West Virginia Laborers Trust Fund
- Assets
- $138.7m
- Revenue
- $28.9m
- Investments
- $81.4m
- Employees
- 11
- Location
- Charleston, WV
- Founding
- 01/1960
- Data as of
- 03/2023
- 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 03/2023, 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 03/2023, West Virginia Laborers Trust Fund generated $28.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $31.2m during the year ending 03/2023. 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
2023
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessie King Trustee | Trustee | 5 | $0 |
James Carney Trustee | Trustee | 5 | $0 |
Jason Hershman Trustee | Trustee | 5 | $0 |
Timothy Gooden Trustee | Trustee | 5 | $0 |
Byron Mcgrady Trustee | Trustee | 5 | $0 |
Dan Loy 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 | $26,776,331 |
| Investment income | $2,990,933 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$896,552 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,870,712 |
| 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 | $29,015,569 |
| Compensation of current officers, directors, key employees. | $119,808 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $441,108 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $409,518 |
| Payroll taxes | $110,594 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,865 |
| Fees for services: Accounting | $68,773 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $229,780 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $144,506 |
| Information technology | $146,457 |
| Royalties | $0 |
| Occupancy | $31,619 |
| 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 | $411,912 |
| All other expenses | -$975,665 |
| Total functional expenses | $31,237,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,662 |
| Savings and temporary cash investments | $2,252,518 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,488,416 |
| 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 | $52,568,453 |
| Investments—other securities | $81,399,087 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $138,716,136 |
| Accounts payable and accrued expenses | $536,311 |
| 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 | $536,311 |
| 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 | $138,179,825 |
| Total liabilities and net assets/fund balances | $138,716,136 |