San Diego Electrical Health & Welfare Trust
- Assets
- $35.0m
- Revenue
- $39.5m
- Investments
- $18.1m
- Employees
- 0
- Location
- San Diego, CA
- Founding
- 12/1957
- Data as of
- 09/2021
- EIN
- 95-6035916
Organization Overview
San Diego Electrical Health & Welfare Trust is located in San Diego, CA. The organization was established in 1957. 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. San Diego Electrical 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 09/2021, San Diego Electrical Health & Welfare Trust generated $39.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $44.6m during the year ending 09/2021. While expenses have increased by 6.0% per year over the past 6 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 MEDICAL, DENTAL, VISION AND LIFE INSURANCE BENEFITS TO THE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, DENTAL, VISION CARE AND LIFE INSURANCE BENEFITS, PREMIUMS AND ADMINISTRATION TO PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Berg Trustee | Trustee | 1 | $0 |
Ted Baker Trustee | Trustee | 1 | $0 |
Bruce Bailey Trustee | Trustee | 1 | $0 |
Phil Peterson Trustee | Trustee | 1 | $0 |
Jeremy Abrams Trustee | Trustee | 1 | $0 |
Joel Basore Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Claims Admin | 9/29/21 | $662,311 |
Delta Dental Claims Admin | 9/29/21 | $265,642 |
Navitus Prescrp Benefit Admn | 9/29/21 | $215,200 |
San Diego Electrical Industry Trust Adminstration Svcs | 9/29/21 | $1,212,036 |
Optum Claims Admin | 9/29/21 | $128,048 |
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 | $38,117,226 |
| Investment income | $870,263 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $489,042 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,529,238 |
| 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 | $41,041,782 |
| 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 | $0 |
| Fees for services: Legal | $60,021 |
| Fees for services: Accounting | $27,521 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $169,557 |
| Fees for services: Other | $114,333 |
| Advertising and promotion | $0 |
| Office expenses | $33,633 |
| Information technology | $11,000 |
| 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 | $5,535 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $79,087 |
| All other expenses | $669,079 |
| Total functional expenses | $44,590,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,005,176 |
| Savings and temporary cash investments | $4,698,762 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,552,875 |
| 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 | $7,649,489 |
| Investments—other securities | $18,109,712 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,579 |
| Total assets | $35,021,593 |
| Accounts payable and accrued expenses | $71,679 |
| 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 | $25,823,068 |
| Total liabilities | $25,894,747 |
| 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 | $9,126,846 |
| Total liabilities and net assets/fund balances | $35,021,593 |