Hawaii Electricians Health & Welfare Fund
- Assets
- $92.2m
- Revenue
- $24.7m
- Investments
- $25.6m
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 09/1963
- Data as of
- 09/2023
- 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 09/2023, Hawaii Electricians Health & Welfare Fund generated $24.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $23.9m during the year ending 09/2023. 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
2023
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 $12,765,617; DRUG $2,404,680; DENTAL $2,982,618; VISION $299,901.
TO PROVIDE GROUP INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS BY PAYING MONTHLY INSURANCE PREMIUMS TO INSURANCE CARRIERS. HMSA / HUMANA $2,293,537; PACIFIC GUARDIAN LIFE (TDI) $525,706; PACIFIC GUARDIAN LIFE (LIFE) $88,461; ULLICO (STOP LOSS) $92,838.
TO PAY FOR ADMINISTRATIVE FEES ASSOCIATED WITH SELF-INSURED CLAIMS PROCESSING. MEDICAL $553,023; DENTAL $185,678; DRUG $147,672; VISION $39719.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Damien Kim Union Trustee | Trustee | 0.5 | $0 |
Leyton Torda Union Trustee | Trustee | 0.5 | $0 |
Tracy Hayashi Union Trustee | Trustee | 0.5 | $0 |
Robert Aquino Union Trustee (alt) | Trustee | 0.5 | $0 |
Douglas Oki Employer Trustee | Trustee | 0.5 | $0 |
Jody Hanamoto Employer Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hwmg Medical Claims Administrator | 9/29/23 | $553,023 |
Hawaii Electricians Administrative Offic Administrative Office | 9/29/23 | $742,376 |
Segal Plan Consultant | 9/29/23 | $310,264 |
Hawaii Dental Service Dental Claims Administrator | 9/29/23 | $185,678 |
Express Scripts Drug Claims Administrator | 9/29/23 | $147,656 |
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 | $22,396,937 |
| Investment income | $1,751,124 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $525,313 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,673,374 |
| 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 | $21,453,358 |
| 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 | $926,092 |
| Fees for services: Legal | $20,710 |
| Fees for services: Accounting | $67,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $326,582 |
| Fees for services: Other | $315,332 |
| Advertising and promotion | $0 |
| Office expenses | $33,185 |
| 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 | $16,067 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,657 |
| All other expenses | $0 |
| Total functional expenses | $23,941,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $291,462 |
| Savings and temporary cash investments | $10,677,063 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,376,338 |
| 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 | $61,574 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $49,384,104 |
| Investments—other securities | $25,561,324 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,807,249 |
| Total assets | $92,159,114 |
| Accounts payable and accrued expenses | $295,549 |
| 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 | $744,000 |
| Total liabilities | $1,039,549 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $91,119,565 |
| 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 | $92,159,114 |