Bctgm Local 53 Health Benefits Fund is located in Rutherford, NJ. The organization was established in 1958. 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 04/2022, Bctgm Local 53 Health Benefits Fund employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bctgm Local 53 Health Benefits Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 04/2022, Bctgm Local 53 Health Benefits Fund generated $30.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $30.5m during the year ending 04/2022. While expenses have increased by 5.9% per year over the past 7 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
TO PROVIDE FUND PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS WITH HEALTH & WELFARE BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES MEDICAL, HOSPITAL, DENTAL, PRESCRIPTION DRUG, LIFE AND DISABILITY, AS WELL AS DEATH BENEFITS TO 1,636 PARTICIPANTS AND THEIR DEPENDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Joyce Alston Trustee | Trustee | 5 | $0 |
Joseph Weinbel Trustee | Trustee | 1 | $0 |
Calvin Williams Trustee | Trustee | 1 | $0 |
Joseph Rodriguez Trustee | Trustee | 1 | $0 |
Jeanne Carrieri Trustee | Trustee | 1 | $0 |
Kevin Atkinson Trustee | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Emblemhealth Claims Processing | 4/29/22 | $1,054,724 |
Slevin & Hart Pc Attorney | 4/29/22 | $110,046 |
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 | $28,843,260 |
Investment income | $127,261 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $115,851 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $30,081,271 |
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 | $29,854,553 |
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 | $158,580 |
Pension plan accruals and contributions | $50,393 |
Other employee benefits | $64,877 |
Payroll taxes | $17,020 |
Fees for services: Management | $0 |
Fees for services: Legal | $116,118 |
Fees for services: Accounting | $86,072 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $40,080 |
Fees for services: Other | $32,500 |
Advertising and promotion | $0 |
Office expenses | $16,608 |
Information technology | $33,000 |
Royalties | $0 |
Occupancy | $35,969 |
Travel | $0 |
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 | $9,999 |
Insurance | $19,876 |
All other expenses | $0 |
Total functional expenses | $30,535,645 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $3,456,376 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,170,379 |
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 | $598,010 |
Net Land, buildings, and equipment | $10,001 |
Investments—publicly traded securities | $6,362,380 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $20,000 |
Total assets | $11,617,146 |
Accounts payable and accrued expenses | $53,541 |
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 | $662,794 |
Total liabilities | $716,335 |
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 | $10,900,811 |
Total liabilities and net assets/fund balances | $11,617,146 |