Rhode Island Public Employees Health Services Fund
- Assets
- $19.4m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Providence, RI
- Founding
- 09/1981
- Data as of
- 12/2021
- EIN
- 05-0391681
Organization Overview
Rhode Island Public Employees Health Services Fund is located in Providence, RI. The organization was established in 1981. 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. Rhode Island Public Employees Health Services 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, Rhode Island Public Employees Health Services Fund generated $8.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. 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 PROCURE HEALTH AND RELATED BENEFITS THROUGH COLLECTIVELY BARGAINED CONTRIBUTIONS NEGOTIATED WITH AREA MUNICIPALITIES FOR THE BENEFIT OF MUNICIPAL EMPLOYEES, THEIR FAMILIES AND DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED PRESCRIPTION, VISION, LIFE INSURANCE AND OTHER HEALTH AND RELATED BENEFITS TO MUNICIPAL EMPLOYEES ACCORDING TO COLLECTIVELY BARGAINED AGREEMENTS BETWEEN PUBLIC EMPLOYEES LOCAL UNION 1033 AND VARIOUS AREA MUNICIPALITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Iannazzi Administrato | Officer | 20 | $3,050 |
Rikkie Maccarone Trustee | Trustee | 3 | $0 |
Ronald Coia Chairperson | Trustee | 3 | $0 |
Timothy Walsh Treasurer | Trustee | 5 | $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 | $7,274,312 |
| Investment income | $379,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $470,343 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,124,294 |
| 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 | $4,340,348 |
| 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 | $74,135 |
| Pension plan accruals and contributions | $19,275 |
| Other employee benefits | $3,050 |
| Payroll taxes | $6,009 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,982 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $93,640 |
| Fees for services: Other | $72,242 |
| Advertising and promotion | $0 |
| Office expenses | $36,583 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,050 |
| Travel | $357 |
| 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 | $1,790 |
| Insurance | $8,486 |
| All other expenses | $0 |
| Total functional expenses | $4,810,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,067,089 |
| Savings and temporary cash investments | $1,598,510 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,688,213 |
| 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 | $12,877 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,983,930 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,350,619 |
| Accounts payable and accrued expenses | $714,065 |
| 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 | $714,065 |
| 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 | $18,636,554 |
| Total liabilities and net assets/fund balances | $19,350,619 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Teachers Union Health And Welfare Fund Boston, MA | $27,133,628 | $10,949,710 |
Rhode Island Public Employees Health Services Fund Providence, RI | $19,350,619 | $8,124,294 |
Nage-Seiu Local 5000 Trial Court Of Mass Health And Welfare Fund Quincy, MA | $1,835,319 | $2,180,982 |
Tufts University Employee Benefits Tr 060194 Prhb Somerville, MA | $16,777,437 | $1,539,960 |
East Providence Firefighters Beneficial Association Rumford, RI | $2,748,877 | $686,592 |
Boston Letter Carriers Mutual Benefit Association Braintree, MA | $6,705,870 | $276,340 |
Newton Police Memorial Association West Newton, MA | $1,328,437 | $207,554 |
Darien Police Assoc Inc Voluntary Employees Beneficiary Assoc Tr Darien, CT | $1,924,402 | $191,730 |
New Bedford Police Association New Bedford, MA | $2,900,408 | $227,166 |
Westport Police Benevolent Association Inc Westport, CT | $676,544 | $65,973 |
Everett Police Mutual Aid Assoc Inc Everett, MA | $744,939 | $22,976 |