Operating Engineers Trust Fund Of Washington D C & Vicinity
- Assets
- $36.8m
- Revenue
- $16.9m
- Investments
- $7.9m
- Employees
- 0
- Location
- Sparks, MD
- Founding
- 11/1950
- Data as of
- 12/2022
- EIN
- 52-6038508
Organization Overview
Operating Engineers Trust Fund Of Washington D C & Vicinity is located in Sparks, MD. The organization was established in 1950. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Operating Engineers Trust Fund Of Washington D C & Vicinity is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Operating Engineers Trust Fund Of Washington D C & Vicinity generated $16.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $18.0m during the year ending 12/2022. While expenses have increased by 7.2% per year over the past 8 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
TO PROVIDE MEDICAL, DENTAL, AND OTHER WELFARE BENEFITS TO UNION MEMBERSHIP IN ACCORDANCE WITH COLLECTIVELY BARGAINED AGREEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH CARE, VISION, PRESCRIPTION DRUGS, DISABILITY AND DEATH BENEFITS ADMINISTERED UNDER A COLLECTIVELY BARGAINED AGREEMENT FOR MEMBERS OF OPERATING ENGINEERS LOCAL NO. 77.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Van Dyke Union Trustee | OfficerTrustee | 1 | $0 |
John Knowles Employer Trustee | Trustee | 1 | $0 |
Thomas Johnson Union Trustee | Trustee | 1 | $0 |
C Burke Employer Trustee | Trustee | 1 | $0 |
Berry Gilroy Union Trustee | Trustee | 1 | $0 |
Brian Mazzella Employer Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carefirst Of Maryland Inc Medical Benefits | 12/30/22 | $6,284,077 |
Medstar Washington Hospital Center Inc Medical Benefits | 12/30/22 | $342,722 |
Inova Health Care Services Medical Benefits | 12/30/22 | $606,410 |
Caremark Inc Prescription Benefits | 12/30/22 | $3,269,966 |
Delta Dental Of Pa Dental Insurance | 12/30/22 | $650,921 |
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 | $15,851,660 |
| Investment income | $1,049,657 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$257,386 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,879,071 |
| 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 | $16,547,947 |
| 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 | $501,711 |
| Fees for services: Legal | $44,806 |
| Fees for services: Accounting | $48,546 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $153,392 |
| Fees for services: Other | $643,287 |
| Advertising and promotion | $0 |
| Office expenses | $51,616 |
| 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 | $575 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,017 |
| All other expenses | $0 |
| Total functional expenses | $17,994,897 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,172,690 |
| Savings and temporary cash investments | $398,411 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,918,897 |
| 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 | $104,794 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $25,199,497 |
| Investments—other securities | $7,859,790 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $190,426 |
| Total assets | $36,844,505 |
| Accounts payable and accrued expenses | $251,076 |
| 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 | $0 |
| Total liabilities | $251,076 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $36,593,429 |
| 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 | $36,844,505 |