Massachusetts Public Employees Health & Welfare Fund
- Assets
- $74.5m
- Revenue
- $29.8m
- Investments
- $0.0
- Employees
- 19
- Location
- Peabody, MA
- Founding
- 11/1985
- Data as of
- 06/2022
- EIN
- 22-2618894
Organization Overview
Massachusetts Public Employees Health & Welfare Fund is located in Peabody, MA. The organization was established in 1985. As of 06/2022, Massachusetts Public Employees Health & Welfare Fund employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Public Employees Health & 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 06/2022, Massachusetts Public Employees Health & Welfare Fund generated $29.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $25.5m during the year ending 06/2022. While expenses have increased by 0.2% 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 PROVIDE & ADMINISTER BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AND ADMINISTER THE PLANS OF DENTAL AND VISION BENEFITS FOR AN ESTIMATED 33,000 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Bernard Trustee/co-Chair | Trustee | 2 | $0 |
Matthew Hale Trustee/co-Chair | Trustee | 2 | $0 |
Linda Deluca Trustee | Trustee | 2 | $0 |
Cheri Antelo Trustee | Trustee | 2 | $0 |
Matthew Kane Trustee | Trustee | 2 | $0 |
Michael Murray Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Delta Dental Dental Administration | 6/29/22 | $1,250,863 |
Anchor Capital Advisors Llc Investment Management | 6/29/22 | $226,898 |
Davis Vision Vision Administration | 6/29/22 | $104,338 |
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 | $27,584,217 |
| Investment income | $1,252,705 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,004,686 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,841,958 |
| 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 | $22,337,564 |
| Compensation of current officers, directors, key employees. | $142,768 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,150,873 |
| Pension plan accruals and contributions | $85,722 |
| Other employee benefits | $124,028 |
| Payroll taxes | $115,497 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,000 |
| Fees for services: Accounting | $38,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $225,991 |
| Fees for services: Other | $61,500 |
| Advertising and promotion | $0 |
| Office expenses | $233,497 |
| Information technology | $72,777 |
| Royalties | $0 |
| Occupancy | $284,339 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,890 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $317,706 |
| Insurance | $46,126 |
| All other expenses | $55,082 |
| Total functional expenses | $25,497,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $112,556 |
| Savings and temporary cash investments | $11,669,356 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,398,728 |
| 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 | $46,803 |
| Net Land, buildings, and equipment | $1,140,182 |
| Investments—publicly traded securities | $55,889,882 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $200,067 |
| Total assets | $74,457,574 |
| Accounts payable and accrued expenses | $469,292 |
| 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 | $4,354,147 |
| Total liabilities | $4,823,439 |
| 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 | $69,634,135 |
| Total liabilities and net assets/fund balances | $74,457,574 |