U F C W Unions & Employers Midwest Health Benefits Fund
- Assets
- $16.1m
- Revenue
- $14.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Downers Grove, IL
- Founding
- 04/1963
- Data as of
- 11/2023
- EIN
- 36-2440523
Organization Overview
U F C W Unions & Employers Midwest Health Benefits Fund is located in Downers Grove, IL. The organization was established in 1963. 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 an independent organization and not affiliated with a larger national or regional group of organizations. U F C W Unions & Employers Midwest Health Benefits Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 11/2023, U F C W Unions & Employers Midwest Health Benefits Fund generated $14.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.5%) each year. All expenses for the organization totaled $15.5m during the year ending 11/2023. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 7 years. 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
PROVIDE HEALTH BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH CARE AND RELATED BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert O'toole Trustee | Trustee | 1 | $0 |
Steven M Powell Trustee | Trustee | 1 | $0 |
Jonathan Willigman Trustee | Trustee | 1 | $0 |
Brian Jordan Trustee | Trustee | 1 | $0 |
William R Seehafer Trustee | Trustee | 1 | $0 |
Derek Kinney Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benesys Inc Third Party Administrator | 11/29/23 | $321,016 |
The Segal Company Actuarial Services | 11/29/23 | $172,608 |
Medical Insurance Consulting Group Inc Medical Consulting | 11/29/23 | $145,063 |
Reinhart Boerner Van Deuren Sc Legal Services | 11/29/23 | $121,500 |
Legacy Professionals Llp Accounting Services | 11/29/23 | $120,182 |
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 | $12,919,110 |
| Investment income | $334,260 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$58,517 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,083,766 |
| 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 | $13,792,584 |
| 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 | $385,080 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $317,045 |
| Fees for services: Legal | $175,031 |
| Fees for services: Accounting | $133,866 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $44,619 |
| Fees for services: Other | $393,714 |
| Advertising and promotion | $0 |
| Office expenses | $82,784 |
| 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 | $615 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $104,468 |
| All other expenses | $0 |
| Total functional expenses | $15,538,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $981,625 |
| Savings and temporary cash investments | $174,590 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,659,630 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,299,285 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $869 |
| Total assets | $16,115,999 |
| Accounts payable and accrued expenses | $155,207 |
| 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 | $1,517,146 |
| Total liabilities | $1,672,353 |
| 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 | $14,443,646 |
| Total liabilities and net assets/fund balances | $16,115,999 |