M M & P Health & Benefit Fund
- Assets
- $53.7m
- Revenue
- $76.9m
- Investments
- $39.1m
- Employees
- 45
- Location
- Linthicum Heights, MD
- Founding
- 11/1951
- Data as of
- 12/2022
- EIN
- 13-5565128
Organization Overview
M M & P Health & Benefit Fund is located in Linthicum Heights, 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. As of 12/2022, M M & P Health & Benefit Fund employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. M M & P Health & Benefit Fund 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, M M & P Health & Benefit Fund generated $76.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $78.3m during the year ending 12/2022. While expenses have increased by 4.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS AND BENEFICIARIES AS SPECIFIED IN THE PLAN REGULATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES FOR PROVIDING MEDICAL, LEGAL, HEALTH AND RELATED BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Capt Donald Marcus Trustee, Chairman | OfficerTrustee | 2 | $0 |
Capt Kenneth Carlson Jr Trustee | Trustee | 1 | $0 |
Mr Edward Morgan Trustee, Secretary, Treasu | OfficerTrustee | 2 | $0 |
Capt John W Sullivan Trustee | Trustee | 1 | $0 |
Mr Donald Josberger Trustee | Trustee | 1 | $0 |
Mr Ed Hanley Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cigna Medical Claims Processing | 12/30/22 | $1,384,037 |
Slevin & Hart Legal Services | 12/30/22 | $615,639 |
Delta Dental Dental Claims Processing | 12/30/22 | $246,767 |
Multiplan Medical Claims Processing | 12/30/22 | $238,842 |
Iomm&p Administrative Services | 12/30/22 | $197,547 |
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 | $75,473,925 |
| Investment income | $1,477,715 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$54,725 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $76,896,915 |
| 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 | $73,589,521 |
| Compensation of current officers, directors, key employees. | $681,679 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,262,189 |
| Pension plan accruals and contributions | $198,527 |
| Other employee benefits | $423,749 |
| Payroll taxes | $129,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $280,311 |
| Fees for services: Accounting | $57,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,940 |
| Fees for services: Other | $523,945 |
| Advertising and promotion | $0 |
| Office expenses | $445,904 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $250,595 |
| Travel | $323 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,336 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,448 |
| Insurance | $41,721 |
| All other expenses | $4,551 |
| Total functional expenses | $78,313,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,936 |
| Savings and temporary cash investments | $5,771,471 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,701,297 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $39,065,654 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $53,700,358 |
| Accounts payable and accrued expenses | $549,166 |
| 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 | $1,781,938 |
| Total liabilities | $2,331,104 |
| Net assets without donor restrictions | $51,369,254 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $53,700,358 |