Colorado Sheet Metal Workers Local 9 Family Health Plan
- Assets
- $11.7m
- Revenue
- $19.8m
- Investments
- $1.1m
- Employees
- 622
- Location
- Denver, CO
- Founding
- 05/1964
- Data as of
- 12/2022
- EIN
- 84-6029106
Organization Overview
Colorado Sheet Metal Workers Local 9 Family Health Plan is located in Denver, CO. The organization was established in 1964. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. As of 12/2022, Colorado Sheet Metal Workers Local 9 Family Health Plan employed 622 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colorado Sheet Metal Workers Local 9 Family Health Plan 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, Colorado Sheet Metal Workers Local 9 Family Health Plan generated $19.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $21.0m during the year ending 12/2022. While expenses have increased by 8.2% per year over the past 5 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
HEALTH AND WELFARE FUND
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL AND LIFE INSURANCE BENEFITS TO THE ELIGIBLE DEPENDENTS, BENEFICIARIES AND PARTICIPANTS OF THE FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dwayne Stephens Trustee | Trustee | 5 | $0 |
Thomas P Keating Secretary | Trustee | 4 | $0 |
Randy Mitchell Trustee | Trustee | 5 | $0 |
Nathan Cooper Trustee | Trustee | 4 | $0 |
Jon Alvino Chairman | Trustee | 5 | $0 |
Lorey Chittum Administrator | Officer | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Optumrx Pharmacy Benefit Manager | 12/30/22 | $3,042,205 |
Rael & Letson Actuary | 12/30/22 | $101,956 |
Rehn & Associates Third Party Administrator | 12/30/22 | $141,006 |
Umr Inc Benefit Contract Administrator | 12/30/22 | $363,713 |
Slevin & Hart Pc Legal | 12/30/22 | $133,005 |
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 | $19,579,783 |
| Investment income | $301,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$135,440 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,758,140 |
| 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 | $20,453,424 |
| 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 | $75,830 |
| Fees for services: Legal | $133,005 |
| Fees for services: Accounting | $43,347 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,204 |
| Fees for services: Other | $239,534 |
| Advertising and promotion | $0 |
| Office expenses | $31,514 |
| Information technology | $1,431 |
| Royalties | $0 |
| Occupancy | $2,100 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,119 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $803 |
| Insurance | $17,320 |
| All other expenses | $0 |
| Total functional expenses | $21,028,746 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,851 |
| Savings and temporary cash investments | $2,450 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,145,341 |
| 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 | $15,338 |
| Net Land, buildings, and equipment | $2,769 |
| Investments—publicly traded securities | $7,402,793 |
| Investments—other securities | $1,062,345 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,692,887 |
| Accounts payable and accrued expenses | $63,293 |
| Grants payable | $0 |
| Deferred revenue | $14,000 |
| 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 | $144,550 |
| Total liabilities | $221,843 |
| 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 | $11,471,044 |
| Total liabilities and net assets/fund balances | $11,692,887 |