Local 153 Benefits Fund
- Assets
- $7.6m
- Revenue
- $400.9k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/1952
- Data as of
- 02/2022
- EIN
- 13-6110088
Organization Overview
Local 153 Benefits Fund is located in New York, NY. The organization was established in 1952. 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. Local 153 Benefits Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 02/2022, Local 153 Benefits Fund generated $400.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $536.5k during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (8.3%) per year over the past 7 years. 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 PLAN PROVIDES HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS AND BENEFICIARIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROVIDING OF BENEFITS TO ELIGIBLE PARTICIPANTS AND BENEFICIARIES. BENEFITS PROVIDED INCLUDE DENTAL, DISABILITY, OPTICAL AND LIFE INSURANCE.
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 |
|---|---|---|---|
Richard Lanigan Trustee | Trustee | 2 | $0 |
John Edmonds Trustee | Trustee | 2 | $0 |
Myra Hepburn Trustee | Trustee | 2 | $0 |
Lloyd Goldenberg Trustee | Trustee | 2 | $0 |
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 | $253,194 |
| Investment income | $147,753 |
| 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 | $400,947 |
| 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 | $237,879 |
| 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 | $24,686 |
| Pension plan accruals and contributions | $8,441 |
| Other employee benefits | $40,667 |
| Payroll taxes | $2,043 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,133 |
| Fees for services: Accounting | $38,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,000 |
| Fees for services: Other | $53,957 |
| Advertising and promotion | $0 |
| Office expenses | $2,005 |
| Information technology | $36,450 |
| Royalties | $0 |
| Occupancy | $10,318 |
| Travel | $0 |
| 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 | $50,900 |
| All other expenses | $0 |
| Total functional expenses | $536,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,507 |
| Savings and temporary cash investments | $28,054 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,995 |
| 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 | $82,557 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,422,712 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,460 |
| Total assets | $7,558,285 |
| Accounts payable and accrued expenses | $168,434 |
| 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 | $25,304 |
| Total liabilities | $193,738 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $7,364,547 |
| 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 | $7,558,285 |