Building Service 32b-J Health Fund
- Assets
- $2.2b
- Revenue
- $1.7b
- Investments
- $1.8b
- Employees
- 460
- Location
- New York, NY
- Founding
- 05/1978
- Data as of
- 06/2022
- EIN
- 13-2928869
Organization Overview
Building Service 32b-J Health Fund is located in New York, NY. The organization was established in 1978. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 06/2022, Building Service 32b-J Health Fund employed 460 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Building Service 32b-J 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 06/2022, Building Service 32b-J Health Fund generated $1.7b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $1.5b during the year ending 06/2022. While expenses have increased by 4.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH, DEATH, LIFE INSURANCE, ACCIDENTAL DEATH & DISMEMBERMENT AND LONG-TERM DISABILITY BENEFITS TO ITS ELIGIBLE PARTICIPANTS & DEPENDENTS UNDER COLLECTIVE BARGAINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES VARIOUS HEALTH BENEFITS TO APPROXIMATELY 114,946 ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howard I Rothschild Trustee | Trustee | 1 | $0 |
Robert Schwartz Deputy Trustee | Trustee | 1 | $0 |
Peter Goldberger Executive Director | Officer | 22.01 | $314,040 |
Farnaz Tamari Director, Dental Center | 35 | $279,177 | |
Kyle Bragg Trustee/chairman | OfficerTrustee | 1 | $0 |
Harry Weinberg Deputy Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Blue Cross Blue Shield Medical Claims Admin | 6/29/22 | $43,518,827 |
Delta Dental Dental Claims Admin | 6/29/22 | $2,779,029 |
Vitech Systems Group Computer Consultant | 6/29/22 | $2,192,235 |
Schultheis Panettieri Llp Payroll Auditor | 6/29/22 | $1,857,877 |
Hh Graphic Printing Communications Printing | 6/29/22 | $1,527,142 |
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 | $1,598,346,243 |
| Investment income | $27,381,514 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,060,005 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,675,988,971 |
| 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 | $1,417,921,289 |
| Compensation of current officers, directors, key employees. | $982,369 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,607,469 |
| Pension plan accruals and contributions | $3,364,388 |
| Other employee benefits | $5,156,079 |
| Payroll taxes | $456,657 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,533,236 |
| Fees for services: Accounting | $162,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,396,682 |
| Fees for services: Other | $49,608,612 |
| Advertising and promotion | $0 |
| Office expenses | $1,188,747 |
| Information technology | $1,093,500 |
| Royalties | $0 |
| Occupancy | $5,708,739 |
| Travel | $24,083 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,305 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,540,502 |
| Insurance | $651,905 |
| All other expenses | $58,392 |
| Total functional expenses | $1,523,738,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $118,282,001 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $99,035,745 |
| 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 | $7,442,188 |
| Net Land, buildings, and equipment | $142,490,718 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,773,373,204 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,606,540 |
| Total assets | $2,157,230,396 |
| Accounts payable and accrued expenses | $37,161,913 |
| 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 | $1,148,748 |
| Total liabilities | $38,310,661 |
| 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 | $2,118,919,735 |
| Total liabilities and net assets/fund balances | $2,157,230,396 |