Mutual Beneficial Association Inc
- Assets
- $131.8m
- Revenue
- $11.8m
- Investments
- $0.0
- Employees
- 5
- Location
- Berwyn, PA
- Founding
- 11/1972
- Data as of
- 12/2023
- EIN
- 23-6000755
Organization Overview
Mutual Beneficial Association Inc is located in Berwyn, PA. The organization was established in 1972. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, Mutual Beneficial Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mutual Beneficial Association Inc is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 12/2023, Mutual Beneficial Association Inc generated $11.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $11.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 8 years. 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
FRATERNAL BENEFIT SOCIETY SERVING THE TRANSPORTATION INDUSTRY AND THEIR FAMILY MEMBERS AND PROVIDING FRATERNAL AND CHARITABLE CONTRIBUTIONS TO THESE EMPLOYEES AND IN THE GENERAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE A FRATERNAL BENEFIT SOCIETY THAT SERVES THE TRANSPORTATION INDUSTRY AND THEIR FAMILIES AND PROVIDES CHARITABLE AND SOCIAL ACTIVITIES IN THE COMMUNITY.
WE ARE A FRATERNAL BENEFIT SOCIETY THAT SERVES THE TRANSPORTATION INDUSTRY AND THEIR FAMILIES AND PROVIDES CHARITABLE AND SOCIAL ACTIVITIES IN THE COMMUNITY.
WE ARE A FRATERNAL BENEFIT SOCIETY THAT SERVES THE TRANSPORTATION INDUSTRY AND THEIR FAMILIES AND PROVIDES CHARITABLE AND SOCIAL ACTIVITIES IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary L Gibney General Secretary | OfficerTrustee | 55 | $188,011 |
Thomas Catanach General Treasurer | OfficerTrustee | 50 | $179,995 |
Stephen M Santarlasci General President | OfficerTrustee | 50 | $154,499 |
Richard O Dietrich General Vice President | OfficerTrustee | 2 | $5,800 |
Donald F Teague Director | OfficerTrustee | 1 | $5,600 |
John C Carini Director | OfficerTrustee | 1 | $5,600 |
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 | $11,785,428 |
| Investment income | $0 |
| 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 | $11,785,428 |
| 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 | $10,561,920 |
| Compensation of current officers, directors, key employees. | $539,505 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,323 |
| Pension plan accruals and contributions | $66,532 |
| Other employee benefits | $72,774 |
| Payroll taxes | $58,660 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $534 |
| Fees for services: Accounting | $96,207 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $531 |
| Office expenses | $1,448 |
| Information technology | $21,564 |
| Royalties | $0 |
| Occupancy | $65,461 |
| 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 | $18,812 |
| All other expenses | $30,655 |
| Total functional expenses | $11,722,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,350 |
| Savings and temporary cash investments | $1,755,405 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $127,789,298 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,290,251 |
| Total assets | $131,839,304 |
| Accounts payable and accrued expenses | $0 |
| 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 | $129,179,549 |
| Total liabilities | $129,179,549 |
| 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 | $2,659,755 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $131,839,304 |