I B Of T Welfare Fund-945
- Assets
- $27.1m
- Revenue
- $27.1m
- Investments
- $4.5m
- Employees
- 10
- Location
- Wayne, NJ
- Founding
- 07/1961
- Data as of
- 12/2021
- EIN
- 22-1644608
Organization Overview
I B Of T Welfare Fund-945 is located in Wayne, NJ. The organization was established in 1961. 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, I B Of T Welfare Fund-945 employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I B Of T Welfare Fund-945 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 Of T Welfare Fund-945 generated $27.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $27.1m during the year ending 12/2021. While expenses have increased by 2.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND WELFARE BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Oakes Fund Manager | Officer | 40 | $90,138 |
Antonio Petillo Trustee | Trustee | 1 | $19,500 |
David Baumann Trustee | Trustee | 1 | $0 |
Paxton Ryan Trustee | Trustee | 1 | $0 |
Richard Maio Trustee | Trustee | 1 | $0 |
Edward Manhertz 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 | $26,186,227 |
| Investment income | $726,389 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$23,375 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,085,020 |
| 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 | $25,529,528 |
| Compensation of current officers, directors, key employees. | $90,138 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $186,535 |
| Pension plan accruals and contributions | $23,569 |
| Other employee benefits | $81,889 |
| Payroll taxes | $7,788 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $76,184 |
| Fees for services: Accounting | $50,735 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $68,535 |
| Fees for services: Other | $773,349 |
| Advertising and promotion | $0 |
| Office expenses | $28,019 |
| Information technology | $47,462 |
| Royalties | $0 |
| Occupancy | $53,415 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,797 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,180 |
| Insurance | $14,454 |
| All other expenses | $0 |
| Total functional expenses | $27,060,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $913,350 |
| Savings and temporary cash investments | $992,517 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $362,331 |
| 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 | $8,276 |
| Net Land, buildings, and equipment | $6,957 |
| Investments—publicly traded securities | $18,346,150 |
| Investments—other securities | $4,452,171 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,011,683 |
| Total assets | $27,093,435 |
| Accounts payable and accrued expenses | $20,320 |
| 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 | $160,745 |
| Total liabilities | $181,065 |
| 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 | $26,912,370 |
| Total liabilities and net assets/fund balances | $27,093,435 |