Teamsters Health & Welfare Fund Local 377
- Assets
- $9.8m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 27
- Location
- Canfield, OH
- Founding
- 07/1958
- Data as of
- 08/2023
- EIN
- 34-0755508
Organization Overview
Teamsters Health & Welfare Fund Local 377 is located in Canfield, OH. The organization was established in 1958. 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 08/2023, Teamsters Health & Welfare Fund Local 377 employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Health & Welfare Fund Local 377 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 08/2023, Teamsters Health & Welfare Fund Local 377 generated $8.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $8.1m during the year ending 08/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH & WELFARE BENEFITS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES HEALTHCARE, RETIREMENT, AND DEATH BENEFITS TO ITS ELIGIBLE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Sam Cook Union Trustee | Trustee | 0.5 | $0 |
Steve Anzevino Union Trustee | Trustee | 0.5 | $0 |
Bobbi Terwilliger Union Trustee | Trustee | 0.5 | $0 |
Joseph Kerola Employer Trustee | Trustee | 0.5 | $0 |
Edward Sikos Thru 72723 Employer Trustee | Trustee | 0.5 | $0 |
Joseph Villano Employer Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Contract Administration | 8/30/23 | $335,758 |
Benesys Plan Administration | 8/30/23 | $181,360 |
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 | $7,380,846 |
| Investment income | $290,271 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $281,790 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,186,773 |
| 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 | $7,790,802 |
| 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 | $181,360 |
| Fees for services: Legal | $16,782 |
| Fees for services: Accounting | $31,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,477 |
| Fees for services: Other | $57,128 |
| Advertising and promotion | $0 |
| Office expenses | $24,956 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,360 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,084 |
| All other expenses | $2,289 |
| Total functional expenses | $8,135,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $583,491 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $609,997 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $332,179 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,196 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,246,367 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,445 |
| Total assets | $9,798,675 |
| Accounts payable and accrued expenses | $134,363 |
| 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 | $134,363 |
| 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 | $9,664,312 |
| Total liabilities and net assets/fund balances | $9,798,675 |