Massachusetts Correction Officers Health & Welfare Trust Fund
- Assets
- $7.8m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Manchester, NH
- Founding
- 11/1993
- Data as of
- 03/2022
- EIN
- 04-3147584
Organization Overview
Massachusetts Correction Officers Health & Welfare Trust Fund is located in Manchester, NH. The organization was established in 1993. According to its NTEE Classification (Y44) the organization is classified as: Voluntary Employees Beneficiary Associations 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. Massachusetts Correction Officers Health & Welfare Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 03/2022, Massachusetts Correction Officers Health & Welfare Trust Fund generated $3.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $3.6m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 7 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
TO PROVIDE DENTAL AND VISION BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE DENTAL AND VISION CARE BENEFITS TO ELIGIBLE PARTICIPANTS PURSUANT TO THE FUND'S PLAN OF BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Keezer President(as Of 3/22) | OfficerTrustee | 1 | $0 |
John Langan Chair | OfficerTrustee | 1 | $0 |
William Gleason Treasurer | OfficerTrustee | 1 | $0 |
Gregory Dominique Executive Secretary (as Of 3/22) | Trustee | 1 | $0 |
Paul Smith Administrator | Trustee | 1 | $0 |
Michael Grant Trustee (to 11/21) | Trustee | 1 | $0 |
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 | $3,382,435 |
| Investment income | $82,287 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,464,722 |
| 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 | $3,147,167 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,174 |
| Fees for services: Other | $2,625 |
| Advertising and promotion | $0 |
| Office expenses | $15,317 |
| 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 | $9,102 |
| All other expenses | $0 |
| Total functional expenses | $3,633,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $562,745 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $213,051 |
| 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 | $61,225 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,997,830 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,834,851 |
| Accounts payable and accrued expenses | $592,084 |
| 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 | $0 |
| Total liabilities | $592,084 |
| 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 | $7,242,767 |
| Total liabilities and net assets/fund balances | $7,834,851 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Teachers Union Health And Welfare Fund Boston, MA | $27,133,628 | $10,949,710 |
Massachusetts Correction Officers Health & Welfare Trust Fund Manchester, NH | $7,834,851 | $3,464,722 |
Nage-Seiu Local 5000 Trial Court Of Mass Health And Welfare Fund Quincy, MA | $1,835,319 | $2,180,982 |
Maine State Employees Assoc Income Protection Plan & Trust Agreement Augusta, ME | $8,070,829 | $1,941,840 |
Tufts University Employee Benefits Tr 060194 Prhb Somerville, MA | $16,777,437 | $1,539,960 |
American Postal Workers Accident Benefit Association Rochester, NH | $1,296,349 | $1,626,413 |
Boston Letter Carriers Mutual Benefit Association Braintree, MA | $6,705,870 | $276,340 |
Mcofu Retiree Health And Welfare Plan Tr Manchester, NH | $10,161,824 | $1,401,304 |
Newton Police Memorial Association West Newton, MA | $1,328,437 | $207,554 |
Maine State Troopers Association Benefits Trust Augusta, ME | $795,224 | $158,411 |
New Bedford Police Association New Bedford, MA | $2,900,408 | $227,166 |
Bangor Police Relief Association Bangor, ME | $1,173,107 | $34,027 |