Local No 1 Health Fund
- Assets
- $101.6m
- Revenue
- $78.2m
- Investments
- $18.0m
- Employees
- 38
- Location
- Downers Grove, IL
- Founding
- 09/1965
- Data as of
- 06/2022
- EIN
- 36-2525603
Organization Overview
Local No 1 Health Fund is located in Downers Grove, IL. The organization was established in 1965. 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 06/2022, Local No 1 Health Fund employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local No 1 Health Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2022, Local No 1 Health Fund generated $78.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $81.5m during the year ending 06/2022. While expenses have increased by 9.5% 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 HEALTH BENEFITS TO ELIGIBLE MEMBERS AND DEPENDENTS IN ACCORDANCE WITH THE PLAN DOCUMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Balanoff Chairman - Past | Trustee | 1.5 | $0 |
Efrain Elias Trustee | Trustee | 1 | $0 |
Vince Pesha Trustee | Trustee | 1 | $0 |
Genie Kastrup Chairman | Trustee | 1 | $0 |
Senad Sphahija Trustee | Trustee | 1 | $0 |
Lupita Aguila Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Health Care Service Corp Claims Access Fees | 6/29/22 | $2,547,408 |
Wilson Mcshane Administration Fees | 6/29/22 | $1,329,600 |
Med Care Management Consulting Fees | 6/29/22 | $200,170 |
Remedy Analytics Inc Consulting Fees | 6/29/22 | $112,500 |
Laner Muchin Ltd Legal Fees | 6/29/22 | $184,189 |
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 | $78,039,788 |
| Investment income | $1,312,192 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,262,469 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,174,320 |
| 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 | $79,266,028 |
| 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 | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,349,400 |
| Fees for services: Legal | $202,754 |
| Fees for services: Accounting | $99,831 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $262,323 |
| Fees for services: Other | $186,591 |
| Advertising and promotion | $0 |
| Office expenses | $36,670 |
| 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 | $4,780 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $55,306 |
| All other expenses | $29,528 |
| Total functional expenses | $81,493,211 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1,700,069 |
| Savings and temporary cash investments | $6,304,569 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,099,002 |
| 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 | $15,160 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $70,911,691 |
| Investments—other securities | $17,988,914 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $101,619,267 |
| Accounts payable and accrued expenses | $169,271 |
| 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 | $1,118,462 |
| Total liabilities | $1,287,733 |
| 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 | $100,331,534 |
| Total liabilities and net assets/fund balances | $101,619,267 |