United Wire Metal & Machine Health & Welfare Fund
- Assets
- $104.8m
- Revenue
- $37.3m
- Investments
- $41.2m
- Employees
- 21
- Location
- Long Island City, NY
- Founding
- 05/1953
- Data as of
- 12/2021
- EIN
- 13-5608135
Organization Overview
United Wire Metal & Machine Health & Welfare Fund is located in Long Island City, NY. The organization was established in 1953. 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, United Wire Metal & Machine Health & Welfare Fund employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Wire Metal & Machine Health & Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, United Wire Metal & Machine Health & Welfare Fund generated $37.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $40.0m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, ITEM 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS. THE NUMBER OF PARTICIPANTS SERVICED WAS APPROXIMATELY 2,800.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosanna Furio Fund Manager | 13 | $192,104 | |
Lorraine Buonacore Administrator | Officer | 26 | $191,007 |
Matthew Scher Office Manager / Clerical | 19 | $151,431 | |
Mark Pepgjonaj Maintenance Supervisor | 1 | $112,755 | |
Wanda Lozano Reception/office Manager | 3 | $109,771 | |
Peter Ajalat Employer Trustee | Trustee | 1 | $7,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Proskauer Rose Llp Legal | 12/30/15 | $444,248 |
Whitestar Advisors Llc Investment Advisor | 12/30/15 | $381,212 |
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 | $27,489,277 |
| Investment income | $1,036,061 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,440,363 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,317,789 |
| 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 | $35,963,130 |
| Compensation of current officers, directors, key employees. | $240,825 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,675,073 |
| Pension plan accruals and contributions | $319,772 |
| Other employee benefits | $174,915 |
| Payroll taxes | $146,857 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100,250 |
| Fees for services: Accounting | $74,646 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $510,557 |
| Fees for services: Other | $71,860 |
| Advertising and promotion | $0 |
| Office expenses | $89,975 |
| Information technology | $19,801 |
| Royalties | $0 |
| Occupancy | $97,815 |
| Travel | $3,923 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,501 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,283 |
| Insurance | $200,353 |
| All other expenses | $0 |
| Total functional expenses | $39,995,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,182,144 |
| Savings and temporary cash investments | $326,266 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,613,245 |
| 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 | $22,843 |
| Net Land, buildings, and equipment | $12,793 |
| Investments—publicly traded securities | $51,729,047 |
| Investments—other securities | $41,153,246 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $776,831 |
| Total assets | $104,816,415 |
| Accounts payable and accrued expenses | $437,593 |
| 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 | $643,699 |
| Total liabilities | $1,081,292 |
| 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 | $103,735,123 |
| Total liabilities and net assets/fund balances | $104,816,415 |