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Nonprofiteer
← TEAMSTERS 261 & EMPLOYERS WELFARE FUND

Form 990 for tax year 2023

Filed by TEAMSTERS 261 & EMPLOYERS WELFARE FUND.

Totals

Total revenue
$38,605,231
Total expenses
$39,868,091
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$36,119,211
Investment income
-$9,857
Other revenue
$2,495,877
Total assets, end of year
$19,165,078
Total liabilities, end of year
$1,662,835
Net assets or fund balances, end of year
$17,502,243
Program services expenses (Part IX)
$39,868,091
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 100.0% 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: CONTRIBUTIONS:EMPLOYERS

    total $35,930,450 · related or exempt $35,930,450

  • 2b · Program service revenue: CONTRIBUTIONS:INDIVIDUAL

    total $188,761 · related or exempt $188,761

  • 3 · Investment income

    total $629,928 · related or exempt $629,928

  • 7a · Gross sales of assets other than inventory

    securities $4,332,262

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

    securities $4,972,047

  • 7c · Gain or loss

    securities -$639,785

  • 7d · Net gain or loss

    total -$639,785 · related or exempt -$639,785

  • 11a · Other revenue: STOP LOSS PROCEEDS

    total $2,495,877 · related or exempt $2,495,877

  • 11e · Other revenue, total

    $2,495,877

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $36,843,698 · program services $36,843,698

  • 7 · Other salaries and wages

    total $114,479 · program services $114,479

  • 8 · Pension plan contributions

    total $38,968 · program services $38,968

  • 9 · Other employee benefits

    total $29,344 · program services $29,344

  • 10 · Payroll taxes

    total $9,126 · program services $9,126

  • 11b · Fees: legal

    total $22,400 · program services $22,400

  • 11c · Fees: accounting

    total $14,716 · program services $14,716

  • 11f · Fees: investment management

    total $86,834 · program services $86,834

  • 11g · Fees: other

    total $72,656 · program services $72,656

  • 12 · Advertising and promotion

    total $90 · program services $90

  • 13 · Office expenses

    total $17,776 · program services $17,776

  • 16 · Occupancy

    total $27,500 · program services $27,500

  • 17 · Travel

    total $40 · program services $40

  • 19 · Conferences, conventions and meetings

    total $247 · program services $247

  • 22 · Depreciation, depletion and amortization

    total $1,401 · program services $1,401

  • 23 · Insurance

    total $25,030 · program services $25,030

  • 24a · Other expenses: MEDICAL CLAIMS ADMINIST

    total $2,548,077 · program services $2,548,077

  • 24b · Other expenses: OTHER TAXES PCORI

    total $14,349 · program services $14,349

  • 24c · Other expenses: ASSOCIATION DUES

    total $1,360 · program services $1,360

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,656,228 · end of year $834,874

  • 2 · Savings and temporary cash investments

    beginning of year $611,065 · end of year $252,853

  • 4 · Accounts receivable

    beginning of year $53,423 · end of year $62,599

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,421 · end of year $17,438

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

    $41,487

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

    $37,309

  • 10c · Land, buildings and equipment, net

    beginning of year $5,579 · end of year $4,178

  • 11 · Investments: publicly traded securities

    beginning of year $18,072,701 · end of year $17,993,136

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,361 · end of year $6,571

  • 19 · Deferred revenue

    beginning of year $1,636,953 · end of year $1,656,264

  • 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 $18,765,103 · end of year $17,502,243

Mission and programs · 2023

Mission

TO PROVIDE MEDICAL AND OTHER HEALTH RELATED BENEFITS TO ELIGIBLE PARTICIPANTS.

  • TO PROVIDE MEDICAL AND OTHER HEALTH RELATED BENEFITS TO ELIGIBLE EMPLOYEES AND RETIREES OF EMPLOYERS WHO ARE PART OF A COLLECTIVE BARGAINING AGREEMENT WITH TEAMSTERS LOCAL UNION #261, AFFILIATED WITH THE INTERNATIONAL BROTHERHOOD OF TEAMSTERS, OR OTHER OTHER LOCAL UNIONS.

As filed on the 2023 return.

Listed in Part VII

  • David Alters

    TRUSTEE

    Total calculated
    $76,380
    From this org
    $0
    From related orgs
    $0
    Other
    $76,380
    Hours/week
    40 + 1 related

  • Michael Leckwart

    TRUSTEE

    Total calculated
    $77,212
    From this org
    $0
    From related orgs
    $0
    Other
    $77,212
    Hours/week
    40 + 1 related

  • George Whippo

    TRUSTEE

    Total calculated
    $73,642
    From this org
    $0
    From related orgs
    $0
    Other
    $73,642
    Hours/week
    40 + 1 related

  • Bryan Dehart

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Will Strimbu

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Will Thomas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0 + 1 related

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.

  • A LIST IS AVAILABLE AND MAINTAINED IN THE FUND OFFICES

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 corporations and trusts

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

  • A LIST IS AVAILABLE AND MAINTAINED IN THE FUND OFFICES

Provenance

Return type
form_990
Tax year
2023
Filed
9 October 2024
IRS schema version
2023v5.1
Source object
202403059349302135

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