Pipe Industry Insurance Fund
- Assets
- $41.7m
- Revenue
- $38.3m
- Investments
- $0.0
- Employees
- 511
- Location
- Denver, CO
- Founding
- 03/1958
- Data as of
- 12/2021
- EIN
- 84-0456274
Organization Overview
Pipe Industry Insurance Fund is located in Denver, CO. The organization was established in 1958. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Pipe Industry Insurance Fund employed 511 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pipe Industry Insurance 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, Pipe Industry Insurance Fund generated $38.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $35.6m during the year ending 12/2021. While expenses have increased by 5.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INSURANCE COVERAGE TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS FROM CONTRIBUTIONS PAID IN ACCORDANCE WITH PLAN PROVISIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE INSURANCE COVERAGE TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS FROM CONTRIBUTIONS PAID IN ACCORDANCE WITH PLAN PROVISIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Flanagan Executive Director | Officer | 37 | $203,791 |
Ron Lenz Trustee | Trustee | 1 | $0 |
Allen C Stone Trustee | Trustee | 1 | $0 |
Mark Miller Trustee | Trustee | 1 | $0 |
Joe Kocol Trustee | Trustee | 1 | $0 |
Sean Wyatt Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cigna Health Life Insurance Compa Administrative | 12/30/21 | $2,050,212 |
Spencer Ffane Llp Legal | 12/30/21 | $101,479 |
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 | $37,433,293 |
| Investment income | $869,962 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,153 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,277,102 |
| 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 | $34,479,961 |
| Compensation of current officers, directors, key employees. | $203,791 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $185,433 |
| Pension plan accruals and contributions | $29,141 |
| Other employee benefits | $44,412 |
| Payroll taxes | $26,600 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $101,479 |
| Fees for services: Accounting | $81,366 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $96,071 |
| Fees for services: Other | $112,238 |
| Advertising and promotion | $0 |
| Office expenses | $112,944 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,032 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,026 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,001 |
| Insurance | $28,552 |
| All other expenses | $0 |
| Total functional expenses | $35,594,037 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,427,410 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,770,212 |
| 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 | $78,537 |
| Net Land, buildings, and equipment | $143,155 |
| Investments—publicly traded securities | $33,329,928 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,749,242 |
| Accounts payable and accrued expenses | $49,479 |
| 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 | $17,314,751 |
| Total liabilities | $17,364,230 |
| 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 | $24,385,012 |
| Total liabilities and net assets/fund balances | $41,749,242 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Contractors Health Trust Englewood, CO | $10,610,854 | $43,833,708 |
Leprino Foods Company Health & Welfare T Denver, CO | $0 | $45,513,624 |
Pipe Industry Insurance Fund Denver, CO | $41,749,242 | $38,277,102 |
Dolese Bros Co Veba Trust Oklahoma City, OK | $445,170 | $18,567,104 |
Security Benefit Voluntary Employee Benefits Trust Topeka, KS | $8,971,647 | $18,230,736 |
Worldatwork Scottsdale, AZ | $26,461,650 | $14,061,947 |
Balls Price Chopper Employee Benefit Plan & Trust Kansas City, KS | $0 | $12,111,807 |
National Crop Insurance Services Incorporated Overland Park, KS | $14,876,300 | $11,753,443 |
Ag Processing Inc Welfare Benefits Funds Omaha, NE | $532,385 | $8,388,903 |
Utah Automobile Dealers Association Insurance Trust Murray, UT | $2,618,814 | $8,161,346 |
Kaiser-Francis Employees Benefit Tr Tulsa, OK | $1,100,579 | $8,088,672 |
Whitney Benefits Inc Sheridan, WY | $0 | $8,065,168 |