PUGET SOUND ELECTRICAL WORKERS HEALTHCARE TRUST FUND

EIN: 916029124

SEATTLE, WA

Total Revenue
$138,058,976
Total Expenses
$142,164,456
Total Assets
$54,080,888
Net Assets
$-6,496,468
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1954
Legal Domicile
WA
Principal Officer
GILLIAN BURLINGHAM
Phone
2064417574
Tax Period
2024-08-01 to 2025-07-31

PUGET SOUND ELECTRICAL WORKERS HEALTHCARE TRUST FUND, founded in 1954, is a major nonprofit that reported $138.1M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

PROVIDED HEALTH AND VACATION BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS

Program Service Accomplishments

Program 1

PROVIDED HEALTH AND VACATION BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS AS SPECIFIED BY THE PLAN.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $134,478,693
Investment Income $3,512,634
Other Revenue $67,649
TOTAL REVENUE $138,058,976

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $9,366,344
TOTAL EXPENSES $142,164,456

Year-over-Year Comparison

2024 2023 Change
Revenue $138,058,976 $123,329,057 +0.1%
Expenses $142,164,456 $136,364,520 +0.0%
Net Income $-4,105,480 $-13,035,463 -0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
N/A
Employees
32
Volunteers
9

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JANET LEWIS END 01012025 CHAIRMAN 1.00
Officer Director
$0 $0 $0
SEAN BAGSBY TRUSTEE 1.00
Director
$0 $0 $0
GILLIAN BURLINGHAM START 08012024 CHAIRMAN 1.00
Officer Director
$0 $0 $0
BARRY SHERMAN END 01012025 SECRETARY 1.00
Officer Director
$0 $0 $0
MICHAEL BROBERG END 08012024 TRUSTEE 1.00
Director
$0 $0 $0
MARV NELSON TRUSTEE 1.00
Director
$0 $0 $0
JAMESON SCHWETZ START 01012025 SECRETARY 1.00
Officer Director
$0 $0 $0
LISA KENYON START 08012024 TRUSTEE 1.00
Director
$0 $0 $0
NICOLE GRANT START 08012024 TRUSTEE 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $138,058,976 $142,164,456 $54,080,888 $-4,105,480
2024 $123,329,057 $136,364,520 $64,609,122 $-13,035,463
2023 $128,577,306 $143,671,960 $82,017,887 $-15,094,654
2022 $128,060,108 $122,564,902 $87,862,147 $5,495,206
2021 $127,353,041 $131,979,609 $90,774,829 $-4,626,568
2020 $116,534,101 $115,099,038 $83,160,928 $1,435,063
2019 $117,474,947 $118,152,385 $77,338,717 $-677,438
2018 $105,993,921 $108,023,113 $69,424,310 $-2,029,192
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