Ironworkers District Council Of New England Health & Welfare Fund
- Assets
- $83.7m
- Revenue
- $36.9m
- Investments
- $0.0
- Employees
- 36
- Location
- Dorchester, MA
- Founding
- 07/1987
- Data as of
- 12/2021
- EIN
- 04-2163872
Organization Overview
Ironworkers District Council Of New England Health & Welfare Fund is located in Dorchester, MA. The organization was established in 1987. 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. As of 12/2021, Ironworkers District Council Of New England Health & Welfare Fund employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ironworkers District Council Of New England Health & Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Ironworkers District Council Of New England Health & Welfare Fund generated $36.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $34.7m during the year ending 12/2021. While expenses have increased by 6.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEDICAL BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL BENEFITS TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Veronica Dyer Fund Administrator | 14 | $71,533 | |
David Langlais Trustee | OfficerTrustee | 10 | $0 |
David Powell Trustee | OfficerTrustee | 10 | $0 |
Michael Hess Trustee | OfficerTrustee | 10 | $0 |
Russell Anderson Trustee | OfficerTrustee | 10 | $0 |
Shawn Nehiley Trustee | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tufts Health Plancarelink Supplemental Provider Services | 12/30/21 | $1,036,306 |
Boston Trust Company Investment Custodial | 12/30/21 | $253,453 |
Zenith American Solutions Claims Adminstrative | 12/30/21 | $236,122 |
Modern Assistance Programs Participant Counseling | 12/30/21 | $145,000 |
Segal Company Actuarial | 12/30/21 | $143,005 |
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 | $30,274,522 |
| Investment income | $1,165,641 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,415,316 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,855,479 |
| 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 | $30,968,216 |
| Compensation of current officers, directors, key employees. | $71,533 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $581,712 |
| Pension plan accruals and contributions | $203,696 |
| Other employee benefits | $95,828 |
| Payroll taxes | $12,002 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $106,454 |
| Fees for services: Accounting | $56,332 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $283,822 |
| Fees for services: Other | $143,005 |
| Advertising and promotion | $0 |
| Office expenses | $30,419 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,673 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,356 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,258 |
| Insurance | $15,802 |
| All other expenses | $181,236 |
| Total functional expenses | $34,730,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $343,642 |
| Savings and temporary cash investments | $2,112,363 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,172,665 |
| 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 | $133,691 |
| Investments—publicly traded securities | $78,302,624 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,668,553 |
| Total assets | $83,733,538 |
| Accounts payable and accrued expenses | $185,081 |
| 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 | $4,924,000 |
| Total liabilities | $5,109,081 |
| 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 | $78,624,457 |
| Total liabilities and net assets/fund balances | $83,733,538 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ironworkers District Council Of New England Health & Welfare Fund has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Tufts Associated Health Maintenance Organization Inc Canton, MA PURPOSE: Annual Scholarships | $10,000 |