Health & Welfare Fund-485
- Assets
- $5.4m
- Revenue
- $2.7m
- Investments
- $1.1m
- Employees
- 1
- Location
- Columbia, MD
- Founding
- 08/1964
- Data as of
- 04/2022
- 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 04/2022, Health & Welfare Fund-485 generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $3.0m during the year ending 04/2022. While expenses have increased by 5.4% 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
THE HEALTH FUND'S MISSION IS TO DELIVER HEALTH BENEFITS TO ITS MEMBERS AND DEPENDENTS WHICH FURTHER THE COMMON INTERESTS OF THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH BENEFITS TO APPROXIMATELY 195 MEMBERS AND THEIR DEPENDENTS FOR THE FISCAL YEAR ENDING APRIL 30, 2022.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerardo Leon Trustee | Trustee | 1 | $384 |
Lynn Strober Trustee-P | Trustee | 1 | $0 |
Luis Humberto Leon Trustee | Trustee | 30 | $0 |
Steven Sundberg Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cigna Health & Life Insurance Company Ppo Provider | 4/29/22 | $147,473 |
Benesys Inc Third Party Administ | 4/29/22 | $132,300 |
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 | $2,585,836 |
| Investment income | $80,977 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,548 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,734,388 |
| 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 | $2,439,455 |
| Compensation of current officers, directors, key employees. | $384 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,329 |
| Pension plan accruals and contributions | $11,493 |
| Other employee benefits | $0 |
| Payroll taxes | $2,821 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,555 |
| Fees for services: Accounting | $38,778 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,600 |
| Advertising and promotion | $0 |
| Office expenses | $2,443 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,581 |
| 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 | $19,614 |
| All other expenses | $39,903 |
| Total functional expenses | $3,021,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $305,408 |
| Savings and temporary cash investments | $293,216 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $241,182 |
| 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 | $23,073 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,490,645 |
| Investments—other securities | $1,086,621 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,440,145 |
| Accounts payable and accrued expenses | $51,401 |
| 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 | $0 |
| Total liabilities | $51,401 |
| Net assets without donor restrictions | $5,388,744 |
| 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 | $5,440,145 |