Operating Engineers Union 3 Pensioned Health & Welfare Fund
- Assets
- $267.2m
- Revenue
- $118.2m
- Investments
- $64.0m
- Employees
- 0
- Location
- Alameda, CA
- Founding
- 10/1964
- Data as of
- 12/2021
- EIN
- 94-6096327
Organization Overview
Operating Engineers Union 3 Pensioned Health & Welfare Fund is located in Alameda, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Operating Engineers Union 3 Pensioned Health & 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, Operating Engineers Union 3 Pensioned Health & Welfare Fund generated $118.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $96.3m during the year ending 12/2021. 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 HEALTHCARE BENEFITS DURING RETIREMENT TO ELIGIBLE OPERATING ENGINEERS COVERED BY COLLECTIVE BARGAINING AGREEMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTHCARE BENEFITS DURING RETIREMENT TO ELIGIBLE OPERATING ENGINEERS COVERED BY COLLECTIVE BARGAINING AGREEMENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin J Albanese Trustee | Trustee | 2 | $0 |
Bryan K Flake Trustee (former) | Trustee | 2 | $0 |
Thomas Holsman Trustee | Trustee | 2 | $0 |
Tom Squeri Trustee | Trustee | 2 | $0 |
Justin Diston Trustee | Trustee | 2 | $0 |
David R Stanton Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Blue Cross Claims Administrator | 12/30/21 | $1,545,001 |
Optum Rx Prescription Admin. | 12/30/21 | $353,321 |
Zenith American Solutions Contract Admin. | 12/30/21 | $2,332,065 |
Chartwell Investment Partners Investment Mgmt | 12/30/21 | $207,371 |
Part D Advisors Prescription Admin. | 12/30/21 | $186,474 |
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 | $111,854,135 |
| Investment income | $5,070,994 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,025,326 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,212,622 |
| 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 | $89,276,617 |
| 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 | $2,332,065 |
| Fees for services: Legal | $54,315 |
| Fees for services: Accounting | $50,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $435,844 |
| Fees for services: Other | $356,411 |
| Advertising and promotion | $0 |
| Office expenses | $25,071 |
| 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 | $7,002 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $47,629 |
| All other expenses | $53,423 |
| Total functional expenses | $96,264,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,008,925 |
| Savings and temporary cash investments | $3,894,090 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,043,483 |
| 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 | $777 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $139,242,055 |
| Investments—other securities | $63,975,329 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $267,164,659 |
| Accounts payable and accrued expenses | $135,926 |
| Grants payable | $0 |
| Deferred revenue | $352,294 |
| 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 | $14,238,700 |
| Total liabilities | $14,726,920 |
| 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 | $252,437,739 |
| Total liabilities and net assets/fund balances | $267,164,659 |