Trucking Employees Of North Jersey Welfare Fund Inc
- Assets
- $37.6m
- Revenue
- $19.0m
- Investments
- $3.4m
- Employees
- 23
- Location
- Union City, NJ
- Founding
- 03/1950
- Data as of
- 12/2021
- EIN
- 22-1461069
Organization Overview
Trucking Employees Of North Jersey Welfare Fund Inc is located in Union City, NJ. The organization was established in 1950. 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 12/2021, Trucking Employees Of North Jersey Welfare Fund Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trucking Employees Of North Jersey Welfare Fund Inc 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, Trucking Employees Of North Jersey Welfare Fund Inc generated $19.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $20.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Blumenfeld Fund Administrator | Officer | 12 | $236,374 |
Brian Mccloskey Controller | 8 | $178,209 | |
Edwin H Stier Union Trustee | Trustee | 1 | $2,284 |
Anthony Valdner Union Trustee | Trustee | 2 | $0 |
Lamar E Beinhower Employer Trustee | Trustee | 1 | $0 |
George Kreis Employer Trustee - Former | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Horizon Blue Cross Blue Shield Health Care Provider | 12/30/21 | $460,023 |
Segal Company Actuary | 12/30/21 | $144,313 |
Change Healthcare Solutions Llc Claims Repricing Agent | 12/30/21 | $271,943 |
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 | $14,281,906 |
| Investment income | $906,408 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,103,484 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,951,458 |
| 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 | $18,111,829 |
| Compensation of current officers, directors, key employees. | $298,936 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $371,589 |
| Pension plan accruals and contributions | $160,147 |
| Other employee benefits | $207,603 |
| Payroll taxes | $48,424 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $175,843 |
| Fees for services: Accounting | $41,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,469 |
| Fees for services: Other | $155,411 |
| Advertising and promotion | $0 |
| Office expenses | $100,741 |
| Information technology | $167,495 |
| Royalties | $0 |
| Occupancy | $89,147 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $165 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,080 |
| Insurance | $30,883 |
| All other expenses | $786 |
| Total functional expenses | $20,031,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,275,404 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,060,213 |
| 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 | $17,627 |
| Net Land, buildings, and equipment | $13,731 |
| Investments—publicly traded securities | $29,849,439 |
| Investments—other securities | $3,391,317 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $946,975 |
| Total assets | $37,554,706 |
| Accounts payable and accrued expenses | $178,678 |
| 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 | $2,767,017 |
| Total liabilities | $2,945,695 |
| 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 | $34,609,011 |
| Total liabilities and net assets/fund balances | $37,554,706 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Granite State Electric Company Postretirement Benefit Trust For Pittsburgh, PA | $1,127,925,500 | $332,837,993 |
Dist Council Iron Workers Welfare Fund Of Northern New Jersey Springfield, NJ | $71,862,811 | $39,989,422 |
Veba Trust For Union Employees Of Keyspan Corporation Pittsburgh, PA | $1,069,869,045 | $310,728,868 |
Health Reimbursement Account Fund Of The Electrical Industry Flushing, NY | $132,750,726 | $42,957,769 |
Ufcw Local 1776ks Wd And Employers Health Fund Canonsburg, PA | $57,492,418 | $45,036,946 |
Gte Bargained Retired Group Insurance Plan Pittsburgh, PA | $581,895,835 | $94,164,252 |
The Alliance Of Western New York Benefit Fund Niagara Falls, NY | $6,976,289 | $46,952,966 |
Engineers Union Welfare Fund-68 W Caldwell, NJ | $91,129,642 | $51,382,573 |
Njbls Welfare Fund Jersey City, NJ | $110,871,064 | $43,109,332 |
Noitu Insurance Trust Fund Jamaica, NY | $148,755,855 | $71,536,431 |
Service Employees 32bj North Health Fund New York, NY | $54,056,871 | $50,215,103 |
Northeast Pennsylvania Sch Dist Tr Edwardsville, PA | $25,318,463 | $48,080,528 |