Operating Engineers-428 Health & Welfare Trust Fund
- Assets
- $48.2m
- Revenue
- $23.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 02/1970
- Data as of
- 09/2023
- EIN
- 86-6025730
Organization Overview
Operating Engineers-428 Health & Welfare Trust Fund is located in Phoenix, AZ. The organization was established in 1970. 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. Operating Engineers-428 Health & Welfare Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2023, Operating Engineers-428 Health & Welfare Trust Fund generated $23.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $17.2m during the year ending 09/2023. While expenses have increased by 2.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEDICAL AND INSURANCE BENEFITS FOR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL BENEFITS AND INSURANCE PREMIUMS PAID FOR ELIGIBLE MEMBERS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Martin Secretary | OfficerTrustee | 1 | $0 |
Mike Lee Chairman | OfficerTrustee | 1 | $0 |
Tim Davies Trustee | Trustee | 1 | $0 |
Steve Campbell Trustee | Trustee | 1 | $0 |
Jay Stevens Trustee | Trustee | 1 | $0 |
Shannon Wright Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zenith American Solutions Administrator | 9/29/23 | $116,742 |
Southwest Service Administrators Administrator | 9/29/23 | $191,808 |
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 | $21,865,700 |
| Investment income | $1,321,760 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,245 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,204,705 |
| 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 | $16,527,427 |
| 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 | $308,550 |
| Fees for services: Legal | $116,221 |
| Fees for services: Accounting | $22,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,215 |
| Fees for services: Other | $85,619 |
| Advertising and promotion | $0 |
| Office expenses | $779 |
| 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 | $20,165 |
| All other expenses | $2,700 |
| Total functional expenses | $17,176,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $498,855 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,250,922 |
| 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 | $32,308 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $41,003,548 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,403,013 |
| Total assets | $48,188,646 |
| Accounts payable and accrued expenses | $100,682 |
| 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 | $11,554,315 |
| Total liabilities | $11,654,997 |
| 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 | $36,533,649 |
| Total liabilities and net assets/fund balances | $48,188,646 |