Metal Trades Branch Local 638 Hospitalization & Welfare Fund
- Assets
- $44.0m
- Revenue
- $78.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Long Island City, NY
- Founding
- 05/1969
- Data as of
- 06/2022
- EIN
- 13-6211854
Organization Overview
Metal Trades Branch Local 638 Hospitalization & Welfare Fund is located in Long Island City, NY. The organization was established in 1969. 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. Metal Trades Branch Local 638 Hospitalization & 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 06/2022, Metal Trades Branch Local 638 Hospitalization & Welfare Fund generated $78.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $75.5m during the year ending 06/2022. While expenses have increased by 7.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND PROVIDES HEALTH COVERAGE AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS IN ACCORDANCE WITH THE RULES AND REGULATIONS OF THE FUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEFITS PAID TO OR FOR MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter J Ruffner Assistant Administrator | Officer | 14 | $90,054 |
Kevin J Driscoll Administrator | Officer | 4 | $47,883 |
Sean Driscoll It Director | 5 | $25,926 | |
James C White Assistant Administrator | 5 | $24,735 | |
William J Turnbull Controller | Officer | 2 | $19,647 |
Steven Cuadra Education Director | Officer | $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 | $77,944,850 |
| Investment income | $985,947 |
| 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 | $78,942,359 |
| 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 | $73,823,468 |
| Compensation of current officers, directors, key employees. | $157,584 |
| Compensation of current officers, directors, key employees. | $157,584 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $365,359 |
| Pension plan accruals and contributions | $163,218 |
| Other employee benefits | $144,658 |
| Payroll taxes | $34,951 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,935 |
| Fees for services: Accounting | $30,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $196,244 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $182,748 |
| Information technology | $1,899 |
| Royalties | $0 |
| Occupancy | $37,471 |
| Travel | $2,873 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,674 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $195,551 |
| Insurance | $59,052 |
| All other expenses | $0 |
| Total functional expenses | $75,468,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,293,715 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,427,180 |
| 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 | $27,155 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $35,276,631 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,024,681 |
| Accounts payable and accrued expenses | $36,233 |
| 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 | $4,983 |
| Total liabilities | $41,216 |
| 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 | $43,983,465 |
| Total liabilities and net assets/fund balances | $44,024,681 |