Ibew Local Union No 212 Health & Welfare Fund
- Assets
- $33.2m
- Revenue
- $19.2m
- Investments
- $14.3m
- Employees
- 52
- Location
- Indianapolis, IN
- Founding
- 09/1969
- Data as of
- 04/2022
- EIN
- 31-0782819
Organization Overview
Ibew Local Union No 212 Health & Welfare Fund is located in Indianapolis, IN. The organization was established in 1969. 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 04/2022, Ibew Local Union No 212 Health & Welfare Fund employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ibew Local Union No 212 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 04/2022, Ibew Local Union No 212 Health & Welfare Fund generated $19.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $19.1m during the year ending 04/2022. While expenses have increased by 3.0% 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
THE MISSION IS TO PROVIDE BENEFITS TO ELIGIBLE PARTICIPANTS OF LOCAL 212, IBEW HEALTH AND WELFARE TRUST FUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED MEDICAL, DENTAL, VISION, PRESCRIPTION DRUG, AND DISABILITY BENEFITS TO ELIGIBLE PARTICIPANTS OF LOCAL 212 IBEW.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Schroth Trustee | Trustee | 1 | $0 |
Andy Hensley Trustee | Trustee | 1 | $0 |
Howard Mayers Trustee | Trustee | 1 | $0 |
Kurt Kube Trustee | Trustee | 1 | $0 |
Al Mundy Trustee | Trustee | 1 | $0 |
Richard Fischer Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Health Care Medicare Admin | 4/29/21 | $696,697 |
Zenith American Solutions Administrative | 4/29/21 | $474,373 |
Anthem Blue Cross Blue Shield Stop Loss | 4/29/21 | $892,170 |
Anthem Blue Cross Blue Shield Benefit Adminis | 4/29/21 | $602,713 |
Activate Health Services | 4/29/21 | $588,709 |
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 | $17,699,575 |
| Investment income | $281,697 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $502,043 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,242,820 |
| 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 | $16,015,093 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $40,900 |
| Total functional expenses | $19,053,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,028,113 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,415,408 |
| 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 | $242,648 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,284,259 |
| Investments—other securities | $14,287,503 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $956,891 |
| Total assets | $33,214,822 |
| Accounts payable and accrued expenses | $8,564,308 |
| 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 | $8,564,308 |
| Net assets without donor restrictions | $24,650,514 |
| 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 | $33,214,822 |