Teamsters Retiree Trust
- Assets
- $21.4m
- Revenue
- $41.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Stockton, CA
- Founding
- 08/1994
- Data as of
- 07/2023
- EIN
- 68-6097704
Organization Overview
Teamsters Retiree Trust is located in Stockton, CA. The organization was established in 1994. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Retiree Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 07/2023, Teamsters Retiree Trust generated $41.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $38.9m during the year ending 07/2023. While expenses have increased by 8.8% 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
TO PROVIDE HEALTH AND WELFARE BENEFITS FOR RETIRED EMPLOYEES AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND WELFARE BENEFITS FOR RETIRED EMPLOYEES AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Wells Co-Chair | OfficerTrustee | 0.5 | $0 |
Dave Hawley Co-Chair | OfficerTrustee | 0.5 | $0 |
Jeff Berdion Trustee | Trustee | 0.5 | $0 |
Peter Nunez Trustee | Trustee | 0.5 | $0 |
Allen Cheek Trustee | Trustee | 0.5 | $0 |
Mike Carnefix Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Delta Fund Administrators Llc Contract Admin | 7/30/23 | $1,458,691 |
Anthem Blue Cross Claims Admin | 7/30/23 | $175,908 |
Welldyne Rx Claims Admin | 7/30/23 | $113,230 |
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 | $40,708,251 |
| Investment income | $535,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$164,339 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,079,065 |
| 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 | $36,758,428 |
| 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 | $0 |
| Fees for services: Management | $1,556,250 |
| Fees for services: Legal | $26,336 |
| Fees for services: Accounting | $41,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,597 |
| Fees for services: Other | $437,112 |
| Advertising and promotion | $0 |
| Office expenses | $35,467 |
| 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 | $24,314 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,780 |
| All other expenses | $0 |
| Total functional expenses | $38,944,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,095,229 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,355,710 |
| 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 | $170 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $13,943,137 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,394,246 |
| Accounts payable and accrued expenses | $184,394 |
| Grants payable | $0 |
| Deferred revenue | $35,309 |
| 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 | $5,048,824 |
| Total liabilities | $5,268,527 |
| 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 | $16,125,719 |
| Total liabilities and net assets/fund balances | $21,394,246 |