Mid Central Operating Engineers Health & Welfare Fund
- Assets
- $188.6m
- Revenue
- $133.3m
- Investments
- $0.0
- Employees
- 85
- Location
- Terre Haute, IN
- Founding
- 07/1954
- Data as of
- 07/2023
- EIN
- 35-0917610
Organization Overview
Mid Central Operating Engineers Health & Welfare Fund is located in Terre Haute, IN. The organization was established in 1954. 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 07/2023, Mid Central Operating Engineers Health & Welfare Fund employed 85 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid Central Operating Engineers 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 07/2023, Mid Central Operating Engineers Health & Welfare Fund generated $133.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $111.0m during the year ending 07/2023. While expenses have increased by 5.5% 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 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMINISTRATION OF GROUP INSURANCE PLAN COVERING ACTIVE AND RETIRED MEMBERS AND DEPENDENTS OF LOCALS 841, 318, 103, AND 649 - INTERNATIONAL UNION OF OPERATING ENGINEERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Ridge Chairman | OfficerTrustee | 2 | $0 |
Robert Rood Trustee | Trustee | 2 | $0 |
John Ballard Vice Chairman | OfficerTrustee | 2 | $0 |
Dee Stahlhut Trustee | Trustee | 2 | $0 |
Darren Smith Trustee | Trustee | 2 | $0 |
Steve Crider Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Optumrx Rx Benefit Mgt. | 7/30/23 | $31,564,661 |
Anthem Insurance Company Ppo | 7/30/23 | $2,728,541 |
Indiana Center For Recovery Inpatient Services | 7/30/23 | $264,114 |
Pekin Memorial Hospital Inpatient Services | 7/30/23 | $155,575 |
Union Hospital Inpatient Services | 7/30/23 | $128,124 |
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 | $130,541,390 |
| Investment income | $3,905,343 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,170,556 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $133,276,177 |
| 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 | $102,938,531 |
| 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 | $823,360 |
| Pension plan accruals and contributions | $225,264 |
| Other employee benefits | $429,275 |
| Payroll taxes | $72,741 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,985 |
| Fees for services: Accounting | $85,003 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $540,551 |
| Fees for services: Other | $165,874 |
| Advertising and promotion | $0 |
| Office expenses | $63,854 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,177 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,150 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,275 |
| Insurance | $26,109 |
| All other expenses | $816,315 |
| Total functional expenses | $111,031,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,188,168 |
| Savings and temporary cash investments | $34,959,710 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,653,947 |
| 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 | $452,477 |
| Investments—publicly traded securities | $130,303,445 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,404 |
| Total assets | $188,569,151 |
| Accounts payable and accrued expenses | $919,472 |
| 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 | $2,213,619 |
| Total liabilities | $3,133,091 |
| 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 | $185,436,060 |
| Total liabilities and net assets/fund balances | $188,569,151 |