Teamsters Local 639 Employers Health Trust is located in Washington, DC. The organization was established in 1965. 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. Teamsters Local 639 Employers Health Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Teamsters Local 639 Employers Health Trust generated $64.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $41.0m during the year ending 12/2021. While expenses have increased by 1.2% 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 & WELFARE INSURANCE BENEFITS TO EMPLOYEES (AND THEIRELIGIBLE DEPENDENTS) OF CONTRIBUTING EMPLOYERS WHO ARE REPRESENTED BYTHE PARTICIPATING LOCAL UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENT OF MEDICAL AND OTHER BENEFITS TO OR FOR ITS PARTICIPANTS AND THEIR DEPENDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Eric D Weiss Trustee-Employer | Trustee | 2 | $12,000 |
Michael Bull Trustee-Employer | Trustee | 2 | $12,000 |
Thomas Ratliff Trustee-Union | Trustee | 2 | $12,000 |
Philip Giles Trustee-Secretary | Trustee | 2 | $12,000 |
Raymond Howard Trustee-Chairman | Trustee | 2 | $12,000 |
Frank W Stegman Trustee-Employer | Trustee | 2 | $12,000 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Cvs Caremark Inc Prescription Benefit Management | 12/30/21 | $10,323,174 |
Dental Health Centers & Associates Dental Clinic | 12/30/21 | $2,315,970 |
Cigna Healthcare Claims Processing | 12/30/21 | $1,371,091 |
Benesys Third Party Administrator | 12/30/21 | $955,334 |
Morgan Lewis & Bockius Law Firm | 12/30/21 | $402,521 |
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 | $55,551,712 |
Investment income | $5,956,660 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $3,101,217 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $64,659,660 |
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 | $36,402,662 |
Compensation of current officers, directors, key employees. | $72,000 |
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 | $935,714 |
Fees for services: Legal | $756,932 |
Fees for services: Accounting | $65,889 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $865,352 |
Fees for services: Other | $164,494 |
Advertising and promotion | $0 |
Office expenses | $83,319 |
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 | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $68,657 |
All other expenses | $0 |
Total functional expenses | $41,007,676 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $528,274 |
Savings and temporary cash investments | $15,875,206 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $6,021,711 |
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 | $114,049,430 |
Investments—other securities | $154,960,277 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,517,521 |
Total assets | $293,952,419 |
Accounts payable and accrued expenses | $326,103 |
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 | $662,484 |
Total liabilities | $988,587 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $292,963,832 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $293,952,419 |