Teamsters Union Local 25 Health Services & Insurance Plan
- Assets
- $308.8m
- Revenue
- $206.4m
- Investments
- $175.0m
- Employees
- 74
- Location
- Charlestown, MA
- Founding
- 04/1957
- Data as of
- 08/2022
- EIN
- 04-2226511
Organization Overview
Teamsters Union Local 25 Health Services & Insurance Plan is located in Charlestown, MA. The organization was established in 1957. 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 08/2022, Teamsters Union Local 25 Health Services & Insurance Plan employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Union Local 25 Health Services & Insurance Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 08/2022, Teamsters Union Local 25 Health Services & Insurance Plan generated $206.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $156.7m during the year ending 08/2022. While expenses have increased by 2.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PLAN PROVIDES MEDICAL, HOSPITALIZATION, DENTAL, VISION, HEARING, LIFE INSURANCE, COUNSELING, WEEKLY DISABILITY, AND PRESCRIPTION DRUG BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS. THE PLAN ALSO PROVIDES A PROGRAM OF BENEFITS FOR ELIGIBLE RETIREES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLAN PROVIDES MEDICAL, HOSPITAL, DENTAL, PRESCRIPTION, DISABILITY, MENTAL HEALTH, AUDIOLOGY, WELLNESS, AND LIFE AND ACCIDENTAL DEATH INSURANCE BENEFITS TO ELIGIBLE MEMBERS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol A Blanchard DDS Executive Director | Officer | 40 | $270,760 |
Laurie Murphy Dental Manager | 40 | $160,984 | |
Mark C Antidormi Pharmacy Director | 40 | $155,811 | |
Anissa Derrouche Dental Manager | 40 | $148,510 | |
Joanne Schultz Dentist | 40 | $144,806 | |
Azita Negahban Dentist | 40 | $143,091 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Express Scriptsmedco Claims Administration | 8/30/22 | $181,207 |
Bluecross Blueshield Of Massachusetts Claims Administration | 8/30/22 | $242,429 |
Bmo Harris Bank Custodial And Investment Mgt | 8/30/22 | $175,450 |
Emerald Green Building Services Llc Janitorial | 8/30/22 | $180,944 |
Feinberg Dumont & Brennan Attorneys | 8/30/22 | $115,855 |
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 | $180,677,066 |
| Investment income | $4,899,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,548,584 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $206,440,171 |
| 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 | $145,603,380 |
| Compensation of current officers, directors, key employees. | $331,184 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,814,025 |
| Pension plan accruals and contributions | $1,377,686 |
| Other employee benefits | $1,562,855 |
| Payroll taxes | $453,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $128,104 |
| Fees for services: Accounting | $99,913 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $511,517 |
| Fees for services: Other | $8,346 |
| Advertising and promotion | $0 |
| Office expenses | $206,528 |
| Information technology | $226,070 |
| Royalties | $0 |
| Occupancy | $809,708 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,204 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $192,324 |
| Insurance | $282,293 |
| All other expenses | $41,650 |
| Total functional expenses | $156,655,133 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,695 |
| Savings and temporary cash investments | $28,669,860 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,260,777 |
| 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 | $229,293 |
| Net Land, buildings, and equipment | $1,285,734 |
| Investments—publicly traded securities | $86,207,945 |
| Investments—other securities | $174,954,428 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,090,325 |
| Total assets | $308,767,057 |
| Accounts payable and accrued expenses | $522,163 |
| 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 | $296,564 |
| Total liabilities | $818,727 |
| 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 | $307,948,330 |
| Total liabilities and net assets/fund balances | $308,767,057 |