Pipeline Industry Benefit Fund
- Assets
- $58.3m
- Revenue
- $44.2m
- Investments
- $0.0
- Employees
- 30
- Location
- Tulsa, OK
- Founding
- 02/1967
- Data as of
- 12/2022
- EIN
- 73-0742835
Organization Overview
Pipeline Industry Benefit Fund is located in Tulsa, OK. The organization was established in 1967. 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 12/2022, Pipeline Industry Benefit Fund employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pipeline Industry Benefit Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Pipeline Industry Benefit Fund generated $44.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $49.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 8 years. 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 HEALTH AND DEATH BENEFITS COVERING ELIGIBLE PARTICIPANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH AND ACCIDENT
HEALTH REIMBURSEMENT ARRANGEMENT (HRA) BENEFITS
COBRA CLAIMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Hendrix Trustee, Co-Chairman | OfficerTrustee | 0.1 | $0 |
Justin Wallace Trustee, Secretary | OfficerTrustee | 0.1 | $0 |
Kelly Osborn Trustee, Co-Chairman | OfficerTrustee | 0.1 | $0 |
Ronnie Wise Trustee | Trustee | 0.1 | $0 |
Bobby Poteete Trustee | Trustee | 0.1 | $0 |
Robert Kime Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Excelcare Healthcare Services | 12/30/19 | $104,547 |
Innovative Software Solutions Inc Consulting | 12/30/19 | $154,537 |
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 | $42,904,385 |
| Investment income | $1,245,657 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,150,642 |
| 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 | $46,491,055 |
| Compensation of current officers, directors, key employees. | $355,139 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,837,733 |
| Pension plan accruals and contributions | $889,331 |
| Other employee benefits | $646,622 |
| Payroll taxes | $147,941 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,312 |
| Fees for services: Accounting | $31,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $141,141 |
| Fees for services: Other | $45,206 |
| Advertising and promotion | $0 |
| Office expenses | $255,878 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,484 |
| Travel | $118,938 |
| 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 | $127,509 |
| Insurance | $22,857 |
| All other expenses | -$2,208,242 |
| Total functional expenses | $49,238,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,193 |
| Savings and temporary cash investments | $23,204,900 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,371,275 |
| Loans from Officers, Directors, or Controlling Persons | $23,280 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,285 |
| Net Land, buildings, and equipment | $1,136,500 |
| Investments—publicly traded securities | $30,528,360 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $58,317,793 |
| Accounts payable and accrued expenses | $643,337 |
| 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 | $643,337 |
| 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 | $57,674,456 |
| Total liabilities and net assets/fund balances | $58,317,793 |