Board Of Trustees Of National Iam B Enefit Trust Fund
- Assets
- $108.3m
- Revenue
- $109.8m
- Investments
- $96.4m
- Employees
- 22
- Location
- Washington, DC
- Founding
- 02/1975
- Data as of
- 12/2021
- EIN
- 36-6562520
Organization Overview
Board Of Trustees Of National Iam B Enefit Trust Fund is located in Washington, DC. The organization was established in 1975. 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 12/2021, Board Of Trustees Of National Iam B Enefit Trust Fund employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Board Of Trustees Of National Iam B Enefit Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Board Of Trustees Of National Iam B Enefit Trust Fund generated $109.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $114.4m during the year ending 12/2021. While expenses have increased by 7.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH, WELFARE, VISION AND DENTAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS ESTABLISHED UNDER A COLLECTIVE BARGAINING AGREEMENT BEWTEEEN VARIOUS EMPLOYERS AND THE INTERANTIONAL ASSOCIATION OF MACHINISTS AND AEROSPACE WORKERS, AFL-CIO AND AFFILIATED IAM LOCAL AND IAM DISTRICT LODGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH, WELFARE, VISION AND DENTAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Brown Director Of Operations | 40 | $153,107 | |
James Tierney Executive Director | Officer | 9.8 | $110,000 |
Diana Lott Employee | 40 | $101,383 | |
Catherine Gray Employee | 40 | $100,615 | |
Dora Cervantes Union Trustee/co-Chair | OfficerTrustee | 1 | $0 |
Amy Kehoe Employer Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vitceh Systems Group Benefit & Admin Software | 12/30/21 | $2,065,013 |
Managed Business Solutions Llc It Services | 12/30/21 | $297,898 |
Linea Solutions Consulting | 12/30/21 | $479,193 |
Delta Dental Claims Processing | 12/30/21 | $331,634 |
Cigna Claims Processing | 12/30/21 | $3,701,350 |
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 | $106,465,100 |
| Investment income | $214,385 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,129,315 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $109,808,800 |
| 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 | $105,869,079 |
| Compensation of current officers, directors, key employees. | $110,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,777,368 |
| Pension plan accruals and contributions | $207,436 |
| Other employee benefits | $366,887 |
| Payroll taxes | $154,838 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,345 |
| Fees for services: Accounting | $68,883 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $273,122 |
| Fees for services: Other | $4,503,250 |
| Advertising and promotion | $0 |
| Office expenses | $367,561 |
| Information technology | $309,793 |
| Royalties | $0 |
| Occupancy | $128,757 |
| Travel | $2,702 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,879 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,270 |
| Insurance | $56,716 |
| All other expenses | $0 |
| Total functional expenses | $114,391,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,863 |
| Savings and temporary cash investments | $5,622,236 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,293,289 |
| 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 | $49,194 |
| Net Land, buildings, and equipment | $4,803,178 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $96,445,238 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $108,324,998 |
| Accounts payable and accrued expenses | $407,449 |
| Grants payable | $0 |
| Deferred revenue | $376,991 |
| 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 | $1,333,972 |
| Total liabilities | $2,118,412 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $106,206,586 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $108,324,998 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Rural Electric Cooperative Arlington, VA | $760,805,496 | $725,806,986 |
National Railway Carriers & United Trans Union Health & Welfare Plan Arlington, VA | $135,864,986 | $500,082,004 |
Neca Ibew Family Medical Care Tr Fund Rockville, MD | $797,485,688 | $708,443,859 |
United Mine Workers Of America 1993 Benefit Plan And Trust Washington, DC | $163,276,132 | $428,882,094 |
Bae Systems North America Welfare Benefit Trust Falls Church, VA | $56,869,441 | $370,352,777 |
Leidos Health And Welfare Benfits Tr Reston, VA | $12,260,297 | $280,739,217 |
National Automatic Sprinkler Industry Welfare Fund Landover, MD | $723,437,488 | $306,850,318 |
Electrical Welfare Trust Fund Lanham, MD | $253,835,800 | $156,907,024 |
Felra And Ufcw Health And Welfare Fund Sparks, MD | $43,824,654 | $128,105,165 |
The Railrd Emplys Nati Earl Retire Major Medcl Benefit Plan Trust Arlington, VA | $52,233,469 | $140,684,385 |
Board Of Trustees Of National Iam B Enefit Trust Fund Washington, DC | $108,324,998 | $109,808,800 |
Sodexho Inc Gaithersburg, MD | $2,033,720 | $97,753,706 |