Metal Trades Branch Local 638 Hospitalization & Welfare Fund
- Assets
- $46.9m
- Revenue
- $81.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Long Island City, NY
- Founding
- 05/1969
- Data as of
- 06/2023
- 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 06/2023, Metal Trades Branch Local 638 Hospitalization & Welfare Fund generated $81.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $79.3m during the year ending 06/2023. While expenses have increased by 3.7% per year over the past 4 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
2023
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 |
|---|---|---|---|
William J Turnbull Executive Administtrator | Officer | 2 | $21,386 |
Steven Cuadra Education Director | Officer | $0 | |
James Ippolito Assistant Administrator | Officer | 1 | $8,348 |
James C White Assistant Administrator | Officer | 9 | $55,077 |
Jason Grecco Instructor | $0 | ||
Stephen Powers Instructor | $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 | $80,138,452 |
| Investment income | $1,391,387 |
| 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 | $81,556,463 |
| 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 | $77,770,727 |
| Compensation of current officers, directors, key employees. | $84,811 |
| Compensation of current officers, directors, key employees. | $84,811 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $347,143 |
| Pension plan accruals and contributions | $134,395 |
| Other employee benefits | $105,371 |
| Payroll taxes | $30,670 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $79,091 |
| Fees for services: Accounting | $31,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $182,609 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $236,808 |
| Information technology | $874 |
| Royalties | $0 |
| Occupancy | $35,424 |
| Travel | $1,516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,697 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $179,439 |
| Insurance | $61,056 |
| All other expenses | $0 |
| Total functional expenses | $79,284,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,666,566 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,638,671 |
| 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 | $28,823 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $38,567,785 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,901,845 |
| Accounts payable and accrued expenses | $66,855 |
| 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 | $18,719 |
| Total liabilities | $85,574 |
| 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 | $46,816,271 |
| Total liabilities and net assets/fund balances | $46,901,845 |