Sheet Metal Workers-38 Insurance And Welfare Fund
- Assets
- $18.2m
- Revenue
- $12.9m
- Investments
- $0.0
- Employees
- 5
- Location
- Brewster, NY
- Founding
- 10/1949
- Data as of
- 12/2021
- EIN
- 13-1739693
Organization Overview
Sheet Metal Workers-38 Insurance And Welfare Fund is located in Brewster, NY. The organization was established in 1949. 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, Sheet Metal Workers-38 Insurance And Welfare Fund employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheet Metal Workers-38 Insurance And Welfare 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, Sheet Metal Workers-38 Insurance And Welfare Fund generated $12.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $13.9m during the year ending 12/2021. While expenses have increased by 2.8% 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 MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard P Pagano Fund Manager | Officer | 30 | $145,489 |
John Malaspina Union Trustee | Trustee | 2 | $0 |
Nicholas Colombo Jr Union Trustee - Thru 6/21 | Trustee | 2 | $0 |
Michael Colombo Union Trustee | Trustee | 2 | $0 |
Frank Perri Union Trustee - Eff 10/21 | Trustee | 2 | $0 |
Dennis Lavopa Employer Trustee - Thru 8/21 | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meritain Health Claims Admin | 12/30/20 | $267,380 |
Asher Kelly Pllc Legal Representation | 12/30/20 | $168,858 |
Schultheis & Panettieri Llp Auditing & Pr Audits | 12/30/20 | $128,716 |
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 | $11,499,338 |
| Investment income | $372,474 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $993,038 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,876,452 |
| 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 | $13,166,570 |
| Compensation of current officers, directors, key employees. | $258,301 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $205,361 |
| Pension plan accruals and contributions | $90,901 |
| Other employee benefits | $24,133 |
| Payroll taxes | $30,319 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,791 |
| Fees for services: Accounting | $64,383 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,426 |
| Fees for services: Other | $8,500 |
| Advertising and promotion | $0 |
| Office expenses | $36,007 |
| Information technology | $30,430 |
| Royalties | $0 |
| Occupancy | $96,000 |
| Travel | $5,769 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,672 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,047 |
| Insurance | $20,986 |
| All other expenses | -$300,318 |
| Total functional expenses | $13,855,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $650,851 |
| Savings and temporary cash investments | $888,665 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,229,796 |
| 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 | $28,749 |
| Net Land, buildings, and equipment | $14,585 |
| Investments—publicly traded securities | $15,435,383 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,248,029 |
| Accounts payable and accrued expenses | $51,007 |
| 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 | $3,332,241 |
| Total liabilities | $3,383,248 |
| 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 | $14,864,781 |
| Total liabilities and net assets/fund balances | $18,248,029 |