I U O E Local 147 Health Fund
- Assets
- $6.1m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 13
- Location
- Norfolk, VA
- Founding
- 11/1963
- Data as of
- 07/2021
- EIN
- 54-6079967
Organization Overview
I U O E Local 147 Health Fund is located in Norfolk, VA. The organization was established in 1963. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 07/2021, I U O E Local 147 Health Fund employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I U O E Local 147 Health Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 07/2021, I U O E Local 147 Health Fund generated $6.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $5.8m during the year ending 07/2021. While expenses have increased by 1.8% per year over the past 6 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
THE PROVISION OF BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROVISION OF HEALTH, DENTAL, VISION, TEMPORARY DISBILITY AND LIFE INSURANCE BENEFITS TO PLAN PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Conner Trustee | Trustee | 2 | $0 |
Jack B Rice Secretary | Trustee | 2 | $0 |
Brady Horne Chairman | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southern Benefit Administrators Inc Administration | 7/30/21 | $141,155 |
Anthem Ppo | 7/30/21 | $254,173 |
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 | $5,997,749 |
| Investment income | $53,638 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$51,034 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,318,414 |
| 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 | $4,791,229 |
| 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 | $3,169 |
| Fees for services: Management | $120,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,428 |
| Fees for services: Other | $275,173 |
| Advertising and promotion | $0 |
| Office expenses | $5,415 |
| 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 | $5,450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $525,324 |
| All other expenses | $2,146 |
| Total functional expenses | $5,764,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $536,909 |
| Savings and temporary cash investments | $521,376 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $612,692 |
| 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 | $2,873 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,470,462 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,144,312 |
| Accounts payable and accrued expenses | $3,894,980 |
| 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 | $3,894,980 |
| Net assets without donor restrictions | $2,249,332 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $6,144,312 |
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