Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United
- Assets
- $20.7m
- Revenue
- $12.7m
- Investments
- $2.5m
- Employees
- 4
- Location
- White Plains, NY
- Founding
- 01/1958
- Data as of
- 12/2021
- EIN
- 13-5521921
Organization Overview
Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United is located in White Plains, NY. The organization was established in 1958. 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, Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United 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, Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United generated $12.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $11.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 7 years. 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
VEBA HEALTH FUND PROVIDING HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL, HOSPITALIZATION, DENTAL, VISION AND PRESCRITION BENEFITS PAID TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alberto Arroyo Union Trustee | Trustee | 1 | $0 |
Michael Potack Employer Trustee | Trustee | 1 | $0 |
Meghan Chambers Union Trustee - Chairman | Trustee | 1 | $0 |
John Magliocco Employer Trustee | Trustee | 1 | $0 |
Robert Potack Employer Trustee | Trustee | 1 | $0 |
Daniel Silverman Union Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amalgamated Employee Benefits Administra Administrative & Investment Services | 12/30/21 | $1,144,978 |
Empire Healthchoice Assurance Inc Claim Processing Fee | 12/30/21 | $384,141 |
Schulte Roth & Zabel Llp Legal | 12/30/21 | $119,446 |
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 | $45,495 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,495 |
| Total Program Service Revenue | $11,310,633 |
| Investment income | $938,843 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $339,097 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,653,336 |
| 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 | $10,028,025 |
| 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 | $123,915 |
| Pension plan accruals and contributions | $17,541 |
| Other employee benefits | $50,861 |
| Payroll taxes | $11,522 |
| Fees for services: Management | $1,030,978 |
| Fees for services: Legal | $136,960 |
| Fees for services: Accounting | $31,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $117,027 |
| Fees for services: Other | $69,492 |
| Advertising and promotion | $0 |
| Office expenses | $9,569 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,000 |
| Travel | $4,299 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $48,422 |
| All other expenses | $0 |
| Total functional expenses | $11,719,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $1,292,334 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,011,536 |
| 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 | $212 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,581,680 |
| Investments—other securities | $2,455,039 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $337,251 |
| Total assets | $20,678,302 |
| Accounts payable and accrued expenses | $102,003 |
| 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 | $161,809 |
| Total liabilities | $263,812 |
| 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 | $20,414,490 |
| Total liabilities and net assets/fund balances | $20,678,302 |