Local 8-86 Merck Employees Veba Trust
- Assets
- $65.4m
- Revenue
- $43.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Horsham, PA
- Founding
- 10/1996
- Data as of
- 06/2021
- EIN
- 23-2811893
Organization Overview
Local 8-86 Merck Employees Veba Trust, operating under the name USW Local 10-00086 Merck Employees H & W Fund, is located in Horsham, PA. The organization was established in 1996. 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. USW Local 10-00086 Merck Employees H & W Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2021, USW Local 10-00086 Merck Employees H & W Fund generated $43.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $34.4m during the year ending 06/2021. While expenses have increased by 1.6% per year over the past 6 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
WELFARE BENEFIT PLAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE VEBA IS TO PROVIDE SELF-FUNDED HEALTH AND WELFARE BENEFITS TO ALL LOCAL 10-00086 MERCK EMPLOYEE MEMBERS. THE PLAN SERVES APPROXIMATELY 1,997 MEMBERS AND THEIR FAMILIES.
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 |
|---|---|---|---|
Daniel Peterson Trustee | Trustee | 2 | $0 |
Kevin Mccafferty Trustee | Trustee | 2 | $0 |
Michael Arseneault Trustee | Trustee | 2 | $0 |
Michael Gauger Trustee | Trustee | 2 | $0 |
Jennifer Davis Trustee | Trustee | 2 | $0 |
Stephanie Perfetti 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 | $41,275,037 |
| Investment income | $1,577,180 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $133,145 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,985,362 |
| 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 | $33,840,342 |
| 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 | $189,850 |
| Fees for services: Legal | $65,376 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $236,632 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $18,068 |
| Information technology | $0 |
| 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 | $5,397 |
| All other expenses | $0 |
| Total functional expenses | $34,374,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,398 |
| Savings and temporary cash investments | $17,169,859 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,128,713 |
| 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 | $14,967 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $46,049,094 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,449,031 |
| Accounts payable and accrued expenses | $4,657,777 |
| 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 | $4,657,777 |
| 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 | $60,791,254 |
| Total liabilities and net assets/fund balances | $65,449,031 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berks County School Districts Health Tr Reading, PA | $37,307,686 | $92,475,879 |
New Jersey Property Liability Basking Ridge, NJ | $270,074,908 | $113,404,286 |
Ads Alliance Data Systems Inc Employee Benefits Trust Columbus, OH | $17,341,004 | $79,868,187 |
Iuoe Local 30 Benefits Fund Whitestone, NY | $137,370,493 | $75,805,086 |
American Institute For Chartered Property Casualty Underwriters Malvern, PA | $315,144,713 | $90,590,145 |
Northwestern Region Employee Norebt Erie, PA | $17,910,540 | $63,223,264 |
United Church Insurance Association Cleveland, OH | $16,856,548 | $69,122,452 |
Western And Southern Life Insurance Company Veba Trust Cincinnati, OH | $9,770,641 | $57,519,736 |
Bna Cash Basis Veba Trust Brooklyn, NY | $0 | $57,496,830 |
Nysa Ila Vacation & Holiday Fund Jersey City, NJ | $23,216,286 | $51,819,514 |
International Brotherhood Of Tmstrs Chauffers Wrhsmn & Helpers Of Amer Mountainside, NJ | $24,791,012 | $45,427,748 |
Golub Corporation Employees Benefit Trust Schenectady, NY | $0 | $47,368,126 |