Philadelphia Federation Of Teachers Health & Welfare
- Assets
- $50.4m
- Revenue
- $69.6m
- Investments
- $0.0
- Employees
- 22
- Location
- Philadelphia, PA
- Founding
- 12/1972
- Data as of
- 08/2023
- EIN
- 23-1874001
Organization Overview
Philadelphia Federation Of Teachers Health & Welfare is located in Philadelphia, PA. The organization was established in 1972. 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 08/2023, Philadelphia Federation Of Teachers Health & Welfare employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia Federation Of Teachers Health & Welfare is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 08/2023, Philadelphia Federation Of Teachers Health & Welfare generated $69.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $65.7m during the year ending 08/2023. While expenses have increased by 1.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH SERVICES AND BENEFITS TO THE EMPLOYEES OF THE PHILADELPHIA SCHOOL DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPLEMENTAL HEALTH BENEFITS PROGRAM TO APPROXIMATELY 20,000 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosalind Jones-Johnson Education Director | 1 | $123,311 | |
Arthur G Steinberg Chief Trustee | Trustee | 1 | $19,846 |
Jerry T Jordan Trustee | Trustee | 1 | $0 |
Daniel Dimartino Trustee | Trustee | 1 | $0 |
Marissa Quinn Trustee | Trustee | 1 | $0 |
Marie Killian Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capital Rx Prescription | 8/30/23 | $40,313,819 |
Labor First Retired Premiums | 8/30/23 | $14,207,034 |
United Concordia Dental Care | 8/30/23 | $5,366,227 |
Ohcs Enviremental Samplin | 8/30/23 | $537,750 |
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 | $68,178,408 |
| Investment income | $510,021 |
| 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 | $69,606,735 |
| 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 | $59,165,956 |
| Compensation of current officers, directors, key employees. | $19,846 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,172,127 |
| Pension plan accruals and contributions | $167,528 |
| Other employee benefits | $353,850 |
| Payroll taxes | $79,764 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,327 |
| Fees for services: Accounting | $29,084 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $215,277 |
| Advertising and promotion | $0 |
| Office expenses | $186,145 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $856,963 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,924 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $518 |
| Insurance | $36,595 |
| All other expenses | $45,472 |
| Total functional expenses | $65,709,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,515,705 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,443,691 |
| 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 | $17,404 |
| Net Land, buildings, and equipment | $1,531 |
| Investments—publicly traded securities | $15,382,964 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $50,361,295 |
| Accounts payable and accrued expenses | $8,100,683 |
| 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 | $2,909,312 |
| Total liabilities | $11,009,995 |
| Net assets without donor restrictions | $39,351,300 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $50,361,295 |