Carpenters Health & Security Trust Of Western Washington
- Assets
- $419.0m
- Revenue
- $219.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 02/1962
- Data as of
- 12/2021
- EIN
- 91-6029049
Organization Overview
Carpenters Health & Security Trust Of Western Washington is located in Seattle, WA. The organization was established in 1962. 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. Carpenters Health & Security Trust Of Western Washington is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Carpenters Health & Security Trust Of Western Washington generated $219.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $260.9m during the year ending 12/2021. While expenses have increased by 12.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PLAN IS A MULTIEMPLOYER HEALTH AND WELFARE PLAN DESIGNED TO PROVIDE BENEFITS FOR ELIGIBLE PARTICIPANTS AND BENEFICIARIES AS SPECIFIED IN THE PLAN DOCUMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN IS A MULTIEMPLOYER HEALTH AND WELFARE PLAN DESIGNED TO PROVIDE BENEFITS FOR ELIGIBLE PARTICIPANTS AND BENEFICIARIES AS SPECIFIED IN THE PLAN DOCUMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Gleason Trustee | Trustee | 1 | $0 |
Wilf Wainhouse Alternate Trustee | Trustee | 1 | $0 |
Martin Holberg Trustee | Trustee | 1 | $0 |
Gerald Auvil Trustee | Trustee | 1 | $0 |
Tony Edwards Trustee | Trustee | 1 | $0 |
Jeremiah Johnson Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellington Management Company Investment Manager | 12/30/21 | $722,142 |
Aetna Healthcare | 12/30/21 | $2,058,440 |
Delta Dental Of Washington Dental Care | 12/30/21 | $745,841 |
Express Scripts Claims Negotiation | 12/30/21 | $462,409 |
Cheryl Cragg Printing | 12/30/21 | $432,287 |
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 | $199,721,639 |
| Investment income | $8,364,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,684,390 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $219,883,529 |
| 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 | $253,211,411 |
| 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 | $2,558,362 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $779,945 |
| Payroll taxes | $211,020 |
| Fees for services: Management | $233,117 |
| Fees for services: Legal | $283,361 |
| Fees for services: Accounting | $278,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $794,063 |
| Fees for services: Other | $552,827 |
| Advertising and promotion | $0 |
| Office expenses | $1,056,469 |
| Information technology | $390,156 |
| Royalties | $0 |
| Occupancy | $335,453 |
| Travel | $2,706 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,956 |
| Interest | $36,277 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,512 |
| Insurance | $55,166 |
| All other expenses | $0 |
| Total functional expenses | $260,932,301 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,165,442 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,627,862 |
| 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 | $64,074 |
| Net Land, buildings, and equipment | $78,963 |
| Investments—publicly traded securities | $366,073,048 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $419,009,389 |
| Accounts payable and accrued expenses | $8,505,702 |
| Grants payable | $0 |
| Deferred revenue | $4,363,594 |
| 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 | $120,321,500 |
| Total liabilities | $133,190,796 |
| 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 | $285,818,593 |
| Total liabilities and net assets/fund balances | $419,009,389 |
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 |