Garage & Parking Lot Employees Welfare Fund Local 700
- Assets
- $335.1k
- Revenue
- $158.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Philadelphia, PA
- Founding
- 04/1961
- Data as of
- 08/2021
- EIN
- 23-6390783
Organization Overview
Garage & Parking Lot Employees Welfare Fund Local 700 is located in Philadelphia, PA. The organization was established in 1961. 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. Garage & Parking Lot Employees Welfare Fund Local 700 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 08/2021, Garage & Parking Lot Employees Welfare Fund Local 700 generated $158.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.8%) each year. All expenses for the organization totaled $181.4k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (11.7%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
INSURANCE PROVIDER OF GROUP HEALTH BENEFITS, SHORT TERM DISABILITY, DEATH BENEFITS AND LIFE INSURANCE COVERING FULL-TIME MEMBERS OF LOCAL 700.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDER OF DISABILITY, HEALTH AND LIFE INSURANCE FOR APPROXIMATELY 79 UNION MEMBERS
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 |
|---|---|---|---|
Robert Taylor Trustee | Officer | 40 | $39,738 |
Lynn Sanders Trustee | Officer | $0 | |
Jay Weitzman Trustee | Officer | $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 | $157,818 |
| 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 | $158,418 |
| 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 | $47,464 |
| 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 | $16,537 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,405 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,832 |
| 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 | $0 |
| All other expenses | $3,559 |
| Total functional expenses | $181,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,991 |
| Savings and temporary cash investments | $197,444 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,585 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,106 |
| Total assets | $335,126 |
| Accounts payable and accrued expenses | $2,553 |
| 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 | $2,553 |
| 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 | $332,573 |
| Total liabilities and net assets/fund balances | $335,126 |
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 |