Local 522 Ind Roofing & Sheetmetal Crafts Welfare Fund
- Assets
- $1.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 162
- Location
- Brooklyn, NY
- Founding
- 02/1965
- Data as of
- 12/2022
- EIN
- 11-1854964
Organization Overview
Local 522 Ind Roofing & Sheetmetal Crafts Welfare Fund is located in Brooklyn, NY. The organization was established in 1965. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Local 522 Ind Roofing & Sheetmetal Crafts Welfare Fund employed 162 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 522 Ind Roofing & Sheetmetal Crafts 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 12/2022, Local 522 Ind Roofing & Sheetmetal Crafts Welfare Fund generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 8.7% 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
PROVIDING HEALTH & WELFARE BENEFITS TO PARTICIPANTS COVERED BY COLLECTIVE BARGAINING AGREEMENTS. BENEFITS INCLUDE MEDICAL, HOSPITAL, DENTAL, OPTICAL, DEATH AND HOLIDAY BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROVIDING OF HEALTH AND WELFARE BENEFITS TO PARTICIPANTS AND DEPENDENTS. BENEFITS INCLUDE MEDICAL, HOSPITAL, DENTAL, OPTICAL, DEATH AND HOLIDAY BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Kane Trustee | Trustee | 1 | $0 |
Peter Murphy Trustee | Trustee | 1 | $0 |
Andrew Wist Trustee | Trustee | 1 | $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 | $1,288,218 |
| Investment income | $28,224 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $67,592 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,385,099 |
| 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 | $1,624,461 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $13,000 |
| Fees for services: Legal | $55,909 |
| Fees for services: Accounting | $33,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,428 |
| Fees for services: Other | $36,624 |
| Advertising and promotion | $0 |
| Office expenses | $10,188 |
| Information technology | $2,901 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,907 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $963 |
| Insurance | $3,864 |
| All other expenses | $0 |
| Total functional expenses | $1,790,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$54,062 |
| Savings and temporary cash investments | $518,467 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $109,506 |
| 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 | $8,140 |
| Net Land, buildings, and equipment | $8,663 |
| Investments—publicly traded securities | $1,325,718 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,916,432 |
| Accounts payable and accrued expenses | $192,361 |
| 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 | $241,000 |
| Total liabilities | $433,361 |
| 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 | $1,483,071 |
| Total liabilities and net assets/fund balances | $1,916,432 |