Pressmen Welfare Fund
- Assets
- $1.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Sparks, MD
- Founding
- 01/1971
- Data as of
- 12/2022
- EIN
- 23-7092745
Organization Overview
Pressmen Welfare Fund is located in Sparks, MD. The organization was established in 1971. 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. Pressmen Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Pressmen Welfare Fund generated $1.7m 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 (7.3%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.7%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEDICAL, DENTAL, AND OTHER WELFARE BENEFITS TO MEMBERSHIP IN ACCORDANCE WITH COLLECTIVELY BARGAINED AGREEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH CARE, VISION, PRESCRIPTION DRUGS, DISABILITY AND DEATH BENEFITS ADMINISTERED UNDER A COLLECTIVELY BARGAINED AGREEMENT FOR MEMBERS OF WASHINGTON PRINTING PRESSMEN, ASSISTANTS AND OFFSET WORKERS L.U. NO. 72.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Atwill Union Trustee | Trustee | 5 | $0 |
Janice Bort Union Trustee | Trustee | 1 | $0 |
Jay Goldscher Employer Trustee | Trustee | 1 | $0 |
Beth Swanson Employer Trustee | Trustee | 1 | $0 |
Steve Bearden Employer Trustee | Trustee | 1 | $0 |
Dennis Larkin Union Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kaiser Permanente Insurance | 12/30/21 | $1,544,542 |
Associated Administrators Llc Third Party Administrator | 12/30/21 | $113,125 |
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 | $1,649,740 |
| Investment income | $14,011 |
| 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 | $1,663,877 |
| 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 | $1,742,961 |
| 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 | $116,524 |
| Fees for services: Legal | $20,780 |
| Fees for services: Accounting | $17,107 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,500 |
| Advertising and promotion | $0 |
| Office expenses | $1,996 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,184 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,156 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,980 |
| All other expenses | $0 |
| Total functional expenses | $1,924,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,992 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $196,234 |
| 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 | $3,629 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $846,172 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,256,027 |
| Accounts payable and accrued expenses | $2,218 |
| 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 | $2,218 |
| 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 | $1,253,809 |
| Total liabilities and net assets/fund balances | $1,256,027 |