Iatse Local 22 Welfare Fund
- Assets
- $2.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 2
- Location
- Silver Spring, MD
- Founding
- 09/1972
- Data as of
- 12/2021
- EIN
- 52-1021473
Organization Overview
Iatse Local 22 Welfare Fund is located in Silver Spring, MD. The organization was established in 1972. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Iatse Local 22 Welfare Fund employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iatse Local 22 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 12/2021, Iatse Local 22 Welfare Fund generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HEALTH AND WELFARE BENEFITS FOR ELIGIBLE EMPLOYEES WORKING IN COVERED EMPLOYMENT UNDER THE JURISDICTION OF THEATRICAL STAGE EMPLOYEES, LOCAL 22 AND LOCAL 772.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH AND WELFARE BENEFITS PAID FOR PARTICIPANTS AND THEIR DEPENDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr David Langrell Trustee | Trustee | 1 | $0 |
Lynn Jackson Trustee (non-Voting) | Trustee | 1 | $0 |
Ms Lynne Pratt Trustee | Trustee | 1 | $0 |
Mr John Daley Trustee | Trustee | 1 | $0 |
Mr Irving Clay Trustee | Trustee | 1 | $0 |
Mr Ryan Haderlie 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 | $2,502,087 |
| Investment income | $28,102 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$25,193 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,504,996 |
| 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 | $2,986,382 |
| 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 | $102,924 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,227 |
| Fees for services: Management | $88,153 |
| Fees for services: Legal | $136,174 |
| Fees for services: Accounting | $39,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $753 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $15,717 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,700 |
| 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 | $517 |
| Insurance | $4,658 |
| All other expenses | $1,323 |
| Total functional expenses | $3,387,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,032,875 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $848,135 |
| 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 | $10,596 |
| Net Land, buildings, and equipment | $1,012 |
| Investments—publicly traded securities | $913,206 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,805,824 |
| Accounts payable and accrued expenses | $66,111 |
| 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 | $750,000 |
| Other liabilities | $1,872,000 |
| Total liabilities | $2,688,111 |
| Net assets without donor restrictions | $117,713 |
| 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 | $2,805,824 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Iatse Local 22 Welfare Fund has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
John F Kennedy Center For The Performing Arts Washington, DC PURPOSE: COVID RELIEF | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Painters Welfare Fund Pittsburgh, PA | $17,172,930 | $23,602,516 |
Mutual Beneficial Association Inc Berwyn, PA | $132,759,628 | $20,036,739 |
Tri-County Building Trades Welfare Fund Ona, WV | $25,786,876 | $22,983,725 |
Stewart Employee Benefit Trust York, PA | $728,219 | $17,071,502 |
Redners Voluntary Employees Benefit Plan And Trust Reading, PA | $695,082 | $16,941,479 |
Mrm Property And Liability Tr Inc Sewickley, PA | $33,998,884 | $14,896,339 |
Giorgio Health & Welfare Plan Temple, PA | $32,283 | $14,373,210 |
Childrens Hospital Self-Insurance Trust Washington, DC | $0 | $0 |
St Francis Workers Comp Pittsburgh, PA | $17,888,237 | $9,838,738 |
Southern States Group Benefit Trust Richmond, VA | $1,559,030 | $9,812,364 |
Cement Masons-592 Welfare Fund Philadelphia, PA | $28,352,479 | $12,285,764 |
Pennsylvania Property And Casualty Insurance Guaranty Association Philadelphia, PA | $159,227,112 | $35,772,841 |