Asbestos Workers Local Union No 80 Supplemental Medical Fund
- Assets
- $9.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Pembroke Pines, FL
- Founding
- 07/1996
- Data as of
- 06/2022
- EIN
- 52-1863202
Organization Overview
Asbestos Workers Local Union No 80 Supplemental Medical Fund is located in Pembroke Pines, FL. The organization was established in 1996. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asbestos Workers Local Union No 80 Supplemental Medical Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2022, Asbestos Workers Local Union No 80 Supplemental Medical Fund generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. 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
PROVISION OF MEDICAL, WEEKLY ACCIDENT & SICKNESS AND RETIREE HEALTH INSURANCE BENEFITS TO MEMBERS OF ASBESTOS WORKERS LOCAL UNION NO. 80.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES DURING THE PERIOD CONSISTED OF ACCUMULATING AND INVESTING FUNDS TO PROVIDE MEDICAL, WEEKLY ACCIDENT AND SICKNESS AND RETIREE HEALTH INSURANCE BENEFITS TO UNION MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Atrip Trustee - Employer | Trustee | 1 | $0 |
Dan Patterson Trustee - Employer | Trustee | 1 | $0 |
Ryan Patterson Trustee - Employer | Trustee | 1 | $0 |
Ron Piersol Jr Trustee - Union | Trustee | 1 | $0 |
J Todd Motz Trustee - Union | Trustee | 1 | $0 |
Nate Gardner Trustee - Union | 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 | $1,333,361 |
| Investment income | $131,046 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $226,586 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,690,993 |
| 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 | $1,880,014 |
| 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 | $41,798 |
| Fees for services: Legal | $4,606 |
| Fees for services: Accounting | $15,104 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,138 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,800 |
| 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 | $15,219 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,981,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $147,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $98,036 |
| 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 | $780 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,820,399 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,067,074 |
| Accounts payable and accrued expenses | $1,640 |
| 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 | $1,640 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $9,065,434 |
| 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 | $9,067,074 |