Hawaii Carpenters Health & Welfare Trust Fund
- Assets
- $342.6m
- Revenue
- $68.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 08/1970
- Data as of
- 08/2021
- EIN
- 99-6014752
Organization Overview
Hawaii Carpenters Health & Welfare Trust Fund is located in Honolulu, HI. The organization was established in 1970. 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. Hawaii Carpenters Health & Welfare Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 08/2021, Hawaii Carpenters Health & Welfare Trust Fund generated $68.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $46.6m during the year ending 08/2021. While expenses have increased by 4.0% 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 OPERATE HEALTH AND WELFARE EMPLOYEE BENEFIT PLANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL, DENTAL, LIFE INSURANCE AND OTHER HEALTH & WELFARE BENEFITS WERE PROVIDED TO APPROXIMATELY 4,139 ELIGIBLE PARTICIPANTS UNDER TWO EMPLOYEE BENEFIT PLANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Hashizume Co-Chair | OfficerTrustee | 1 | $0 |
Ronald Taketa Co-Chair | OfficerTrustee | 1 | $0 |
Conrad C Verdugo Jr Trustee | Trustee | 0.1 | $0 |
Michael Young Trustee | Trustee | 1 | $0 |
Brian Adachi Alternate | Trustee | 0.1 | $0 |
Dione Kalaola Alternate | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hawaii Medical Service Administration Claims Administrator | 8/30/21 | $1,126,817 |
First Hawaiian Bank Investment Custodian | 8/30/21 | $265,466 |
Benefit Plan Solutions Inc Benefit Consultant | 8/30/21 | $160,196 |
Hawaii Benefit Administrators Inc Plan Administration | 8/30/21 | $665,849 |
Raymond James Investment Manager | 8/30/21 | $128,652 |
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 | $48,588,214 |
| Investment income | $7,261,017 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,492,790 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $68,342,021 |
| 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 | $43,797,492 |
| 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 | $1,792,666 |
| Fees for services: Legal | $44,424 |
| Fees for services: Accounting | $45,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $221,207 |
| Fees for services: Other | $374,740 |
| Advertising and promotion | $0 |
| Office expenses | $140,404 |
| Information technology | $32,934 |
| 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 | $28,170 |
| All other expenses | $0 |
| Total functional expenses | $46,637,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $494,643 |
| Savings and temporary cash investments | $9,157,156 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,704,444 |
| 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 | $325,750,251 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,513,842 |
| Total assets | $342,620,336 |
| Accounts payable and accrued expenses | $280,027 |
| 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 | $3,050,000 |
| Other liabilities | $0 |
| Total liabilities | $3,330,027 |
| 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 | $339,290,309 |
| Total liabilities and net assets/fund balances | $342,620,336 |