Bricklayers Local 8 Welfare Fund
- Assets
- $2.5m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Ithaca, NY
- Founding
- 01/1962
- Data as of
- 04/2022
- EIN
- 16-6058900
Organization Overview
Bricklayers Local 8 Welfare Fund is located in Ithaca, NY. The organization was established in 1962. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bricklayers Local 8 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 04/2022, Bricklayers Local 8 Welfare Fund generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $1.5m during the year ending 04/2022. While expenses have increased by 2.3% per year over the past 7 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
TO PROVIDE MEDICAL, DENTAL AND EYECARE BENEFITS FOR MEMBERS OF LOCAL 8 AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDED MEDICAL, DENTAL AND EYECARE BENEFITS FOR MEMBERS OF LOCAL 8 AND THEIR FAMILIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Tilebein Fund Administrator | OfficerTrustee | 16 | $0 |
Duane Vorhis Trustee | Trustee | 0.5 | $0 |
Bradley Walters Trustee | Trustee | 0.5 | $0 |
Brian Edwards Trustee | Trustee | 0.5 | $0 |
Brett Sherman Trustee | Trustee | 0.5 | $0 |
Joshua Scott Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,714 |
| 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 | $10,714 |
| Total Program Service Revenue | $1,476,643 |
| Investment income | $73,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,475 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,631,654 |
| 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 | $1,354,852 |
| Compensation of current officers, directors, key employees. | $45,445 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,924 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,578 |
| Payroll taxes | $2,398 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,287 |
| Fees for services: Accounting | $25,663 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,459 |
| Fees for services: Other | $9,674 |
| Advertising and promotion | $0 |
| Office expenses | $2,112 |
| Information technology | $9,628 |
| Royalties | $0 |
| Occupancy | $2,640 |
| 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 | $482 |
| Insurance | $5,607 |
| All other expenses | $2,162 |
| Total functional expenses | $1,516,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,417 |
| Savings and temporary cash investments | $25,398 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $182,199 |
| 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 | $52,320 |
| Investments—publicly traded securities | $2,129,138 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,543,472 |
| Accounts payable and accrued expenses | $60,707 |
| 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 | $0 |
| Total liabilities | $60,707 |
| 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 | $2,482,765 |
| Total liabilities and net assets/fund balances | $2,543,472 |
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