Alaska Laborers Construction Industry Health & Security Fund
- Assets
- $30.4m
- Revenue
- $20.3m
- Investments
- $18.6m
- Employees
- 1
- Location
- Seattle, WA
- Founding
- 12/1954
- Data as of
- 06/2021
- EIN
- 91-6028565
Organization Overview
Alaska Laborers Construction Industry Health & Security Fund is located in Seattle, 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. Alaska Laborers Construction Industry Health & Security Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2021, Alaska Laborers Construction Industry Health & Security Fund generated $20.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $19.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH & WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS OF THE PLAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES HEALTH & WELFARE BENEFITS TO ELIGIBLE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Geraghty Trustee, Secretary | OfficerTrustee | 1 | $0 |
Augustine Merrick II Trustee, Chairman | OfficerTrustee | 1 | $0 |
Jacob Howdeshell Trustee | Trustee | 1 | $0 |
Dave Duclos Trustee | Trustee | 1 | $0 |
Brandon Calcaterra Trustee | Trustee | 0.5 | $0 |
Jeff Miller Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Welfare And Pension Admin Services Inc Third-party Admin | 6/29/21 | $618,568 |
Aetna Claims Admin | 6/29/21 | $333,380 |
Optum Healthcare Solutions Health Solutions | 6/29/21 | $181,657 |
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 | $19,452,326 |
| Investment income | $67,953 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $776,659 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,313,426 |
| 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 | $18,126,316 |
| 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 | $591,723 |
| Fees for services: Legal | $69,624 |
| Fees for services: Accounting | $49,947 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,552 |
| Fees for services: Other | $157,438 |
| Advertising and promotion | $0 |
| Office expenses | $77,979 |
| Information technology | $7,713 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,440 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,923 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $32,162 |
| All other expenses | $37,982 |
| Total functional expenses | $19,182,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,594,229 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,457,940 |
| 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 | $14,066 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,691,383 |
| Investments—other securities | $18,615,244 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,372,862 |
| Accounts payable and accrued expenses | $216,229 |
| 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 | $9,570,000 |
| Total liabilities | $9,786,229 |
| 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 | $20,586,633 |
| Total liabilities and net assets/fund balances | $30,372,862 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Retail Clerks Trust Fka United Food And Commercial Workers Welfare Tru Spokane, WA | $47,661,813 | $45,602,470 |
Omnitrade Health Tr Mukilteo, WA | $1,606,758 | $33,386,840 |
Idaho Power Company Voluntary Employees Beneficiary Association Boise, ID | $41,463,808 | $26,523,416 |
Retirees Welfare Trust Seattle, WA | $113,632,369 | $46,106,899 |
Oregon Laborers-Employers Health And Welfare Trust Fund Portland, OR | $48,314,268 | $38,454,767 |
Alaska Teamster-Employer Welfare Trust Anchorage, AK | $18,961,655 | $35,497,250 |
Agc-International Union Of Operating Engineers Seattle, WA | $75,938,944 | $31,529,799 |
Teamsters 206 Employers Trust Portland, OR | $49,828,794 | $33,002,069 |
Oregon-Washington Carpenters Employers Health And Welfare Fund Seattle, WA | $0 | $86,042,069 |
Sheet Metal Workers 100 Welfare Fund Portland, OR | $59,368,211 | $34,276,972 |
Washington Farm Bureau Health Care Tr Spokane, WA | $5,135,091 | $28,908,709 |
South Bay Hotel Employees Restaurant Employees Welfare Fund Seattle, WA | $47,078,146 | $31,588,354 |