Plumbers & Steamfitters Local 267 Insurance Fund
- Assets
- $34.2m
- Revenue
- $11.3m
- Investments
- $6.9m
- Employees
- 11
- Location
- Syracuse, NY
- Founding
- 02/1958
- Data as of
- 12/2022
- EIN
- 15-6025166
Organization Overview
Plumbers & Steamfitters Local 267 Insurance Fund is located in Syracuse, NY. The organization was established in 1958. 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 12/2022, Plumbers & Steamfitters Local 267 Insurance Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers & Steamfitters Local 267 Insurance Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Plumbers & Steamfitters Local 267 Insurance Fund generated $11.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $11.1m during the year ending 12/2022. While expenses have increased by 4.4% per year over the past 8 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
EMPLOYEE BENEFITS FUND
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM PROVIDES HEALTH, DENTAL, AND LIFE INSURANCE BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Dineen Employer Trustee | Trustee | 0.2 | $0 |
Steve Perry Employer Trustee | Trustee | 0.2 | $0 |
Patrick Bonnell Employer Trustee | Trustee | 0.2 | $0 |
Earl Hall Employer Trustee | Trustee | 0.2 | $0 |
Mark Staub Employer Trustee | Trustee | 0.2 | $0 |
Gregory Lancette Union Trustee | Trustee | 0.5 | $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 | $9,952,658 |
| Investment income | $729,871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $380,741 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,279,730 |
| 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 | $10,226,570 |
| 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 | $225,411 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $152,150 |
| Payroll taxes | $20,779 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,344 |
| Fees for services: Accounting | $48,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,423 |
| Fees for services: Other | $17,000 |
| Advertising and promotion | $0 |
| Office expenses | $15,313 |
| Information technology | $46,147 |
| Royalties | $0 |
| Occupancy | $7,152 |
| 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 | $224 |
| Insurance | $15,609 |
| All other expenses | $0 |
| Total functional expenses | $11,129,689 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $773,185 |
| Savings and temporary cash investments | $1,252,649 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,089,280 |
| 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 | $1,784 |
| Net Land, buildings, and equipment | $1,140 |
| Investments—publicly traded securities | $24,125,805 |
| Investments—other securities | $6,861,830 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $139,788 |
| Total assets | $34,245,461 |
| Accounts payable and accrued expenses | $75,840 |
| 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 | $215,216 |
| Total liabilities | $291,056 |
| 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 | $33,954,405 |
| Total liabilities and net assets/fund balances | $34,245,461 |