Carpenters Health And Welfare Trust
- Assets
- $763.1m
- Revenue
- $551.0m
- Investments
- $571.7m
- Employees
- 1,064
- Location
- Oakland, CA
- Founding
- 04/1964
- Data as of
- 08/2023
- EIN
- 94-1234856
Organization Overview
Carpenters Health And Welfare Trust is located in Oakland, CA. The organization was established in 1964. 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 08/2023, Carpenters Health And Welfare Trust employed 1,064 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carpenters Health And 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 08/2023, Carpenters Health And Welfare Trust generated $551.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $491.8m during the year ending 08/2023. While expenses have increased by 2.7% 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
HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS COVERED BY COLLECTIVE BARGAINING AGREEMENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO APPROXIMATELY 26,061 ELIGIBLE PARTICIPANTS COVERED BY COLLECTIVE BARGAINING AGREEMENTS BETWEEN EMPLOYERS AND THE UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Bradshaw Chair | OfficerTrustee | 1 | $0 |
Randy Jenco Co-Chair | OfficerTrustee | 1 | $0 |
Eddy Luna Trustee | Trustee | 1 | $0 |
Nancy Brinkerhoff Trustee | Trustee | 1 | $0 |
Mike Mencarini Trustee | Trustee | 1 | $0 |
Jacob Adiarte Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carpenter Funds Administrative Office Of Administration | 8/30/23 | $7,583,293 |
Blue Cross Of California Benefits Administrator | 8/30/23 | $2,522,504 |
Delta Dental Benefits Administrator | 8/30/23 | $1,262,417 |
Indemnity Plan Administration Benefits Administrator | 8/30/23 | $748,539 |
Post Advisory Group Llc Investment Management | 8/30/23 | $509,007 |
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 | $447,823,340 |
| Investment income | $12,575,252 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $72,940,244 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $551,016,000 |
| 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 | $476,306,328 |
| 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 | $12,845,468 |
| Fees for services: Legal | $210,067 |
| Fees for services: Accounting | $45,771 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,137,095 |
| Fees for services: Other | $332,875 |
| Advertising and promotion | $0 |
| Office expenses | $224,097 |
| 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 | $24,792 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $154,732 |
| All other expenses | $22,807 |
| Total functional expenses | $491,769,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,382,220 |
| Savings and temporary cash investments | $53,070,766 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,216,973 |
| 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 | $457,103 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $67,115,383 |
| Investments—other securities | $571,666,269 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,188,710 |
| Total assets | $763,097,424 |
| Accounts payable and accrued expenses | $253,762 |
| 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 | $290,526,526 |
| Total liabilities | $290,780,288 |
| 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 | $472,317,136 |
| Total liabilities and net assets/fund balances | $763,097,424 |