General Employees Trust Fund
- Assets
- $178.8m
- Revenue
- $211.2m
- Investments
- $43.4m
- Employees
- 0
- Location
- Brisbane, CA
- Founding
- 10/1974
- Data as of
- 01/2024
- EIN
- 23-7404790
Organization Overview
General Employees Trust Fund is located in Brisbane, CA. The organization was established in 1974. According to its NTEE Classification (P33) the organization is classified as: Child Day Care, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. General Employees 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 01/2024, General Employees Trust Fund generated $211.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $194.6m during the year ending 01/2024. While expenses have increased by 6.1% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MULTIEMPLOYER WELFARE BENEFIT PLAN PROVIDING HEALTH COVERAGE TO PARTICIPANTS ON WHOSE BEHALF EMPLOYERS CONTRIBUTE TO THE PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MULTIEMPLOYER WELFARE BENEFIT PLAN PROVIDING HEALTH COVERAGE TO PARTICIPANTS ON WHOSE BEHALF EMPLOYERS CONTRIBUTE TO THE PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Hernandez Employer Trustee | Trustee | 2 | $24,500 |
Ray Nann Employer Trustee | Trustee | 1 | $24,500 |
Jim Beard Employer Trustee | Trustee | 1.5 | $24,500 |
Timothy Brekke Employer Trustee | Trustee | 1.5 | $24,500 |
David Huerta Union Trustee (alt.) | Trustee | 1 | $0 |
Mark Sharwood Union Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northwest Administrators Inc Administrator | 1/30/24 | $2,558,291 |
Anthem Blue Cross Claim Processor | 1/30/24 | $1,027,551 |
Delta Dental Dental Administrator | 1/30/24 | $327,129 |
National Compliance Services Employer Compliance | 1/30/24 | $300,000 |
Optum Rx Inc Claim Processor | 1/30/24 | $4,715,947 |
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 | $207,407,165 |
| Investment income | $3,906,189 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$343,751 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $211,180,388 |
| 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 | $190,053,738 |
| Compensation of current officers, directors, key employees. | $98,000 |
| 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 | $2,558,291 |
| Fees for services: Legal | $180,541 |
| Fees for services: Accounting | $345,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $389,335 |
| Fees for services: Other | $448,298 |
| Advertising and promotion | $0 |
| Office expenses | $327,868 |
| 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 | $47,884 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $107,378 |
| All other expenses | $50,664 |
| Total functional expenses | $194,607,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $50,273,390 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,839,584 |
| 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 | $28,368 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $64,226,340 |
| Investments—other securities | $43,395,443 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $178,763,125 |
| Accounts payable and accrued expenses | $596,398 |
| 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 | $43,901,380 |
| Total liabilities | $44,497,778 |
| 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 | $134,265,347 |
| Total liabilities and net assets/fund balances | $178,763,125 |