Local 807 Labor & Mgmt Health Fund
- Assets
- $71.1m
- Revenue
- $11.7m
- Investments
- $9.3m
- Employees
- 11
- Location
- Long Island City, NY
- Founding
- 05/1987
- Data as of
- 08/2022
- EIN
- 13-5548780
Organization Overview
Local 807 Labor & Mgmt Health Fund is located in Long Island City, NY. The organization was established in 1987. 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 08/2022, Local 807 Labor & Mgmt Health Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 807 Labor & Mgmt 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 08/2022, Local 807 Labor & Mgmt Health Fund generated $11.7m 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 (5.8%) each year. All expenses for the organization totaled $11.2m during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (0.8%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH & MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH & MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Casanova Fund Admin. | Officer | 40 | $179,037 |
Anthony Storz Union Trustee | Trustee | 1 | $0 |
Luis Herrera - Thru 052022 Union Trustee | Trustee | 1 | $0 |
Demos Demopoulos - Eff 092021 Union Trustee | Trustee | 1 | $0 |
Scott Little Mgt Trustee | Trustee | 1 | $0 |
Stephen Malone - Eff 052022 Union Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Magnacare Admin Services Network Access | 8/30/22 | $222,143 |
Blue Cross Blue Shield Med Claim Admin | 8/30/22 | $197,572 |
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 | $10,381,332 |
| Investment income | $1,401,971 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $172,971 |
| Net Gain/Loss on Asset Sales | -$274,953 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,681,321 |
| 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 | $9,732,225 |
| Compensation of current officers, directors, key employees. | $221,863 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $560,887 |
| Pension plan accruals and contributions | $243,871 |
| Other employee benefits | $180,455 |
| Payroll taxes | $56,259 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $179,851 |
| Fees for services: Accounting | $128,947 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $68,470 |
| Fees for services: Other | $123,207 |
| Advertising and promotion | $0 |
| Office expenses | $67,995 |
| Information technology | $30,260 |
| Royalties | $0 |
| Occupancy | $109,278 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $627 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $40,726 |
| All other expenses | -$562,194 |
| Total functional expenses | $11,182,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $919,639 |
| Savings and temporary cash investments | $1,800,598 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,876,198 |
| 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 | $91,713 |
| Net Land, buildings, and equipment | $6,400,000 |
| Investments—publicly traded securities | $50,752,773 |
| Investments—other securities | $9,296,225 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $71,137,146 |
| Accounts payable and accrued expenses | $287,876 |
| 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 | $1,205,500 |
| Total liabilities | $1,493,376 |
| 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 | $69,643,770 |
| Total liabilities and net assets/fund balances | $71,137,146 |