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 08/2021, Teamsters Health & Welfare Fund Local 377 employed 30 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 08/2021, Teamsters Health & Welfare Fund Local 377 generated $7.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $6.9m during the year ending 08/2021. 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
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Bobbi Terwilliger Union Trustee | Trustee | 0.5 | $0 |
Ralph Sam Cook Union Trustee | Trustee | 0.5 | $0 |
Steve Anzevino Union Trustee | Trustee | 0.5 | $0 |
Joseph Kerola Employer Trustee | Trustee | 0.5 | $0 |
Edward Sikos Employer Trustee | Trustee | 0.5 | $0 |
Joseph Villano Employer Trustee | Trustee | 0.5 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Anthem Contract Administration | 8/30/21 | $348,330 |
Benesys Plan Administration | 8/30/21 | $153,350 |
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 | $7,561,174 |
Investment income | $116,334 |
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 | $7,677,508 |
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 | $6,521,209 |
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 | $153,350 |
Fees for services: Legal | $33,239 |
Fees for services: Accounting | $33,075 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $15,472 |
Fees for services: Other | $79,437 |
Advertising and promotion | $0 |
Office expenses | $27,165 |
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 | $1,265 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $9,365 |
All other expenses | $2,423 |
Total functional expenses | $6,876,000 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,315,367 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $602,576 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $199,450 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $6,471 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $8,439,222 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $8,096 |
Total assets | $11,571,182 |
Accounts payable and accrued expenses | $184,128 |
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 | $184,128 |
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 | $11,387,054 |
Total liabilities and net assets/fund balances | $11,571,182 |