International Union Of Operating Engineers Local 14-14b Wlfre Fund
- Assets
- $37.7m
- Revenue
- $28.7m
- Investments
- $8.2m
- Employees
- 0
- Location
- Flushing, NY
- Founding
- 08/1977
- Data as of
- 06/2023
- EIN
- 11-2392159
Organization Overview
International Union Of Operating Engineers Local 14-14b Wlfre Fund is located in Flushing, NY. The organization was established in 1977. 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. International Union Of Operating Engineers Local 14-14b Wlfre Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, International Union Of Operating Engineers Local 14-14b Wlfre Fund generated $28.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $31.7m during the year ending 06/2023. While expenses have increased by 2.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Klemens Union Trustee | Trustee | 1 | $0 |
John Cronin Union Trustee | Trustee | 1 | $0 |
Edwin L Christian Union Trustee | Trustee | 1 | $0 |
Chris Confrey - Thru 1022 Union Trustee | Trustee | 1 | $0 |
John F O'hare Emplyr Trustee | Trustee | 1 | $0 |
Tyreef Bevel Emplyr Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Health Claims Processing | 6/29/19 | $655,468 |
The Segal Company Actuarial Fee | 6/29/19 | $161,410 |
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 | $26,972,994 |
| Investment income | $722,818 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $964,063 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,689,263 |
| 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 | $30,710,074 |
| 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 | $0 |
| Fees for services: Legal | $77,911 |
| Fees for services: Accounting | $199,215 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $101,344 |
| Fees for services: Other | $79,227 |
| Advertising and promotion | $0 |
| Office expenses | $44,579 |
| Information technology | $55,357 |
| Royalties | $0 |
| Occupancy | $41,904 |
| 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 | $23,917 |
| Insurance | $25,906 |
| All other expenses | $316,913 |
| Total functional expenses | $31,676,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $967,025 |
| Savings and temporary cash investments | $3,957,368 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,095,867 |
| 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 | $242,226 |
| Net Land, buildings, and equipment | $19,342 |
| Investments—publicly traded securities | $22,201,086 |
| Investments—other securities | $8,159,936 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,785 |
| Total assets | $37,656,635 |
| Accounts payable and accrued expenses | $73,004 |
| 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 | $3,603,000 |
| Total liabilities | $3,676,004 |
| 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 | $33,980,631 |
| Total liabilities and net assets/fund balances | $37,656,635 |