N Y C District Council Carpenters Welfare Fund
- Assets
- $822.4m
- Revenue
- $410.4m
- Investments
- $565.4m
- Employees
- 108
- Location
- New York, NY
- Founding
- 11/1951
- Data as of
- 06/2023
- EIN
- 13-5615576
Organization Overview
N Y C District Council Carpenters Welfare Fund is located in New York, NY. 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 06/2023, N Y C District Council Carpenters Welfare Fund employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. N Y C District Council Carpenters 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 06/2023, N Y C District Council Carpenters Welfare Fund generated $410.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $450.4m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Meberg Emp Tste-Chairm | Trustee | 2 | $0 |
Kevin O'callaghan Emp Trustee | Trustee | 2 | $0 |
John Delollis Emp Trustee | Trustee | 2 | $0 |
Michael Salgo Emp Trustee | Trustee | 2 | $0 |
John O'hare Emp Trustee | Trustee | 2 | $0 |
Joseph Geiger Un Tste-Chairm | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Healthchoice Assurance Inc Health Claim Process | 6/29/23 | $5,209,059 |
Express Scripts Inc Prescr Claim Process | 6/29/23 | $2,920,734 |
Schultheis & Panettieri Llp Audit/pr Audit | 6/29/23 | $1,604,525 |
Novak Francella Llc Pr Audit | 6/29/23 | $1,246,234 |
Virginia & Ambinder Llp Legal Counsel | 6/29/23 | $981,692 |
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 | $408,832,431 |
| Investment income | $11,965,871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,487,421 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $410,408,937 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $336,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $436,274,679 |
| Compensation of current officers, directors, key employees. | $761,771 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,879,306 |
| Pension plan accruals and contributions | $980,022 |
| Other employee benefits | $1,168,585 |
| Payroll taxes | $277,335 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $870,643 |
| Fees for services: Accounting | $1,646,278 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,242,894 |
| Fees for services: Other | $576,198 |
| Advertising and promotion | $0 |
| Office expenses | $563,570 |
| Information technology | $579,118 |
| Royalties | $0 |
| Occupancy | $1,212,815 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,558 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $214,748 |
| Insurance | $250,451 |
| All other expenses | $0 |
| Total functional expenses | $450,381,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,312,790 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,521,221 |
| 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 | $352,384 |
| Investments—publicly traded securities | $195,253,501 |
| Investments—other securities | $565,361,348 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,552,241 |
| Total assets | $822,353,485 |
| Accounts payable and accrued expenses | $2,021,912 |
| 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 | $121,354,544 |
| Total liabilities | $123,376,456 |
| 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 | $698,977,029 |
| Total liabilities and net assets/fund balances | $822,353,485 |