Asbetos Workers Philadelphia Welfare Fund
- Assets
- $28.9m
- Revenue
- $13.9m
- Investments
- $0.0
- Employees
- 3
- Location
- Philadelphia, PA
- Founding
- 09/1960
- Data as of
- 06/2022
- EIN
- 23-7097998
Organization Overview
Asbetos Workers Philadelphia Welfare Fund is located in Philadelphia, PA. The organization was established in 1960. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2022, Asbetos Workers Philadelphia Welfare Fund employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asbetos Workers Philadelphia 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 06/2022, Asbetos Workers Philadelphia Welfare Fund generated $13.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $14.4m during the year ending 06/2022. 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
THE PLAN IS A MULTIEMPLOYER HEALTH AND WELFARE PLAN COVERING MEMBERS OF INSULATORS AND ASBESTOS WORKERS LOCAL UNION NOS. 14 AND 89 AND ALL EMPLOYEES WHOSE EMPLOYMENT IS IN A CAPACITY WHICH PROVIDES FOR CONTRIBUTIONS TO THE TRUST OF THE PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL, HOSPITAL, DENTAL, VISION, PRESCRIPTION, WEEKLY DISABILITY INCOME, AND DEATH BENEFITS.
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 |
|---|---|---|---|
Michael Burns Fund Administrator | Officer | 16 | $56,072 |
Jerry Mccaffrey Management Trustee Co-Chai | Trustee | 1 | $0 |
Stephen Pettit Labor Trustee Co-Chairman | Trustee | 1 | $0 |
Michael Formica Management Trustee | Trustee | 1 | $0 |
Robert Cellucci Labor Trustee | Trustee | 1 | $0 |
Arthur Sweeney Management Trustee | Trustee | 1 | $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 | $14,363,001 |
| Investment income | $495,974 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$926,570 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,932,405 |
| 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 | $13,436,223 |
| Compensation of current officers, directors, key employees. | $88,453 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $152,131 |
| Pension plan accruals and contributions | $97,596 |
| Other employee benefits | $54,754 |
| Payroll taxes | $15,756 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $59,000 |
| Fees for services: Accounting | $79,994 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,936 |
| Fees for services: Other | $153,893 |
| Advertising and promotion | $0 |
| Office expenses | $53,041 |
| Information technology | $69,531 |
| Royalties | $0 |
| Occupancy | $52,807 |
| Travel | $8,010 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,510 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,438 |
| Insurance | $27,395 |
| All other expenses | $3,695 |
| Total functional expenses | $14,447,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,240,455 |
| Savings and temporary cash investments | $7,044,787 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,509,110 |
| 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 | $46,312 |
| Net Land, buildings, and equipment | $2,005 |
| Investments—publicly traded securities | $17,827,332 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,273,139 |
| Total assets | $28,943,140 |
| Accounts payable and accrued expenses | $60,897 |
| 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 | $19,068 |
| Total liabilities | $79,965 |
| 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 | $28,863,175 |
| Total liabilities and net assets/fund balances | $28,943,140 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Granite State Electric Company Postretirement Benefit Trust For Pittsburgh, PA | $1,127,925,500 | $332,837,993 |
Dist Council Iron Workers Welfare Fund Of Northern New Jersey Springfield, NJ | $71,862,811 | $39,989,422 |
Veba Trust For Union Employees Of Keyspan Corporation Pittsburgh, PA | $1,069,869,045 | $310,728,868 |
International Union Of Operating Columbia, MD | $421,537,439 | $63,563,737 |
Health Reimbursement Account Fund Of The Electrical Industry Flushing, NY | $132,750,726 | $42,957,769 |
Ufcw Local 1776ks Wd And Employers Health Fund Canonsburg, PA | $57,492,418 | $45,036,946 |
Gte Bargained Retired Group Insurance Plan Pittsburgh, PA | $581,895,835 | $94,164,252 |
The Alliance Of Western New York Benefit Fund Niagara Falls, NY | $6,976,289 | $46,952,966 |
Engineers Union Welfare Fund-68 W Caldwell, NJ | $91,129,642 | $51,382,573 |
Njbls Welfare Fund Jersey City, NJ | $110,871,064 | $43,109,332 |
Noitu Insurance Trust Fund Jamaica, NY | $148,755,855 | $71,536,431 |
Service Employees 32bj North Health Fund New York, NY | $54,056,871 | $50,215,103 |