Bricklayers & Allied Craftworkers Local 5 New York Welfare Fund
- Assets
- $10.4m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Rego Park, NY
- Founding
- 04/1961
- Data as of
- 12/2021
- EIN
- 14-6022899
Organization Overview
Bricklayers & Allied Craftworkers Local 5 New York Welfare Fund is located in Rego Park, NY. The organization was established in 1961. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bricklayers & Allied Craftworkers Local 5 New York 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 12/2021, Bricklayers & Allied Craftworkers Local 5 New York Welfare Fund generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2021. 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
HEALTH CARE COVERAGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELIGIBLE MEMBERS AND DEPENDENTS WITH COVERAGE FOR MAJOR MEDICAL BENEFITS, HOSPITAL EXPENSES, DIAG. X-RAY, LAB FEES, SURGERY, MEDICAL FEES, VISION, AND DENTAL BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ross Pepe Employer Trustee | Trustee | 1 | $0 |
Alan Seidman Employer Trustee | Trustee | 1 | $0 |
Manuel Valente Union Trustee | Trustee | 1 | $0 |
Michael Clifford Union 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 | $2,424,837 |
| Investment income | $189,059 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $137,450 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,782,182 |
| 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 | $3,101,407 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $64,366 |
| Fees for services: Legal | $22,151 |
| Fees for services: Accounting | $39,694 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,239 |
| Fees for services: Other | $69,031 |
| Advertising and promotion | $0 |
| Office expenses | $34,227 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,126 |
| 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 | $3,158 |
| Insurance | $7,064 |
| All other expenses | $0 |
| Total functional expenses | $3,717,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,086,720 |
| Savings and temporary cash investments | $461,640 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $529,045 |
| 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 | $7,490 |
| Net Land, buildings, and equipment | $24,497 |
| Investments—publicly traded securities | $8,339,864 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,449,256 |
| Accounts payable and accrued expenses | $220,079 |
| 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 | $2,700,559 |
| Total liabilities | $2,920,638 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $7,528,618 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,449,256 |
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|---|---|---|
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International Brotherhood Of Electrical Workers Flushing, NY | $42,808,557 | $29,527,864 |
American Federation Of State County & Municipal Employees New York, NY | $5,666,474 | $18,719,600 |
Laboers International Union Of North America New York, NY | $82,959,218 | $20,599,249 |
Teamsters Local 97 Fund Clark, NJ | $4,130,996 | $17,509,914 |
International Union Of Operating Engineers 825 825 A&b Springfield, NJ | $42,119,361 | $15,523,159 |
Electrical Workers Local No 86 Insurance Fund Plan And Trust Rochester, NY | $26,301,983 | $18,525,409 |
International Brotherhood Of Electrical Workers Dorchester, MA | $20,226,169 | $18,660,825 |
International Union Of Painters And Allied Trades New York, NY | $30,422,741 | $16,478,287 |
International Brotherhood Of Teamsters New York, NY | $10,937,127 | $16,693,793 |
New York State Correctional Albany, NY | $26,423,975 | $18,262,137 |