Dakotas & Western Minnesota Industry Health & Welfare Fund
- Assets
- $77.9m
- Revenue
- $50.9m
- Investments
- $0.0
- Employees
- 165
- Location
- Fargo, ND
- Founding
- 02/1975
- Data as of
- 12/2021
- EIN
- 45-6038633
Organization Overview
Dakotas & Western Minnesota Industry Health & Welfare Fund is located in Fargo, ND. The organization was established in 1975. 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, Dakotas & Western Minnesota Industry Health & Welfare Fund employed 165 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dakotas & Western Minnesota Industry 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 12/2021, Dakotas & Western Minnesota Industry Health & Welfare Fund generated $50.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $52.5m during the year ending 12/2021. While expenses have increased by 5.7% 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
TO PROVIDE HEALTH AND WELFARE BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES HEALTH CARE AND PRESCRIPTION DRUG, DEATH BENEFITS, ACCIDENTAL DEATH AND DISMEMBERMENT, AND DISABILITY BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS OR BENEFICIARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kory Rawstern Trustee | Trustee | 1 | $0 |
Randy Bartsch Chairman | Trustee | 1 | $0 |
Randy Stainbrook Trustee | Trustee | 1 | $0 |
Don Bruemmer Trustee | Trustee | 1 | $0 |
Chris Callihan Trustee | Trustee | 1 | $0 |
Chris Baker Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Optumrx Claims Processing | 12/30/21 | $107,895 |
Noridian Mutual Insurance Company Plan Administration And Claims Processin | 12/30/21 | $2,357,686 |
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 | $48,082,796 |
| Investment income | $1,848,676 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $955,239 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,890,330 |
| 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 | $51,414,724 |
| 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 | $584,518 |
| Fees for services: Legal | $112,236 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,788 |
| Fees for services: Other | $63,500 |
| Advertising and promotion | $0 |
| Office expenses | $98,141 |
| 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 | $37,694 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $69,673 |
| All other expenses | $27,688 |
| Total functional expenses | $52,522,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,305,136 |
| Savings and temporary cash investments | $2,380,624 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,197,281 |
| 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 | $66,988,376 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $77,871,417 |
| Accounts payable and accrued expenses | $86,969 |
| Grants payable | $0 |
| Deferred revenue | $558,150 |
| 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 | $645,119 |
| 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 | $77,226,298 |
| Total liabilities and net assets/fund balances | $77,871,417 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
3m Employees Welfare Benefits Association Trust I St Paul, MN | $455,636,953 | $103,855,863 |
Pipe Trades Services Mn Welfare Fund White Bear Lake, MN | $103,560,351 | $111,286,740 |
Mdu Resources Group Inc Bismarck, ND | $6,564,794 | $94,032,300 |
Xcel Energy Inc Veba Trust For Retired Employees Minneapolis, MN | $445,588,798 | $63,575,592 |
Miscellaneous Drivers And Helpers Bloomington, MN | $89,661,981 | $78,666,638 |
Andersen Corporation VEBA H&W Ben Trust Bayport, MN | $0 | $67,120,604 |
Ibew 292 Health Care Plan Maple Grove, MN | $177,979,838 | $76,280,696 |
Sheet Metal No 10 Benefit Fund Maplewood, MN | $81,918,266 | $65,399,612 |
Dakotas & Western Minnesota Industry Health & Welfare Fund Fargo, ND | $77,871,417 | $50,890,330 |
Wells Fargo & Co Employee Benifit Trust For Retiree Minneapolis, MN | $295,455,025 | $46,494,282 |
St Paul Electrical Workers Welfare Fund St Paul, MN | $146,847,412 | $56,693,219 |
Minnesota Laborers Vacation Fund Mendota Heights, MN | $30,690,808 | $47,584,274 |