Cooperative Welfare Benefits Fund
- Assets
- $20.2m
- Revenue
- $75.2m
- Investments
- $0.0
- Employees
- 0
- Location
- West Des Moines, IA
- Founding
- 09/1989
- Data as of
- 12/2021
- EIN
- 42-1294150
Organization Overview
Cooperative Welfare Benefits Fund is located in West Des Moines, IA. The organization was established in 1989. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Cooperative Welfare 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 12/2021, Cooperative Welfare Benefits Fund generated $75.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $77.3m during the year ending 12/2021. While expenses have increased by 17.6% 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
THE TRUST WAS ESTABLISHED TO PROVIDE FOR THE PAYMENT OF DEATH, DISABILITY, AD&D, DEPENDENT CARE AND MEDICAL BENEFITS, AND SUCH OTHER BENEFITS DESIGNED TO ENHANCE THE HEALTH AND WELFARE OF EMPLOYEES AND THEIR DEPENDENTS OF PARTICIPATING EMPLOYERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF HEALTH AND WELFARE BENEFITS FOR EMPLOYEES AND DEPENDENTS OF PARTICIPATING EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Lyons Trustee | Trustee | 1 | $0 |
Julie Palmer Trustee | Trustee | 1 | $0 |
Craig Mommer Trustee | Trustee | 1 | $0 |
Joshua Coughlin Vice Chair | Trustee | 1 | $0 |
Todd Netten Trustee | Trustee | 1 | $0 |
Carla Elliott Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellmark Inc Claim Administration | 12/30/21 | $2,846,540 |
Delta Dental Of Iowa Claims Administration | 12/30/21 | $175,757 |
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 | $74,273,459 |
| Investment income | $217,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,834 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,160,652 |
| 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 | $74,065,648 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $77,340,098 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,014 |
| Savings and temporary cash investments | $3,972,874 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,436,014 |
| 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 | $12,817,009 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,233,911 |
| Accounts payable and accrued expenses | $241,895 |
| 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 | $11,451,177 |
| Total liabilities | $11,693,072 |
| 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 | $8,540,839 |
| Total liabilities and net assets/fund balances | $20,233,911 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Common Ground Healthcare Cooperative Brookfield, WI | $311,102,675 | $329,524,362 |
Ascension Health Professional And General Liability Self-Insurance St Louis, MO | $503,289,358 | $223,115,902 |
Lincoln National Corporation Voluntary Employee Bene Assoc Tr Des Moines, IA | $30,374,393 | $155,125,336 |
Cooperative Welfare Benefits Fund West Des Moines, IA | $20,233,911 | $75,160,652 |
University Of Chicago Self Insurance Trust Chicago, IL | $366,096,537 | $38,837,635 |
Workers Compensation Reinsurance Association St Paul, MN | $4,127,132,929 | $379,015,449 |
Welfare Fund Of Engineers Local 513 Bridgeton, MO | $114,642,323 | $59,012,393 |
Ssmhcs Liability Trust Mercantile Bank Ttee St Louis, MO | $216,786,212 | $51,161,074 |
Rush University Medical Centers Self-Insurance Trust For Healthcar Chicago, IL | $184,033,612 | $58,498,218 |
Pohlad Group Veba Trust Milwaukee, WI | $1,880,360 | $21,238,879 |
Automatic Sprinkler-281 U A Welfare Fund Alsip, IL | $43,182,482 | $25,386,372 |
Learfield Communications Group Benefit Trust Inc Jefferson City, MO | $2,893,573 | $17,688,532 |