Porac Retree Medical Tr
- Assets
- $81.2m
- Revenue
- $19.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Mukilteo, WA
- Founding
- 03/2010
- Data as of
- 06/2021
- EIN
- 80-6049077
Organization Overview
Porac Retree Medical Tr is located in Mukilteo, WA. The organization was established in 2010. 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. Porac Retree Medical Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2021, Porac Retree Medical Tr generated $19.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.3% each year . All expenses for the organization totaled $1.9m during the year ending 06/2021. While expenses have increased by 8.6% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE REIMBURSEMENT FOR INSURANCE PREMIUMS AND MEDICAL EXPENSES IN RETIREMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REIMBURSEMENT OF RETIREES' INSURANCE PREMIUMS OR MEDICAL EXPENSES FOR APPROXIMATELY 5,657 PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry A Moore Chair | OfficerTrustee | 1 | $0 |
Brian Dutton Trustee | Trustee | 1 | $0 |
Steven Saucedo Trustee | Trustee | 1 | $0 |
Dennis Hashin Trustee | Trustee | 1 | $0 |
Tim Davis Trustee | Trustee | 1 | $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 | $11,782,102 |
| Investment income | $1,360,452 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,358,469 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,501,023 |
| 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 | $1,374,495 |
| 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 | $305,186 |
| Fees for services: Legal | $89,358 |
| Fees for services: Accounting | $24,070 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,726 |
| Fees for services: Other | $16,690 |
| Advertising and promotion | $0 |
| Office expenses | $135 |
| 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 | $12,721 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,962 |
| All other expenses | $1,228 |
| Total functional expenses | $1,916,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,774,200 |
| Savings and temporary cash investments | $7,590,735 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $71,806,281 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $81,171,216 |
| Accounts payable and accrued expenses | $0 |
| 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 | $120,680 |
| Total liabilities | $120,680 |
| 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 | $81,050,536 |
| Total liabilities and net assets/fund balances | $81,171,216 |
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|---|---|---|
Washington Automotive Industry Association Health Trust Mukilteo, WA | $1,691,162 | $19,762,426 |
Plumbing & Pipefitting Industry Health & Welfare Fund Local Union Portland, OR | $32,096,746 | $20,904,376 |
Western States Local Union Trust Fund Of The Office Employees Inter Portland, OR | $17,918,695 | $19,537,932 |
Northwest Marine Trade Association Health Trust Bellevue, WA | $1,604,208 | $18,588,448 |
Alaska Laborers Construction Industry Health & Security Fund Seattle, WA | $30,372,862 | $20,313,426 |
Boise Fire & Police Tr Mukilteo, WA | $26,253,264 | $19,793,161 |
Cement Masons And Plasterers Health And Welfare Trust Seattle, WA | $34,182,132 | $22,523,981 |
State Of Indiana Health Reimbursement Arrangement Hra Spokane, WA | $344,630,068 | $23,046,860 |
Washington Alliance For Healthcare Insurance Trust Mukilteo, WA | $2,793,878 | $15,858,943 |
Pipe Trades Trust Spokane, WA | $23,491,063 | $18,062,513 |
Associated Employers Tr - Commercial Construction Spokane, WA | $980,681 | $16,528,039 |
Idaho Agc Self-Funded Benefit Tr Boise, ID | $6,885,647 | $14,916,501 |