Iron Workers District Council Of Western Ny & Vicinity Welfare Plan
- Assets
- $6.1m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 6
- Location
- Rochester, NY
- Founding
- 04/1958
- Data as of
- 06/2023
- EIN
- 16-0776208
Organization Overview
Iron Workers District Council Of Western Ny & Vicinity Welfare Plan is located in Rochester, NY. The organization was established in 1958. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 06/2023, Iron Workers District Council Of Western NY & Vicinity Welfare Plan employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iron Workers District Council Of Western NY & Vicinity Welfare Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, Iron Workers District Council Of Western NY & Vicinity Welfare Plan generated $5.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $4.8m during the year ending 06/2023. While expenses have increased by 0.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE WELFARE BENEFITS TO UNION IRON WORKERS AND THEIR BENEFICIARIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WELFARE FUND PROVIDED SUPPLEMENTAL DISABILITY, MAJOR MEDICAL, HOSPITALIZATION, OPTICAL, PRESCRIPTION DRUG, DEATH BENEFITS AND WAGE REPLACEMENT BENEFITS TO ELIGIBLE MEMBERS OF PARTICIPATING IRON WORKERS UNIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Brydges Labor Truste | Trustee | 0 | $6,000 |
Tim Starwald Labor Truste | Trustee | 0 | $6,600 |
Robert Cole Labor Truste | Trustee | 0 | $1,800 |
Laurie Good Admin. Manag | Officer | 16 | $65,121 |
Tom Dickey Management T | Trustee | 0 | $0 |
Kelly Gilligan Management T | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Segal Consulting Actuarial | 6/29/23 | $136,695 |
Hcc Life Insurance Company Hospital | 6/29/23 | $132,091 |
Blitman & King Llp Attorney | 6/29/23 | $101,128 |
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 | $5,378,419 |
| Investment income | $108,946 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$128,682 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,744,625 |
| 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 | $3,337,602 |
| Compensation of current officers, directors, key employees. | $94,065 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $184,718 |
| Pension plan accruals and contributions | $39,534 |
| Other employee benefits | $40,781 |
| Payroll taxes | $20,549 |
| Fees for services: Management | $276,469 |
| Fees for services: Legal | $106,775 |
| Fees for services: Accounting | $54,180 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,765 |
| Fees for services: Other | $136,000 |
| Advertising and promotion | $0 |
| Office expenses | $53,985 |
| Information technology | $101,252 |
| Royalties | $0 |
| Occupancy | $48,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,353 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,307 |
| Insurance | $147,613 |
| All other expenses | $0 |
| Total functional expenses | $4,789,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264,610 |
| Savings and temporary cash investments | $599,983 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $803,674 |
| 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 | $55,300 |
| Net Land, buildings, and equipment | $19,820 |
| Investments—publicly traded securities | $4,290,509 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $108,896 |
| Total assets | $6,142,792 |
| Accounts payable and accrued expenses | $29,931 |
| Grants payable | $0 |
| Deferred revenue | $30,627 |
| 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 | $251,311 |
| Total liabilities | $311,869 |
| 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 | $5,830,923 |
| Total liabilities and net assets/fund balances | $6,142,792 |