Teamsters Local 145 Health Services & Ins Fund
- Assets
- $15.2m
- Revenue
- $5.5m
- Investments
- $8.2m
- Employees
- 22
- Location
- Stratford, CT
- Founding
- 10/1996
- Data as of
- 06/2023
- EIN
- 06-0711441
Organization Overview
Teamsters Local 145 Health Services & Ins Fund is located in Stratford, CT. The organization was established in 1996. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2023, Teamsters Local 145 Health Services & Ins Fund employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Local 145 Health Services & Ins Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, Teamsters Local 145 Health Services & Ins Fund generated $5.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $6.1m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HEALTH AND WELFARE BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE MEMBERS/DEPENDENTS THROUGH A COLLECTIVELY BARGAINED MULTIEMPLOYER PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Italo Bonacci Trustee | Trustee | 10 | $0 |
Dennis Novak Trustee | Trustee | 10 | $0 |
Sheila Nevins Trustee | Trustee | 10 | $0 |
Kevin Atkinson Trustee | Trustee | 10 | $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 | $5,400,793 |
| Investment income | $408,374 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$342,303 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,473,348 |
| 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 | $5,023,003 |
| 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 | $89,333 |
| Pension plan accruals and contributions | $34,632 |
| Other employee benefits | $30,035 |
| Payroll taxes | $7,152 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,620 |
| Fees for services: Accounting | $40,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,527 |
| Fees for services: Other | $118,694 |
| Advertising and promotion | $0 |
| Office expenses | $8,669 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,309 |
| Travel | $1,258 |
| 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 | $2,085 |
| Insurance | $20,075 |
| All other expenses | $4,066 |
| Total functional expenses | $6,078,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $535,351 |
| Savings and temporary cash investments | $731,460 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,455 |
| 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 | $47,167 |
| Net Land, buildings, and equipment | $4,262 |
| Investments—publicly traded securities | $5,368,084 |
| Investments—other securities | $8,249,336 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $216,421 |
| Total assets | $15,157,536 |
| Accounts payable and accrued expenses | $44,271 |
| 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 | $845,255 |
| Total liabilities | $889,526 |
| 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 | $14,268,010 |
| Total liabilities and net assets/fund balances | $15,157,536 |