Sound Health & Wellness Trust
- Assets
- $181.7m
- Revenue
- $269.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Bothell, WA
- Founding
- 06/1960
- Data as of
- 03/2022
- EIN
- 91-6058475
Organization Overview
Sound Health & Wellness Trust is located in Bothell, WA. The organization was established in 1960. 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. Sound Health & Wellness Trust 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, Sound Health & Wellness Trust generated $269.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $284.8m during the year ending 03/2022. 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 AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Jorgensen Trustee | Trustee | 1 | $0 |
Brent Bohn Trustee | Trustee | 1 | $0 |
Scott Klitzke Powers Trustee/chairman | Trustee | 1 | $0 |
Faye Guenther Trustee | Trustee | 1 | $0 |
Sean Hammond Trustee | Trustee | 1 | $0 |
Joe Mizrahi Trustee/secretary | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kaiser Foundation Health Plan Of Wa Hmo Administration | 3/30/22 | $15,213,016 |
Zenith American Solutions Inc Administration | 3/30/22 | $6,127,849 |
Zelis Claims Integrity Llc Medical Cost Contain | 3/30/22 | $1,385,392 |
Guardian Nurses Healthcare Advocate Administration | 3/30/22 | $1,352,398 |
Washington Dental Service Dental Administratio | 3/30/22 | $1,353,593 |
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 | $267,938,034 |
| Investment income | $1,902,488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $269,875,972 |
| 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 | $278,542,310 |
| 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 | $3,146,265 |
| Fees for services: Legal | $474,913 |
| Fees for services: Accounting | $52,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,206 |
| Fees for services: Other | $1,066,892 |
| Advertising and promotion | $0 |
| Office expenses | $996,733 |
| 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 | $25,191 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $81,470 |
| All other expenses | $0 |
| Total functional expenses | $284,848,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,411,084 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,163,506 |
| 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 | $161,322 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $128,945,175 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $181,681,087 |
| Accounts payable and accrued expenses | $348,714 |
| 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 | $74,300,000 |
| Total liabilities | $74,648,714 |
| 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 | $107,032,373 |
| Total liabilities and net assets/fund balances | $181,681,087 |
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 |