Washington Teamster Welfare Trust
- Assets
- $369.1m
- Revenue
- $372.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 05/1959
- Data as of
- 06/2023
- EIN
- 91-6034673
Organization Overview
Washington Teamster Welfare Trust is located in Seattle, WA. The organization was established in 1959. 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. Washington Teamster Welfare Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, Washington Teamster Welfare Trust generated $372.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $332.8m during the year ending 06/2023. While expenses have increased by 1.9% 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
TO PROVIDE HEALTH AND WELFARE BENEFITS ELIGIBLE PARTICIPANTS, WHICH INCLUDE ACTIVE EMPLOYEES OF PARTICIPATING EMPLOYERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS, WHICH INCLUDE ACTIVE EMPLOYEES OF PARTICIPATING EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Zeiler Trustee | Trustee | 2 | $0 |
Jerry D'ambrosio Trustee | Trustee | 1 | $0 |
Brian Blaisdell Trustee | Trustee | 1 | $0 |
Scott Klitzke Powers Trustee | Trustee | 1 | $0 |
H L Ravenscraft Trustee | Trustee | 2 | $0 |
Brian Person Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northwest Administrators Inc Admin And Inv Mgmt | 6/29/23 | $11,879,104 |
Premera Blue Cross Claims Processing | 6/29/23 | $4,954,254 |
Delta Dental Of Washington Claims Processing | 6/29/23 | $1,037,289 |
Accolade Inc Case Management | 6/29/23 | $1,240,714 |
Medimpact Healthcare Systems Prescription Mgmt | 6/29/23 | $866,326 |
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 | $361,691,961 |
| Investment income | $9,782,562 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,108 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $372,162,639 |
| 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 | $318,281,710 |
| 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 | $11,068,816 |
| Fees for services: Legal | $165,794 |
| Fees for services: Accounting | $525,029 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $267,886 |
| Fees for services: Other | $1,881,683 |
| Advertising and promotion | $0 |
| Office expenses | $394,396 |
| 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 | $8,967 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $112,497 |
| All other expenses | $99,991 |
| Total functional expenses | $332,806,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,321,911 |
| Savings and temporary cash investments | $5,037,445 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,968,434 |
| 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 | $79,839 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $320,739,806 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $369,147,435 |
| Accounts payable and accrued expenses | $449,651 |
| 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 | $110,937,800 |
| Total liabilities | $111,387,451 |
| 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 | $257,759,984 |
| Total liabilities and net assets/fund balances | $369,147,435 |