Teamsters Local 97 Fund
- Assets
- $4.1m
- Revenue
- $17.5m
- Investments
- $0.0
- Employees
- 4
- Location
- Clark, NJ
- Founding
- 05/1974
- Data as of
- 07/2021
- 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 07/2021, Teamsters Local 97 Fund employed 4 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 07/2021, Teamsters Local 97 Fund generated $17.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $17.0m during the year ending 07/2021. While expenses have increased by 2.8% 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
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 |
|---|---|---|---|
Elaine Alessio Fund Manager | Officer | 37.5 | $123,787 |
John Gerow Trustee | Trustee | 1 | $0 |
Daniel Reiman Trustee | Trustee | 1 | $0 |
Maria Perez Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Horizon Blue Cross & Blue Shield Claims Administration | 7/30/21 | $793,033 |
Global Pharmaceutical Benefits Llc Claims Administration | 7/30/21 | $338,144 |
Fabian & Byrn Llc Claims Administration | 7/30/21 | $168,805 |
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 | $17,363,728 |
| Investment income | $24,959 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,327 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,509,914 |
| 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 | $14,818,825 |
| Compensation of current officers, directors, key employees. | $123,787 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $178,349 |
| Pension plan accruals and contributions | $39,857 |
| Other employee benefits | $70,880 |
| Payroll taxes | $28,350 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,600 |
| Fees for services: Accounting | $95,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,618 |
| Fees for services: Other | $1,407,629 |
| Advertising and promotion | $0 |
| Office expenses | $40,741 |
| Information technology | $71,138 |
| Royalties | $0 |
| Occupancy | $26,563 |
| Travel | $0 |
| 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 | $12,884 |
| Insurance | $11,967 |
| All other expenses | $5,532 |
| Total functional expenses | $16,955,565 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,282,561 |
| Savings and temporary cash investments | $219,048 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,930 |
| 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 | $18,178 |
| Net Land, buildings, and equipment | $64,793 |
| Investments—publicly traded securities | $902,313 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $638,173 |
| Total assets | $4,130,996 |
| Accounts payable and accrued expenses | $174,464 |
| 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 | $167 |
| Total liabilities | $174,631 |
| 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 | $3,956,365 |
| Total liabilities and net assets/fund balances | $4,130,996 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Federation Of State County & Municipal Employees New York, NY | $77,027,109 | $53,363,394 |
New York State Nurses Association New York, NY | $106,360,017 | $53,864,397 |
Cement & Concrete Workers District Council Welfare Fund Flushing, NY | $115,712,146 | $34,540,506 |
Service Employees International Union Albany, NY | $31,308,144 | $40,993,536 |
Major League Baseball Players Assn New York, NY | $280,679,317 | $145,511,307 |
United Brotherhood Of Carpenters & Joiners Of America New York, NY | $64,514,321 | $30,390,224 |
American Federation Of State County & Municipal Employees Harrisburg, PA | $13,029,415 | $28,034,126 |
Enterprise Association Local 638 Long Island City, NY | $80,989,566 | $29,703,227 |
United University Professions Benefit Trust Fund Albany, NY | $81,922,697 | $45,334,954 |
Transport Workers Union Of America Brooklyn, NY | $13,886,848 | $35,125,762 |
International Alliance Theatrical Stage Employees New York, NY | $95,540,739 | $36,594,534 |
Hotel And Gaming Trades Council Afl-Cio New York, NY | $55,965,580 | $24,291,785 |