Westchester Teamsters Municipal Employees Welfare Fund Local 456 is located in Elmsford, NY. The organization was established in 1982. 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. Westchester Teamsters Municipal Employees Welfare Fund Local 456 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Westchester Teamsters Municipal Employees Welfare Fund Local 456 generated $4.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. 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 PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS BY MUNICIPALITIES PROVIDE HEALTH AND WELFARE BENEFITS FOR THEIR EMPLOYEES AND THEIR ELIGIBLE DEPENDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Giuseppe Sindona Yonkers Trustee | Trustee | 1 | $0 |
Joseph Martimucci Yonkers Trustee | Trustee | 1 | $0 |
James Mcgrath Peekskill Blue Trustee | Trustee | 1 | $0 |
Louis A Picani Union Trustee | Trustee | 1 | $0 |
Dominick Cassanelli Jr Union Trustee | Trustee | 1 | $0 |
Joseph Sansone Union Trustee | Trustee | 1 | $0 |
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 | $1,920,739 |
Investment income | $589,664 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,475,432 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,985,835 |
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 | $1,403,134 |
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 | $65,359 |
Pension plan accruals and contributions | $10,806 |
Other employee benefits | $11,135 |
Payroll taxes | $5,437 |
Fees for services: Management | $0 |
Fees for services: Legal | $23,948 |
Fees for services: Accounting | $33,842 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $129,001 |
Fees for services: Other | $51,851 |
Advertising and promotion | $0 |
Office expenses | $21,200 |
Information technology | $15,632 |
Royalties | $0 |
Occupancy | $32,501 |
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 | $336 |
Insurance | $7,124 |
All other expenses | $0 |
Total functional expenses | $1,811,306 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $574,472 |
Savings and temporary cash investments | $0 |
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 | $0 |
Net Land, buildings, and equipment | $559 |
Investments—publicly traded securities | $23,571,674 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $81,378 |
Total assets | $24,228,083 |
Accounts payable and accrued expenses | $14,847 |
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 | $2,157,511 |
Total liabilities | $2,172,358 |
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 | $22,055,725 |
Total liabilities and net assets/fund balances | $24,228,083 |