U F C W Unions & Employers Midwest Health Benefits Fund
- Assets
- $18.9m
- Revenue
- $19.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Rosemont, IL
- Founding
- 04/1963
- Data as of
- 11/2021
- EIN
- 36-2440523
Organization Overview
U F C W Unions & Employers Midwest Health Benefits Fund is located in Rosemont, 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 11/2021, U F C W Unions & Employers Midwest Health Benefits Fund generated $19.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (7.3%) each year. All expenses for the organization totaled $17.7m during the year ending 11/2021. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 5 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
2021
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 |
|---|---|---|---|
Derek Kinney Trustee | Trustee | 1 | $0 |
Brian Jordan Trustee | Trustee | 1 | $0 |
Robert O'toole Trustee | Trustee | 1 | $0 |
Steven M Powell Trustee | Trustee | 1 | $0 |
William R Seehafer Trustee | Trustee | 1 | $0 |
Jonathan Willigman Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Legacy Professionals Llp Accounting Services | 11/29/21 | $135,529 |
Zenith American Solutions Third Party Administrator | 11/29/21 | $494,517 |
Medical Insurance Consulting Group Inc Medical Consulting | 11/29/21 | $173,335 |
The Segal Company Actuarial Services | 11/29/21 | $186,745 |
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 | $16,628,768 |
| Investment income | $304,755 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $151,144 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,437,847 |
| 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 | $16,009,265 |
| 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 | $393,159 |
| Fees for services: Legal | $111,080 |
| Fees for services: Accounting | $98,307 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,761 |
| Fees for services: Other | $330,184 |
| Advertising and promotion | $0 |
| Office expenses | $49,928 |
| Information technology | $25,145 |
| 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 | $5,975 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $106,111 |
| All other expenses | $0 |
| Total functional expenses | $17,677,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $516,034 |
| Savings and temporary cash investments | $1,943,716 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,602,997 |
| 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 | $14,845,945 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,908,692 |
| Accounts payable and accrued expenses | $82,681 |
| 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 | $4,038,243 |
| Total liabilities | $4,120,924 |
| 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 | $14,787,768 |
| Total liabilities and net assets/fund balances | $18,908,692 |