General Building Laborers-66 Welfare Fund
- Assets
- $31.1m
- Revenue
- $17.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Melville, NY
- Founding
- 11/1952
- Data as of
- 06/2022
- EIN
- 11-1627279
Organization Overview
General Building Laborers-66 Welfare Fund is located in Melville, NY. The organization was established in 1952. 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 06/2022, General Building Laborers-66 Welfare Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. General Building Laborers-66 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 06/2022, General Building Laborers-66 Welfare Fund generated $17.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $16.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.3%) 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 BENEFITS INCLUDING, BUT NOT LIMITED TO, VACATION, MEDICAL, HOSPITAL, SUPPLEMENTAL UNEMPLOYMENT, PRESCRIPTION DRUGS, DENTAL, OPTICAL, HEARING, MEDICARE SUPPLEMENT, DISABILITY, LIFE INS & ACCIDENTAL DEATH & DISMEMBERMENT BENEFITS TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE BENEFITS INCLUDING, BUT NOT LIMITED TO, VACATION, MEDICAL, HOSPITAL, SUPPLEMENTAL UNEMPLOYMENT, PRESCRIPTION DRUGS, DENTAL, OPTICAL, HEARING, MEDICARE SUPPLEMENT, DISABILITY, LIFE INS & ACCIDENTAL DEATH & DISMEMBERMENT BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allen Marmor Fund Manager | Officer | 20 | $129,338 |
Stephen Flanagan Union Trustee | Trustee | 1 | $0 |
Joseph Montalbano Union Trustee | Trustee | 1 | $0 |
John O'hare Emplyr Trustee | Trustee | 1 | $0 |
Eugene Messina Emplyr Trustee | Trustee | 1 | $0 |
Vincent Alu Union Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Magnacare Claims Processor | 6/29/22 | $286,026 |
Schultheis & Panettieri Llp Accountant | 6/29/22 | $224,848 |
High Level Technologies Inc Computer Consultant | 6/29/22 | $174,456 |
Innovative Software Solutions Inc Computer Consultant | 6/29/22 | $157,360 |
The Segal Company Inc Actuary | 6/29/22 | $131,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $260,155 |
| 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 | $260,155 |
| Total Program Service Revenue | $16,118,446 |
| Investment income | $525,674 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$75,176 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,072,064 |
| 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 | $14,679,556 |
| Compensation of current officers, directors, key employees. | $192,004 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $642,846 |
| Pension plan accruals and contributions | $278,553 |
| Other employee benefits | $270,301 |
| Payroll taxes | $62,354 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $79,643 |
| Fees for services: Accounting | $137,014 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,188 |
| Fees for services: Other | $130,557 |
| Advertising and promotion | $0 |
| Office expenses | $33,909 |
| Information technology | $192,523 |
| Royalties | $0 |
| Occupancy | $76,873 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,064 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,864 |
| Insurance | $13,168 |
| All other expenses | $0 |
| Total functional expenses | $16,079,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $469,064 |
| Savings and temporary cash investments | $3,269,842 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,459,451 |
| 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 | $10,999 |
| Investments—publicly traded securities | $24,752,030 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $88,864 |
| Total assets | $31,050,250 |
| Accounts payable and accrued expenses | $451,730 |
| 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 | $4,345,511 |
| Total liabilities | $4,797,241 |
| 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 | $26,253,009 |
| Total liabilities and net assets/fund balances | $31,050,250 |