Construction Industry Welfare Fund
- Assets
- $21.3m
- Revenue
- $18.3m
- Investments
- $0.0
- Employees
- 35
- Location
- Rockford, IL
- Founding
- 08/1985
- Data as of
- 10/2021
- EIN
- 36-2265130
Organization Overview
Construction Industry Welfare Fund is located in Rockford, IL. The organization was established in 1985. 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 10/2021, Construction Industry Welfare Fund employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Construction Industry 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 10/2021, Construction Industry Welfare Fund generated $18.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $19.8m during the year ending 10/2021. While expenses have increased by 0.2% 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
TO PROVIDE HEALTH BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, DENTAL, VISION, PRESCRIPTION DRUGS, LIFE, AND LOSS OF TIME BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelli Mcpeek Administrator | Officer | 40 | $69,167 |
Richard Boyd Labor Trustee | Trustee | 3 | $0 |
Bruce Werning Labor Trustee - New | Trustee | 3 | $0 |
Jeff Bockhop Mgmt Trustee | Trustee | 3 | $0 |
Daniel Jansen Labor Trustee -Past | Trustee | 3 | $0 |
Art Sturms Labor Co-Chair | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Group Administrators Ltd Third Party Administrator | 10/30/21 | $366,150 |
Hines & Associates Utilization Review | 10/30/21 | $129,887 |
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 | $17,977,406 |
| Investment income | $205,782 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $26,083 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,311,506 |
| 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 | $18,969,980 |
| Compensation of current officers, directors, key employees. | $100,949 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,365 |
| Pension plan accruals and contributions | $4,152 |
| Other employee benefits | $22,697 |
| Payroll taxes | $9,186 |
| Fees for services: Management | $356,986 |
| Fees for services: Legal | $53,537 |
| Fees for services: Accounting | $110,107 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,850 |
| Advertising and promotion | $0 |
| Office expenses | $21,572 |
| Information technology | $3,657 |
| Royalties | $0 |
| Occupancy | $19,213 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $66 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,075 |
| Insurance | $15,679 |
| All other expenses | $5,598 |
| Total functional expenses | $19,814,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,625,139 |
| Savings and temporary cash investments | $8,482,220 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,054,059 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,359 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,233 |
| Net Land, buildings, and equipment | $9,089 |
| Investments—publicly traded securities | $8,059,381 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,492 |
| Total assets | $21,251,972 |
| Accounts payable and accrued expenses | $29,288 |
| Grants payable | $0 |
| Deferred revenue | $99,426 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $507,161 |
| 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 | $603,812 |
| Total liabilities | $1,239,687 |
| 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 | $20,012,285 |
| Total liabilities and net assets/fund balances | $21,251,972 |