Itpeu Health & Welfare Fund
- Assets
- $77.9m
- Revenue
- $60.2m
- Investments
- $6.0m
- Employees
- 480
- Location
- Savannah, GA
- Founding
- 08/1976
- Data as of
- 06/2023
- EIN
- 58-1236802
Organization Overview
Itpeu Health & Welfare Fund is located in Savannah, GA. The organization was established in 1976. 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, Itpeu Health & Welfare Fund employed 480 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Itpeu Health & Welfare Fund 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, Itpeu Health & Welfare Fund generated $60.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $60.0m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 8 years. 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
MULTI-EMPLOYER EMPLOYEE BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND WELFARE BENEFITS FOR APPROXIMATELY 7,400 PLAN PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Arrington Co-Chairman | OfficerTrustee | 0.5 | $0 |
John Brenton IV V. Co-Chairm | OfficerTrustee | 0.5 | $0 |
Lena Bailey Trustee | Trustee | 0.5 | $0 |
Trina Williams Trustee | Trustee | 0.5 | $0 |
Kathy Heery Administrato | Officer | 40 | $104,469 |
Wilma Zimmerman Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Basys Software Maint | 6/29/23 | $311,036 |
Anthem Blue Cross And Blue Shield Claims Admin | 6/29/23 | $3,396,966 |
Howard Moore & Mcduffie Pc Auditor | 6/29/23 | $148,125 |
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 | $59,196,187 |
| Investment income | $1,540,741 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11,613 |
| Net Gain/Loss on Asset Sales | -$580,825 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,175,216 |
| 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 | $54,558,074 |
| Compensation of current officers, directors, key employees. | $117,991 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $585,028 |
| Pension plan accruals and contributions | $45,115 |
| Other employee benefits | $0 |
| Payroll taxes | $54,134 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,003 |
| Fees for services: Accounting | $150,417 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $131,680 |
| Fees for services: Other | $3,481,192 |
| Advertising and promotion | $0 |
| Office expenses | $130,998 |
| Information technology | $415,878 |
| Royalties | $0 |
| Occupancy | $113,070 |
| 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 | $105,900 |
| Insurance | $0 |
| All other expenses | $29,283 |
| Total functional expenses | $59,967,763 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,424,925 |
| Savings and temporary cash investments | $2,347,503 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,311,069 |
| 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 | $87,759 |
| Net Land, buildings, and equipment | $1,415,881 |
| Investments—publicly traded securities | $57,183,433 |
| Investments—other securities | $5,968,428 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $138,851 |
| Total assets | $77,877,849 |
| Accounts payable and accrued expenses | $1,306,494 |
| 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 | $13,697,928 |
| Total liabilities | $15,004,422 |
| Net assets without donor restrictions | $62,873,427 |
| 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 | $77,877,849 |