Alaska Laborers Construction Industry Health & Security Fund
- Assets
- $27.4m
- Revenue
- $19.6m
- Investments
- $16.3m
- Employees
- 2
- Location
- Seattle, WA
- Founding
- 12/1954
- Data as of
- 06/2022
- EIN
- 91-6028565
Organization Overview
Alaska Laborers Construction Industry Health & Security Fund is located in Seattle, WA. The organization was established in 1954. 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. As of 06/2022, Alaska Laborers Construction Industry Health & Security Fund employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alaska Laborers Construction Industry Health & Security Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2022, Alaska Laborers Construction Industry Health & Security Fund generated $19.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $21.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 7 years. 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 HEALTH & WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS OF THE PLAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES HEALTH & WELFARE BENEFITS TO ELIGIBLE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Augustine Merrick II Trustee, Chairman | OfficerTrustee | 1 | $0 |
Steve Geraghty Trustee, Secretary | OfficerTrustee | 1 | $0 |
Dave Duclos Trustee | Trustee | 1 | $0 |
Brandon Calcaterra Trustee | Trustee | 1 | $0 |
Jacob Howdeshell Trustee | Trustee | 1 | $0 |
Jaysen Mathiesen Trustee - Term End 12/21 | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Welfare And Pension Admin Services Inc Third-party Admin | 6/29/22 | $628,863 |
Aetna Claims Admin | 6/29/22 | $319,975 |
Optum Healthcare Solutions Health Solutions | 6/29/22 | $123,187 |
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 | $19,136,660 |
| Investment income | $92,467 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $244,481 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,552,815 |
| 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 | $20,524,906 |
| 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 | $607,838 |
| Fees for services: Legal | $83,465 |
| Fees for services: Accounting | $46,204 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,914 |
| Fees for services: Other | $156,589 |
| Advertising and promotion | $0 |
| Office expenses | $71,605 |
| Information technology | $6,822 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,853 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,172 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $32,558 |
| All other expenses | $37,619 |
| Total functional expenses | $21,600,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,615,885 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,634,165 |
| 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 | $12,921 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,913,352 |
| Investments—other securities | $16,263,546 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,439,869 |
| Accounts payable and accrued expenses | $333,522 |
| 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 | $10,928,024 |
| Total liabilities | $11,261,546 |
| 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 | $16,178,323 |
| Total liabilities and net assets/fund balances | $27,439,869 |