Painters Trust
- Assets
- $102.9m
- Revenue
- $77.6m
- Investments
- $0.0
- Employees
- 1
- Location
- Tukwila, WA
- Founding
- 06/1954
- Data as of
- 07/2022
- EIN
- 91-0597991
Organization Overview
Painters Trust is located in Tukwila, WA. The organization was established in 1954. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Painters Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 07/2022, Painters Trust generated $77.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $88.0m during the year ending 07/2022. While expenses have increased by 5.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PLAN IS MULTIEMPLOYER HEALTH AND WELFARE PLAN DESIGNED TO PROVIDE BENEFITS FOR ELIGIBLE PARTICIPANTS AND BENEFICIARIES AS SPECIFIED IN THE PLAN DOCUMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN IS MULTIEMPLOYER HEALTH AND WELFARE PLAN DESIGNED TO PROVIDE BENEFITS FOR ELIGIBLE PARTICIPANTS AND BENEFICIARIES AS SPECIFIED IN THE PLAN DOCUMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacey Grund Co-Chairman | Officer | 1 | $0 |
Steve Malcom Employer Tru | Trustee | 1 | $0 |
Jeremy Gibson Employer Tru | Trustee | 1 | $0 |
Jonathan Holca Employer Tru | Trustee | 1 | $0 |
Harold Daly Employer Tru | Trustee | 1 | $0 |
Russ James Union Truste | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Urban Law Firm Attorney | 7/30/20 | $225,581 |
Aetna Claims Administ | 7/30/20 | $1,765,038 |
Innovative Care Management Utilization Rev | 7/30/20 | $478,851 |
Benesys Administrator | 7/30/20 | $1,522,911 |
Christensen James & Martin Attorney | 7/30/20 | $252,247 |
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 | $75,182,718 |
| Investment income | $2,339,516 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,542 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $77,554,776 |
| 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 | $81,942,985 |
| 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 | $1,518,866 |
| Fees for services: Legal | $482,284 |
| Fees for services: Accounting | $295,471 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $190,570 |
| Fees for services: Other | $3,068,121 |
| Advertising and promotion | $0 |
| Office expenses | $287,450 |
| 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 | $84,737 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,780 |
| All other expenses | $0 |
| Total functional expenses | $87,967,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,317,824 |
| Savings and temporary cash investments | $1,582,025 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,988,122 |
| 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 | $26,635 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $77,968,191 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $102,882,797 |
| Accounts payable and accrued expenses | $794,441 |
| 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 | $46,619,628 |
| Total liabilities | $47,414,069 |
| 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 | $55,468,728 |
| Total liabilities and net assets/fund balances | $102,882,797 |