At&t Union Welfare Benefit Trust
- Assets
- $319.3m
- Revenue
- $31.9m
- Investments
- $22.1m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 09/1994
- Data as of
- 12/2021
- EIN
- 74-2697492
Organization Overview
At&t Union Welfare Benefit Trust is located in Dallas, TX. The organization was established in 1994. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. At&t Union Welfare Benefit Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, At&t Union Welfare Benefit Trust generated $31.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (33.1%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2021. 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
TO FUND BENEFIT EXPENSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENT OF HEALTH AND INSURANCE BENEFIT EXPENSES FOR AT&T'S RETIREES AND THEIR DEPENDENTS, AS PERMITTED UNDER IRC 501(C)(9).
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Summit Partners Invest Mgmt Services | 12/30/21 | $588,548 |
Jp Morgan Asset Mgmt Invest Mgmt Services | 12/30/21 | $532,769 |
Western Asset Management Invest Mgmt Services | 12/30/21 | $515,045 |
Standish Mellon Asset Management Invest Mgmt Services | 12/30/21 | $305,324 |
Att Benefits Admin | 12/30/21 | $265,267 |
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 | $7,839,958 |
| Investment income | $13,135,549 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,070,486 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,868,332 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $213,836 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $89,691 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,016,350 |
| Fees for services: Other | $25,920 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $10,806 |
| Total functional expenses | $2,686,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1,263,545 |
| Savings and temporary cash investments | $2,436,089 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,413,903 |
| 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 | $294,621,867 |
| Investments—other securities | $22,065,766 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $319,274,080 |
| Accounts payable and accrued expenses | $67 |
| 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 | $67 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $319,274,013 |
| 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 | $319,274,080 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usaa Employee Benefit Association Medical Acctive Lives Trust San Antonio, TX | $1,542,084 | $18,530,439 |
Plumbers Welfare Fund-68 Houston, TX | $14,578,428 | $15,954,972 |
Bancfirst Corporation Employees Benefit Trust Oklahoma City, OK | $5,938,053 | $16,220,093 |
Plumbers And Pipefitters Local Union No 286 Health And Welfare Fu Albuquerque, NM | $14,092,703 | $21,020,682 |
Cn Enterprises Health Plan Tr Ada, OK | $2,643,128 | $14,907,101 |
Osma Health-Health Plans Oklahoma City, OK | $11,959,151 | $14,551,429 |
New Mexico Pipe Trades Health & Welfare Trust Fund Albuquerque, NM | $23,417,220 | $13,476,127 |
Plumbers And Steamfitters Local 100 Health And Welfare Fund Richardson, TX | $0 | $13,849,228 |
American Airlines Inc Long Term Disability Plan DFW Airport, TX | $247,759,268 | $32,968,121 |
Texas Gas Employee Welfare Benefits Trust Houston, TX | $92,852,122 | $13,807,932 |
Plumbers & Pipefitters 344 Health & Welfare Trust Fund Oklahoma City, OK | $14,426,568 | $12,697,086 |
Ti Employees Health Benefit Trust No 6 Dallas, TX | $0 | $9,656 |