United Food & Commercial Workers Unions & Food Employers Ben Fund
- Assets
- $452.5m
- Revenue
- $626.3m
- Investments
- $0.0
- Employees
- 14
- Location
- Cypress, CA
- Founding
- 11/1962
- Data as of
- 03/2022
- EIN
- 95-2301788
Organization Overview
United Food & Commercial Workers Unions & Food Employers Ben Fund is located in Cypress, CA. The organization was established in 1962. 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 03/2022, United Food & Commercial Workers Unions & Food Employers Ben Fund employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Food & Commercial Workers Unions & Food Employers Ben Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 03/2022, United Food & Commercial Workers Unions & Food Employers Ben Fund generated $626.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $610.4m during the year ending 03/2022. While expenses have increased by 0.4% 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
TO PROVIDE INSURANCE COVERAGE TO PARTICIPANTS AND FAMILY MEMBERS FROM CONTRIBUTIONS PAID BY EMPLOYERS IN ACCORDANCE WITH PLAN PROVISIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE INSURANCE COVERAGE TO PARTICIPANTS AND FAMILY MEMBERS FROM CONTRIBUTIONS PAID BY EMPLOYERS IN ACCORDANCE WITH PLAN PROVISIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Duffle Trustee | Trustee | 0 | $0 |
Sonia Munoz Trustee | Trustee | 0 | $0 |
Michael Straeter Trustee | Trustee | 0 | $0 |
Todd Walters Trustee | Trustee | 0 | $0 |
Frank Jorgensen Trustee | Trustee | 0 | $0 |
Mark Ramos Trustee | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Blue Cross Blue Shield Health Provider | 3/30/22 | $4,945,448 |
Segal Company Consultant | 3/30/22 | $669,692 |
Health Management Concepts Consultant | 3/30/22 | $2,695,520 |
Sc Ufcw Administration Llc Plan Administrator | 3/30/22 | $20,111,431 |
Sayfarth Shaw Legal | 3/30/22 | $557,885 |
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 | $621,907,041 |
| Investment income | $3,853,063 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $242,568 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $626,269,371 |
| 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 | $584,324,033 |
| 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 | $20,111,431 |
| Fees for services: Legal | $841,757 |
| Fees for services: Accounting | $83,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $636,726 |
| Fees for services: Other | $2,559,906 |
| Advertising and promotion | $0 |
| Office expenses | $1,218,023 |
| Information technology | $81,788 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $253,235 |
| All other expenses | $0 |
| Total functional expenses | $610,427,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,918,969 |
| Savings and temporary cash investments | $24,190,853 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,023,067 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $366,391,273 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $452,524,162 |
| Accounts payable and accrued expenses | $18,041,052 |
| 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 | $148,309,906 |
| Total liabilities | $166,350,958 |
| 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 | $286,173,204 |
| Total liabilities and net assets/fund balances | $452,524,162 |