Overview
What is Construction Industry Welfare Fund?
The Construction Industry Welfare Fund is a nonprofit organization located at 7440 Woodland Drive, Indianapolis, IN 46278. Its primary mission is to provide health and welfare benefits to eligible union members. As of October 31, 2021, there were no eligible participants. The fund also manages reinsurance premiums, with a total of 19,070 paid during the same period. The fund's efforts significantly decreased the change in estimated liabilities related to claims by 2,820,080. The Construction Industry Welfare Fund is committed to supporting its union members with essential health and welfare benefits, demonstrating a dedication to the well-being of its community.
Is Construction Industry Welfare Fund legitimate?
Construction Industry Welfare Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Construction Industry Welfare Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $142,507
For more financial information, click here
What is the mission statement of Construction Industry Welfare Fund?
The Construction Industry Welfare Fund is committed to providing health and welfare benefits to eligible union members. Their primary objective is to ensure the well-being of these members by offering necessary benefits. As of October 31, 2021, the fund had paid health and welfare benefits to 670,105 participants, while their reinsurance premiums amounted to 19,070. Notably, the change in estimated liabilities related to claims decreased by a substantial 2,820,080. At this time, there were no eligible participants left in the fund.
Who is the CEO of Construction Industry Welfare Fund?
James B Meek is the Trustee of Construction Industry Welfare Fund.
What is the revenue of Construction Industry Welfare Fund?
Construction Industry Welfare Fund's revenue in 2021 was $3,051,481.
Who are the executives of Construction Industry Welfare Fund and what are their salaries?
The average compensation at Construction Industry Welfare Fund during 2021 was $71,254. There are 2 employees at Construction Industry Welfare Fund.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Construction Industry Welfare Fund?
Construction Industry Welfare Fund's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Construction Industry Welfare Fund
The Construction Industry Welfare Fund, as a nonprofit organization, is committed to providing health and welfare benefits to eligible union members. Their mission is centered around extending these vital benefits to the eligible participants, totaling 670,105 individuals. The fund's activities are geared towards ensuring the well-being of its union members, demonstrating a strong dedication to their beneficiaries. The organization also manages reinsurance premiums, a key aspect of its operations, totaling 19,070. The Construction Industry Welfare Fund's financials also reveal a decrease in estimated liabilities related to claims, amounting to 2,820,080, indicating its effective management of benefits and claims. At October 31, 2021, there were no new eligible participants reported in their records.
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Impact
October, 2024
The Construction Industry Welfare Fund provides essential health and welfare benefits to eligible union members, significantly enhancing their quality of life. Through its efforts, the fund has paid health and welfare benefits to over 670,000 participants, demonstrating a substantial commitment to supporting the workforce in the construction sector.
A notable aspect of its financial management includes the reinsurance premiums, which totaled approximately $19,070. Furthermore, the fund has effectively managed its liabilities, with a marked decrease of $2,820,080 related to claims. This indicates a proactive approach in ensuring financial sustainability while delivering vital benefits.
While there were no eligible participants recorded as of October 31, 2021, the fund's focus on mutual benefit continues to play a pivotal role in the welfare of union members in the construction industry. Overall, the impact of the Construction Industry Welfare Fund is reflected in the provision of comprehensive support for union members, fostering a healthier and more secure work environment.
This information is meant to be a general summary of Construction Industry Welfare Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Investment Income: $85,369
- Program Service Revenue: $2,966,112
- Gross Receipts: $5,558,632
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BENEFITS PAID FOR MEMBERS
Revenue
$2,130,906
EMPLOYERS CONTRIBUTIONS
Revenue
$827,300
PARTICIPANT CONTRIBUTIONS
Revenue
$7,906
Organization Details
Founding Year
1956
Phone
(217) 352-5269Principal Officer
James B Meek
Main Address
7440 WOODLAND DRIVE, INDIANAPOLIS, IN, 46278
NTEE Category
Code: Y40 - Mutual benefit
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