Carpenters & Joiners Welfare Fund

Organization Overview

Carpenters & Joiners Welfare Fund is located in Bloomington, MN. 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. Carpenters & Joiners 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 12/2021, Carpenters & Joiners Welfare Fund generated $228.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $214.3m during the year ending 12/2021. While expenses have increased by 8.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE HEALTH AND WELFARE BENEFITS PURSUANT TO A COLLECTIVE BARGAINING AGREEMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SELF-FUNDED BENEFITS FOR APPROXIMATELY 14,870 UNION MEMBERS AND THEIR DEPENDENTS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Total Employee Assistance Management
Health Mgmt Program
$841,056
Umr
Claims Processor
$1,738,763
Wilson-mcshane Corporation
Plan Administrator
$4,229,160
Blue Cross Blue Shield Of Minnesota
Claims Processor
$1,324,011
Delta Dental
Claims Processor
$336,241
View All Vendors

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$220,272,997
Investment income $6,231,336
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,098,192
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $228,602,525

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