Laborers Intl Union Of N A Welfare Fund
- Assets
- $16.5m
- Revenue
- $4.8m
- Investments
- $2.2m
- Employees
- 1
- Location
- Chestnut Ridge, NY
- Founding
- 08/1955
- Data as of
- 06/2022
- EIN
- 13-1895923
Organization Overview
Laborers Intl Union Of N A Welfare Fund is located in Chestnut Ridge, NY. The organization was established in 1955. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laborers Intl Union Of N A 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 06/2022, Laborers Intl Union Of N A Welfare Fund generated $4.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $4.1m during the year ending 06/2022. 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
TO PROVIDE HEALTH AND WELFARE, SAVINGS, AND EDUCATION BENEFITS TO PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MEDICAL, LIFE INSURANCE, SAVINGS, AND EDUCATION BENEFITS TO PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS UNDER A MULTIEMPLOYER PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Reich Trustee | Trustee | 5 | $0 |
Kenneth Lewis Trustee | Trustee | 5 | $19,587 |
John Cooney Jr Trustee | Trustee | 5 | $0 |
Alan Seidman Trustee | Trustee | 5 | $0 |
Vincenza Quinlan Fund Manager | Officer | 35 | $54,106 |
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 | $4,596,129 |
| Investment income | $380,193 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$178,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,822,249 |
| 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 | $3,491,518 |
| Compensation of current officers, directors, key employees. | $73,693 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,466 |
| Pension plan accruals and contributions | $37,352 |
| Other employee benefits | $46,983 |
| Payroll taxes | $8,016 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,974 |
| Fees for services: Accounting | $28,318 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,930 |
| Fees for services: Other | $188,125 |
| Advertising and promotion | $0 |
| Office expenses | $27,817 |
| Information technology | $28,803 |
| Royalties | $0 |
| Occupancy | $18,247 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,627 |
| Interest | $1,841 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,966 |
| Insurance | $4,762 |
| All other expenses | $1,753 |
| Total functional expenses | $4,063,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $818,544 |
| Savings and temporary cash investments | $1,430,762 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,164,724 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,458 |
| Investments—publicly traded securities | $10,767,489 |
| Investments—other securities | $2,207,002 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $112,003 |
| Total assets | $16,502,982 |
| Accounts payable and accrued expenses | $29,039 |
| 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 | $821,265 |
| Total liabilities | $850,304 |
| 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 | $15,652,678 |
| Total liabilities and net assets/fund balances | $16,502,982 |