Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274
- Assets
- $15.1m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Hopatcong, NJ
- Founding
- 01/1958
- Data as of
- 12/2023
- EIN
- 22-1530864
Organization Overview
Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274 is located in Hopatcong, NJ. The organization was established in 1958. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274 generated $10.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $8.3m during the year ending 12/2023. While expenses have increased by 1.1% per year over the past 9 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
PROVIDE GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED GROUP HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Discoll Trustee | Trustee | 1 | $0 |
Chester Rozmus Trustee | Trustee | 1 | $0 |
Timothy Curran Trustee | Trustee | 1 | $0 |
Kevin Armistead-Armistead Mech Trustee | Trustee | 1 | $0 |
Marty Drobny - Mca Trustee | Trustee | 1 | $0 |
Robert Durrjr -Binskysnyder Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Basil Castrovinci Associates Tpa & Actuary | 12/30/23 | $244,192 |
Aetna Claims Processing | 12/30/23 | $186,914 |
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 | $10,403,734 |
| Investment income | $303,205 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,706,939 |
| 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 | $7,738,463 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,000 |
| Fees for services: Accounting | $31,535 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,840 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,472 |
| 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 | $0 |
| Insurance | $2,755 |
| All other expenses | $0 |
| Total functional expenses | $8,272,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,079,423 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,029,165 |
| 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 | $0 |
| Investments—publicly traded securities | $12,021,934 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,130,522 |
| Accounts payable and accrued expenses | $67,145 |
| 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 | $1,081,866 |
| Total liabilities | $1,149,011 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $13,981,511 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,130,522 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Suffolk County Municipal Employees Benefit Fund Bohemia, NY | $29,274,408 | $13,721,124 |
Stationary Engineers Fireman Mntnce & Bldg Srvc Union Loc 670 Wlfr Fnd New York, NY | $21,041,000 | $21,318,124 |
Wine And Liquor Salesmen Of Nj Local No 19d Welfare Fund Staten Island, NY | $144,173 | $8,576,577 |
Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274 Hopatcong, NJ | $15,130,522 | $10,706,939 |
Local 373 Ua Health & Welfare Fund Mountainville, NY | $14,948,259 | $8,392,827 |
District Council 37 Cultural Inst Health & Security Plan Tr New York, NY | $17,650,646 | $5,897,639 |
Harrison Teachers Benefits Harrison, NY | $1,098,905 | $931,979 |
Liquor Salesmens Union Local 2 Insurance Trust Fund Staten Island, NY | $5,037,842 | $884,064 |
American Guild Of Variety Artists General Sick And Relief Fund New York, NY | $1,074,693 | $31,006 |
Amalgamated Meatcutters & Retail Fd Store Emp Loc 342 Wel A&p Fund Mineola, NY | $218,773 | $0 |
Human Service Agencies Health Care Fund Elmira, NY | $1,204 | $0 |