Chicago Area I B Of T Health & Welfare Trust Fund
- Assets
- $97.6m
- Revenue
- $39.1m
- Investments
- $35.4m
- Employees
- 7
- Location
- Downers Grove, IL
- Founding
- 04/1952
- Data as of
- 01/2022
- EIN
- 36-2187389
Organization Overview
Chicago Area I B Of T Health & Welfare Trust Fund is located in Downers Grove, IL. The organization was established in 1952. 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 01/2022, Chicago Area I B Of T Health & Welfare Trust Fund employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Area I B Of T Health & Welfare 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 01/2022, Chicago Area I B Of T Health & Welfare Trust Fund generated $39.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $19.2m during the year ending 01/2022. While expenses have increased by 11.8% 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
PROVIDE HEALTH BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, DENTAL, VISION, SICKNESS, AND ACCIDENTAL DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Caballero Assistant Fund Manager | Officer | 40 | $169,993 |
Thomas Stiede Fund Manager | Officer | 4 | $20,415 |
Joseph Burke Trustee | Trustee | 1 | $0 |
Michael Philipp Trustee | Trustee | 1 | $0 |
Ronald Sandack Trustee | Trustee | 1 | $0 |
Howard Murdoch Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Ppo Provider | 1/30/18 | $329,023 |
Dowd Bloch Bennett Cervone Law Firm | 1/30/18 | $102,042 |
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 | $18,031,813 |
| Investment income | $998,715 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,064,706 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,107,186 |
| 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 | $17,119,927 |
| Compensation of current officers, directors, key employees. | $110,688 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $223,678 |
| Pension plan accruals and contributions | $94,313 |
| Other employee benefits | $52,538 |
| Payroll taxes | $36,058 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $178,319 |
| Fees for services: Accounting | $69,715 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,954 |
| Fees for services: Other | $902,746 |
| Advertising and promotion | $0 |
| Office expenses | $84,913 |
| Information technology | $91,676 |
| Royalties | $0 |
| Occupancy | $54,595 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,276 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,879 |
| Insurance | $35,299 |
| All other expenses | $10,286 |
| Total functional expenses | $19,222,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $465,835 |
| Savings and temporary cash investments | $1,359 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,458,288 |
| 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 | $179,975 |
| Net Land, buildings, and equipment | $37,016 |
| Investments—publicly traded securities | $59,100,227 |
| Investments—other securities | $35,354,894 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $97,597,594 |
| Accounts payable and accrued expenses | $109,811 |
| Grants payable | $0 |
| Deferred revenue | $10,899 |
| 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 | $171,517 |
| Total liabilities | $292,227 |
| 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 | $97,305,367 |
| Total liabilities and net assets/fund balances | $97,597,594 |