Oklahoma Operating Engineers Welfare Plan
- Assets
- $25.9m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 10/1969
- Data as of
- 08/2021
- EIN
- 73-0790052
Organization Overview
Oklahoma Operating Engineers Welfare Plan is located in Houston, TX. The organization was established in 1969. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oklahoma Operating Engineers Welfare Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 08/2021, Oklahoma Operating Engineers Welfare Plan generated $6.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $4.0m during the year ending 08/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HEALTH & WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HEALTH & WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Evans Union Trustee | Trustee | 1 | $0 |
Michael Stark Jr Union Trustee | Trustee | 1 | $0 |
Mark Little Employer Trustee | Trustee | 1 | $0 |
Matt Thomas Employer Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Access Fee | 8/30/21 | $180,738 |
Zenith American Solutions Administrative | 8/30/21 | $166,272 |
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 | $5,104,547 |
| Investment income | $618,593 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,068,427 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,830,151 |
| 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 | $3,396,145 |
| 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 | $145,138 |
| Fees for services: Legal | $53,584 |
| Fees for services: Accounting | $37,098 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,441 |
| Fees for services: Other | $247,032 |
| Advertising and promotion | $0 |
| Office expenses | $29,591 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,791 |
| All other expenses | $5,398 |
| Total functional expenses | $3,979,218 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,428,067 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $870,688 |
| 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 | $10,338 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $23,629,221 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,938,314 |
| Accounts payable and accrued expenses | $33,397 |
| 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 | $2,274,070 |
| Total liabilities | $2,307,467 |
| Net assets without donor restrictions | $23,630,847 |
| 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 | $25,938,314 |
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Forfeiture Support Associates Llc Welfare Benefit Tr Dallas, TX | $59,802 | $13,723,885 |
Texas Life Accident Health & Hosp Service Insurance Guaranty Assoc Austin, TX | $70,747,885 | $31,418,906 |
Kaiser-Francis Employees Benefit Tr Tulsa, OK | $1,100,579 | $8,088,672 |
Surplus Lines Stamping Office Of Texas Austin, TX | $37,353,756 | $7,506,175 |
Crest Industries Inc Employees Benefit Trust Alexandria, LA | $2,486,733 | $6,812,983 |
New Mexico Property Insurance Program Albuquerque, NM | $10,306,888 | $4,751,492 |
Lyle Hughart Welfare Fund-Tr Oklahoma City, OK | $8,143,494 | $4,449,291 |
Oklahoma Operating Engineers Welfare Plan Houston, TX | $25,938,314 | $6,830,151 |
Oklahoma Property And Casualty Insurance Guaranty Association Oklahoma City, OK | $74,052,010 | $8,374,389 |
Faust Distributing Company Inc Employee Benefit Plan Trust Houston, TX | $706,108 | $3,075,241 |