Plumbers & Pipe Fitters-23 Health & Welfare Fund
- Assets
- $32.5m
- Revenue
- $14.0m
- Investments
- $0.0
- Employees
- 15
- Location
- Rockford, IL
- Founding
- 11/1958
- Data as of
- 12/2023
- EIN
- 36-6110305
Organization Overview
Plumbers & Pipe Fitters-23 Health & Welfare Fund is located in Rockford, IL. The organization was established in 1958. 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 12/2023, Plumbers & Pipe Fitters-23 Health & Welfare Fund employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers & Pipe Fitters-23 Health & 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 12/2023, Plumbers & Pipe Fitters-23 Health & Welfare Fund generated $14.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $13.5m during the year ending 12/2023. While expenses have increased by 7.7% per year over the past 9 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
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, LIFE, DENTAL, VISION, PRESCRIPTION DRUG AND DISABILITY BENEFITS FOR ELIGIBLE PARTICIPANTS AND/OR THEIR DEPENDENTS IN ACCORDANCE WITH THE PLAN DOCUMENT AND SCHEDULE OF BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Huff Chairman | Trustee | 1 | $0 |
Ryan Marshall Trustee | Trustee | 1 | $0 |
Ryan Tracey Trustee | Trustee | 1 | $0 |
William Sprague Trustee | Trustee | 1 | $0 |
Brian Helm Trustee | Trustee | 1 | $0 |
Robert Wooden Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sav Rx Benefit Provider | 12/30/23 | $1,848,841 |
Activate Healthcare Llc Clinic Administrator | 12/30/23 | $603,025 |
Benefits Management Group Inc Administrative Fees | 12/30/23 | $310,353 |
Blue Cross Blue Shield Of Illinois Ppo Network Provider | 12/30/23 | $293,184 |
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 | $13,414,246 |
| Investment income | $795,631 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$244,069 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,967,148 |
| 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 | $12,668,656 |
| 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 | $53,613 |
| Pension plan accruals and contributions | $10,395 |
| Other employee benefits | $26,201 |
| Payroll taxes | $11,495 |
| Fees for services: Management | $310,353 |
| Fees for services: Legal | $49,176 |
| Fees for services: Accounting | $43,735 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $76,615 |
| Fees for services: Other | $101,378 |
| Advertising and promotion | $0 |
| Office expenses | $30,302 |
| Information technology | $1,793 |
| Royalties | $0 |
| Occupancy | $36,619 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,693 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,391 |
| Insurance | $18,310 |
| All other expenses | $0 |
| Total functional expenses | $13,473,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $830,898 |
| Savings and temporary cash investments | $312,984 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,511,599 |
| 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 | $92,756 |
| Net Land, buildings, and equipment | $28,897 |
| Investments—publicly traded securities | $29,674,699 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,388 |
| Total assets | $32,453,221 |
| Accounts payable and accrued expenses | $361,086 |
| Grants payable | $0 |
| Deferred revenue | $6,513 |
| 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 | $229 |
| Total liabilities | $367,828 |
| 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 | $32,085,393 |
| Total liabilities and net assets/fund balances | $32,453,221 |