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← HAWAII ELECTRICIANS HEALTH & WELFARE FUND

Form 990 for tax year 2023

Filed by HAWAII ELECTRICIANS HEALTH & WELFARE FUND.

Totals

Total revenue
$29,441,928
Total expenses
$30,807,135
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$24,540,617
Investment income
$4,901,311
Other revenue
$0
Total assets, end of year
$100,045,464
Total liabilities, end of year
$425,025
Net assets or fund balances, end of year
$99,620,439
Program services expenses (Part IX)
$29,361,245
Management and general expenses
$1,445,890
Fundraising expenses
$0
Program service expenses (Part III)
$29,361,245

Program services were 95.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: EMPLOYER CONTRIBUTIONS

    total $23,428,976 · related or exempt $23,428,976

  • 2b · Program service revenue: RETIREES CONTRIBUTIONS

    total $961,436 · related or exempt $961,436

  • 2c · Program service revenue: SELF PAY CONTRIBUTIONS

    total $112,839 · related or exempt $112,839

  • 2d · Program service revenue: LIQUIDATED DAMAGES

    total $26,215 · related or exempt $26,215

  • 2e · Program service revenue: OTHER

    total $11,151 · related or exempt $11,151

  • 3 · Investment income

    total $2,025,791 · excluded $2,025,791

  • 7a · Gross sales of assets other than inventory

    securities $95,949,932

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

    securities $93,074,412

  • 7c · Gain or loss

    securities $2,875,520

  • 7d · Net gain or loss

    total $2,875,520 · excluded $2,875,520

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $28,454,641 · program services $28,454,641

  • 11a · Fees: management

    total $906,604 · program services $906,604

  • 11b · Fees: legal

    total $11,100 · management and general $11,100

  • 11c · Fees: accounting

    total $66,869 · management and general $66,869

  • 11f · Fees: investment management

    total $359,726 · management and general $359,726

  • 11g · Fees: other

    total $219,715 · management and general $219,715

  • 13 · Office expenses

    total $27,034 · management and general $27,034

  • 19 · Conferences, conventions and meetings

    total $10,190 · management and general $10,190

  • 23 · Insurance

    total $15,887 · management and general $15,887

  • 24a · Other expenses: HI ELECTRICIANS ADMIN O

    total $719,160 · management and general $719,160

  • 24b · Other expenses: PCORI FEES

    total $7,929 · management and general $7,929

  • 24c · Other expenses: HEALTH FAIR

    total $7,028 · management and general $7,028

  • 24d · Other expenses: BANK FEES

    total $1,252 · management and general $1,252

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $291,462 · end of year $329,217

  • 2 · Savings and temporary cash investments

    beginning of year $10,677,063 · end of year $5,974,555

  • 4 · Accounts receivable

    beginning of year $3,376,338 · end of year $3,492,769

  • 9 · Prepaid expenses and deferred charges

    beginning of year $61,574 · end of year $7,995

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

    $2,209

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

    $2,209

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $49,384,104 · end of year $59,901,497

  • 12 · Investments: other securities

    beginning of year $25,561,324 · end of year $28,844,615

  • 15 · Other assets

    beginning of year $2,807,249 · end of year $1,494,816

  • 17 · Accounts payable and accrued expenses

    beginning of year $295,549 · end of year $219,571

  • 25 · Other liabilities

    beginning of year $744,000 · end of year $205,454

  • 29 · Capital stock, trust principal or current funds

    beginning of year $91,119,565 · end of year $99,620,439

  • 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 $0 · end of year $0

Mission and programs · 2023

Mission

ORGANIZATION IS A COLLECTIVELY BARGAINED MULTIEMPLOYER PLAN THAT PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS ACCORDING TO PLAN RULES AND REGULATIONS.

  • TO PROVIDE SELF INSURED BENEFITS TO ELIGIBLE PARTICIPANTS. MEDICAL $20,171,647; DRUG $3,839,163; DENTAL $2,640,360; VISION $281,227.

    Expenses $26,932,397

  • TO PROVIDE GROUP INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS BY PAYING MONTHLY INSURANCE PREMIUMS TO INSURANCE CARRIERS. HMSA / HUMANA $744,574; PACIFIC GUARDIAN LIFE (TDI) $584,601; PACIFIC GUARDIAN LIFE (LIFE) $70,613; ULLICO (STOP LOSS) $122,456.

    Expenses $1,522,244

  • TO PAY FOR ADMINISTRATIVE FEES ASSOCIATED WITH SELF-INSURED CLAIMS PROCESSING. MEDICAL $660,195; DENTAL $170,718; DRUG $38,714; VISION $36,977.

    Expenses $906,604

As filed on the 2023 return.

Listed in Part VII

  • Damien Kim

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Leyton Torda

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Tracy Hayashi

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Aquino

    UNION TRUSTEE (ALT)

    Total calculated
    $0
    Hours/week
    0.5

  • Douglas Oki

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Jody Hanamoto

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Daryl Suehiro

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Al Itamoto

    EMPLOYER TRUSTEE (ALT)

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • SEE SCHEDULE R ATTACHMENT

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HAWAII ELECTRICANS ADMINISTRATIVE OFFICE

    C · TRUST FUND ADMINISTRATION · HI

  • SEE SCHEDULE R ATTACHMENT

Provenance

Return type
form_990
Tax year
2023
Filed
30 July 2025
IRS schema version
2023v6.0
Source object
202512209349301906

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