Hawaii Insulators Health & Welfare Plan
- Assets
- $5.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 08/1970
- Data as of
- 03/2023
- EIN
- 99-6017123
Organization Overview
Hawaii Insulators Health & Welfare Plan is located in Honolulu, HI. The organization was established in 1970. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaii Insulators Health & 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 03/2023, Hawaii Insulators Health & Welfare Plan generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.6m during the year ending 03/2023. While expenses have increased by 5.0% 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 AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS OF EMPLOYERS SIGNATORY TO THE COLLECTIVE BARGAINING AGREEMENT. THIS PLAN IS A MULTI-EMPLOYER PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS BY PAYING INSURANCE PREMIUMS AND SELF-INSURED CLAIMS. (MEDICAL - $1,242,497; SELF-INSURED VISION CLAIMS - $4,271)
TO PROVIDE DENTAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS BY PAYING INSURANCE PREMIUMS.
TO PROVIDE LIFE AND LONG-TERM CARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS BY PAYING INSURANCE PREMIUMS. (TDI - $29,046; LONG TERM CARE - $13,747; LIFE - $11,987; MEDICARE PART D - $664)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Morales Management Trustee - Alt | Trustee | 0.5 | $0 |
Gary Silva Management Trustee | Trustee | 0.5 | $0 |
Ross Inouye Management Trustee | Trustee | 0.5 | $0 |
Ronald Labanon Jr Management Trustee | Trustee | 0.5 | $0 |
Andrew Fortuno Labor Trustee | Trustee | 0.5 | $0 |
Douglas Fulp Labor Trustee | Trustee | 0.5 | $0 |
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 | $1,425,587 |
| Investment income | $136,761 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$88,177 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,474,171 |
| 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 | $1,406,096 |
| 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 | $68,394 |
| Fees for services: Legal | $7,127 |
| Fees for services: Accounting | $24,932 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,216 |
| Fees for services: Other | $56,174 |
| Advertising and promotion | $0 |
| Office expenses | $3,036 |
| 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 | $10,457 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,159 |
| All other expenses | $1,300 |
| Total functional expenses | $1,601,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,398 |
| Savings and temporary cash investments | $659,001 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $130,317 |
| 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 | $4,683,219 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,107 |
| Total assets | $5,599,042 |
| Accounts payable and accrued expenses | $38,700 |
| 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 | $49,048 |
| Total liabilities | $87,748 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $5,511,294 |
| 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 | $5,599,042 |