Laborers Local 235 Welfare Fund
- Assets
- $11.9m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 4
- Location
- Elmsford, NY
- Founding
- 01/1959
- Data as of
- 12/2023
- EIN
- 13-1777458
Organization Overview
Laborers Local 235 Welfare Fund is located in Elmsford, NY. The organization was established in 1959. 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 12/2023, Laborers Local 235 Welfare Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laborers Local 235 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 12/2023, Laborers Local 235 Welfare Fund generated $10.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $6.1m during the year ending 12/2023. 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
EMPLOYER CONTRIBUTIONS FROM UNION CONTRACTORS PROVIDE ELIGIBLE MEMBERS WITH WELFARE BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMPLOYER CONTRIBUTIONS FROM UNION CONTRACTORS PROVIDE ELIGIBLE MEMBERS WITH WELFARE BENEFITS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dario Boccarossa Chairman | Trustee | 0.05 | $0 |
Ralph Merritt Union Trustee | Trustee | 0.05 | $0 |
Jarainare B Arellano Union Trustee | Trustee | 0.05 | $0 |
Mark Fante Secretary | Trustee | 0.05 | $0 |
Matthew Pepe Employer Trustee | Trustee | 0.05 | $0 |
Alan Seidman Employer Trustee | Trustee | 0.05 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pomco Claims Processing | 12/30/15 | $181,159 |
Anthem Blue Cross & Blue Shield Claims Processing | 12/30/15 | $118,112 |
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 | $10,050,558 |
| Investment income | $246,588 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,027 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,765,673 |
| 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 | $4,511,853 |
| 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 | $253,322 |
| Pension plan accruals and contributions | $59,500 |
| Other employee benefits | $149,485 |
| Payroll taxes | $21,159 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,510 |
| Fees for services: Accounting | $19,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,039 |
| Fees for services: Other | $271,703 |
| Advertising and promotion | $0 |
| Office expenses | $94,711 |
| Information technology | $27,826 |
| Royalties | $0 |
| Occupancy | $47,508 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $860 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,009 |
| Insurance | $375,565 |
| All other expenses | $0 |
| Total functional expenses | $6,059,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,601,539 |
| Savings and temporary cash investments | $139,392 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,515,064 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $103,304 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $42,250 |
| Investments—publicly traded securities | $2,450,609 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $66,162 |
| Total assets | $11,918,320 |
| Accounts payable and accrued expenses | $514,218 |
| 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 | $336,407 |
| Total liabilities | $850,625 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $11,918,320 |