Apartment Employees Welfare Fund
- Assets
- $5.5m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 03/1958
- Data as of
- 12/2021
- EIN
- 94-6069860
Organization Overview
Apartment Employees Welfare Fund is located in Seattle, WA. The organization was established in 1958. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Apartment Employees Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Apartment Employees Welfare Fund generated $6.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $6.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 7 years. 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 CARE BENEFITS TO ELIGIBLE COLLECTIVELY BARGAINED PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH CARE BENEFITS TO ELIGIBLE PARTICIPANTS COVERED UNDER COLLECTIVE BARGAINING AGREEMENTS BETWEEN THE UNION AND THE EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Sauter Chairman | OfficerTrustee | 5 | $0 |
Patrick Kennedy General Manager | Trustee | 5 | $0 |
Eugenia Gutierrez Trustee - Alternate | Trustee | 5 | $0 |
Mark Sharwood Secretary | Trustee | 5 | $0 |
Margo Karstadt Trustee - Alternate | Trustee | 5 | $0 |
See Schedule O For Compensation Paid By Related Organizations | Trustee | 0 | $0 |
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 | $6,307,433 |
| Investment income | $92,351 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,638 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,534,681 |
| 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 | $6,179,535 |
| 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 | $66,060 |
| Fees for services: Legal | $19,698 |
| Fees for services: Accounting | $53,008 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,014 |
| Fees for services: Other | $55,076 |
| Advertising and promotion | $0 |
| Office expenses | $2,790 |
| 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 | $550 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,430 |
| All other expenses | $0 |
| Total functional expenses | $6,398,161 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,537,056 |
| Savings and temporary cash investments | $176,147 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $655,664 |
| 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 | $4,204 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,104,673 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,477,744 |
| Accounts payable and accrued expenses | $4,477 |
| 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 | $735,525 |
| Total liabilities | $740,002 |
| 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 | $4,737,742 |
| Total liabilities and net assets/fund balances | $5,477,744 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oregon Processors Employees Trust Portland, OR | $10,788,893 | $16,907,062 |
San Diego City Employees Retiree Medical Trust Spokane, WA | $249,053,704 | $31,450,538 |
Washington Life And Disability Guaranty Association Shelton, WA | $17,623,213 | $10,170,457 |
Roofers-49 Welfare Fund Portland, OR | $18,594,666 | $10,766,232 |
Washington Surveying & Rating Bureau Renton, WA | $7,711,093 | $10,036,683 |
Paradigm Indemnity Corporation Corvallis, OR | $60,433,945 | $10,885,201 |
Hagadone Employee Benefit Trust Coeur Dalene, ID | $293,742 | $6,679,723 |
Apartment Employees Welfare Fund Seattle, WA | $5,477,744 | $6,534,681 |
Southwest Hide Employee Benefit Trust Boise, ID | $0 | $3,282,643 |
Enlighten Veba Hra Trust Eugene, OR | $17,038,960 | $3,841,939 |
Surplus Line Association Of Washington Seattle, WA | $8,316,069 | $1,817,824 |
All Alaska Longshore Vacation & Holiday Fund Portland, OR | $1,910,592 | $2,392,851 |