Pamcah Ua Local 675 Health & Welfare Fund
- Assets
- $82.8m
- Revenue
- $30.0m
- Investments
- $1.1m
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 03/1969
- Data as of
- 07/2023
- EIN
- 99-6009435
Organization Overview
Pamcah Ua Local 675 Health & Welfare Fund is located in Honolulu, HI. The organization was established in 1969. 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. Pamcah Ua Local 675 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 07/2023, Pamcah Ua Local 675 Health & Welfare Fund generated $30.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $21.8m during the year ending 07/2023. While expenses have increased by 2.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH & WELFARE BENEFITS TO ELIGIBLE EMPLOYEES AND THEIR FAMILIES. THE PLAN IS A COLLECTIVELY BARGAINED MULTIEMPLOYER PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SELF-INSURED BENEFITS TO ELIGIBLE PARTICIPANTS BY PAYING FOR INCURRED CLAIMS (MEDICAL CLAIMS $13,098,640, DENTAL CLAIMS $1,799,251, DRUG CLAIMS $2,753,571, AND VISION CLAIMS $248,085).
PROVIDING HEALTH AND WELFARE BENEFITS BY PAYING FOR MONTHLY INSURANCE PREMIUMS TO INSURANCE CARRIERS (INSURANCE STOP-LOSS FEES $740,843, HAWAII MEDICAL SERVICE ASSOCIATION $245,314, HUMANA $61,439, AND PACIFIC GUARDIAN LIFE $489,112).
PROVIDING SELF-INSURED BENEFITS TO ELIGIBLE PARTICIPANTS BY PAYING FOR CLAIMS ADMINISTRATIVE FEES (MEDICAL $903,027, DENTAL $169,119, PRESCRIPTION DRUG $66,190, AND VISION $34,155).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valentino Ceria Union Trustee | Trustee | 1 | $0 |
Matthew Brady Union Trustee | Trustee | 1 | $0 |
Kent A Matsuzaki Management Trustee | Trustee | 1 | $0 |
Mark Suzuki Management Trustee | Trustee | 1 | $0 |
Samuel Fujikawa Management Trustee | Trustee | 1 | $0 |
Gregg Serikaku Management Trustee (alt) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hawaii Medical Service Association Medical Claims Administrator | 7/30/23 | $903,027 |
The Segal Company Actuary/consultant | 7/30/23 | $341,355 |
Hawaii Dental Service Dental Claims Processor | 7/30/23 | $169,119 |
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 | $27,256,987 |
| Investment income | $2,240,653 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $365,704 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,048,650 |
| 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 | $19,436,255 |
| 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 | $95,002 |
| Fees for services: Accounting | $57,592 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $203,097 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $21,703 |
| 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 | $1,527 |
| Insurance | $23,649 |
| All other expenses | $152,641 |
| Total functional expenses | $21,841,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,412,094 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,824,352 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $69,199,413 |
| Investments—other securities | $1,116,696 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $214,307 |
| Total assets | $82,766,862 |
| Accounts payable and accrued expenses | $210,815 |
| 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 | $0 |
| Total liabilities | $210,815 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $82,556,047 |
| 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 | $82,766,862 |