Locals 302 And 612 Of The Internatl Union Of Operating Engineers Const
- Assets
- $306.3m
- Revenue
- $142.1m
- Investments
- $30.9m
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 09/1954
- Data as of
- 03/2022
- EIN
- 91-6028570
Organization Overview
Locals 302 And 612 Of The Internatl Union Of Operating Engineers Const 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Locals 302 And 612 Of The Internatl Union Of Operating Engineers Const is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 03/2022, Locals 302 And 612 Of The Internatl Union Of Operating Engineers Const generated $142.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $154.5m during the year ending 03/2022. While expenses have increased by 2.3% per year over the past 7 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
PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS, THEIR DEPENDENTS AND RETIREES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS, THEIR DEPENDENTS, AND RETIREES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curt Koegen Trustee | Trustee | 1 | $0 |
Mike Tucci Trustee | Trustee | 1 | $0 |
Andrew Ledbetter Trustee/secretary | Trustee | 1 | $0 |
Todd Mickelson Trustee | Trustee | 1 | $0 |
Sean Jeffries Trustee | Trustee | 1 | $0 |
Mike Lee Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Welfare Pension Administration Se Administration | 3/30/22 | $3,211,742 |
Premera Benefit Admin. | 3/30/22 | $2,305,188 |
First Choice Health Ppo Network Provider | 3/30/22 | $707,842 |
United Healthcare Insurance Company Benefit Admin. | 3/30/22 | $349,870 |
Optumrx Benefit Admin. | 3/30/22 | $26,961,681 |
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 | $126,186,513 |
| Investment income | $8,115,975 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,086,823 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $142,097,763 |
| 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 | $152,034,814 |
| 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 | $979,068 |
| Fees for services: Legal | $108,984 |
| Fees for services: Accounting | $143,579 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $293,634 |
| Fees for services: Other | $219,559 |
| Advertising and promotion | $0 |
| Office expenses | $422,790 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,602 |
| 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 | $57,861 |
| All other expenses | $0 |
| Total functional expenses | $154,478,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,917,664 |
| Savings and temporary cash investments | $7,767,332 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,574,874 |
| 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 | $9,700 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $246,104,414 |
| Investments—other securities | $30,878,502 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $306,252,486 |
| Accounts payable and accrued expenses | $704,197 |
| 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 | $104,708,596 |
| Total liabilities | $105,412,793 |
| 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 | $200,839,693 |
| Total liabilities and net assets/fund balances | $306,252,486 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Washington Teamster Welfare Trust Seattle, WA | $331,766,638 | $341,645,240 |
Sound Health & Wellness Trust Bothell, WA | $181,681,087 | $269,875,972 |
Carpenters Health & Security Trust Of Western Washington Seattle, WA | $419,009,389 | $219,883,529 |
Seiu Healthcare Nw Health Benefits Trust Seattle, WA | $374,711,079 | $290,802,827 |
Oregon Teamster Employers Trust Portland, OR | $186,860,594 | $221,871,166 |
Asea-Afscme Local 52 Health Benefits Trust Spokane, WA | $292,530,544 | $187,703,443 |
Locals 302 And 612 Of The Internatl Union Of Operating Engineers Const Seattle, WA | $306,252,486 | $142,097,763 |
Harrison Electrical Workers Trust Fund Portland, OR | $391,095,863 | $175,936,301 |
Ufcw Local 555 Employers Health Trust Tualatin, OR | $151,793,952 | $133,117,759 |
Public Education Health Trust Anchorage, AK | $55,144,732 | $143,518,522 |
Puget Sound Electrical Workers Healthcare Trust Fund Seattle, WA | $90,774,829 | $127,353,041 |
Business Health Tr Mukilteo, WA | $13,505,686 | $119,029,722 |