West Virginia Laborers Trust Fund
- Assets
- $150.7m
- Revenue
- $31.8m
- Investments
- $88.3m
- Employees
- 11
- Location
- Charleston, WV
- Founding
- 01/1960
- Data as of
- 03/2022
- EIN
- 55-0451207
Organization Overview
West Virginia Laborers Trust Fund is located in Charleston, WV. The organization was established in 1960. 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 03/2022, West Virginia Laborers Trust Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Virginia Laborers Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 03/2022, West Virginia Laborers Trust Fund generated $31.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $26.2m during the year ending 03/2022. While expenses have increased by 2.6% 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
HEALTH & WELFARE BENEFIT ADMINISTRATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO PLAN PARTICIPANTS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven L Smith Administrative Manager (through 2/1/22) | Officer | 40 | $142,800 |
Nathanael Aylestock Administrative Manager (beginning 2/1/22) | Officer | 40 | $97,885 |
Jessie King Trustee | Trustee | 5 | $0 |
Jason Hershman Trustee | Trustee | 5 | $0 |
Byron Mcgrady Trustee | Trustee | 5 | $0 |
Justin Gray Trustee | Trustee | 5 | $0 |
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 | $28,387,284 |
| Investment income | $2,603,954 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $624,090 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,843,888 |
| 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 | $23,952,607 |
| Compensation of current officers, directors, key employees. | $240,685 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $476,560 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $499,247 |
| Payroll taxes | $70,169 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $79,200 |
| Fees for services: Accounting | $74,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $218,301 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $218,400 |
| Information technology | $151,223 |
| Royalties | $0 |
| Occupancy | $28,984 |
| 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 | $327,215 |
| All other expenses | -$1,311,660 |
| Total functional expenses | $26,207,792 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,227,278 |
| Savings and temporary cash investments | $1,368,250 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,722,554 |
| 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 | $56,015,406 |
| Investments—other securities | $88,325,655 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $150,659,143 |
| Accounts payable and accrued expenses | $532,347 |
| 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 | $532,347 |
| 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 | $150,126,796 |
| Total liabilities and net assets/fund balances | $150,659,143 |