Health & Welfare Fund-485
- Assets
- $8.9m
- Revenue
- $1.4m
- Investments
- $4.7m
- Employees
- 1
- Location
- Columbia, MD
- Founding
- 08/1964
- Data as of
- 04/2023
- EIN
- 11-2026238
Organization Overview
Health & Welfare Fund-485 is located in Columbia, MD. The organization was established in 1964. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health & Welfare Fund-485 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 04/2023, Health & Welfare Fund-485 generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $801.2k during the year ending 04/2023. As we would expect to see with falling revenues, expenses have declined by (11.3%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DELIVER HEALTH BENEFITS TO ITS PARTICIPANTS AND DEPENDENTS, WHICH FURTHER THE COMMON INTERESTS OF PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND OTHER BENEFITS TO COVERED PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerardo Leon Trustee | Trustee | 1 | $0 |
Donald Devine Trustee | Trustee | 1 | $0 |
Luis Humberto Leon Trustee | 15 | $0 | |
Steven Sundberg Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benesys Inc Third Party Administ | 4/29/22 | $132,300 |
Cigna Health & Life Insurance Company Ppo Provider | 4/29/22 | $147,473 |
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 | $713,183 |
| Investment income | $153,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,440 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,375,407 |
| 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 | $271,251 |
| Compensation of current officers, directors, key employees. | $192 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,892 |
| Pension plan accruals and contributions | $12,913 |
| Other employee benefits | $0 |
| Payroll taxes | $2,612 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,660 |
| Fees for services: Accounting | $65,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,385 |
| Fees for services: Other | $258,198 |
| Advertising and promotion | $0 |
| Office expenses | $7,683 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,899 |
| 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 | $0 |
| Insurance | $20,380 |
| All other expenses | $142 |
| Total functional expenses | $801,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,478 |
| Savings and temporary cash investments | $378,766 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,099 |
| 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 | $26,358 |
| Net Land, buildings, and equipment | $22,135 |
| Investments—publicly traded securities | $3,602,522 |
| Investments—other securities | $4,700,879 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,912,237 |
| Accounts payable and accrued expenses | $62,203 |
| 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 | $90,076 |
| Total liabilities | $152,279 |
| Net assets without donor restrictions | $8,759,958 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $8,912,237 |