Liquor Salesmens Union Local 2 Insurance Trust Fund
- Assets
- $5.4m
- Revenue
- $905.4k
- Investments
- $273.8k
- Employees
- 1
- Location
- Brooklyn, NY
- Founding
- 02/1958
- Data as of
- 12/2021
- EIN
- 13-6118802
Organization Overview
Liquor Salesmens Union Local 2 Insurance Trust Fund is located in Brooklyn, NY. The organization was established in 1958. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liquor Salesmens Union Local 2 Insurance Trust 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, Liquor Salesmens Union Local 2 Insurance Trust Fund generated $905.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $715.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE DENTAL, OPTICAL, LONG-TERM DISABILITY AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS COVERED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE DENTAL, OPTICAL, LONG-TERM DISABILITY AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS COVERED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Young Former Union Trustee | Trustee | 1 | $0 |
George Orlando Former Union Trustee | Trustee | 1 | $0 |
Steven Meresman Former Employer Trustee | Trustee | 1 | $0 |
Robert Lento Employer Trustee | Trustee | 1 | $0 |
Stephen Booras Union Trustee | Trustee | 1 | $0 |
Matthew Mattassa Employer Trustee | Trustee | 1 | $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 | $729,681 |
| Investment income | $127,205 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $42,461 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $905,370 |
| 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 | $423,037 |
| 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 | $58,370 |
| Pension plan accruals and contributions | $10,096 |
| Other employee benefits | $13,237 |
| Payroll taxes | $3,813 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,709 |
| Fees for services: Accounting | $45,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,741 |
| Fees for services: Other | $5,400 |
| Advertising and promotion | $0 |
| Office expenses | $9,992 |
| Information technology | $18,618 |
| Royalties | $0 |
| Occupancy | $16,942 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,054 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $989 |
| All other expenses | $0 |
| Total functional expenses | $715,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $603,944 |
| Savings and temporary cash investments | $61,419 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,445 |
| 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 | $638 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,376,047 |
| Investments—other securities | $273,779 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,048 |
| Total assets | $5,353,320 |
| Accounts payable and accrued expenses | $47,449 |
| 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 | $39,214 |
| Total liabilities | $86,663 |
| 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 | $5,266,657 |
| Total liabilities and net assets/fund balances | $5,353,320 |