Nysa-Ila Welfare Fund
- Assets
- $10.8m
- Revenue
- $20.2m
- Investments
- $0.0
- Employees
- 642
- Location
- Jersey City, NJ
- Founding
- 09/1956
- Data as of
- 12/2022
- EIN
- 13-5638505
Organization Overview
Nysa-Ila Welfare Fund is located in Jersey City, NJ. The organization was established in 1956. 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, Nysa-Ila Welfare Fund employed 642 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nysa-Ila 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 12/2022, Nysa-Ila Welfare Fund generated $20.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 25.4% each year . All expenses for the organization totaled $17.4m during the year ending 12/2022. While expenses have increased by 2.1% 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
THE FUND IS A MULTI-EMPLOYER WELFARE EMPLOYEE BENEFIT PLAN ESTABLISHED PURSUANT TO THE COLLECTIVE BARGAINING AGREEMENT BETWEEN THE NEW YORK SHIPPING ASSOCIATION AND THE INTERNATIONAL LONGSHOREMEN'S ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND ACCOMPLISHED ITS MISSION IN MEETING ITS OBLIGATION TO OFFER SURGICAL, MEDICAL, HOSPITAL CARE, DEATH AND DISMEMBERMENT, AND NON-OCCUPATIONAL DISABILITY BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Omiatek Director | 35 | $260,403 | |
Jennifer Freedberg-Berkoff Director | 35 | $213,221 | |
Jacqueline Scarpari Employee Adm Asst | 35 | $179,038 | |
Robert Fiore Employee Asst Adm | 35 | $167,476 | |
Elyse Levine Admin Assistant | 35 | $103,314 | |
John Nardi Trustee | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Managed Health Care Trust Fund Health Benefits | 12/30/22 | $5,386,083 |
Mazzola Mardon Pc Legal Services | 12/30/22 | $104,588 |
Metlife Insurance Provider | 12/30/22 | $3,937,644 |
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 | $19,963,109 |
| Investment income | $117,682 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,224,051 |
| 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 | $14,880,499 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $981,846 |
| Pension plan accruals and contributions | $141,424 |
| Other employee benefits | $174,769 |
| Payroll taxes | $88,429 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $189,775 |
| Fees for services: Accounting | $47,833 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $68,131 |
| Advertising and promotion | $0 |
| Office expenses | $12,763 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,043 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,038 |
| All other expenses | $2,567 |
| Total functional expenses | $17,425,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,000,300 |
| Savings and temporary cash investments | $523,704 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $665,856 |
| 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 | $7,626,342 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,816,202 |
| Accounts payable and accrued expenses | $3,170,421 |
| 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 | $0 |
| Total liabilities | $3,170,421 |
| 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 | $7,645,781 |
| Total liabilities and net assets/fund balances | $10,816,202 |