Power Engineers Inc Employee Benefit Plan
- Assets
- $5.4m
- Revenue
- $54.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Hailey, ID
- Founding
- 01/2010
- Data as of
- 12/2023
- EIN
- 90-0474836
Organization Overview
Power Engineers Inc Employee Benefit Plan is located in Hailey, ID. The organization was established in 2010. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Power Engineers Inc Employee Benefit Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Power Engineers Inc Employee Benefit Plan generated $54.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $54.1m during the year ending 12/2023. While expenses have increased by 10.0% per year over the past 9 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
THE TRUST PROVIDES MEDICAL, VISION, AND DENTAL BENEFITS TO ALL FULL-TIME, PART-TIME, AND TEMPORARY EMPLOYEES OF POWER ENGINEERS, INC., WHO ARE 18 OR MORE YEARS OF AGE AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENT OF MEDICAL, VISION AND DENTAL CLAIMS FOR ELIGIBLE EMPLOYEES AND DEPENDENTS UNDER THE POWER ENGINEERS, INC. VEBA TRUST. FOR THE YEAR ENDED DECEMBER 31, 2023 THE VEBA SERVED THE FOLLOWING PARTICIPANTS: 3,288 ACTIVE PARTICIPANTS; 42 SEPARATED PARTICIPANTS RECEIVING BENEFITS; 197 SEPARATED PARTICIPANTS ENTITLED TO FUTURE BENEFITS.
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Of Idaho Claims Management | 12/30/23 | $4,116,259 |
Delta Dental Of Idaho Administrative Fees | 12/30/23 | $2,648,449 |
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 | $54,828,663 |
| Investment income | $85,694 |
| 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 | $54,914,357 |
| 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 | $49,540,518 |
| Compensation of current officers, directors, key employees. | $5,000 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,600,767 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $54,146,285 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,532,137 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,870,105 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,402,242 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $5,402,242 |
| Total liabilities and net assets/fund balances | $5,402,242 |