U A Local 350 Health & Welfare & Vacation Trust Fund
- Assets
- $6.4m
- Revenue
- $13.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Reno, NV
- Founding
- 09/1964
- Data as of
- 08/2023
- EIN
- 88-6003301
Organization Overview
U A Local 350 Health & Welfare & Vacation Trust Fund is located in Reno, NV. The organization was established in 1964. 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. U A Local 350 Health & Welfare & Vacation 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 08/2023, U A Local 350 Health & Welfare & Vacation Trust Fund generated $13.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $14.4m during the year ending 08/2023. While expenses have increased by 10.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH, WELFARE AND VACATION BENEFITS FOR THE PLAN'S ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEDICAL, PRESCRIPTION DRUGS, DISABILITY, DENTAL, VISION, AND VACATION BENEFITS, PAY FOR MEDICAL STOP LOSS, LIFE AND AD&D INSURANCE PREMIUMS FOR ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Madole Co-Chairman | Trustee | 1 | $0 |
Chris Doris Chairman | Trustee | 1 | $0 |
Michael W Scolari Trustee | Trustee | 0.5 | $0 |
Chuck Beaupre Trustee | Trustee | 0.5 | $0 |
Bob Gardner Trustee | Trustee | 0.5 | $0 |
Randy Canale Trustee | Trustee | 0.5 | $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 | $12,580,480 |
| Investment income | $63,491 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,098,738 |
| 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 | $13,759,352 |
| 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 | $390,033 |
| Fees for services: Legal | $68,199 |
| Fees for services: Accounting | $35,068 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,560 |
| Fees for services: Other | $32,000 |
| Advertising and promotion | $0 |
| Office expenses | $52,798 |
| 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 | $8,659 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,226 |
| All other expenses | $3,340 |
| Total functional expenses | $14,367,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,458,989 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,240,830 |
| 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 | $15,363 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,669,778 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,384,960 |
| Accounts payable and accrued expenses | $46,540 |
| Grants payable | $0 |
| Deferred revenue | $4,950 |
| 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 | $660,167 |
| Total liabilities | $711,657 |
| 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 | $5,673,303 |
| Total liabilities and net assets/fund balances | $6,384,960 |