Teamsters Life Insurance Trust Fund
- Assets
- $36.8m
- Revenue
- $3.7m
- Investments
- $4.2m
- Employees
- 0
- Location
- Dublin, CA
- Founding
- 08/1974
- Data as of
- 01/2022
- EIN
- 23-7316778
Organization Overview
Teamsters Life Insurance Trust Fund is located in Dublin, CA. The organization was established in 1974. 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. Teamsters Life Insurance 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 01/2022, Teamsters Life Insurance Trust Fund generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.5% each year . All expenses for the organization totaled $860.0k during the year ending 01/2022. While expenses have increased by 1.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LIFE INSURANCE AND AD&D BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LIFE INSURANCE AND ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS TO ELIGIBLE PARTICIPANTS AND RETIREES COVERED BY COLLECTIVE BARGAINING AGREEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darrell Pratt Trustee | Trustee | 2 | $4,200 |
Richard Muto Trustee | Trustee | 2 | $4,100 |
Jerry Hammack Trustee | Trustee | 2 | $4,100 |
John Hurley Trustee | Trustee | 2 | $3,900 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pension Benefit Information Llc Data Retrieval Searc | 1/30/22 | $156,824 |
Health Services Benefits Administ Plan Administration | 1/30/22 | $124,952 |
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 | $282,650 |
| Investment income | $1,685,534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,720,334 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,688,518 |
| 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 | $215,181 |
| Compensation of current officers, directors, key employees. | $15,900 |
| 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 | $128,761 |
| Fees for services: Legal | $18,338 |
| Fees for services: Accounting | $54,277 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $155,263 |
| Fees for services: Other | $203,543 |
| Advertising and promotion | $0 |
| Office expenses | $8,658 |
| 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 | $16,989 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $39,218 |
| All other expenses | $3,824 |
| Total functional expenses | $859,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $194,244 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,702 |
| 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 | $18,439 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $32,103,581 |
| Investments—other securities | $4,240,670 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $277,259 |
| Total assets | $36,847,895 |
| Accounts payable and accrued expenses | $58,515 |
| 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 | $131,371 |
| Total liabilities | $189,886 |
| 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 | $36,658,009 |
| Total liabilities and net assets/fund balances | $36,847,895 |