Pipe Industry Insurance Fund
- Assets
- $43.4m
- Revenue
- $42.0m
- Investments
- $0.0
- Employees
- 1,056
- Location
- Denver, CO
- Founding
- 03/1958
- Data as of
- 12/2022
- EIN
- 84-0456274
Organization Overview
Pipe Industry Insurance Fund is located in Denver, CO. The organization was established in 1958. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Pipe Industry Insurance Fund employed 1,056 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pipe Industry Insurance Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Pipe Industry Insurance Fund generated $42.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $38.7m during the year ending 12/2022. While expenses have increased by 5.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INSURANCE COVERAGE TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS FROM CONTRIBUTIONS PAID IN ACCORDANCE WITH PLAN PROVISIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE INSURANCE COVERAGE TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS FROM CONTRIBUTIONS PAID IN ACCORDANCE WITH PLAN PROVISIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Flanagan Executive Director | Officer | 37 | $215,096 |
Dave Davia Trustee | Trustee | 1 | $0 |
Dale Thrower Trustee | Trustee | 1 | $0 |
James C Keif Trustee | Trustee | 1 | $0 |
Gary Arnold Trustee | Trustee | 1 | $0 |
Joe Kocol Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cigna Health Life Insurance Compa Administrative | 12/30/21 | $2,050,212 |
Spencer Ffane Llp Legal | 12/30/21 | $101,479 |
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 | $41,475,150 |
| Investment income | $1,147,852 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$601,023 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,021,979 |
| 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 | $37,518,629 |
| Compensation of current officers, directors, key employees. | $215,096 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $212,980 |
| Pension plan accruals and contributions | $37,577 |
| Other employee benefits | $46,922 |
| Payroll taxes | $29,669 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $95,484 |
| Fees for services: Accounting | $75,959 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $93,387 |
| Fees for services: Other | $130,253 |
| Advertising and promotion | $0 |
| Office expenses | $106,461 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,568 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,712 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,992 |
| Insurance | $29,383 |
| All other expenses | $0 |
| Total functional expenses | $38,704,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,326,313 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,314,273 |
| 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 | $130,469 |
| Investments—publicly traded securities | $33,615,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $43,386,087 |
| Accounts payable and accrued expenses | $223,055 |
| 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 | $18,703,973 |
| Total liabilities | $18,927,028 |
| 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 | $24,459,059 |
| Total liabilities and net assets/fund balances | $43,386,087 |