Welfare Fund Of Engineers Local 513 is located in Bridgeton, MO. The organization was established in 1967. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Welfare Fund Of Engineers Local 513 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 04/2022, Welfare Fund Of Engineers Local 513 generated $59.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $51.2m during the year ending 04/2022. While expenses have increased by 4.6% 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
THE PLAN PROVIDES MEDICAL, DENTAL, VISION, ACCIDENT AND DEATH BENEFIT TO PARTICIPANTS OF LOCAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES MEDICAL, DENTAL, VISION, ACCIDENT AND DEATH BENEFITS TO PARTICIPANTS OF LOCAL 513 OPERATING ENGINEERS UNION
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tim Sappington Chairman | OfficerTrustee | 1 | $0 |
Lealon Vaughn Trustee | Trustee | 1 | $0 |
Charlie Goodwin Secretary | Trustee | 1 | $0 |
John Grib Trustee | Trustee | 1 | $0 |
Jeremy Bennett Trustee | Trustee | 1 | $0 |
Bill Suddarth Exiting Trustee | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Benesys Inc Administrative Services | 4/29/16 | $860,606 |
Milliman Usa Actuarial/consulting Services | 4/29/16 | $121,753 |
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 | $56,426,604 |
Investment income | $1,336,113 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,249,676 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $59,012,393 |
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 | $48,048,707 |
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 | $1,071,905 |
Fees for services: Legal | $72,359 |
Fees for services: Accounting | $23,488 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $178,710 |
Fees for services: Other | $1,514,177 |
Advertising and promotion | $0 |
Office expenses | $99,813 |
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 | $1,261 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $85,497 |
All other expenses | $0 |
Total functional expenses | $51,180,379 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $230,438 |
Savings and temporary cash investments | $18,320,163 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $5,081,471 |
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 | $66,378,762 |
Investments—other securities | $24,631,489 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $114,642,323 |
Accounts payable and accrued expenses | $352,852 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $0 |
Total liabilities | $352,852 |
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 | $114,289,471 |
Total liabilities and net assets/fund balances | $114,642,323 |
Organization Name | Assets | Revenue |
---|---|---|
Cooperative Welfare Benefits Fund West Des Moines, IA | $20,233,911 | $75,160,652 |
University Of Chicago Self Insurance Trust Chicago, IL | $366,096,537 | $38,837,635 |
Welfare Fund Of Engineers Local 513 Bridgeton, MO | $114,642,323 | $59,012,393 |
Ssmhcs Liability Trust Mercantile Bank Ttee St Louis, MO | $216,786,212 | $51,161,074 |
Rush University Medical Centers Self-Insurance Trust For Healthcar Chicago, IL | $184,033,612 | $58,498,218 |
Mueller Industries Inc Benefits Tr Collierville, TN | $623,819 | $27,509,005 |
The H T Hackney Co Emloyee Benefit Plans Trust Knoxville, TN | $4,355,910 | $23,918,900 |
Automatic Sprinkler-281 U A Welfare Fund Alsip, IL | $43,182,482 | $25,386,372 |
Dolese Bros Co Veba Trust Oklahoma City, OK | $445,170 | $18,567,104 |
Learfield Communications Group Benefit Trust Inc Jefferson City, MO | $2,893,573 | $17,688,532 |
Illinois Insurance Guaranty Fund Chicago, IL | $161,417,885 | $26,320,531 |
Security Benefit Voluntary Employee Benefits Trust Topeka, KS | $8,971,647 | $18,230,736 |