Engineers Union Welfare Fund-68
- Assets
- $91.1m
- Revenue
- $51.4m
- Investments
- $0.0
- Employees
- 0
- Location
- W Caldwell, NJ
- Founding
- 06/1953
- Data as of
- 06/2021
- EIN
- 22-1550500
Organization Overview
Engineers Union Welfare Fund-68 is located in W Caldwell, NJ. The organization was established in 1953. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Engineers Union Welfare Fund-68 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2021, Engineers Union Welfare Fund-68 generated $51.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $46.3m during the year ending 06/2021. While expenses have increased by 2.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WELFARE BENEFIT PLAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
WELFARE FUND FOR THE PURPOSE OF PROVIDING HEALTH,PRESCRIPTION, DENTAL, VISION, LIFE INSURANCE AND SUPPLEMENTAL UNEMPLOYMENT AND DISABILITY FOR ELIGIBLE PLAN PARTICIPANTS PURSUANT TO A COLLECTIVE BARGAINING AGREEMENT.
WELFARE FUND FOR THE PURPOSE OF PROVIDING HEALTH,PRESCRIPTION, DENTAL, VISION AND LIFE INSURANCE FOR COVERED PARTICIPANTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas P Giblin Administrati | Officer | 5 | $0 |
Charles Mcdonald Trustee | Trustee | 1 | $0 |
Edward Boylan Trustee | Trustee | 1 | $0 |
Thomas Meister Trustee | Trustee | 1 | $0 |
Patrick Gilrane Trustee | Trustee | 1 | $0 |
Dolores Capetola Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,098 |
| 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 | $70,098 |
| Total Program Service Revenue | $43,589,639 |
| Investment income | $5,002,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,720,314 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,382,573 |
| 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 | $45,111,268 |
| 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 | $223,819 |
| Pension plan accruals and contributions | $93,452 |
| Other employee benefits | $59,998 |
| Payroll taxes | $17,523 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,000 |
| Fees for services: Accounting | $42,420 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $613,346 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $22,686 |
| Information technology | $41,807 |
| Royalties | $0 |
| Occupancy | $44,660 |
| Travel | $779 |
| 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 | $2,871 |
| Insurance | $37,477 |
| All other expenses | $0 |
| Total functional expenses | $46,348,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,230,478 |
| Savings and temporary cash investments | $3,599,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,100,494 |
| 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 | $83,222,746 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $976,268 |
| Total assets | $91,129,642 |
| Accounts payable and accrued expenses | $651,805 |
| 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 | $651,805 |
| 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 | $90,477,837 |
| Total liabilities and net assets/fund balances | $91,129,642 |