Plumbers & Steamfitters 486 Medical Fund
- Assets
- $38.6m
- Revenue
- $25.2m
- Investments
- $9.0m
- Employees
- 23
- Location
- Baltimore, MD
- Founding
- 01/1954
- Data as of
- 12/2022
- EIN
- 52-6044512
Organization Overview
Plumbers & Steamfitters 486 Medical Fund is located in Baltimore, MD. The organization was established in 1954. 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 12/2022, Plumbers & Steamfitters 486 Medical Fund employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers & Steamfitters 486 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 12/2022, Plumbers & Steamfitters 486 Medical Fund generated $25.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $22.5m during the year ending 12/2022. While expenses have increased by 4.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
PROVIDE MEDICAL BENEFITS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES ACCIDENT, MEDICAL AND HOSPITALIZATION BENEFITS ON A SELF-INSURED BASIS TO ELIGIBLE PARTICIPANTS EMPLOYED BY CONTRIBUTING EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pasquale Petrovia Trustee | Trustee | 1 | $0 |
Eric Eckstein Trustee | Trustee | 1 | $9,477 |
Kenneth Kahl Trustee | Trustee | 1 | $6,865 |
Anthony George Trustee | Trustee | 1 | $7,918 |
Charles Daniel Trustee | Trustee | 1 | $0 |
Kari Cordell Trustee | Trustee | 1 | $7,918 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Conifer Value-based Care Llc Software, Data Analysis | 12/30/22 | $182,709 |
Benefits Administration Corporation Third Party Administrator | 12/30/22 | $440,155 |
Zelis Claims Re-pricing | 12/30/22 | $163,767 |
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 | $24,393,415 |
| Investment income | $868,353 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$93,686 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,172,836 |
| 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 | $21,224,111 |
| Compensation of current officers, directors, key employees. | $32,723 |
| 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 | $376,980 |
| Fees for services: Legal | $51,776 |
| Fees for services: Accounting | $20,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $107,285 |
| Fees for services: Other | $79,600 |
| Advertising and promotion | $0 |
| Office expenses | $11,064 |
| 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 | $21,230 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,454 |
| All other expenses | $0 |
| Total functional expenses | $22,515,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,108,038 |
| Savings and temporary cash investments | $2,239,583 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,382,413 |
| 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 | $4,532 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $21,827,921 |
| Investments—other securities | $9,022,355 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $38,584,842 |
| Accounts payable and accrued expenses | $540,802 |
| 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 | $540,802 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $38,044,040 |
| 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 | $38,584,842 |