Local Union 808 I B T Health And Welfare Fund
- Assets
- $11.8m
- Revenue
- $11.8m
- Investments
- $0.0
- Employees
- 4
- Location
- Long Island City, NY
- Founding
- 12/1972
- Data as of
- 09/2021
- EIN
- 23-7218454
Organization Overview
Local Union 808 I B T Health And Welfare Fund is located in Long Island City, NY. The organization was established in 1972. 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 09/2021, Local Union 808 I B T Health And Welfare Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local Union 808 I B T Health And 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 09/2021, Local Union 808 I B T Health And Welfare Fund generated $11.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $10.8m during the year ending 09/2021. While expenses have increased by 4.6% 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
THE TRUST RECEIVES CONTRIBUTIONS PURSUANT TO A COLLECTIVE BARGAINING AGREEMENT AND HOLDS THE ASSETS OF A MULTIEMPLOYER WELFARE BENEFIT PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A MULTIEMPLOYER WELFARE BENEFIT PLAN THAT PROVIDES MEDICAL, DENTAL, OPTICAL, AND OTHER WELFARE BENEFITS TO PLAN PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS AND BENEFICIARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Demasi Employer Trustee | OfficerTrustee | 1 | $4,125 |
Fitz-Verity C Silvera Union Trustee | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Bcbs Administrator Fees | 9/29/21 | $307,006 |
Savasta And Company Inc Actuary/contract Adm | 9/29/21 | $104,300 |
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 | $11,372,599 |
| Investment income | $151,264 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $266,129 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,792,606 |
| 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 | $9,915,542 |
| Compensation of current officers, directors, key employees. | $5,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $124,944 |
| Pension plan accruals and contributions | $6,381 |
| Other employee benefits | $40,481 |
| Payroll taxes | $9,494 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $54,940 |
| Fees for services: Accounting | $72,281 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $443,697 |
| Advertising and promotion | $0 |
| Office expenses | $29,404 |
| Information technology | $42,838 |
| Royalties | $0 |
| Occupancy | $33,776 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,288 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $209 |
| Insurance | $5,670 |
| All other expenses | $0 |
| Total functional expenses | $10,797,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,393,191 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $799,877 |
| 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 | $10,377 |
| Net Land, buildings, and equipment | $360 |
| Investments—publicly traded securities | $8,813,393 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $746,144 |
| Total assets | $11,763,342 |
| Accounts payable and accrued expenses | $23,965 |
| 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 | $23,965 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $11,739,377 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,763,342 |