Prudential Welfare Benefits Tr

Organization Overview

Prudential Welfare Benefits Tr is located in Newark, NJ. The organization was established in 2001. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prudential Welfare Benefits Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 12/2023, Prudential Welfare Benefits Tr generated $271.9m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $274.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE PRUDENTIAL WELFARE BENEFITS TRUST IS INTENDED TO FUND MEDICAL, DENTAL, DISABILITY, AND OTHER WELFARE BENEFITS PAYABLE TO PARTICIPANTS AND THEIR DEPENDENTS IN THE PRUDENTIAL WELFARE BENEFITS PLAN.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PAYMENTS TO INSURANCE CARRIERS AND CONTRACT ADMINISTRATORS FOR MEDICAL, DENTAL, DISABILITY, AND OTHER WELFARE BENEFITS TO PARTICIPANTS AND THEIR DEPENDENTS IN THE PRUDENTIAL WELFARE BENEFITS PLAN.


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Board, Officers & Key Employees

Name (title)Compensation
Gary Neubeck
Member Of Inv. Oversight C
$0
Sara Bonesteel
Member Of Inv. Oversight C
$0
Kate Tekker
Member Of Inv. Oversight C
$0
Name Not Listed
Trustee
$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$272,012,758
Investment income $1,252,713
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$1,340,460
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $271,925,011

Peer Organizations

Organization NameAssets
Management-Ila Managed Healthcare Employee Benefits Tr
New York, NY
$799,302,348
Steelworkers Health & Welfare Fund
Pittsburgh, PA
$828,910,195
Pension Comm Joint Industry Board Of The Electrical Industry
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$466,330,019
Roche Employee Welfare Benefits Tr
Little Falls, NJ
$500,532,196
N Y C District Council Carpenters Welfare Fund
New York, NY
$410,408,937
Trust Agreement For Duke Energy Corp Welfare Benefits Trust Veba I
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$409,904,542
Kpmg Llp Health Plans Tr
Montvale, NJ
$381,164,364
Iatse National Health & Welfare Fund
New York, NY
$309,452,042
American Electric Power System Employees Benefit Tr
Pittsburgh, PA
$308,923,009
Eastern Atlantic States Carpenters Health Fund
Philadelphia, PA
$327,943,739
Marsh & Mclennan Companies Employer Funded Welfare Benefit Trust
New York, NY
$300,017,079
Episcopal Church Clergy And Employees Benefit Trust
New York, NY
$268,175,671
Prudential Welfare Benefits Tr
Newark, NJ
$271,925,011
Labor-Management Healthcare Fund
Cheektowaga, NY
$263,587,409
Carrier - Ila Container Royalty Fund
Lyndhurst, NJ
$243,119,234
Mason Tenders District Council Welfare Fund
New York, NY
$259,159,996
District Council 37 Health And Security Fund
New York, NY
$224,972,090
1199-Seiu Greater New York Benefit Fund
New York, NY
$252,091,100
H&gl Welfare Fund
Newark, NJ
$226,578,670
New York State Teamsters Council Health & Hospital Fund
Syracuse, NY
$224,872,717
BELL ATLANTIC RETIREE LIFE INSURANCE PLAN trust
Pittsburgh, PA
$3,579,317
Hitachi America Ltd
White Plains, NY
$189,844,861
1199 Seiu National Benefit Fund For Home Care Employees
New York, NY
$194,795,490
Excavators Union-731 Welfare Fund
Astoria, NY
$148,230,036
International Brotherhood Of Trade Unions Health & Welfare Fd Tr
Carle Place, NY
$189,100,365

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