Wells Fargo Financial Health Trust in Des Moines, Iowa (IA)

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Wells Fargo Financial Health Trust
Employer Identification Number (EIN)421107015
Name of OrganizationWells Fargo Financial Health Trust
AddressDes Moines, IA 50309
Tax Period2005
Asset Amount$61,962,425
Amount of Income$62,491,768
Form 990 Revenue Amount$62,491,768
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Voluntary Employees Beneficiary Associations (Non-Government)


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Amount of income in 2005: $62,491,768
This organization: 

 $62,491,768
Other organizations performing similar types of work: 

 $15,763,180

Assets in 2005: $61,962,425
Wells Fargo Financial Health Trust: 

 $61,962,425
Other organizations performing similar types of work: 

 $11,878,897

Expenses in 2005: $59,887,647
This organization: 

 $59,887,647
Other organizations performing similar types of work: 

 $9,981,586

Income to expenses ratio in 2005: 1.0
Wells Fargo Financial Health Trust: 

 1.0
Other organizations performing similar types of work: 

 1.2

Financial snapshot ($)

Revenue for 2005

Assets at end of 2005

Income-Producing Activities for 2005

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002200320042005
Total revenue$30,812,287$36,607,226$44,022,327$44,760,031$59,935,771$62,491,768
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0
Contributions to donor advised funds
Direct public support$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0
Program service revenue including government fees and contracts$29,501,721$35,393,808$42,669,577$43,356,842$58,323,801$60,404,292
Membership dues and assessments$0$0$0$0$0$0
Interest on savings and temporary cash investments$324,685$316,251$198,284$118,991$86,571$216,124
Dividends and interest from securities$985,881$954,211$1,208,604$1,335,819$1,553,037$1,830,041
Net rental income or (loss)$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$-57,044$-54,138$-51,621$-27,638$41,311
Gross amount from sales of assets other than inventory$0$2,020,000$1,865,000$42,213,381$57,917,169$73,159,028
Less: cost or other basis and sales expenses$0$2,077,044$1,919,138$42,265,002$57,944,807$73,117,717
Net income or (loss) from special events and activities$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Total expenses$24,233,347$31,214,284$35,788,109$37,663,909$51,842,328$59,887,647
Program services$0$0$0$0$0$0
Management and general$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$31,720,759$37,413,383$46,548,571$53,396,466$60,475,801$61,962,425
Excess or (deficit) for the year$6,578,940$5,392,942$8,234,218$7,096,122$8,093,443$2,604,121
Net assets or fund balances at beginning of year$24,677,009$31,720,759$37,413,383$46,548,571$53,396,466$60,475,801
Other changes in net assets or fund balances$464,810$299,682$900,970$-248,227$-1,014,108$-1,117,497
Statement of Functional Expenses (for 2005)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$59,887,647$0$0$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$56,934,986
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.
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)
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$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$2,952,661$0$0$0
Balance Sheets
200020012002200320042005
Total assets$31,975,228$37,952,711$47,546,112$54,365,964$61,318,483$62,746,852
Cash - non-interest-bearing$0$746,990$3,026,728$4,008,916$4,668,021$2,335,840
Savings and temporary cash investments$11,354,162$12,929,263$16,360,655$16,282,575$13,111,135$9,683,374
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$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)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0
Investments - publicly-traded securities
Investments - other securities$20,232,122$22,468,284$26,926,510$33,252,468$40,932,165$49,661,453
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Other assets, including program-related investments$388,944$1,808,174$1,232,219$822,005$2,607,162$1,066,185
Total liabilities$254,469$539,328$997,541$969,498$842,682$784,427
Accounts payable and accrued expenses$254,469$539,328$997,541$969,498$842,682$784,427
Grants payable$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0
Total liabilities and net assets/fund balances$31,975,228$37,952,711$47,546,112$54,365,964$61,318,483$62,746,852
Total net assets or fund balances$31,720,759$37,413,383$46,548,571$53,396,466$60,475,801$61,962,425
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002200320042005
Total revenue$30,812,287$36,607,226$44,022,327$44,760,031$59,935,771$62,491,768
Total revenue, gains, and other support per audited financial statements$31,277,097$36,906,908$44,923,297$44,511,804$58,921,663$61,374,271
Other expenses$464,810$299,682$900,970$-248,227$-1,014,108$-1,117,497
Net unrealized gains on investments$464,810$299,682$900,970$-248,227$-1,014,108$-1,117,497
Donated services and use of facilities$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002200320042005
Total expenses$24,233,347$31,214,284$35,788,109$37,663,909$51,842,328$59,887,647
Total expenses and losses per audited financial statements$24,233,347$31,214,284$35,788,109$38,058,261$51,588,349$59,942,461
Other revenue$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other expenses$0$0$0$-394,352$253,979$-54,814
Investment expenses$0$0$0$0$0$0
Other$0$0$0$-394,352$253,979$-54,814
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
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?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
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?
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?
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)?
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?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2005)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$62,491,768
Program service revenue
Program service revenue 1000000$000$0$60,404,292
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
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$216,124
Dividends and interest from securities000000$000$0$1,830,041
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$000$0$41,311
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$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2005)
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 2005)
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 2005)
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?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
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
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
199920002001200220032004
Total$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$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
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
Other income$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2005)
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
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2Iowa Bankers Benefit PlanPO BOX 6210, Johnston, IA 50131-6210IA1979-04$119,368,655
3Aegon Usa Employee Group TrustCedar Rapids, IA 52499IA$110,358,055
4Principal Trust For Health Benefits For Employees, Narber G R Ttee711 High St, Des Moines, IA 50392-0001IA1992-03$104,829,750
5Principal Trust For Health Benefits For EmployeesDes Moines, IA 50392IA$77,633,153
6Wells Fargo Financial Health TrustDes Moines, IA 50309IA$62,491,768
7Teamsters Managed Health Care Trust, Blasquez Ray TteePO BOX 757, Pleasanton, CA 94566-0075CA1991-10$58,641,034
8United Food & Commercial Workers Local 1000 & Kroger Dallas Health2010 Nw 150th Ave Ste 100, Pembroke Pnes, FL 33028-2888FL1998-06$42,032,340
9Iowa Laborers District Council Health And Welfare Plan150 1st Ave Ne Ste 450, Cedar Rapids, IA 52401-1115IA1977-08$38,722,676
10Iada Insurance Trust1111 Office Park Rd, Wdm, IA 50265-2507IA1977-01$29,966,586
11Ironworkers District Council Of New England Health & Welfare Fund1647 Ne 55th Ave, Des Moines, IA 50313-1600IA1987-07$29,517,113
12The Sealy Flexible Benefit Plan1 Office Parkway Rd, Trinity, NC 27370-9449NC1979-09$29,284,783
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14Principal Tr Health Benefits For Agents Gen Managers & MgtDes Moines, IA 50392IA$26,534,242
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16Ufcw & Employers Health & Welfare T Rust Fund3100 Broadway, Kansas City, MO 64111-2658MO1960-12$19,309,932
17Usw District 10 Local 286 Welfare Trust Fund410 N 8th St, Philadelphia, PA 19123-3903PA1968-02$16,102,246
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Number of organizations performing similar types of work
Alaska4
Alabama13
Arkansas6
Arizona19
California214
Colorado19
Connecticut44
District of Columbia23
Delaware6
Florida40
Georgia41
Hawaii21
Iowa25
Idaho5
Illinois226
Indiana45
Kansas18
Kentucky22
Louisiana10
Massachusetts79
Maryland58
Maine4
Michigan100
Minnesota79
Missouri75
Mississippi6
Montana7
North Carolina46
North Dakota6
Nebraska12
New Hampshire5
New Jersey130
New Mexico3
Nevada17
New York321
Ohio133
Oklahoma13
Oregon39
Pennsylvania198
Rhode Island19
South Carolina6
South Dakota2
Tennessee45
Texas112
Utah16
Virginia31
Vermont1
Washington66
Wisconsin62
West Virginia13
Wyoming1
International1
Total2,507

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