Spokane Fire Firghters Benefit Trust
- Assets
- $31.3m
- Revenue
- $11.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 09/2015
- Data as of
- 12/2022
- EIN
- 46-1402215
Organization Overview
Spokane Fire Firghters Benefit Trust is located in Seattle, WA. The organization was established in 2015. 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. Spokane Fire Firghters Benefit Trust 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, Spokane Fire Firghters Benefit Trust generated $11.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $8.9m during the year ending 12/2022. While expenses have increased by 2.1% 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 TRUST FUND WAS ORGANIZED TO ENABLE MEMBERS OF THE LOCAL NO. 29 TO USE THEIR COLLECTIVE PURCHASING POWER AND COLLECTIVE BARGAINING RIGHTS TO SECURE COMPETITIVELY PRICED INSURANCE PRODUCTS AND/OR MEDICAL BENEFITS.THE TRUST PROVIDES AN ENTITY TO WHICH CONTRIBUTIONS FROM CONTRIBUTING EMPLOYERS OR PARTICIPATING EMPLOYEE ORGANIZATIONS, AND CONTRIBUTIONS FROM PARTICIPATING MEMBERS, CAN BE PAID.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND OTHER BENEFITS FOR ELIGIBLE EMPLOYEES AND COVERED DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Forbes Secretary | OfficerTrustee | 1 | $0 |
Randy Marler Trustee | Trustee | 1 | $0 |
Shane Skipworth Trustee | Trustee | 1 | $0 |
Lee Venning Trustee | Trustee | 1 | $0 |
Nathan Cover Chairman | OfficerTrustee | 1 | $0 |
Marissa Delamatter Alternative Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Welfare & Pension Administration Service Third Party Administration Services | 12/30/22 | $170,924 |
Premera Blue Cross Claims Processing | 12/30/22 | $131,836 |
Dimartino Associates Consultant Fees | 12/30/22 | $106,810 |
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 | $11,215,459 |
| Investment income | $508,758 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $111,585 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,835,802 |
| 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 | $8,149,103 |
| 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 | $321,096 |
| Fees for services: Legal | $25,033 |
| Fees for services: Accounting | $14,290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $135,920 |
| Fees for services: Other | $200,380 |
| Advertising and promotion | $0 |
| Office expenses | $16,875 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $20,442 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,701 |
| All other expenses | $0 |
| Total functional expenses | $8,896,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $708,854 |
| Savings and temporary cash investments | $5,072,048 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $173,064 |
| 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 | $1,051 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,686,609 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,663,701 |
| Total assets | $31,305,327 |
| Accounts payable and accrued expenses | $64,917 |
| Grants payable | $0 |
| Deferred revenue | $822,615 |
| 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 | $878,528 |
| Total liabilities | $1,766,060 |
| 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 | $29,539,267 |
| Total liabilities and net assets/fund balances | $31,305,327 |