Teamsters Local 97 Fund
- Assets
- $5.9m
- Revenue
- $17.0m
- Investments
- $0.0
- Employees
- 5
- Location
- Clark, NJ
- Founding
- 05/1974
- Data as of
- 07/2023
- EIN
- 22-2004832
Organization Overview
Teamsters Local 97 Fund is located in Clark, NJ. The organization was established in 1974. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 07/2023, Teamsters Local 97 Fund employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Local 97 Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 07/2023, Teamsters Local 97 Fund generated $17.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $15.2m during the year ending 07/2023. While expenses have increased by 0.7% per year over the past 8 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
TO PROVIDE HEALTH AND WELFARE BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HEALTH AND WELFARE BENEFITS TO PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Reiman Trustee | Trustee | 1 | $0 |
John Gerow Trustee | Trustee | 1 | $0 |
Maria Perez Trustee | Trustee | 1 | $0 |
Elaine Alessio Fund Manager | Officer | 37.5 | $131,821 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Horizon Blue Cross & Blue Shield Claims Administration | 7/30/23 | $937,876 |
Global Pharmaceutical Benefits Llc Claims Administration | 7/30/23 | $289,876 |
Fabian & Byrn Llc Claims Administration | 7/30/23 | $173,275 |
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 | $16,903,574 |
| Investment income | $54,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,682 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,998,514 |
| 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 | $12,817,932 |
| Compensation of current officers, directors, key employees. | $131,821 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $255,078 |
| Pension plan accruals and contributions | $58,035 |
| Other employee benefits | $94,083 |
| Payroll taxes | $34,782 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,260 |
| Fees for services: Accounting | $87,965 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,669 |
| Fees for services: Other | $1,546,687 |
| Advertising and promotion | $0 |
| Office expenses | $69,914 |
| Information technology | $40,818 |
| Royalties | $0 |
| Occupancy | $27,011 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,505 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,881 |
| Insurance | $10,464 |
| All other expenses | $0 |
| Total functional expenses | $15,227,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $889,587 |
| Savings and temporary cash investments | $1,758,106 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $158,662 |
| 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 | $20,439 |
| Net Land, buildings, and equipment | $44,295 |
| Investments—publicly traded securities | $846,113 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,144,875 |
| Total assets | $5,862,077 |
| Accounts payable and accrued expenses | $164,335 |
| 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 | $112,003 |
| Total liabilities | $276,338 |
| 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 | $5,585,739 |
| Total liabilities and net assets/fund balances | $5,862,077 |