Shopmen Ironworkers-790 Welfare Plan
- Assets
- $9.1m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 29
- Location
- Pasadena, CA
- Founding
- 03/1963
- Data as of
- 06/2022
- EIN
- 94-6104154
Organization Overview
Shopmen Ironworkers-790 Welfare Plan is located in Pasadena, CA. The organization was established in 1963. 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 06/2022, Shopmen Ironworkers-790 Welfare Plan employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shopmen Ironworkers-790 Welfare Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2022, Shopmen Ironworkers-790 Welfare Plan generated $9.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $9.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.1%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BENEFITS TO PARTICIPANTS AND THEIR BENEFICIARIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOSPITAL, MEDICAL, DENTAL, VISION, PRESRIPTION DRUGS, LIFE AND ACCIDENTAL DEATH AND DIMEMBERSHIP BENEFITS FOR APPROXIMATELY 622 PARTICPANTS AND THEIR DEPENDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Newington Trustee | Trustee | 0.1 | $0 |
Richard Barbour Trustee | Trustee | 0.1 | $0 |
Greg Mcclelland Trustee | Trustee | 0.1 | $0 |
Mike Kirkby Trustee | Trustee | 0.1 | $0 |
Jacob Jameson Trustee | Trustee | 0.1 | $0 |
Erik Schmidli Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rael And Letson Plan Consultant | 6/29/22 | $110,804 |
Iron Workers Employee Benefit Corporation Plan Administration | 6/29/22 | $199,911 |
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 | $9,675,617 |
| Investment income | $113,025 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $142,876 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,936,291 |
| 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 | $9,327,796 |
| 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 | $0 |
| Fees for services: Legal | $22,255 |
| Fees for services: Accounting | $17,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $5,159 |
| All other expenses | $22,472 |
| Total functional expenses | $9,723,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,574 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $559,138 |
| 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 | $2,472 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,511,595 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $998,296 |
| Total assets | $9,073,075 |
| Accounts payable and accrued expenses | $182,227 |
| Grants payable | $0 |
| Deferred revenue | $310,760 |
| 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 | $3,000,000 |
| Total liabilities | $3,492,987 |
| 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 | $5,580,088 |
| Total liabilities and net assets/fund balances | $9,073,075 |