Noitu Insurance Trust Fund
- Assets
- $149.4m
- Revenue
- $49.7m
- Investments
- $78.7m
- Employees
- 76
- Location
- Jamaica, NY
- Founding
- 12/1957
- Data as of
- 12/2023
- EIN
- 11-1740492
Organization Overview
Noitu Insurance Trust Fund is located in Jamaica, NY. The organization was established in 1957. 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 12/2023, Noitu Insurance Trust Fund employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Noitu Insurance 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 12/2023, Noitu Insurance Trust Fund generated $49.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $45.2m during the year ending 12/2023. While expenses have increased by 2.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MULTI-EMPLOYER ERISA HEALTH & WELFARE PLAN PROVIDING HEALTH AND OTHER BENEFITS FOR MEMBERS AND THEIR DEPENDENTS OF THE NATIONAL ORGANIZATION OF INDUSTRIAL TRADE UNIONS AND ITS AFFILIATED LOCALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND OTHER BENEFITS TO PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Farley Kamhi Director It Dept | 40 | $262,060 | |
Mark Green Controller/trst | Trustee | 30 | $227,737 |
Andre Williams Cnsl & Plan Adm | Officer | 40 | $248,965 |
David Lieberman Dir Of Llmdc | 40 | $230,612 | |
Elizabeth Forte Dir Of Empl Servs | 40 | $170,470 | |
Mariela Russell-Gore Claims Director | 40 | $164,117 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Healthchoice Assurance Inc Contract Admin | 12/30/23 | $810,994 |
Cvs Corporation Rx Contract Admin | 12/30/23 | $145,693 |
Valenz Health Consultant | 12/30/23 | $109,134 |
Basys Inc It Consulting | 12/30/23 | $376,000 |
Asnis Dental Pllc Dental Services | 12/30/23 | $108,000 |
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 | $45,789,289 |
| Investment income | $3,643,391 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $94,474 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,742,871 |
| 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 | $36,707,398 |
| Compensation of current officers, directors, key employees. | $846,114 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,006,255 |
| Pension plan accruals and contributions | $633,401 |
| Other employee benefits | $51,203 |
| Payroll taxes | $314,003 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,073 |
| Fees for services: Accounting | $78,087 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $237,918 |
| Fees for services: Other | $1,240,229 |
| Advertising and promotion | $0 |
| Office expenses | $126,620 |
| Information technology | $731,866 |
| Royalties | $0 |
| Occupancy | $499,482 |
| Travel | $58,072 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,921 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $341,700 |
| Insurance | $71,461 |
| All other expenses | $0 |
| Total functional expenses | $45,217,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,130,722 |
| Savings and temporary cash investments | $6,046,201 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $657,624 |
| 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 | $152,114 |
| Net Land, buildings, and equipment | $2,023,146 |
| Investments—publicly traded securities | $47,363,325 |
| Investments—other securities | $78,677,510 |
| Investments—program-related | $7,009,440 |
| Intangible assets | $0 |
| Other assets | $2,357,344 |
| Total assets | $149,417,426 |
| Accounts payable and accrued expenses | $216,676 |
| Grants payable | $0 |
| Deferred revenue | $1,275,600 |
| 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 | $14,418,818 |
| Total liabilities | $15,911,094 |
| 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 | $133,506,332 |
| Total liabilities and net assets/fund balances | $149,417,426 |