Southern Tier Building Trades Welfare Plan

Organization Overview

Southern Tier Building Trades Welfare Plan is located in Jamestown, NY. The organization was established in 1958. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 04/2023, Southern Tier Building Trades Welfare Plan employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Tier Building Trades 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 04/2023, Southern Tier Building Trades Welfare Plan generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $4.2m during the year ending 04/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE HEALTH AND WELFARE BENEFITS TO PARTICIPANTS IN PARTICIPATING UNIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HEALTH AND WELFARE BENEFITS WERE PROVIDED TO PLAN PARTICIPANTS.


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Board, Officers & Key Employees

Name (title)Compensation
Bradley Walters
Trustee
$0
Andrew Scalise
Trustee
$0
Nick Cummins
Trustee
$0
Edward Giardini Jr
Trustee
$0
George Harrigan
Trustee
$0
Thomas Lippert
Trustee
$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$3,412,141
Investment income $587,668
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $18,258
Net Gain/Loss on Asset Sales -$302,053
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,749,649

Peer Organizations

Organization NameAssets
Plumbers Local Union No 24 Welfare Fund
West Caldwell, NJ
$20,397,461
Connecticut Insurance Guaranty Association
Boston, MA
$10,278,713
Ohio State Plumbers And Pipefitters Welfare Fund
Harmony, PA
$22,623,023
Mrm Property And Liability Tr Inc
Sewickley, PA
$15,748,915
Rvc Insurance Company Inc
Rockville Centre, NY
$25,848,334
Stewart Employee Benefit Trust
York, PA
$17,234,438
Iuoe Local 25 Marine Division Medical Plan
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$23,371,925
Southern Painters Welfare Fund
Pittsburgh, PA
$24,493,514
Welfare Fund Heat And Frost Insulators Local 12
Long Island City, NY
$15,086,101
Giorgio Health & Welfare Plan
Temple, PA
$16,662,735
Granite Group Insurance Trust
Barre, VT
$15,954,866
Lufthansa German Airlines Long Term Disability Benefits Pl Tr
Uniondale, NY
$13,223,637
Centers For Care Health Plan co Bronx Funding LLC
Bronx, NY
$17,894,242
First Medical Insurance Compant A Risk Retention Group
Colchester, VT
$18,702,381
Workers Compensation Rating & Inspection Bureau Of Massachusetts
Boston, MA
$15,921,486
Nonprofit Employee Benefits Trust
Elizabeth, NJ
$15,191,722
Mutual Beneficial Association Inc
Berwyn, PA
$11,785,428
Bakers Union Local 453 Welfare Fund
Mount Kisco, NY
$11,690,505
Massachusetts Insurers Insolvency Fund
Boston, MA
$903,993
Insurance Fraud Bureau Of Massachusetts
Boston, MA
$10,994,650
Pmta-Ila Vacation Fund
Philadelphia, PA
$9,988,657
Itpe-Meba Nmu Annual Benefit Fund
Clark, NJ
$12,184,687
Virginia Property And Casualty Insurance Luaranty Association
Boston, MA
$3,018,278
Pittsburgh Building Owners Welfare Fund
Pittsburgh, PA
$9,615,189
Cement Masons-592 Welfare Fund
Philadelphia, PA
$12,607,217

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