Inlandboatmens Union Of The Pacific National Health & Welfare Trust
- Assets
- $49.1m
- Revenue
- $33.5m
- Investments
- $0.0
- Employees
- 39
- Location
- Seattle, WA
- Founding
- 08/1988
- Data as of
- 12/2022
- EIN
- 93-0864012
Organization Overview
Inlandboatmens Union Of The Pacific National Health & Welfare Trust is located in Seattle, WA. The organization was established in 1988. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2022, Inlandboatmens Union Of The Pacific National Health & Welfare Trust employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inlandboatmens Union Of The Pacific National Health & Welfare Trust 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, Inlandboatmens Union Of The Pacific National Health & Welfare Trust generated $33.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $34.3m during the year ending 12/2022. While expenses have increased by 3.7% per year over the past 8 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
TO PROVIDE HEALTH AND WELFARE BENEFITS TO QUALIFIED PARTICIPANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISBURSEMENTS NEEDED TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AS SPECIFIED IN THE PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Egland Co-Chair | OfficerTrustee | 0.5 | $0 |
Jay Ubelhart Co-Chair | OfficerTrustee | 0.5 | $0 |
Michael Anderson Trustee | Trustee | 0.5 | $0 |
John Skow Trustee | Trustee | 0.5 | $0 |
Matt Hainley Trustee | Trustee | 0.5 | $0 |
Brian Dodge Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benesys Inc Administration | 12/30/22 | $760,324 |
Premera Blue Cross Claims Administration | 12/30/22 | $357,847 |
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 | $32,318,985 |
| Investment income | $1,009,078 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $191,297 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,535,368 |
| 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 | $32,660,808 |
| 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 | $1,232,365 |
| Fees for services: Legal | $20,643 |
| Fees for services: Accounting | $58,408 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $127,970 |
| Fees for services: Other | $88,179 |
| Advertising and promotion | $0 |
| Office expenses | $59,878 |
| 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 | $6,510 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $29,780 |
| All other expenses | $55,667 |
| Total functional expenses | $34,340,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,229,942 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,075,013 |
| 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 | $69,445 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $35,689,736 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,280 |
| Total assets | $49,082,416 |
| Accounts payable and accrued expenses | $792,146 |
| 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 | $14,368,397 |
| Total liabilities | $15,160,543 |
| 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 | $33,921,873 |
| Total liabilities and net assets/fund balances | $49,082,416 |