Indiana Kentucky Carpenters Welfare Fund
- Assets
- $345.6m
- Revenue
- $216.1m
- Investments
- $13.6m
- Employees
- 0
- Location
- Troy, MI
- Founding
- 07/1960
- Data as of
- 12/2023
- EIN
- 35-6042362
Organization Overview
Indiana Kentucky Carpenters Welfare Fund is located in Troy, MI. The organization was established in 1960. 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 the central organization for a national or regional group of organizations. Indiana Kentucky Carpenters 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 12/2023, Indiana Kentucky Carpenters Welfare Fund generated $216.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $214.9m during the year ending 12/2023. While expenses have increased by 4.4% per year over the past 9 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
PROVIDING HEALTH AND WELFARE BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, DENTAL, DISABILITY, VISION, AND LIFE INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derrick Anderson Trustee | Trustee | 1 | $0 |
Andy Binkley Trustee | Trustee | 1 | $0 |
Charles Davis Trustee | Trustee | 1 | $0 |
Mike Dugan Trustee | Trustee | 1 | $0 |
Adam Fedak Trustee | Trustee | 1 | $0 |
James Hacker Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Independece Admininstrators Claims Support | 12/30/23 | $3,498,201 |
Express Scripts Rx Admin Fees | 12/30/23 | $2,790,779 |
Benesys Inc General Plan Ad | 12/30/23 | $1,830,827 |
Anthem Insurance Companies Claims Support | 12/30/23 | $1,152,892 |
Delta Dental Claims Processi | 12/30/23 | $475,204 |
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 | $205,107,223 |
| Investment income | $6,331,100 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,538,324 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $216,075,259 |
| 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 | $202,537,184 |
| 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 | $62,752 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $228,793 |
| Fees for services: Accounting | $165,369 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $817,801 |
| Fees for services: Other | $121,458 |
| Advertising and promotion | $0 |
| Office expenses | $478,354 |
| 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 | $7,227 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $46,799 |
| All other expenses | $0 |
| Total functional expenses | $214,879,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,861,422 |
| Savings and temporary cash investments | $4,935,829 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,777,049 |
| 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 | $1,917,724 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $244,510,567 |
| Investments—other securities | $13,557,669 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $345,560,260 |
| Accounts payable and accrued expenses | $23,132,688 |
| 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 | $210,556,067 |
| Total liabilities | $233,688,755 |
| 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 | $111,871,505 |
| Total liabilities and net assets/fund balances | $345,560,260 |