United Federation Of Teachers Welfare Fund is located in New York, NY. The organization was established in 1966. According to its NTEE Classification (Y44) the organization is classified as: Voluntary Employees Beneficiary Associations Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 09/2021, United Federation Of Teachers Welfare Fund employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Federation Of Teachers 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 09/2021, United Federation Of Teachers Welfare Fund generated $434.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $335.7m during the year ending 09/2021. While expenses have increased by 1.2% per year over the past 6 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
PROVIDE WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPLEMENTARY WELFARE BENEFITS TO ELIGIBLE EMPLOYEES AND RETIREES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Geofrey Sorkin Executive Director | Officer | 35 | $216,932 |
George Reis Fund Comptroller | Officer | 35 | $212,381 |
Mei Qing Chen Associate Comptroller | 35 | $184,272 | |
Fani Debnath Network Manager | 35 | $180,453 | |
Mark Pearson Director Of Information Systems | 35 | $172,840 | |
Joseph Usatch Assistant Director | 33 | $167,494 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Chlic-chattanooga Dental Administrator | 9/29/21 | $5,084,879 |
Umr Risk Management Benefits Administration | 9/29/21 | $558,495 |
General Vision Services Llc Optical Administrator | 9/29/21 | $287,901 |
Rocaton Investment Advisors Investment Advisor | 9/29/21 | $165,514 |
Mirkin & Gordon Pc Legal Services | 9/29/21 | $149,528 |
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 | $412,003,608 |
Investment income | $13,124,098 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $803,001 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $434,332,942 |
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 | $306,112,903 |
Compensation of current officers, directors, key employees. | $569,185 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $9,665,402 |
Pension plan accruals and contributions | $2,791,266 |
Other employee benefits | $4,081,395 |
Payroll taxes | $792,832 |
Fees for services: Management | $0 |
Fees for services: Legal | $215,108 |
Fees for services: Accounting | $71,341 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $398,779 |
Fees for services: Other | $355,888 |
Advertising and promotion | $0 |
Office expenses | $424,037 |
Information technology | $6,100,704 |
Royalties | $0 |
Occupancy | $2,805,083 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $71 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $454,178 |
Insurance | $126,044 |
All other expenses | $1,828 |
Total functional expenses | $335,712,905 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $4,463,076 |
Savings and temporary cash investments | $98,360,798 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $67,661,537 |
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 | $1,994,560 |
Net Land, buildings, and equipment | $3,472,601 |
Investments—publicly traded securities | $655,000,465 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $830,953,037 |
Accounts payable and accrued expenses | $2,680,555 |
Grants payable | $0 |
Deferred revenue | $4,557,465 |
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 | $71,046,329 |
Total liabilities | $78,284,349 |
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 | $752,668,688 |
Total liabilities and net assets/fund balances | $830,953,037 |