New York State United Teachers Member Benefits Tr
- Assets
- $84.9m
- Revenue
- $17.7m
- Investments
- $17.2m
- Employees
- 0
- Location
- Latham, NY
- Founding
- 11/1984
- Data as of
- 08/2022
- EIN
- 22-2480854
Organization Overview
New York State United Teachers Member Benefits Tr is located in Latham, NY. The organization was established in 1984. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York State United Teachers Member Benefits Tr is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 08/2022, New York State United Teachers Member Benefits Tr generated $17.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $11.2m during the year ending 08/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BE FIRST AND FOREMOST IN MINDS OF MEMBERS WHEN IT COMES TO INSURANCE, FINANCIAL, LEGAL AND OTHER SERVICES. THIS WILL OCCUR BY ENDORSING QUALITY PROGRAMS THAT ARE COMPETITIVELY PRICED AND ARE DESIGNED TO PROVIDE FINANCIAL EDUCATION AND SECURITY FOR MEMBERS AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOLUNTARY AND GROUP LEGAL SERVICE PLANPROVIDES LEGAL ASSISTANCE FOR LEGAL MATTERS. FOR THE YEAR ENDING 8/31/22, THERE WERE 129,580 PARTICIPANTS.
VOLUNTARY LIFEPROVIDES VOLUNTARY LIFE INSURANCE COVERAGE TO MEMBERS AND SPOUSES OR DOMESTIC PARTNERS. FOR THE YEAR ENDING 8/31/22, THERE WERE 80,553 PARTICIPANTS.
GROUP TERM LIFEPROVIDES TERM LIFE INSURANCE COVERAGE TO MEMBERS AND SPOUSES OR DOMESTIC PARTNERS. FOR THE YEAR ENDING 8/31/22, THERE WERE 16,302 PARTICIPANTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roderick Sherman Trustee-Secretary | OfficerTrustee | 2 | $0 |
J Philippe Abraham Trustee-Chair | OfficerTrustee | 17 | $0 |
Jeffrey Hartnett Director Of Member Benefits | Officer | 35 | $0 |
Loretta Donlon Trustee | Trustee | 2 | $0 |
Matthew Hill Trustee | Trustee | 2 | $0 |
Kevin Peterman Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benchemark Printing Inc Printing | 8/30/22 | $415,039 |
Davis Vision Claims & Premium Processing | 8/30/22 | $199,581 |
Pj Green Printing | 8/30/22 | $139,739 |
Stacey Braun Associates Inc Investment Advisor | 8/30/22 | $194,132 |
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 | $4,805,460 |
| Investment income | $1,635,448 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,944,874 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,673,136 |
| 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 | $4,311,186 |
| 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 | $1,989,077 |
| Pension plan accruals and contributions | $771,588 |
| Other employee benefits | $355,076 |
| Payroll taxes | $174,201 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,995 |
| Fees for services: Accounting | $51,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $240,664 |
| Fees for services: Other | $418,592 |
| Advertising and promotion | $1,173,406 |
| Office expenses | $77,210 |
| Information technology | $829,952 |
| Royalties | $0 |
| Occupancy | $456,738 |
| Travel | $10,287 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,171 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,588 |
| Insurance | $120,598 |
| All other expenses | $0 |
| Total functional expenses | $11,170,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,983,044 |
| Savings and temporary cash investments | $12,663,139 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,319,102 |
| 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 | $204,810 |
| Net Land, buildings, and equipment | $9,059 |
| Investments—publicly traded securities | $49,109,659 |
| Investments—other securities | $17,165,498 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $476,140 |
| Total assets | $84,930,451 |
| Accounts payable and accrued expenses | $8,897,286 |
| 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 | $26,725,347 |
| Total liabilities | $35,622,633 |
| 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 | $49,307,818 |
| Total liabilities and net assets/fund balances | $84,930,451 |
Endowment Analysis
| Beg. Balance | $25,663,850 |
| Net Contributions | $1,061,497 |
| Ending Balance | $26,725,347 |
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 |
United Brotherhood Of Carpenters & Joiners Of America Boston, MA | $146,178,722 | $53,186,412 |
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 |