Plumbers & Pipefitters Medical Fund
- Assets
- $46.8m
- Revenue
- $25.0m
- Investments
- $17.1m
- Employees
- 0
- Location
- Columbia, MD
- Founding
- 07/1951
- Data as of
- 12/2022
- EIN
- 53-0190932
Organization Overview
Plumbers & Pipefitters Medical Fund is located in Columbia, MD. The organization was established in 1951. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers & Pipefitters 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 & Pipefitters Medical Fund generated $25.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $24.0m during the year ending 12/2022. While expenses have increased by 6.8% 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
TO PROVIDE MEDICAL, DENTAL AND OTHER WELFARE BENEFITS TO UNION MEMBERSHIP IN ACCORDANCE WITH COLLECTIVELY BARGAINED AGREEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH CARE, VISION, PRESCRIPTION DRUGS, DISABILITY AND DEATH BENEFITS ADMINISTERED UNDER A COLLECTIVELY BARGAINED AGREEMENT FOR MEMBERS OF PLUMBERS & PIPEFITTERS L.U. NO. 5
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter Harrigan Union Trustee | Trustee | 2 | $0 |
Anne Finerfrock Employer Trustee | Trustee | 2 | $0 |
Andrew Tomlinson Employer Trustee | Trustee | 2 | $0 |
Rudy Ford Employer Trustee | Trustee | 2 | $0 |
Terriea Smalls Union Trustee | Trustee | 2 | $0 |
Michael Canales Union Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carday Associates Tpa | 12/30/22 | $471,592 |
O'donoghue & O'donoghue Attorney | 12/30/22 | $197,008 |
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 | $20,541,461 |
| Investment income | $865,243 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$68,226 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,983,373 |
| 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 | $22,651,912 |
| 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 | $471,592 |
| Fees for services: Legal | $178,440 |
| Fees for services: Accounting | $16,731 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $321,983 |
| Advertising and promotion | $0 |
| Office expenses | $44,813 |
| 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 | $37,054 |
| Interest | $0 |
| Payments to affiliates | $5,423 |
| Depreciation, depletion, and amortization | $24,025 |
| Insurance | $31,731 |
| All other expenses | $0 |
| Total functional expenses | $24,008,960 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,263,713 |
| 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 | $42,029 |
| Net Land, buildings, and equipment | $10,942 |
| Investments—publicly traded securities | $26,319,663 |
| Investments—other securities | $17,065,822 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,049,197 |
| Total assets | $46,751,366 |
| Accounts payable and accrued expenses | $194,562 |
| 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 | $86,252 |
| Total liabilities | $280,814 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $46,470,552 |
| 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 | $46,751,366 |