West Virginia Laborers Trust Fund
- Assets
- $114.0m
- Revenue
- $56.7m
- Investments
- $80.4m
- Employees
- 17
- Location
- Charleston, WV
- Founding
- 01/1960
- Data as of
- 03/2019
- EIN
- 55-0451207
Organization Overview
West Virginia Laborers Trust Fund is located in Charleston, WV. The organization was established in 1960. 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 03/2019, West Virginia Laborers Trust Fund employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 03/2019, West Virginia Laborers Trust Fund generated $56.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $29.9m during the year ending 03/2019. While expenses have increased by 6.5% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
HEALTH & WELFARE BENEFIT ADMINISTRATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO PLAN PARTICIPANTS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven L Smith Administrative Manager | Officer | 40 | $135,000 |
Jason Hershman Trustee | Trustee | 5 | $0 |
Rick Drain Trustee | Trustee | 5 | $0 |
Kelly Young Trustee | Trustee | 5 | $0 |
Craig Harvey Trustee | Trustee | 5 | $0 |
Jim Carney Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $2,416,571 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $129,990 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $56,651,776 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $27,255,849 |
| Compensation of current officers, directors, key employees. | $135,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $576,421 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $482,754 |
| Payroll taxes | $75,962 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,095 |
| Fees for services: Accounting | $73,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $68,863 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $144,145 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| 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 | $7,446 |
| Insurance | $65,230 |
| All other expenses | $0 |
| Total functional expenses | $29,910,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,326,018 |
| Savings and temporary cash investments | $2,701,723 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,574,910 |
| 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 |
| Investments—publicly traded securities | $20,966,772 |
| Investments—other securities | $80,388,351 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $113,961,528 |
| Accounts payable and accrued expenses | $15,973 |
| 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 | $15,973 |
| 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 |
| Total liabilities and net assets/fund balances | $113,945,555 |