Northwest Iron Workers Health & Security Trust
- Assets
- $63.8m
- Revenue
- $56.7m
- Investments
- $0.0
- Employees
- 50
- Location
- Mercer Island, WA
- Founding
- 01/1958
- Data as of
- 06/2021
- EIN
- 91-6068079
Organization Overview
Northwest Iron Workers Health & Security Trust is located in Mercer Island, 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 06/2021, Northwest Iron Workers Health & Security Trust employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Iron Workers Health & Security Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2021, Northwest Iron Workers Health & Security Trust generated $56.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $60.9m during the year ending 06/2021. While expenses have increased by 7.5% per year over the past 6 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
HEALTH BENEFITS FOR PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS OF THE PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Ilenstine Chairman | OfficerTrustee | 1 | $0 |
Steve Pendergrass Secretary | OfficerTrustee | 1 | $0 |
Ken Carr Trustee | Trustee | 1 | $0 |
Robert Decker Trustee | Trustee | 1 | $0 |
Dick Devries Trustee | Trustee | 1 | $0 |
Kevin Patterson Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Welfare & Pension Administration Service Third Party Admin | 6/29/21 | $1,215,639 |
Premera Bluecross Claims Processing | 6/29/21 | $950,528 |
Innovative Care Management Inc Medical Management | 6/29/21 | $272,046 |
Envision Pharmaceutical Services Claims Processing | 6/29/21 | $154,800 |
Rael & Letson Actuary | 6/29/21 | $149,070 |
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 | $55,286,237 |
| Investment income | $893,466 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $419,783 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $56,682,209 |
| 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 | $57,243,170 |
| 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 | $985,967 |
| Fees for services: Legal | $44,345 |
| Fees for services: Accounting | $33,459 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $87,827 |
| Fees for services: Other | $2,023,164 |
| Advertising and promotion | $0 |
| Office expenses | $145,158 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,249 |
| All other expenses | $0 |
| Total functional expenses | $60,872,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,564,823 |
| Savings and temporary cash investments | $2,859,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,577,054 |
| 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 | $20,948 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $50,820,852 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $63,843,277 |
| Accounts payable and accrued expenses | $2,329,242 |
| 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 | $52,558,764 |
| Total liabilities | $54,888,006 |
| 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 | $8,955,271 |
| Total liabilities and net assets/fund balances | $63,843,277 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Business Health Tr Mukilteo, WA | $13,505,686 | $119,029,722 |
Northwest Laborers-Employers Health & Security Trust Fund Bothell, WA | $143,002,816 | $131,850,528 |
Teamsters Local Union 856 Health And Welfare Fund Seattle, WA | $65,927,125 | $107,400,546 |
San Francisco Culinary Bartenders & Service Employees Welfare Fund Seattle, WA | $67,749,672 | $85,873,278 |
Northwest Sheet Metal Workers Welfare Fund Spokane, WA | $157,951,543 | $110,931,256 |
Washington Software Alliance Employee Benefit Trust Mukilteo, WA | $4,181,005 | $81,165,857 |
Painters Trust Tukwila, WA | $121,082,024 | $84,126,168 |
Alaska Electrical Health And Welfare Fund Anchorage, AK | $44,499,503 | $77,262,763 |
Voluntary Employees Benefit Association Trust For Public Spokane, WA | $468,576,735 | $112,351,417 |
Seattle Area Plumbing & Pipefitting Bothell, WA | $65,745,423 | $72,961,849 |
Northwest Fire Fighters Benefits Trust Mukilteo, WA | $48,361,860 | $77,939,030 |
Northwest Iron Workers Health & Security Trust Mercer Island, WA | $63,843,277 | $56,682,209 |