B C And T Local 334 Retiree Health Plan Insurance Trust Nissen Div
- Assets
- $1.2m
- Revenue
- $84.8k
- Investments
- $225.2k
- Employees
- 0
- Location
- Portland, ME
- Founding
- 12/2002
- Data as of
- 05/2022
- EIN
- 01-6123853
Organization Overview
B C And T Local 334 Retiree Health Plan Insurance Trust Nissen Div is located in Portland, ME. The organization was established in 2002. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. B C And T Local 334 Retiree Health Plan Insurance Trust Nissen Div is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 05/2022, B C And T Local 334 Retiree Health Plan Insurance Trust Nissen Div generated $84.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (21.4%) each year. All expenses for the organization totaled $107.4k during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (28.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEDICAL BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEDICAL BENEFITS FOR ELIGIBLE EMPLOYEES RETIRING UNDER THE BAKERY & CONFECTIONERY UNION & INDUSTRY INTERNATIONAL PENSION FUND, OR ANY COLLECTIVE BARGAINING AGREEMENTS PROVIDING SUCH COVERAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Jordan Trustee | Trustee | 10 | $3,500 |
Jim Anderschat Trustee | Trustee | 7 | $2,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $9,225 |
| Investment income | $13,859 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $61,755 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $84,839 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $55,937 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $456 |
| Fees for services: Management | $5,180 |
| Fees for services: Legal | $5,630 |
| Fees for services: Accounting | $4,195 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,474 |
| Fees for services: Other | $11,009 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,494 |
| All other expenses | $0 |
| Total functional expenses | $107,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $90,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $850,804 |
| Investments—other securities | $225,165 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,166,847 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $424 |
| Total liabilities | $424 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,166,423 |
| Total liabilities and net assets/fund balances | $1,166,847 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maine Financial Institutions Employee Ben Tr Westbrook, ME | $15,345,410 | $31,217,132 |
Awane Ins Tr Peterborough, NH | $16,348,379 | $19,422,061 |
New Hampshire Automobile Dealers Association Inc Health Insur Trust Bow, NH | $206,922 | $11,743,692 |
New Hampshire Motor Transport Assoc- Employee Benefit Trust Concord, NH | $855,526 | $9,821,627 |
Me Credit Union League Ins Tr Westbrook, ME | $2,599,679 | $6,458,602 |
Maine Oil Dealers Association Insurance Trust Brunswick, ME | $2,556,150 | $3,628,585 |
Unitil Non-Union Voluntary Employee Benefit Trust Hampton, NH | $9,647,842 | $2,389,254 |
Unitil Union Voluntary Employee Benefit Trust Hampton, NH | $12,682,946 | $7,786,941 |
Roman Catholic Diocese Of Portland Diocesan Priests Medical Benefits Portland, ME | $5,929,831 | $1,181,943 |
Exeter Health Resources Inc Short Term Disability Tr Exeter, NH | $495,980 | $968,968 |
Allied Government Solutions Health And Welfare Plan & Tr Dover, NH | $164,376 | $675,581 |
Ila Local 861 - Employer Health & Portland, ME | $55,268 | $277,416 |