International Union Of Operating Engineers-132 Health & Welfare Fun
- Assets
- $130.6m
- Revenue
- $29.9m
- Investments
- $0.0
- Employees
- 44
- Location
- Huntington, WV
- Founding
- 05/1962
- Data as of
- 06/2023
- EIN
- 55-0455491
Organization Overview
International Union Of Operating Engineers-132 Health & Welfare Fun is located in Huntington, WV. The organization was established in 1962. 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 06/2023, International Union Of Operating Engineers-132 Health & Welfare Fun employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Union Of Operating Engineers-132 Health & Welfare Fun is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, International Union Of Operating Engineers-132 Health & Welfare Fun generated $29.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $38.9m during the year ending 06/2023. While expenses have increased by 5.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HEALTH INSURANCE BENEFITS FOR UNION MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
AREA-WIDE, UNION-NEGOTIATED, UNION-MANAGEMENT TRUSTEED HEALTH AND WELFARE BENEFIT FUND FOR MEMBERS AND RETIREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Parker Trustee | Trustee | 2 | $0 |
D W Daniel Jr Trustee | Trustee | 2 | $0 |
John Farley Trustee | Trustee | 2 | $0 |
Neil Huffman Trustee | Trustee | 2 | $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 | $27,823,169 |
| Investment income | $2,286,836 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$341,723 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,886,966 |
| 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 | $37,730,749 |
| 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 | $177,276 |
| Pension plan accruals and contributions | $72,611 |
| Other employee benefits | $39,752 |
| Payroll taxes | $54,749 |
| Fees for services: Management | $28,200 |
| Fees for services: Legal | $24,755 |
| Fees for services: Accounting | $40,173 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $426,365 |
| Fees for services: Other | $9,500 |
| Advertising and promotion | $0 |
| Office expenses | $83,176 |
| Information technology | $53,585 |
| Royalties | $0 |
| Occupancy | $31,338 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,592 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,982 |
| Insurance | $34,919 |
| All other expenses | $50,388 |
| Total functional expenses | $38,876,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $8,002,989 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,905,048 |
| 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 | $4,857 |
| Investments—publicly traded securities | $116,654,333 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,042 |
| Total assets | $130,592,369 |
| Accounts payable and accrued expenses | $1,405,570 |
| 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 | $1,405,570 |
| Net assets without donor restrictions | $129,186,799 |
| 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 | $130,592,369 |