Hawaii State Teachers Association, Voluntary Employees Beneficiary Tr in Pearl City, Hawaii (HI)

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Hawaii State Teachers Association, Voluntary Employees Beneficiary Tr
Employer Identification Number (EIN)237296050
Name of OrganizationHawaii State Teachers Association
Secondary NameVoluntary Employees Beneficiary Tr
Address1245 Kuala St Ste 202, Pearl City, HI 96782-3900
ActivitiesSick, accident, death, or similar benefits
SubsectionLabor Organization
Ruling Date11/1987
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period08/2010
Assets$10,000,000 to $49,999,999
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$31,775,460
Amount of Income$130,040,683
Form 990 Revenue Amount$104,796,457
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Voluntary Employees Beneficiary Associations (Government)


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Amount of income in 2010: $130,040,683
This organization: 

 $130,040,683
Other organizations performing similar types of work: 

 $3,590,480

Assets in 2010: $31,775,460
This organization: 

 $31,775,460
Other organizations performing similar types of work: 

 $5,449,713

Expenses in 2007: $97,507,429
This organization: 

 $97,507,429
Other organizations performing similar types of work: 

 $1,529,911

Income to expenses ratio in 2007: 1.0
This organization: 

 1.0
Other organizations performing similar types of work: 

 1.1

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$47,563,351$50,006,867$44,357,931$5,279,909$4,703,284$40,446,278$86,598,650$92,723,942
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$46,631,813$50,223,598$44,245,955$3,535,722$3,226,221$38,745,015$83,368,439$90,958,397
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$500,095$284,962$0$0$0$0$0$0
Dividends and interest from securities$617,550$422,329$677,481$794,287$804,060$821,038$1,239,380$1,123,916
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-196,087$-925,522$-601,285$154,309$627,064$627,866$1,274,604$-218,273
Gross amount from sales of assets other than inventory$24,181,457$25,014,849$12,506,315$10,580,478$627,064$47,930,689$33,009,069$28,201,322
Less: cost or other basis and sales expenses$24,377,544$25,940,371$13,107,600$10,426,169$0$47,302,823$31,734,465$28,419,595
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$9,980$1,500$35,780$795,591$45,939$252,359$716,227$859,902
Total expenses$45,398,287$49,204,903$45,430,942$3,814,127$4,057,202$34,199,903$81,874,126$97,507,429
Program services$0$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$19,866,164$20,338,098$20,265,020$22,534,320$23,613,057$29,967,239$35,213,248$29,971,148
Excess or (deficit) for the year$2,165,064$801,964$-1,073,011$1,465,782$646,082$6,246,375$4,724,524$-4,783,487
Net assets or fund balances at beginning of year$21,002,369$19,866,164$20,338,098$20,265,020$22,534,320$23,613,057$29,967,239$35,213,248
Other changes in net assets or fund balances$-3,301,269$-330,030$999,933$803,518$432,655$107,807$521,485$-458,613
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$97,507,429$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$92,532,631
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$101,080$0$0$0
Legal fees$17,770$0$0$0
Supplies$14,507$0$0$0
Telephone$0$0$0$0
Postage and shipping$38,878$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$7,227$0$0$0
Travel$1,870$0$0$0
Conferences, conventions, and meetings$28,607$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$4,578$0$0$0
Other expenses not covered above$4,760,281$0$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$29,798,274$27,594,424$23,962,658$23,038,299$25,332,755$31,833,185$41,599,020$33,522,486
Cash - non-interest-bearing$0$0$0$0$0$0$0$1,071
Savings and temporary cash investments$10,158,553$14,223,370$5,494,966$2,067,864$483,944$5,122,633$10,670,586$6,094,326
Accounts receivable less allowance for doubtful accounts$2,206,406$906,101$1,673,595$1,458,580$1,206,051$3,020,940$4,281,127$3,958,589
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$4,340$4,358$6,390$7,243$7,218$7,924$7,581$7,264
Investments - publicly-traded securities$0$0
Investments - other securities$16,739,261$12,177,827$16,533,975$19,246,399$23,625,134$23,395,770$26,164,504$23,152,652
Investments - land, buildings, and equipment less accumulated depreciation$20,214$10,678$7,986$3,430$10,408$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$11,682$11,388$8,232
Other assets, including program-related investments$669,500$272,090$245,746$254,783$0$274,236$463,834$300,352
Total liabilities$9,932,110$7,256,326$3,697,638$503,979$1,719,698$1,865,946$6,385,772$3,551,338
Accounts payable and accrued expenses$9,932,110$7,256,326$3,697,638$503,979$1,719,698$1,865,946$6,385,772$3,551,338
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0$0$0
Total liabilities and net assets/fund balances$29,798,274$27,594,424$23,962,658$23,038,299$25,332,755$31,833,185$41,599,020$33,522,486
Total net assets or fund balances$19,866,164$20,338,098$20,265,020$22,534,320$23,613,057$29,967,239$35,213,248$29,971,148
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$47,563,351$50,006,867$44,357,931$5,279,909$4,703,284$40,446,278$86,598,650$92,723,942
Total revenue, gains, and other support per audited financial statements$45,607,547$49,596,938$44,770,865$6,083,427$5,019,295$40,106,360$86,958,593$92,120,019
Other expenses$-1,955,804$-409,929$412,934$803,518$432,655$-206,776$521,485$-458,613
Net unrealized gains on investments$-1,955,804$-409,929$412,934$803,518$432,655$-206,776$521,485$-458,613
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$116,644$133,142$161,542$145,310
Investment expenses$0$0$0$0$116,644$133,142$161,542$145,310
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$45,398,287$49,204,903$45,430,942$3,814,127$4,057,202$34,199,903$81,874,126$97,507,429
Total expenses and losses per audited financial statements$48,699,556$49,204,903$45,430,943$3,814,127$3,940,558$34,066,761$81,712,584$97,362,119
Other revenue$3,301,269$0$1$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$1,345,465$0$0$0$0$0$0$0
Losses$1,955,804$0$0$0$0$0$0$0
Other$0$0$1$0$0$0$0$0
Other expenses$0$0$0$0$116,644$133,142$161,542$145,310
Investment expenses$0$0$0$0$116,644$133,142$161,542$145,310
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings9
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$905,643$91,818,299
Program service revenue
Program service revenue 1000000$000$0$32,683,445
Program service revenue 2000000$000$0$57,588,288
Program service revenue 3000000$000$0$656,014
Program service revenue 4000000$000$0$30,650
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,123,916$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-218,273$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$859,902
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Government Employees Health Association IncPO BOX 1096, Independence, MO 64051-0596MO1947-12$2,320,789,627
2Michigan Education Special Services Association1475 Kendale Blvd, East Lansing, MI 48823-2011MI1962-08$1,289,230,867
3Wisconsin Education Association Insurance Trust45 Nob Hill Rd, Madison, WI 53713-2195WI1971-03$1,100,228,848
4Pennsylvania Employees Benefit, Attn Financial Manager150 South 43rd St, Harrisburg, PA 17111-5708PA1989-10$835,518,464
5American Postal Workers Union, Afl Cio Health PlanApwu Health Plan Aflcio, Glen Burnie, MD 21061MD1975-01$749,657,723
6Californias Valued Trust520 E Herndon Ave, Fresno, CA 93720-2907CA1988-03$571,189,875
7United Federation Of Teachers Welfare Fund, Uft Welfare Fund52 Broadway, New York, NY 10004-1603NY1966-03$397,161,701
8Southern California Schools Voluntary Employees Benefits Assoc8885 Rio San Diego Dr Ste 300, San Diego, CA 92108-1627CA1993-09$355,870,538
9Board Of Education Of Montgomery County Employee Benefit Trust Fund850 Hungerford Drive- Room 156, Rockville, MD 20850-1718MD1964-08$338,650,337
10Wisconsin Counties Association Group Health Tr, Mark Oconnell Ttee22 E Mifflin St Ste 900, Madison, WI 53703-4247WI1991-10$317,717,746
11Special Agents Mutual Benefit11301 Old Georgetown Rd, Rockville, MD 20852-2860MD1950-01$303,132,583
12Association Of Washington Cities Employees Benefit Trust2323 Eastlake Ave E, Seattle, WA 98102-3305WA1988-11$300,108,399
13Allegheny County Schools Health Insurance Consortium625 Liberty Avenue 10th Floor, Pittsburgh, PA 15222-3110PA1990-03$230,693,893
14Ccpoa Insurance Division Trust2515 Venture Oaks Way Ste 200, Sacramento, CA 95833-4235CA1986-02$202,582,078
15Los Angeles Police Relief Association Inc600 N Grand Ave, Los Angeles, CA 90012-2212CA1980-09$196,773,493
16Dutchess Educational Health Insurance Consortium5 Boces Rd, Poughkeepsie, NY 12601-6565NY1992-01$157,518,369
17Tml Intergovernmental Employee Benefits Pool, Moreno Cecilia Ttee1821 Rutherford Ln Ste 300, Austin, TX 78754-5164TX1999-11$155,799,716
18Cahp Health Benefits Trust2030 V St, Sacramento, CA 95818-1730CA1982-02$152,875,089
19Teachers Health Trust2950 E Rochelle Ave, Las Vegas, NV 89121-5301NV$150,056,917
20Hawaii State Teachers Association, Voluntary Employees Beneficiary Tr1245 Kuala St Ste 202, Pearl City, HI 96782-3900HI1987-11$130,040,683
21Law Enforcement Health Benefits Inc2233 Spring Garden St, Philadelphia, PA 19130-3511PA1988-04$126,552,694
22Lincoln Benefit TrustPO BOX 70, New Oxford, PA 17350-0070PA1980-01$121,139,576
23Transit Employees Health And Welfare Plan2701 Whitney Pl, Forestville, MD 20747-3457MD1956-12$120,260,852
24Trust For Retiree Medical Dental And Life Insurance Plan Of Army, And Air Force Exchange Service3911 S Walton Walker Blvd, Dallas, TX 75236-1509TX1993-12$116,151,457
25Employees Of Municipal & Other Pub- Lic Employers Of Me Health Ins Tr60 Community Dr, Augusta, ME 04330-8008ME1982-08$109,654,429
26Active Medical & Dental Plans Of Army & Air Force Exchng Ser Tr3911 S Walton Walker Blvd, Dallas, TX 75236-1509TX1996-06$109,542,066
27Philadelphia Lodge No 5 Fraternal Order Of Police Health Benefits2233 Spring Garden St, Philadelphia, PA 19130-3511PA1994-11$104,895,451
28Armed Forces Benefit Association909 N Washington St, Alexandria, VA 22314-5510VA1948-12$102,057,974
29Egyptian Area Schools Employee Benefit Association Trust1109 Hartman Ln Ste 202, Shiloh, IL 62221-7916IL1984-05$96,520,881
30United Public Workers Mutual Aid Fund Trust, Local 6461426 N School St, Honolulu, HI 96817-1914HI1985-03$245,912
Number of organizations performing similar types of work
Alaska2
Arkansas1
Arizona1
California35
Colorado2
Connecticut1
District of Columbia3
Florida7
Hawaii2
Illinois5
Indiana2
Kansas8
Massachusetts8
Maryland5
Maine5
Michigan3
Minnesota26
Missouri5
Mississippi1
Montana1
North Carolina2
North Dakota2
Nebraska1
New Hampshire2
New Jersey23
Nevada5
New York36
Ohio8
Oregon4
Pennsylvania26
Rhode Island3
Texas6
Utah1
Virginia4
Washington5
Wisconsin6
Wyoming1
Total258
All affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
CentralHawaii State Teachers Association1200 Ala Kapuna St, Honolulu, HI 96819-4651HI1973-07$7,882,322
SubordinateHawaii State Teachers Association, Voluntary Employees Beneficiary Tr1245 Kuala St Ste 202, Pearl City, HI 96782-3900HI1987-11$130,040,683
SubordinateHawaii State Teachers Association, Retired1200 Ala Kapuna St, Honolulu, HI 96819-4651HI1973-07$254,533
SubordinateHawaii State Teachers Association, Honolulu1200 Ala Kapuna St, Honolulu, HI 96819-4651HI1973-07$42,712
SubordinateHawaii State Teachers Association, Leeward Oahu1200 Ala Kapuna St, Honolulu, HI 96819-4651HI1973-07$32,288
Number of affiliated organizations
Hawaii5
Total5

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