Puget Sound Electrical Workers Healthcare Trust Fund is located in Seattle, WA. The organization was established in 1958. 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 07/2023, Puget Sound Electrical Workers Healthcare Trust Fund employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Puget Sound Electrical Workers Healthcare 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 07/2023, Puget Sound Electrical Workers Healthcare Trust Fund generated $128.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $143.7m during the year ending 07/2023. While expenses have increased by 8.4% 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
PROVIDE HEALTH AND VACATION BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND VACATION BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS AS SPECIFIED BY THE PLAN.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Janet Lewis Chairman | OfficerTrustee | 1 | $0 |
Sean Bagsby Trustee | Trustee | 1 | $0 |
Gillian Burlingham Trustee | Trustee | 1 | $0 |
Barry Sherman Secretary | OfficerTrustee | 1 | $0 |
Michael Broberg Trustee | Trustee | 1 | $0 |
Marv Nelson Trustee | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Welfare & Pension Administration Service Third Party Administration | 7/30/23 | $3,418,956 |
Premera Blue Cross Claims Administration | 7/30/23 | $1,759,846 |
Elixir Solutions Pharmacy Benefit Management | 7/30/23 | $250,126 |
Zelis Claims Integrity Managed Care Claims Administration | 7/30/23 | $245,460 |
Comagine Health Utilization Review & Case Management | 7/30/23 | $233,853 |
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 | $126,419,880 |
Investment income | $1,898,438 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$141,273 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $128,577,306 |
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 | $136,765,053 |
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 | $1,006,281 |
Fees for services: Legal | $122,260 |
Fees for services: Accounting | $180,541 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $109,796 |
Fees for services: Other | $5,172,277 |
Advertising and promotion | $0 |
Office expenses | $252,961 |
Information technology | $5,647 |
Royalties | $0 |
Occupancy | $0 |
Travel | $71 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $7,897 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $49,176 |
All other expenses | $0 |
Total functional expenses | $143,671,960 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,990,423 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $12,599,312 |
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 | $43,522 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $67,384,630 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $82,017,887 |
Accounts payable and accrued expenses | $374,429 |
Grants payable | $0 |
Deferred revenue | $812,000 |
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 | $63,742,103 |
Total liabilities | $64,928,532 |
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 | $17,089,355 |
Total liabilities and net assets/fund balances | $82,017,887 |