Johnson And Johnson Health Benefits Trust For Union Employees
- Assets
- $1.9m
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Quincy, MA
- Founding
- 02/1989
- Data as of
- 12/2020
- EIN
- 52-1610806
Organization Overview
Johnson And Johnson Health Benefits Trust For Union Employees is located in Quincy, MA. The organization was established in 1989. 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. Johnson And Johnson Health Benefits Trust For Union Employees is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2020, Johnson And Johnson Health Benefits Trust For Union Employees generated $14.4m 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 (12.4%) each year. All expenses for the organization totaled $15.2m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (11.2%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE VEBA HAS BEEN ESTABLISHED & MAINTAINED AS A MEANS OF FUNDING, PAYING BENEFITS & ADMIN EXPENSES FOR ELIGIBLE PARTICIPANTS IN CERTAIN MEDICAL PLANS MAINTAINED BY J&J & ITS AFFILIATED COMPANIES PURSUANT TO COLLECTIVE BARGAINING AGREEMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VEBA HAS BEEN ESTABLISHED & MAINTAINED AS A MEANS OF FUNDING, PAYING BENEFITS & ADMIN EXPENSES FOR ELIGIBLE HOURLY EMPLOYEES (& THEIR ELIGIBLE AND ENROLLED DEPENDENTS) WHO ARE PARTICIPANTS IN CERTAIN MEDICAL PLANS MAINTAINED BY J&J & ITS AFFILIATED COMPANIES PURSUANT TO COLLECTIVE BARGAINING AGREEMENTS.
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Express Scripts Claims Service Provider | 12/30/20 | $220,800 |
Aetna Claims Service Provider | 12/30/20 | $429,600 |
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 | $14,417,897 |
| Investment income | $9,770 |
| 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 | $14,427,667 |
| 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 | $14,451,098 |
| Compensation of current officers, directors, key employees. | $1,955 |
| 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 | $736,669 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $15,189,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,938,475 |
| 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 | $11 |
| Total assets | $1,938,486 |
| 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 | $1,938,486 |
| 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 | $1,938,486 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Health Reimbursement Account Fund Of The Electrical Industry Flushing, NY | $132,750,726 | $42,957,769 |
The Alliance Of Western New York Benefit Fund Niagara Falls, NY | $6,976,289 | $46,952,966 |
Permanente Medical Group Inc Medi Pl For Ret Emp By Coll Brg Agr Tr Boston, MA | $481,752,947 | $46,602,397 |
Noitu Insurance Trust Fund Jamaica, NY | $148,755,855 | $71,536,431 |
Service Employees 32bj North Health Fund New York, NY | $54,056,871 | $50,215,103 |
Local 338 Health And Welfare Fund Mineola, NY | $45,598,240 | $44,654,904 |
Board Of Trustees Equity League Health Trust Fund New York, NY | $86,412,309 | $64,158,536 |
United Teamster Fund Brooklyn, NY | $16,084,103 | $41,629,568 |
I B E W Local 25 Health And Benefit Fund Hauppauge, NY | $77,411,415 | $46,982,315 |
I B E W Local 1249 Insurance Fund Cicero, NY | $114,229,442 | $58,794,383 |
Ufcw And Participating Employers Interstate Health & Welfare Fund East Providence, RI | $0 | $50,747,634 |
Iron Workers Locals 40 & 361 Topping Out Fund New York, NY | $314,693,043 | $57,976,282 |