Ibew 1158 Welfare Plan Fund
- Assets
- $4.0m
- Revenue
- $3.6m
- Investments
- $2.5m
- Employees
- 7
- Location
- Clifton, NJ
- Founding
- 02/1970
- Data as of
- 12/2021
- EIN
- 22-7051778
Organization Overview
Ibew 1158 Welfare Plan Fund is located in Clifton, NJ. The organization was established in 1970. 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. As of 12/2021, Ibew 1158 Welfare Plan Fund employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ibew 1158 Welfare Plan Fund 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, Ibew 1158 Welfare Plan Fund generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $3.1m during the year ending 12/2021. 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 MEDICAL AND OTHER BENEFITS TO COVERED MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL AND OTHER BENEFITS TO APPROXIMATELY 4,450 COVERED MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Serio Administrator | Officer | 30 | $188,510 |
Joseph P Calabro Assistant Administrator | Officer | 30 | $90,312 |
Christine Fawcett Office Manager | 30 | $78,603 | |
Victor Dimeo Trustee | Trustee | 2 | $0 |
Chris Taylor Trustee | Trustee | 2 | $0 |
Debra Marvel Trustee | Trustee | 2 | $0 |
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 | $3,556,532 |
| Investment income | $53,382 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,611,873 |
| 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 | $1,930,757 |
| 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 | $671,568 |
| Pension plan accruals and contributions | $36,659 |
| Other employee benefits | $78,804 |
| Payroll taxes | $65,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,155 |
| Fees for services: Accounting | $65,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,021 |
| Fees for services: Other | $50,196 |
| Advertising and promotion | $0 |
| Office expenses | $25,345 |
| Information technology | $22,336 |
| Royalties | $0 |
| Occupancy | $87,149 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,601 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,590 |
| Insurance | $17,979 |
| All other expenses | $0 |
| Total functional expenses | $3,131,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $882,995 |
| Savings and temporary cash investments | $76,237 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $386,592 |
| 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 | $9,722 |
| Net Land, buildings, and equipment | $25,573 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,527,160 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,905 |
| Total assets | $3,981,184 |
| Accounts payable and accrued expenses | $23,416 |
| 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 | $0 |
| Total liabilities | $23,416 |
| 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 | $3,957,768 |
| Total liabilities and net assets/fund balances | $3,981,184 |