Five Rivers Carpenters District Council Health & Welfare Fund
- Assets
- $23.9m
- Revenue
- $8.4m
- Investments
- $22.3m
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 07/1971
- Data as of
- 12/2022
- EIN
- 42-6149936
Organization Overview
Five Rivers Carpenters District Council Health & Welfare Fund is located in Cedar Rapids, IA. The organization was established in 1971. 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. Five Rivers Carpenters District Council Health & 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 12/2022, Five Rivers Carpenters District Council Health & Welfare Fund generated $8.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $5.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 8 years. 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 & WELFARE BENEFITS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HEALTH & WELFARE BENEFITS TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robb Nelson Deputy General Counsel | OfficerTrustee | 1 | $0 |
Bob Doubek Trustee | Trustee | 1 | $0 |
Jim Unzeitig Trustee | Trustee | 1 | $0 |
Mike Novy Trustee | Trustee | 1 | $0 |
Nate Pilcher Trustee | Trustee | 1 | $0 |
Royce Peterson Board Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eastern Iowa Fringe Benefit Funds Fund Administration | 12/30/22 | $134,758 |
Foster & Foster Actuary Services | 12/30/22 | $107,783 |
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 | $7,544,187 |
| Investment income | $849,163 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,052 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,427,535 |
| 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 | $5,132,077 |
| 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 | $475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,861 |
| Fees for services: Accounting | $42,229 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,495 |
| Fees for services: Other | $107,783 |
| Advertising and promotion | $0 |
| Office expenses | $847 |
| Information technology | $8,607 |
| 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 | $12,223 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,310 |
| Total functional expenses | $5,831,574 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $513,785 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,053,979 |
| 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 | $11,167 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $22,312,854 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,891,785 |
| Accounts payable and accrued expenses | $125,278 |
| Grants payable | $0 |
| Deferred revenue | $5,344 |
| 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 | $11,926,450 |
| Total liabilities | $12,057,072 |
| 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 | $11,834,713 |
| Total liabilities and net assets/fund balances | $23,891,785 |