Teamster Benefit Trust
- Assets
- $647.0m
- Revenue
- $360.0m
- Investments
- $196.4m
- Employees
- 1
- Location
- Fremont, CA
- Founding
- 01/1990
- Data as of
- 09/2021
- EIN
- 94-2848389
Organization Overview
Teamster Benefit Trust is located in Fremont, CA. The organization was established in 1990. 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. Teamster Benefit Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2021, Teamster Benefit Trust generated $360.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $303.4m during the year ending 09/2021. While expenses have increased by 1.0% 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
TO PROVIDE HEALTH AND WELFARE BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Albanese Trustee | Trustee | 1 | $0 |
Rome Aloise Trustee | Trustee | 5 | $0 |
Keith Fleming Trustee | Trustee | 5 | $0 |
John Bouchard Trustee | Trustee | 1 | $0 |
Richard Jordan Trustee | Trustee | 1 | $0 |
Bill Rossi Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lipman Insurance Administrators Inc Administrator | 9/29/21 | $7,391,512 |
Lindquist Llp Audit Services | 9/29/21 | $436,388 |
Anthem Blue Cross Administrative | 9/29/21 | $886,120 |
Beeson Tayer & Bodine Legal Services | 9/29/21 | $300,786 |
Rael & Letson Consulting | 9/29/21 | $251,000 |
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 | $330,464,129 |
| Investment income | $12,323,057 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,242,876 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $360,030,062 |
| 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 | $290,625,391 |
| 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 | $7,505,377 |
| Fees for services: Legal | $328,362 |
| Fees for services: Accounting | $536,010 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,662,379 |
| Fees for services: Other | $2,049,644 |
| Advertising and promotion | $0 |
| Office expenses | $344,099 |
| 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 | $33,677 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $152,432 |
| All other expenses | $136,320 |
| Total functional expenses | $303,373,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$984,372 |
| Savings and temporary cash investments | $15,335,856 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,822,817 |
| 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 | $755,688 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $404,230,002 |
| Investments—other securities | $196,395,120 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $461,200 |
| Total assets | $647,016,311 |
| Accounts payable and accrued expenses | $18,052,395 |
| Grants payable | $0 |
| Deferred revenue | $28,613 |
| 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 | $21,954,300 |
| Total liabilities | $40,035,308 |
| 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 | $606,981,003 |
| Total liabilities and net assets/fund balances | $647,016,311 |