Rdwa 8
- Assets
- $38.4m
- Revenue
- $34.6m
- Investments
- $18.1m
- Employees
- 18
- Location
- Long Island City, NY
- Founding
- 12/1951
- Data as of
- 12/2022
- EIN
- 11-1653210
Organization Overview
Rdwa 8 is located in Long Island City, NY. The organization was established in 1951. 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 12/2022, Rdwa 8 employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rdwa 8 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Rdwa 8 generated $34.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $32.2m during the year ending 12/2022. While expenses have increased by 12.4% per year over the past 8 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
PROVIDE HEALTH & WELFARE BENEFITS TO ELIGIBLE MEMBERS UNDER A C.B.A.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HEALTH & WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Sabatino Employer Trustee | Trustee | 2 | $0 |
Nicholas Siciliano Union Trustee | Trustee | 2 | $0 |
Barry Schader Union Trustee | Trustee | 2 | $0 |
Scott Wolkowitz Employer Trustee | Trustee | 2 | $0 |
Robert Ventura Union Trustee/training Dir | Trustee | 2 | $0 |
Shri Attri Employer Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cigna Medical & Dental Premiums | 12/30/20 | $16,386,550 |
Optum Rx Prescription Premiums | 12/30/20 | $1,627,598 |
Zenith American Solutions Third Party Administrator | 12/30/20 | $140,580 |
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 | $34,008,412 |
| Investment income | $551,538 |
| 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 | $34,559,950 |
| 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 | $31,587,461 |
| 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 | $35,010 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,064 |
| Payroll taxes | $4,894 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $126,130 |
| Fees for services: Accounting | $76,378 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,212 |
| Fees for services: Other | $201,564 |
| Advertising and promotion | $0 |
| Office expenses | $27,094 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,884 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,931 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,518 |
| All other expenses | $0 |
| Total functional expenses | $32,186,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $825,513 |
| Savings and temporary cash investments | $13,973,726 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,492,465 |
| 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 | $10,834 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $18,071,378 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,000 |
| Total assets | $38,419,916 |
| Accounts payable and accrued expenses | $38,118 |
| 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 | $7,456,253 |
| Total liabilities | $7,494,371 |
| 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 | $30,925,545 |
| Total liabilities and net assets/fund balances | $38,419,916 |