Teamsters Industrial Employees
- Assets
- $46.6m
- Revenue
- $22.1m
- Investments
- $5.7m
- Employees
- 0
- Location
- Union City, NJ
- Founding
- 03/1965
- Data as of
- 12/2021
- EIN
- 22-6058341
Organization Overview
Teamsters Industrial Employees is located in Union City, NJ. The organization was established in 1965. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Industrial Employees 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, Teamsters Industrial Employees generated $22.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $16.3m during the year ending 12/2021. While expenses have increased by 0.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin H Stier Union Trustee | Trustee | 1 | $978 |
Robert Blumenfeld Fund Administrator | Officer | 11 | $0 |
Anthony Valdner Union Trustee | Trustee | 2 | $0 |
Charles T Connors Employer Trustee | Trustee | 1 | $0 |
Richard Goldberg Employer Trustee | Trustee | 1 | $0 |
Louis Rodriguez Union Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Horizon Blue Cross Blue Shield Health Care Provider | 12/30/21 | $663,770 |
Change Healthcare Solutions Llc Claims Repricing Agent | 12/30/21 | $304,741 |
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 | $19,223,831 |
| Investment income | $1,006,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,149,472 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,098,509 |
| 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 | $14,948,822 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,311 |
| Fees for services: Accounting | $32,120 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $75,446 |
| Fees for services: Other | $89,175 |
| Advertising and promotion | $0 |
| Office expenses | $3,180 |
| Information technology | $19,317 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $71 |
| 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 | $4,968 |
| Insurance | $2,574 |
| All other expenses | $0 |
| Total functional expenses | $16,329,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,438,049 |
| Savings and temporary cash investments | $1,848,300 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,772,635 |
| 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 | $13,284 |
| Net Land, buildings, and equipment | $9,038 |
| Investments—publicly traded securities | $32,837,547 |
| Investments—other securities | $5,749,687 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $965,952 |
| Total assets | $46,634,492 |
| Accounts payable and accrued expenses | $220,435 |
| 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 | $2,916,572 |
| Total liabilities | $3,137,007 |
| 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 | $43,497,485 |
| Total liabilities and net assets/fund balances | $46,634,492 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Granite State Electric Company Postretirement Benefit Trust For Pittsburgh, PA | $1,127,925,500 | $332,837,993 |
Dist Council Iron Workers Welfare Fund Of Northern New Jersey Springfield, NJ | $71,862,811 | $39,989,422 |
Veba Trust For Union Employees Of Keyspan Corporation Pittsburgh, PA | $1,069,869,045 | $310,728,868 |
Health Reimbursement Account Fund Of The Electrical Industry Flushing, NY | $132,750,726 | $42,957,769 |
Ufcw Local 1776ks Wd And Employers Health Fund Canonsburg, PA | $57,492,418 | $45,036,946 |
Gte Bargained Retired Group Insurance Plan Pittsburgh, PA | $581,895,835 | $94,164,252 |
The Alliance Of Western New York Benefit Fund Niagara Falls, NY | $6,976,289 | $46,952,966 |
Engineers Union Welfare Fund-68 W Caldwell, NJ | $91,129,642 | $51,382,573 |
Njbls Welfare Fund Jersey City, NJ | $110,871,064 | $43,109,332 |
Noitu Insurance Trust Fund Jamaica, NY | $148,755,855 | $71,536,431 |
Service Employees 32bj North Health Fund New York, NY | $54,056,871 | $50,215,103 |
Northeast Pennsylvania Sch Dist Tr Edwardsville, PA | $25,318,463 | $48,080,528 |