Hollow Metal Trust Fund
- Assets
- $36.2m
- Revenue
- $8.8m
- Investments
- $7.9m
- Employees
- 6
- Location
- New York, NY
- Founding
- 05/1988
- Data as of
- 12/2022
- EIN
- 11-2750720
Organization Overview
Hollow Metal Trust Fund is located in New York, NY. The organization was established in 1988. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Hollow Metal Trust Fund employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hollow Metal Trust 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, Hollow Metal Trust Fund generated $8.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $10.3m during the year ending 12/2022. 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
PROVIDES MEDICAL, SURGICAL, HOSPITALIZATION, PRESCRIPTION, DENTAL, OPTICAL, DISABILITY AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISBURSEMENT FOR MEDICAL, PRESCRIPTION, DENTAL, OPTICAL, DISABILITY AND DEATH BENEFIT CLAIMS SUBMITTED BY QUALIFIED COVERED EMPLOYEES OF UNIONS AFFILIATED WITH THE TRUST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Gallo Employer Trustee - Chairma | Trustee | 2 | $0 |
Edmund Greco Employer Trustee | Trustee | 2 | $0 |
Mike Cavanaugh Union Trustee | Trustee | 2 | $0 |
Joseph Geiger Union Trustee | Trustee | 2 | $0 |
Robert Villalta Union Trustee | Trustee | 2 | $0 |
Andrew Mucaria Union Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Healthchoice Assurance Inc Claims Administration | 12/30/22 | $202,924 |
Associated Administrators Llc Claims Administration | 12/30/22 | $120,516 |
C & R Consulting Inc Claims Administration | 12/30/22 | $117,206 |
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 | $8,637,632 |
| Investment income | $746,662 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$589,379 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,795,085 |
| 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 | $9,421,745 |
| 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 | $166,062 |
| Pension plan accruals and contributions | $97,296 |
| Other employee benefits | $32,860 |
| Payroll taxes | $70,528 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $76,979 |
| Fees for services: Accounting | $89,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,421 |
| Fees for services: Other | $52,087 |
| Advertising and promotion | $0 |
| Office expenses | $67,501 |
| Information technology | $65,730 |
| Royalties | $0 |
| Occupancy | $57,843 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,710 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,074 |
| Insurance | $18,337 |
| All other expenses | $3,858 |
| Total functional expenses | $10,306,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,393 |
| Savings and temporary cash investments | $1,299,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,027,676 |
| 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 | $48,865 |
| Net Land, buildings, and equipment | $187 |
| Investments—publicly traded securities | $24,358,145 |
| Investments—other securities | $7,857,296 |
| Investments—program-related | $0 |
| Intangible assets | $301,565 |
| Other assets | $1,149,112 |
| Total assets | $36,167,248 |
| Accounts payable and accrued expenses | $23,729 |
| 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 | $420,989 |
| Total liabilities | $444,718 |
| Net assets without donor restrictions | $35,722,530 |
| 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 | $36,167,248 |