Northwest Iron Workers Health & Security Trust
- Assets
- $65.1m
- Revenue
- $58.3m
- Investments
- $0.0
- Employees
- 39
- Location
- Mercer Island, WA
- Founding
- 01/1958
- Data as of
- 06/2022
- EIN
- 91-6068079
Organization Overview
Northwest Iron Workers Health & Security Trust is located in Mercer Island, WA. The organization was established in 1958. 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 06/2022, Northwest Iron Workers Health & Security Trust employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Iron Workers Health & Security Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2022, Northwest Iron Workers Health & Security Trust generated $58.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $51.6m during the year ending 06/2022. While expenses have increased by 3.9% 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
HEALTH BENEFITS FOR PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS OF THE PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Ilenstine Chairman | OfficerTrustee | 1 | $0 |
Steve Pendergrass Secretary | OfficerTrustee | 1 | $0 |
Ken Carr Trustee | Trustee | 1 | $0 |
Robert Decker Trustee | Trustee | 1 | $0 |
Dick Devries Trustee | Trustee | 1 | $0 |
Allan Harding Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Welfare & Pension Administration Service Third Party Admin | 6/29/22 | $1,409,167 |
Premera Bluecross Claims Processing | 6/29/22 | $987,447 |
Innovative Care Management Inc Medical Management | 6/29/22 | $176,093 |
Rael & Letson Actuary | 6/29/22 | $172,130 |
Legacy Labratory Service Testing Services | 6/29/22 | $114,794 |
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 | $53,549,319 |
| Investment income | $883,474 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,883 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,307,642 |
| 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 | $47,860,284 |
| 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 | $1,058,599 |
| Fees for services: Legal | $59,555 |
| Fees for services: Accounting | $29,806 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $111,455 |
| Fees for services: Other | $1,964,139 |
| Advertising and promotion | $0 |
| Office expenses | $157,429 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $447 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,191 |
| All other expenses | $6,015 |
| Total functional expenses | $51,554,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,965,182 |
| Savings and temporary cash investments | $7,578,866 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,971,102 |
| 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 | $291,225 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $46,340,789 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,147,164 |
| Accounts payable and accrued expenses | $2,336,311 |
| 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 | $44,845,332 |
| Total liabilities | $47,181,643 |
| 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 | $17,965,521 |
| Total liabilities and net assets/fund balances | $65,147,164 |