Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: H&W Employer Contributions

  total $4,832,069,723 · related or exempt $4,832,069,723 · unrelated business $0 · excluded $0

• 2b · Program service revenue: H&W Participants Contributions

  total $56,103,237 · related or exempt $56,103,237 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $368,378,967 · related or exempt $368,378,967 · unrelated business $0 · excluded $0

• 4 · Income from investment of tax-exempt bond proceeds

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 5 · Royalties

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 6a · Gross rents

  real property $0 · personal property $0

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 7a · Gross sales of assets other than inventory

  securities $75,413,204,035 · other assets $0

• 7b · Less cost or other basis and sales expenses

  securities $75,656,442,134 · other assets $0

• 7c · Gain or loss

  securities -$243,238,099 · other assets $0

• 7d · Net gain or loss

  total -$243,238,099 · related or exempt -$243,238,099 · unrelated business $0 · excluded $0

• 11a · Other revenue: Miscellaneous

  total $912,318 · related or exempt $912,318 · unrelated business $0 · excluded $0

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $912,318

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $3,838,074,947

• 5 · Compensation of officers, directors and key employees

  total $3,545,450

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $49,063,712

• 8 · Pension plan contributions

  total $11,455,829

• 9 · Other employee benefits

  total $15,301,387

• 10 · Payroll taxes

  total $3,943,545

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $194,295

• 11c · Fees: accounting

  total $187,836

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $15,799,014

• 11g · Fees: other

  total $2,624,288

• 12 · Advertising and promotion

  total $0

• 13 · Office expenses

  total $5,168,698

• 14 · Information technology

  total $13,374,417

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $2,400,171

• 17 · Travel

  total $222,970

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $65,594

• 20 · Interest

  total $0

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $3,427,575

• 23 · Insurance

  total $502,118

• 24a · Other expenses: Dues, Publications and Subscriptions

  total $87,477

• 24b · Other expenses: PCORI Excise Tax

  total $1,278,882

• 24c · Other expenses: TeamCare Provider Network Fees

  total $99,043,195

• 24e · All other expenses

  total $15,349

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $78,498 · end of year $948,039

• 2 · Savings and temporary cash investments

  beginning of year $197,286,329 · end of year $196,673,978

• 4 · Accounts receivable

  beginning of year $640,042,185 · end of year $684,716,429

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,537,599 · end of year $2,940,464

• 10a · Land, buildings and equipment: cost or other basis

  $86,632,906

• 10b · Land, buildings and equipment: accumulated depreciation

  $25,513,380

• 10c · Land, buildings and equipment, net

  beginning of year $61,935,296 · end of year $61,119,526

• 11 · Investments: publicly traded securities

  beginning of year $9,830,609,169 · end of year $11,450,977,182

• 15 · Other assets

  beginning of year $1,322,931,531 · end of year $1,799,421,643

• 17 · Accounts payable and accrued expenses

  beginning of year $30,472,484 · end of year $26,649,807

• 25 · Other liabilities

  beginning of year $2,088,681,167 · end of year $2,516,138,974

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $9,936,266,956 · end of year $11,654,008,480

The filer's explanations (Part III)

Schedule J, Part I, Line 1a

Trustees may receive first-class travel if the Trustee's health, medical or physical condition or similar circumstance requires him or her to travel by first-class or business class on flights of any duration, the Trustee may be reimbursed for the cost of first-class or business class travel. First-class travel only occurred one time in 2023 due to a Trustee's flight being changed to a day earlier which saved the Fund an extra night of hotel stay. The airline on which he was booked had no tickets left other than the first-class ticket. Under these circumstances, and pursuant to the Fund's Expense Policy, the Executive Director approved this travel due to the extenuating circumstances. The travel was not treated as taxable compensation.