Teamsters Welfare Fund Of Northern N J Local 723
- Assets
- $33.7m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 2
- Location
- Union, NJ
- Founding
- 04/1964
- Data as of
- 12/2021
- EIN
- 22-1736275
Organization Overview
Teamsters Welfare Fund Of Northern N J Local 723 is located in Union, NJ. The organization was established in 1964. 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, Teamsters Welfare Fund Of Northern N J Local 723 employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Welfare Fund Of Northern N J Local 723 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, Teamsters Welfare Fund Of Northern N J Local 723 generated $6.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. While expenses have increased by 4.4% 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
PROVIDE HEALTH & LEGAL BENEFITS TO PLAN PARTICIPANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HEALTH BENEFITS TO PLAN PARTICIPANTS
PROVIDE HEALTH BENEFITS TO PLAN PARTICIPANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robin Modzelewski Fund Adminis | 40 | $126,560 | |
John Humphrey Trustee | Trustee | 5 | $20,400 |
Bruce Bier Trustee | Trustee | 5 | $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 | $5,596,072 |
| Investment income | $567,184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $639,459 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,802,715 |
| 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 | $4,085,446 |
| 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 | $192,727 |
| Pension plan accruals and contributions | $65,217 |
| Other employee benefits | $22,440 |
| Payroll taxes | $15,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,578 |
| Fees for services: Accounting | $36,995 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $250,544 |
| Fees for services: Other | $45,400 |
| Advertising and promotion | $0 |
| Office expenses | $12,897 |
| Information technology | $1,416 |
| Royalties | $0 |
| Occupancy | $15,703 |
| Travel | $1,625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,731 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,589 |
| Insurance | $9,684 |
| All other expenses | $464 |
| Total functional expenses | $4,819,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,025 |
| Savings and temporary cash investments | $3,664 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $279,338 |
| 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 | $19,033 |
| Investments—publicly traded securities | $33,046,691 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,746 |
| Total assets | $33,664,497 |
| Accounts payable and accrued expenses | $797,952 |
| 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 | $143,595 |
| Total liabilities | $941,547 |
| 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 | $32,722,950 |
| Total liabilities and net assets/fund balances | $33,664,497 |