Hawaii Carpenters Health & Welfare Trust Fund
- Assets
- $322.4m
- Revenue
- $58.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 08/1970
- Data as of
- 08/2023
- EIN
- 99-6014752
Organization Overview
Hawaii Carpenters Health & Welfare Trust Fund is located in Honolulu, HI. The organization was established in 1970. 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 Carpenters Health & Welfare Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 08/2023, Hawaii Carpenters Health & Welfare Trust Fund generated $58.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $49.1m during the year ending 08/2023. 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
TO OPERATE HEALTH AND WELFARE EMPLOYEE BENEFIT PLANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL, DENTAL, LIFE INSURANCE AND OTHER HEALTH & WELFARE BENEFITS WERE PROVIDED TO APPROXIMATELY 3,632 ELIGIBLE PARTICIPANTS UNDER TWO EMPLOYEE BENEFIT PLANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erik Nakamura Trustee | Trustee | 0.1 | $0 |
Conrad C Verdugo Jr Trustee | Trustee | 0.1 | $0 |
Dione Kalaola Alternate | Trustee | 0.1 | $0 |
Eric Hashizume Co-Chair | OfficerTrustee | 1 | $0 |
Blake Inouye Trustee | Trustee | 0.1 | $0 |
Glen Kaneshige Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hawaii Benefit Administrators Inc Trust Administrator | 8/30/23 | $647,914 |
First Hawaiian Bank Investment Custodian | 8/30/23 | $139,918 |
Raymond James Investment Manager | 8/30/23 | $120,653 |
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 | $46,740,683 |
| Investment income | $11,724,811 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$190,675 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,274,819 |
| 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 | $46,957,996 |
| 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 | $1,063,509 |
| Fees for services: Legal | $41,649 |
| Fees for services: Accounting | $78,271 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $613,333 |
| Fees for services: Other | $140,243 |
| Advertising and promotion | $0 |
| Office expenses | $144,843 |
| Information technology | $26,064 |
| 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 | $1,573 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $36,580 |
| All other expenses | $0 |
| Total functional expenses | $49,134,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $670,178 |
| Savings and temporary cash investments | $20,213,260 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,431,162 |
| 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 | $300,038,553 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $322,353,153 |
| Accounts payable and accrued expenses | $35,053 |
| 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 | $1,250,000 |
| Other liabilities | $0 |
| Total liabilities | $1,285,053 |
| 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 | $321,068,100 |
| Total liabilities and net assets/fund balances | $322,353,153 |