Hawaii Electricians Health & Welfare Fund
- Assets
- $100.9m
- Revenue
- $29.7m
- Investments
- $29.1m
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 09/1963
- Data as of
- 09/2021
- EIN
- 99-0104618
Organization Overview
Hawaii Electricians Health & Welfare Fund is located in Honolulu, HI. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaii Electricians 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 09/2021, Hawaii Electricians Health & Welfare Fund generated $29.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $30.5m during the year ending 09/2021. While expenses have increased by 4.5% 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
ORGANIZATION IS A COLLECTIVELY BARGAINED MULTIEMPLOYER PLAN THAT PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS ACCORDING TO PLAN RULES AND REGULATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SELF INSURED BENEFITS TO ELIGIBLE PARTICIPANTS. MEDICAL $19,162,620; DRUG $3,160,444; DENTAL $2,935,050; VISION $315,890.
TO PROVIDE GROUP INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS BY PAYING MONTHLY INSURANCE PREMIUMS TO INSURANCE CARRIERS. HMSA $2,071,000; PACIFIC GUARDIAN LIFE $640,768; ULLICO $77,312.
TO PAY FOR ADMINISTRATIVE FEES ASSOCIATED WITH SELF-INSURED CLAIMS PROCESSING. MEDICAL $533,002; DENTAL $163,474; DRUG $53,503; VISION $40,276.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Damien Kim Union Trustee | Trustee | 0.5 | $0 |
Tracy Hayashi Union Trustee | Trustee | 0.5 | $0 |
Rodney Chun Employer Trustee | Trustee | 0.5 | $0 |
Robert Aquino Union Trustee (alt) | Trustee | 0.5 | $0 |
Jody Hanamoto Employer Trustee | Trustee | 0.5 | $0 |
Daryl Suehiro Employer Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hwmg Medical Claims Administrator | 9/29/21 | $533,002 |
Hawaii Dental Service Dental Claims Administrator | 9/29/21 | $163,474 |
Segal Plan Consultant | 9/29/21 | $163,832 |
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 | $22,717,535 |
| Investment income | $1,481,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,542,159 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,741,414 |
| 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 | $28,363,084 |
| 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 | $790,255 |
| Fees for services: Legal | $17,676 |
| Fees for services: Accounting | $55,336 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $365,975 |
| Fees for services: Other | $169,519 |
| Advertising and promotion | $0 |
| Office expenses | $13,858 |
| 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 | $1,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $17,156 |
| All other expenses | $0 |
| Total functional expenses | $30,468,768 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,106 |
| Savings and temporary cash investments | $5,969,291 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,930,100 |
| 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 | $60,153 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $60,699,958 |
| Investments—other securities | $29,096,717 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $100,884,325 |
| Accounts payable and accrued expenses | $154,443 |
| 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 | $189,774 |
| Total liabilities | $344,217 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $100,540,108 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $100,884,325 |