Laborers Local Union-158 Health & Welfare Fund
- Assets
- $63.0m
- Revenue
- $17.0m
- Investments
- $0.0
- Employees
- 5
- Location
- Harrisburg, PA
- Founding
- 08/1962
- Data as of
- 12/2023
- EIN
- 23-1608209
Organization Overview
Laborers Local Union-158 Health & Welfare Fund is located in Harrisburg, PA. The organization was established in 1962. 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. As of 12/2023, Laborers Local Union-158 Health & Welfare Fund employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laborers Local Union-158 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 12/2023, Laborers Local Union-158 Health & Welfare Fund generated $17.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $12.2m during the year ending 12/2023. While expenses have increased by 1.3% per year over the past 9 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 MEDICAL BENEFITS, PRESCRIPTION DRUG, DENTAL & VISION BENEFITS TO MEMBERS THROUGH SELF-INSURANCE PROGRAMS; TO PROVIDE LIFE, AD&D AND S/T DISABILITY BENEFITS TO MEMBERS THROUGH INSURED PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MEDICAL BENEFITS, PRESCRIPTION DRUG, DENTAL, AND VISION BENEFITS TO MEMBERS THROUGH SELF-INSURANCE PROGRAMS. PROVIDED LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT, AND SHORT TERM DISABILITY BENEFITS TO MEMBERS THROUGH INSURED PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James R Davis Employer Trustee | Trustee | 0.5 | $0 |
Robert W Rounay Employer Trustee | Trustee | 0.5 | $0 |
Kevin R Schultz Employer Trustee | Trustee | 0.5 | $0 |
James M Andrews Union Trustee | Trustee | 0.5 | $0 |
Matthew Balikian Union Trustee | Trustee | 0.5 | $0 |
Robert Slick Union 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 | $15,472,523 |
| Investment income | $1,841,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$349,122 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,965,324 |
| 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 | $10,580,340 |
| 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 | $105,460 |
| Pension plan accruals and contributions | $13,933 |
| Other employee benefits | $45,239 |
| Payroll taxes | $8,018 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,569 |
| Fees for services: Accounting | $64,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $339,957 |
| Fees for services: Other | $46,205 |
| Advertising and promotion | $0 |
| Office expenses | $26,735 |
| Information technology | $27,755 |
| Royalties | $0 |
| Occupancy | $2,379 |
| 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 | $16,890 |
| Insurance | $82,056 |
| All other expenses | $0 |
| Total functional expenses | $12,202,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $479 |
| Savings and temporary cash investments | $8,103,988 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,780,325 |
| 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 | $78,177 |
| Net Land, buildings, and equipment | $386,469 |
| Investments—publicly traded securities | $52,245,724 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $435,565 |
| Total assets | $63,030,727 |
| Accounts payable and accrued expenses | $604,003 |
| 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 | $604,003 |
| Net assets without donor restrictions | $62,426,724 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $63,030,727 |