Laborers Union-No 91 Welfare Fund
- Assets
- $5.6m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 3
- Location
- Niagara Falls, NY
- Founding
- 10/1963
- Data as of
- 05/2022
- EIN
- 16-0776158
Organization Overview
Laborers Union-No 91 Welfare Fund is located in Niagara Falls, NY. The organization was established in 1963. 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 05/2022, Laborers Union-No 91 Welfare Fund employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laborers Union-No 91 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 05/2022, Laborers Union-No 91 Welfare Fund generated $3.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $3.3m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 years. 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 PARTICIPANTS WITH HEALTH AND WELFARE BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDED BENEFITS TO ITS PARTICIPANTS, INCLUDING DEPENDENT CARE, HEALTH CARE, SCHOLARSHIP, VACATION, SUPPLEMENTAL UNEMPLOYMENT, MEDICAL INSURANCE, LIFE INSURANCE, AND EDUCATIONAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Grace Administrato | Officer | 14 | $95,714 |
Richard Palladino Trustee | Trustee | 4 | $0 |
Mario Neri Trustee | Trustee | 4 | $0 |
Randy Palladino Trustee | Trustee | 4 | $0 |
Angelo Massaro Trustee | Trustee | 4 | $0 |
Nicholas Yarussi Trustee | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $73,212 |
| 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 | $73,212 |
| Total Program Service Revenue | $3,575,662 |
| Investment income | $111,949 |
| 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 | $3,805,753 |
| 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 | $2,822,066 |
| Compensation of current officers, directors, key employees. | $194,226 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $64,753 |
| Pension plan accruals and contributions | $50,883 |
| Other employee benefits | $9,804 |
| Payroll taxes | $13,308 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,768 |
| Fees for services: Accounting | $50,489 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,158 |
| Fees for services: Other | $1,500 |
| Advertising and promotion | $0 |
| Office expenses | $16,883 |
| Information technology | $27,165 |
| Royalties | $0 |
| Occupancy | $19,440 |
| 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 | $4,271 |
| Insurance | $14,149 |
| All other expenses | $2,050 |
| Total functional expenses | $3,327,913 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,168,524 |
| Savings and temporary cash investments | $1,543,266 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $620,890 |
| 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 | $14,236 |
| Investments—publicly traded securities | $2,275,251 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,622,167 |
| Accounts payable and accrued expenses | $885 |
| 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 | $86,180 |
| Total liabilities | $87,065 |
| 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 | $5,535,102 |
| Total liabilities and net assets/fund balances | $5,622,167 |