Indiana Laborers Welfare Fund
- Assets
- $297.7m
- Revenue
- $118.0m
- Investments
- $0.0
- Employees
- 290
- Location
- Terre Haute, IN
- Founding
- 05/1957
- Data as of
- 11/2021
- EIN
- 35-0923209
Organization Overview
Indiana Laborers Welfare Fund is located in Terre Haute, IN. The organization was established in 1957. 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 11/2021, Indiana Laborers Welfare Fund employed 290 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Laborers 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 11/2021, Indiana Laborers Welfare Fund generated $118.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $101.0m during the year ending 11/2021. While expenses have increased by 1.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HEALTH & WELFARE BENEFITS TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE UNDER COLLECTIVE BARGAINING FINANCIAL SUPPORT FOR PROGRAMS OF LIFE INSURANCE, HEALTH, ACCIDENT, AND OTHER RELATED BENEFITS TO APPROXIMATELY 9,900 PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francis Gantner Chairman | OfficerTrustee | 1 | $0 |
David Frye Sec-Treasure | OfficerTrustee | 1 | $0 |
Jeffery Chapman Trustee | Trustee | 1 | $0 |
Jeremy Ayres Trustee | Trustee | 1 | $0 |
Ward Daniels Trustee | Trustee | 1 | $0 |
Brian Short Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ifm Global Infrastructure Investment Mgmt | 11/29/21 | $229,274 |
Anthem Inc Med Claims Proc | 11/29/21 | $3,300,109 |
Hines Management Healthcare Med Claims Proc | 11/29/21 | $795,697 |
Delta Dental Med Claims Proc | 11/29/21 | $256,057 |
Smith Graham & Co Investment Adv Investment Mgmt | 11/29/21 | $200,864 |
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 | $100,305,373 |
| Investment income | $5,255,812 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,426,024 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $117,994,109 |
| 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 | $91,216,011 |
| 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 | $1,484,120 |
| Pension plan accruals and contributions | $546,334 |
| Other employee benefits | $354,530 |
| Payroll taxes | $222,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,882 |
| Fees for services: Accounting | $28,892 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,100,756 |
| Fees for services: Other | $97,500 |
| Advertising and promotion | $0 |
| Office expenses | $367,185 |
| Information technology | $376,617 |
| Royalties | $0 |
| Occupancy | $145,079 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,298 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,334 |
| Insurance | $90,799 |
| All other expenses | $10,195 |
| Total functional expenses | $101,017,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,205,859 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,608,075 |
| 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 | $138,172 |
| Net Land, buildings, and equipment | $419,643 |
| Investments—publicly traded securities | $97,733,426 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $166,545,980 |
| Total assets | $297,651,155 |
| Accounts payable and accrued expenses | $3,402,037 |
| 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 | $21,071,587 |
| Total liabilities | $24,473,624 |
| 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 | $273,177,531 |
| Total liabilities and net assets/fund balances | $297,651,155 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Line Construction Benefit Fund Lombard, IL | $1,499,726,971 | $1,007,885,123 |
Wea Insurance Corporation Madison, WI | $792,635,009 | $692,190,590 |
Accenture United States Benefit Chicago, IL | $73,988,977 | $691,324,713 |
Us Bancorp Comp Welfare Benefit Plan Milwaukee, WI | $0 | $532,086,986 |
Safeway Inc Welfare Benefit Tr Chicago, IL | $0 | $500,055,601 |
Exelon Corporation Employees Benefit Trust Chicago, IL | $65,808,636 | $520,300,939 |
Midwest Operating Engineers Welfare Fund Countryside, IL | $1,803,952,687 | $632,490,889 |
United Airlines Employee Sick Leave Tr Chicago, IL | $37,583,032 | $320,362,024 |
Christian Brothers Employee Benefit Trust Romeoville, IL | $200,286,111 | $339,796,574 |
Chicago District Council Of Carpenters Welfare Fund Chicago, IL | $1,016,590,757 | $296,188,790 |
Carpenters Health & Welfare Trust Fund Of St Louis St Louis, MO | $168,277,664 | $240,301,966 |
Electrical Insurance Trustees Chicago, IL | $773,934,785 | $263,143,563 |