I B E W Local 237 Welfare Fund
- Assets
- $10.3m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 191
- Location
- Niagara Falls, NY
- Founding
- 05/1996
- Data as of
- 12/2021
- EIN
- 16-0834222
Organization Overview
I B E W Local 237 Welfare Fund is located in Niagara Falls, NY. The organization was established in 1996. 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 12/2021, I B E W Local 237 Welfare Fund employed 191 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I B E W Local 237 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, I B E W Local 237 Welfare Fund generated $4.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% 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
TO PROVIDE MEMBERS WITH MEDICAL AND WELFARE BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES BENEFITS TO ITS MEMBERS, INCLUDING HOSPITALIZATION, MAJOR MEDICAL, PRESCRIPTION DRUG, HEALTH AND LIFE INSURANCE, DENTAL AND VISION CARE, VACATION, UNEMPLOYMENT SUB-PAY, DISABILITY SUB-PAY, WORKERS COMPENSATION SUB-PAY, EDUCATION, AND REIMBURSEMENT OF QUALIFYING MEDICAL EXPENSES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica M Westphal Fund Administrator | Officer | 26 | $67,529 |
Michael Prosser Union Trustee | Trustee | 1 | $14,850 |
Craig Polley Union Trustee | Trustee | 1 | $11,815 |
John Scherrer Union Trustee | Trustee | 1 | $5,644 |
Richard Lombard Management Trustee | Trustee | 1 | $0 |
Renee Lamonaco Management 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 | $4,499,384 |
| Investment income | $191,378 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $110,232 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,878,416 |
| 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 | $3,339,107 |
| 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 | $72,354 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,713 |
| Payroll taxes | $128,951 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,541 |
| Fees for services: Accounting | $27,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,519 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,325 |
| Information technology | $12,017 |
| Royalties | $0 |
| Occupancy | $21,224 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $338 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,391 |
| All other expenses | $0 |
| Total functional expenses | $3,674,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,756 |
| Savings and temporary cash investments | $1,419,154 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $484,797 |
| 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 | $51,025 |
| Investments—publicly traded securities | $8,254,708 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,293,440 |
| Accounts payable and accrued expenses | $7,858 |
| 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 | $196,996 |
| Total liabilities | $204,854 |
| 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 | $10,088,586 |
| Total liabilities and net assets/fund balances | $10,293,440 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Painters Welfare Fund Pittsburgh, PA | $17,172,930 | $23,602,516 |
Mutual Beneficial Association Inc Berwyn, PA | $132,759,628 | $20,036,739 |
Centers For Care Health Plan Bronx, NY | $49,972,187 | $33,212,808 |
Stewart Employee Benefit Trust York, PA | $728,219 | $17,071,502 |
Redners Voluntary Employees Benefit Plan And Trust Reading, PA | $695,082 | $16,941,479 |
Lufthansa German Airlines Long Term Disability Benefits Pl Tr Uniondale, NY | $2,508,054 | $15,798,770 |
Welfare Fund Heat And Frost Insulators Local 12 Long Island City, NY | $34,847,538 | $18,361,265 |
First Medical Insurance Compant A Risk Retention Group Colchester, VT | $102,134,145 | $15,354,853 |
Mrm Property And Liability Tr Inc Sewickley, PA | $33,998,884 | $14,896,339 |
Giorgio Health & Welfare Plan Temple, PA | $32,283 | $14,373,210 |
Centers For Care Health Plan co Bronx Funding LLC Bronx, NY | $25,788,041 | $17,894,242 |
Rvc Insurance Company Inc Rockville Centre, NY | $295,933,062 | $29,353,576 |