Seafarers Health And Benefits Plan

Organization Overview

Seafarers Health And Benefits Plan is located in Camp Springs, MD. The organization was established in 1951. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seafarers Health And Benefits Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 12/2022, Seafarers Health And Benefits Plan generated $129.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $87.4m during the year ending 12/2022. While expenses have increased by 2.8% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PAY HEALTH AND WELFARE BENEFITS TO PARTICIPANTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FUND PROVIDES HEALTH AND WELFARE BENEFITS TO APPROXIMATELY 7,100 UNION MEMBERS AND THEIR DEPENDENTS; AS WELL AS PROVIDING SIMILAR BENEFITS TO APPROXIMATELY 1,400 RETIRED UNION MEMBERS AND THEIR DEPENDENTS.


UNDER THE FUND'S MEDICAL EXAMINATION PROGRAM THE FUND PROVIDES FOR PHYSICAL EXAMINATIONS AND DRUG SCREENING TESTS NECESSARY TO ENABLE THE APPROXIMATELY 7,100 UNION MEMBERS TO WORK IN COVERED EMPLOYMENT.


THE FUND PROVIDES OTHER ANCILLARY BENEFITS INCLUDING RECREATIONAL BENEFITS AT APPROXIMATELY 20 LOCATIONS THROUGHOUT THE UNITED STATES AND US TERRITORIES AND SCHOLARSHIP BENEFITS TO DEPENDENTS OF THE UNION MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Dean Corgey
Trustee
$0
David Heindel
Trustee
$0
Nicholas Marrone
Trustee
$0
Thomas Orzechowski
Trustee
$0
Joseph Soresi
Trustee
$0
George Tricker
Trustee
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cigna Health & Life Insurance
Claims Processor
$2,339,971
Out Of Network Savings Program
Claims Processor
$815,946
Asb Capital Management
Investment Manager
$799,028
Dr Schaub
Consultant
$316,164
Amwins Rx
Claims Processor
$218,063
View All Vendors

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$124,404,164
Investment income $7,255,205
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$3,193,651
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $129,192,451

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National Automatic Sprinkler Industry Welfare Fund
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Eastern Atlantic States Carpenters Health Fund
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BELL ATLANTIC RETIREE LIFE INSURANCE PLAN trust
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Lincoln Benefit Trust
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United States Steel Corporation Retiree Insurance Benefits Trust
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$166,124,065
Retirees Of The Goodyear Tire & Rubber Company Health Care Tr
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$150,111,700
Voluntary Employees Beneficiary Association For The General Mills
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-$5,618,816
Sodexho Inc
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$150,279,938
Felra And Ufcw Health And Welfare Fund
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$128,808,545
District Council 33 Health-Welfare
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$183,039,494
Central Pennsylvania Teamsters Health And Welfare Fund
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Electrical Welfare Trust Fund
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The John Hopkins Univ Applied Phys Lab Medical & Dental Insurance
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$121,098,543
The Deere & Company Welfare Benefit Veba For Salaried Employees
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$1,183,141,603
P G & E Post Retirement Med Pl Tr Non-Mgmt Employees & Retirees
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-$108,406,194

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