation Inc Milwaukee, WI | $1,206,475,471 | $94,444,184 |
Milwaukee Regional Medical Center Thermal Service Inc Milwaukee, WI | $234,655,372 | $32,150,552 |
Versiti Inc Milwaukee, WI | $31,675,126 | $28,432,711 |
Pioneer Healthcare Tr Fargo, ND | $21,487,108 | $28,269,563 |
Oklahoma Gas And Electric Company Employees Medical Benefit Trust Des Moines, IA | $55,573 | $22,996,745 |
Roofers Local 96 Health & Welfare Fund Bloomington, MN | $17,573,620 | $18,996,626 |
Vollrath Company Employee Health & Welfare Benefit Trust Sheboygan, WI | $1,493,056 | $18,329,364 |
Northern Minnesota-Wisconsin Area Retail Food Health & Welfare Fund Duluth, MN | $9,554,218 | $16,178,140 |
Manatts Inc Group Health Plan & Tr Brooklyn, IA | $3,919,154 | $13,220,530 |
Twin Cities Bakery Workers Health And Welfare Fund Saint Paul, MN | $3,154,286 | $12,238,958 |