Welfare Fund Of Local-293
- Assets
- $0.0
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 1
- Location
- Independence, OH
- Founding
- 10/1972
- Data as of
- 04/2022
- EIN
- 34-6535474
Organization Overview
Welfare Fund Of Local-293 is located in Independence, OH. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Welfare Fund Of Local-293 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 04/2022, Welfare Fund Of Local-293 generated $5.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.1%) each year. All expenses for the organization totaled $4.8m during the year ending 04/2022. As we would expect to see with falling revenues, expenses have declined by (16.3%) per year over the past 7 years. 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
TO PROVIDE HEALTH & WELFARE (CONTINUED ON SCHEDULE O)(SICK, ACCIDENT, MEDICAL, DENTAL, PRESCRIPTION, VISION, & DEATH) BENEFITS TO ELIGIBLE MEMBERS OF CONTRIBUTING EMPLOYERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH & WELFARE (SICK, ACCIDENT, MEDICAL, DENTAL, PRESCRIPTION, VISION, & DEATH) BENEFITS TO ELIGIBLE EMPLOYEES OF CONTRIBUTING EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Osborne Jr Union Trustee | Trustee | 5 | $0 |
Michael H Zemla Chairman | Trustee | 10 | $0 |
Denny Benvenuto Employer-Trustee | Trustee | 1 | $0 |
Thomas Tyrrell Union Trustee | Trustee | 5 | $0 |
Len Ganley Employer-Trustee | Trustee | 1 | $0 |
Kevin Schroeder Employer-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 | $5,504,538 |
| Investment income | $6,154 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $72,952 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,583,644 |
| 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 | $4,595,448 |
| 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 | $10,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,255 |
| Payroll taxes | $11,066 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $538 |
| Fees for services: Accounting | $52,635 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,070 |
| Fees for services: Other | $23,212 |
| Advertising and promotion | $0 |
| Office expenses | $5,354 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,760 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,767,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |