Plumbers & Fitters Local 110 Tr Fd
- Assets
- $14.7m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 12
- Location
- Norfolk, VA
- Founding
- 11/1963
- Data as of
- 04/2023
- EIN
- 54-6058147
Organization Overview
Plumbers & Fitters Local 110 Tr Fd is located in Norfolk, VA. The organization was established in 1963. 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 04/2023, Plumbers & Fitters Local 110 Tr Fd employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers & Fitters Local 110 Tr Fd is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 04/2023, Plumbers & Fitters Local 110 Tr Fd generated $6.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $7.3m during the year ending 04/2023. While expenses have increased by 12.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PROVISION OF BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROVISION OF HEALTH, DENTAL, VISION, TEMPORARY DISABILITY AND LIFE INSURANCE BENEFITS TO PLAN PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kris Begolly Chairman | Trustee | 2 | $0 |
Royden Goodson Trustee | Trustee | 2 | $0 |
Debra Mason Secretary | Trustee | 2 | $0 |
Tim Mathias Trustee | Trustee | 2 | $0 |
Jimmy Matthews Trustee | Trustee | 2 | $0 |
Mike Pantele Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Bcbs Ppo | 4/29/23 | $219,179 |
Southern Benefit Administrators Inc Plan Admin. | 4/29/23 | $197,600 |
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 | $5,625,111 |
| Investment income | $237,252 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$11,635 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,905,716 |
| 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 | $5,878,623 |
| 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 | $8,530 |
| Fees for services: Management | $177,600 |
| Fees for services: Legal | $8,604 |
| Fees for services: Accounting | $19,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,841 |
| Fees for services: Other | $266,321 |
| Advertising and promotion | $0 |
| Office expenses | $10,688 |
| 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 | $3,205 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $885,200 |
| All other expenses | $3,986 |
| Total functional expenses | $7,303,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,248 |
| Savings and temporary cash investments | $65,197 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $740,297 |
| 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 | $52,049 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $13,370,850 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,100 |
| Total assets | $14,697,741 |
| Accounts payable and accrued expenses | $34,855 |
| 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 | $2,986,622 |
| Total liabilities | $3,021,477 |
| Net assets without donor restrictions | $11,676,264 |
| 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 | $14,697,741 |