U A Local 393 Health & Welfare Tr
- Assets
- $194.8m
- Revenue
- $73.0m
- Investments
- $0.0
- Employees
- 2
- Location
- San Jose, CA
- Founding
- 05/1955
- Data as of
- 12/2021
- EIN
- 94-6401544
Organization Overview
U A Local 393 Health & Welfare Tr is located in San Jose, CA. The organization was established in 1955. 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 12/2021, U A Local 393 Health & Welfare Tr employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. U A Local 393 Health & Welfare Tr 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, U A Local 393 Health & Welfare Tr generated $73.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $60.3m during the year ending 12/2021. While expenses have increased by 2.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS WITH HEALTH & WELFARE BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS WITH HEALTH & WELFARE BENEFITS ACCORDING TO COLLECTIVE BARGAINING AGREEMENTS BETWEEN EMPLOYERS AND THE UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suzanne H Needham Plan Director | 40 | $130,691 | |
Nancy C Ferguson Member Advocate | 40 | $122,393 | |
Alex Hall Co-Chair | OfficerTrustee | 5 | $0 |
Steve Flores Chairman | OfficerTrustee | 5 | $0 |
Karl Baumheckel Trustee | Trustee | 5 | $0 |
Michael J Vlaming Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kaufmann And Goble Benefit Planning Consultant | 12/30/21 | $122,750 |
Eide Bailey Llp Auditting Services | 12/30/21 | $122,081 |
Columbia Management Investment Management | 12/30/21 | $392,774 |
Benesys Inc Third Party Administration | 12/30/21 | $715,508 |
Kraw & Kraw Legal | 12/30/21 | $103,372 |
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 | $63,963,151 |
| Investment income | $3,338,764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,659,472 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,961,531 |
| 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 | $57,418,816 |
| 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 | $160,310 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $728,352 |
| Fees for services: Legal | $102,643 |
| Fees for services: Accounting | $118,963 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $573,147 |
| Fees for services: Other | $1,098,052 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $10,910 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,720 |
| All other expenses | $0 |
| Total functional expenses | $60,311,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,642,753 |
| Savings and temporary cash investments | $6,468,052 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,377,088 |
| 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 | $11,836 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $169,601,108 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $692,096 |
| Total assets | $194,792,933 |
| Accounts payable and accrued expenses | $761,104 |
| 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 | $76,536,737 |
| Total liabilities | $77,297,841 |
| 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 | $117,495,092 |
| Total liabilities and net assets/fund balances | $194,792,933 |