Automatic Sprinkler-281 U A Welfare Fund
- Assets
- $43.3m
- Revenue
- $26.8m
- Investments
- $13.0m
- Employees
- 25
- Location
- Alsip, IL
- Founding
- 11/1954
- Data as of
- 12/2022
- EIN
- 36-2242666
Organization Overview
Automatic Sprinkler-281 U A Welfare Fund is located in Alsip, IL. The organization was established in 1954. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Automatic Sprinkler-281 U A Welfare Fund employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Automatic Sprinkler-281 U A 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 12/2022, Automatic Sprinkler-281 U A Welfare Fund generated $26.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $21.8m during the year ending 12/2022. While expenses have increased by 1.8% 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
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 HEALTH, LIFE, TEMPORARY DISABILITY, ACCIDENTAL DEATH AND DISMEMBERMENT, PRESCRIPTION DRUGS, DENTAL AND VISION BENEFITS TO ELIGIBLE PARTICIPANTS, DEPENDENTS, AND BENEFICIARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Collins Chairman, Trustee - Past | OfficerTrustee | 1 | $0 |
Fred Barall Secretary, Trustee - Past | OfficerTrustee | 3 | $0 |
Neal Mclaughlin Trustee | Trustee | 1 | $0 |
Alex Siu Trustee | Trustee | 3 | $0 |
Bryan Laroche Chairman, Trustee - New | OfficerTrustee | 1 | $0 |
Lance Gunnells Trustee - New | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bcbs Of Illinois Benefit Contract Administrator | 12/30/22 | $435,869 |
Hines & Associates Case Management Services | 12/30/22 | $191,061 |
Maxor Plus Prescription Benefit Provider | 12/30/22 | $145,102 |
Byrne Software Technology It Consultant | 12/30/22 | $114,827 |
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 | $26,694,221 |
| Investment income | $904,676 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$850,806 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,753,766 |
| 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 | $20,372,598 |
| Compensation of current officers, directors, key employees. | $240,103 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $328,382 |
| Pension plan accruals and contributions | $86,826 |
| Other employee benefits | $77,067 |
| Payroll taxes | $43,371 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,936 |
| Fees for services: Accounting | $60,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $77,138 |
| Fees for services: Other | $61,249 |
| Advertising and promotion | $0 |
| Office expenses | $146,392 |
| Information technology | $162,717 |
| Royalties | $0 |
| Occupancy | $13,300 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,755 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,214 |
| Insurance | $25,814 |
| All other expenses | $0 |
| Total functional expenses | $21,808,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $409,947 |
| Savings and temporary cash investments | $3,486,491 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,730,904 |
| 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 | $227,063 |
| Net Land, buildings, and equipment | $25,173 |
| Investments—publicly traded securities | $22,451,331 |
| Investments—other securities | $12,978,828 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $43,309,737 |
| Accounts payable and accrued expenses | $115,495 |
| Grants payable | $0 |
| Deferred revenue | $166,902 |
| 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 | $282,397 |
| 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 | $43,027,340 |
| Total liabilities and net assets/fund balances | $43,309,737 |