Psc-Cuny Welfare Fund
- Assets
- $97.7m
- Revenue
- $46.8m
- Investments
- $0.0
- Employees
- 14
- Location
- Brooklyn, NY
- Founding
- 06/1967
- Data as of
- 06/2022
- EIN
- 13-6220695
Organization Overview
Psc-Cuny Welfare Fund is located in Brooklyn, NY. The organization was established in 1967. 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 06/2022, Psc-Cuny Welfare Fund employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Psc-Cuny 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, Psc-Cuny Welfare Fund generated $46.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $41.7m during the year ending 06/2022. While expenses have increased by 3.7% 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
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ALL QUALIFYING PLAN PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH COLLECTIVELY BARGAINED AGREEMENTS WITH THE CITY UNIVERSITY OF NEW YORK, THE FUND COLLECTS CONTRIBUTIONS AND PROVIDES HEALTH AND WELFARE BENEFITS FOR ALL QUALIFYING PLAN PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Costa Executive Director | Officer | 40 | $178,685 |
Greg Vagelatos Associate Director | 40 | $137,349 | |
Maite Perez Pharmacist | 40 | $115,522 | |
David Ocasio It Director | 40 | $112,935 | |
Raquel Nieves Data Analyst | 40 | $112,013 | |
Patrick Smith Communications Director | 40 | $111,140 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cvs Caremark Administrative Fees | 6/29/22 | $717,576 |
Guardian Life Insurance Service Fees | 6/29/22 | $703,390 |
Segal Consulting Claims Processing | 6/29/22 | $112,500 |
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 | $45,107,546 |
| Investment income | $1,696,584 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$111,804 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,782,965 |
| 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 | $38,375,818 |
| Compensation of current officers, directors, key employees. | $251,930 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,240,201 |
| Pension plan accruals and contributions | $280,833 |
| Other employee benefits | $345,613 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $89,350 |
| Fees for services: Accounting | $44,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $142,756 |
| Fees for services: Other | $362,476 |
| Advertising and promotion | $0 |
| Office expenses | $110,488 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $286,533 |
| Travel | $2,124 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,595 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,725 |
| Insurance | $75,213 |
| All other expenses | $69,097 |
| Total functional expenses | $41,746,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,367,551 |
| Savings and temporary cash investments | $6,995,320 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $268,936 |
| Net Land, buildings, and equipment | $543,781 |
| Investments—publicly traded securities | $76,531,608 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,952,275 |
| Total assets | $97,659,471 |
| Accounts payable and accrued expenses | $613,085 |
| 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 | $1,675,795 |
| Total liabilities | $2,288,880 |
| 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 | $95,370,591 |
| Total liabilities and net assets/fund balances | $97,659,471 |