Local 888 Health Fund
- Assets
- $30.1m
- Revenue
- $22.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Elmwood Park, NJ
- Founding
- 02/1951
- Data as of
- 12/2021
- EIN
- 13-1564856
Organization Overview
Local 888 Health Fund is located in Elmwood Park, NJ. The organization was established in 1951. 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. As of 12/2021, Local 888 Health Fund employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 888 Health Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Local 888 Health Fund generated $22.4m 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 $21.0m during the year ending 12/2021. While expenses have increased by 2.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND WELFARE BENEFITS TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS FROM EMPLOYERS AND PARTICIPANTS PROVIDE WELFARE BENEFITS TO MEMBERS OF THE PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosalba Perez Fund Admin | Officer | 24 | $353,690 |
Jean-Joseph Bruny Union Trustee | Trustee | 5 | $0 |
Ajay Borzoni Union Trustee | Trustee | 1 | $0 |
Steve Howard Employ. Trustee | Trustee | 1 | $0 |
Felix Burgos Employ. Trustee | Trustee | 1 | $0 |
Marshall Paris Employ. Trustee | Trustee | 24 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Healthcare Insurance Co Contract Admin Fees | 12/30/21 | $840,963 |
Horizon Healthcare Services Inc Contract Admin Fees | 12/30/21 | $162,945 |
Cigna Health And Life Insurance Co Contract Admin Fees | 12/30/21 | $153,456 |
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 | $20,698,293 |
| Investment income | $356,189 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $907,005 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,426,768 |
| 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 | $16,682,559 |
| Compensation of current officers, directors, key employees. | $353,690 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $655,788 |
| Pension plan accruals and contributions | $58,583 |
| Other employee benefits | $234,751 |
| Payroll taxes | $68,414 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $142,649 |
| Fees for services: Accounting | $68,519 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,218 |
| Fees for services: Other | $7,199 |
| Advertising and promotion | $0 |
| Office expenses | $6,873 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,038 |
| 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 | $1,861 |
| Insurance | $57,119 |
| All other expenses | $1,050 |
| Total functional expenses | $21,023,335 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $119,018 |
| Savings and temporary cash investments | $557,239 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,018,522 |
| 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 | $14,946 |
| Net Land, buildings, and equipment | $2,027 |
| Investments—publicly traded securities | $25,803,180 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,537,755 |
| Total assets | $30,052,687 |
| Accounts payable and accrued expenses | $20,092 |
| 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 | $2,206,423 |
| Total liabilities | $2,226,515 |
| 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 | $27,826,172 |
| Total liabilities and net assets/fund balances | $30,052,687 |
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|---|---|---|
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Veba Trust For Union Employees Of Keyspan Corporation Pittsburgh, PA | $1,069,869,045 | $310,728,868 |
Health Reimbursement Account Fund Of The Electrical Industry Flushing, NY | $132,750,726 | $42,957,769 |
Ufcw Local 1776ks Wd And Employers Health Fund Canonsburg, PA | $57,492,418 | $45,036,946 |
Gte Bargained Retired Group Insurance Plan Pittsburgh, PA | $581,895,835 | $94,164,252 |
The Alliance Of Western New York Benefit Fund Niagara Falls, NY | $6,976,289 | $46,952,966 |
Engineers Union Welfare Fund-68 W Caldwell, NJ | $91,129,642 | $51,382,573 |
Njbls Welfare Fund Jersey City, NJ | $110,871,064 | $43,109,332 |
Noitu Insurance Trust Fund Jamaica, NY | $148,755,855 | $71,536,431 |
Service Employees 32bj North Health Fund New York, NY | $54,056,871 | $50,215,103 |
Northeast Pennsylvania Sch Dist Tr Edwardsville, PA | $25,318,463 | $48,080,528 |