Njbls Welfare Fund
- Assets
- $110.9m
- Revenue
- $43.1m
- Investments
- $4.4m
- Employees
- 26
- Location
- Jersey City, NJ
- Founding
- 08/1967
- Data as of
- 12/2021
- EIN
- 22-1764453
Organization Overview
Njbls Welfare Fund is located in Jersey City, NJ. The organization was established in 1967. 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, Njbls Welfare Fund employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Njbls Welfare Fund 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, Njbls Welfare Fund generated $43.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $46.3m during the year ending 12/2021. 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 OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Castrovinci Fund Admin - Eff 4/21-11/21 | Officer | 21 | $295,994 |
Kimberly Kemple Collections Mgr | 17 | $160,896 | |
Walkidia Staten Acctg Mgr | 21 | $107,120 | |
Betty Jo Lesonsky Fund Admin - Thru 4/21 | Officer | 21 | $65,981 |
Victoria Peterson-Mitchell Fund Admin - Eff 11/21 | Officer | 21 | $52,524 |
Raymond M Pocino Co-Chairman | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Schultheis & Panettieri Llp Auditing | 12/30/21 | $555,140 |
Kroll Heineman Ptasiewicz & Parsons Legal | 12/30/21 | $553,563 |
The Segal Company (Eastern States) Inc Actuarial Consulting | 12/30/21 | $216,169 |
United Health Care Services Inc Medical Service Fees | 12/30/21 | $902,156 |
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 | $40,582,382 |
| Investment income | $1,407,031 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $815,206 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,109,332 |
| 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 | $43,905,261 |
| Compensation of current officers, directors, key employees. | $497,253 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,220,621 |
| Pension plan accruals and contributions | $633,778 |
| Other employee benefits | $416,760 |
| Payroll taxes | $136,893 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $686,334 |
| Fees for services: Accounting | $509,445 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $153,136 |
| Fees for services: Other | $231,169 |
| Advertising and promotion | $0 |
| Office expenses | $227,660 |
| Information technology | $116,731 |
| Royalties | $0 |
| Occupancy | $62,650 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,475 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,978 |
| Insurance | $220,903 |
| All other expenses | $0 |
| Total functional expenses | $46,342,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,077,128 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,378,767 |
| 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 | $45,385 |
| Net Land, buildings, and equipment | $135,863 |
| Investments—publicly traded securities | $78,115,908 |
| Investments—other securities | $4,430,013 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $688,000 |
| Total assets | $110,871,064 |
| Accounts payable and accrued expenses | $1,623,249 |
| Grants payable | $0 |
| Deferred revenue | $143,427 |
| 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 | $17,567,648 |
| Total liabilities | $19,334,324 |
| 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 | $91,536,740 |
| Total liabilities and net assets/fund balances | $110,871,064 |