Pmta-Ila Vacation Fund
- Assets
- $10.6m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 12/1982
- Data as of
- 09/2023
- EIN
- 23-2022561
Organization Overview
Pmta-Ila Vacation Fund is located in Philadelphia, PA. The organization was established in 1982. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Pmta-Ila Vacation Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2023, Pmta-Ila Vacation Fund generated $10.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $10.2m during the year ending 09/2023. While expenses have increased by 6.0% 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
UNION EMPLOYER SPONSORED VACATION BENEFIT FUND WHICH PAYS A SEMI-ANNUAL BENEFIT DISTRIBUTION TO ELIGIBLE PARTICIPANTS. THE FUND ALSO PROVIDES LIFE INSURANCE AND DISABILITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN WAS ESTABLISHED AS A RESULT OF A COLLECTIVE BARGAINING AGREEMENT BETWEEN THE PMTA AND THE ILA. BENEFITS ARE FUNDED BY EMPLOYER CONTRIBUTIONS AND SUBSIDIES FROM CONTAINER ROYALTY FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Lyons Employer Trustee | Trustee | 2 | $0 |
Brian Casal Employer Trustee | Trustee | 2 | $0 |
Andrew Sentyz Employer Trustee | Trustee | 2 | $0 |
David Whene Employer Trustee | Trustee | 2 | $0 |
Bayard Hogans Employer Trustee | Trustee | 2 | $0 |
Joseph Carson Union Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ila Benefit Fund Office Union Benefit Administration | 9/29/20 | $104,170 |
Benefit Processing Inc Third Party Administration | 9/29/20 | $188,904 |
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 | $9,744,627 |
| Investment income | $148,921 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $95,109 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,988,657 |
| 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 | $9,638,504 |
| 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 | $414,365 |
| Fees for services: Legal | $30,024 |
| Fees for services: Accounting | $14,654 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,122 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,638 |
| Information technology | $32,082 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $11,347 |
| All other expenses | $10,175 |
| Total functional expenses | $10,213,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $623,671 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,990,325 |
| 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 | $28,524 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,937,474 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,481 |
| Total assets | $10,590,475 |
| Accounts payable and accrued expenses | $11,000 |
| 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 | $6,133,199 |
| Total liabilities | $6,144,199 |
| 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 | $4,446,276 |
| Total liabilities and net assets/fund balances | $10,590,475 |