Southern Painters Welfare Fund
- Assets
- $25.9m
- Revenue
- $24.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 10/1991
- Data as of
- 12/2022
- EIN
- 58-1910292
Organization Overview
Southern Painters Welfare Fund is located in Pittsburgh, PA. The organization was established in 1991. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Southern Painters Welfare 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, Southern Painters Welfare Fund generated $24.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $16.7m during the year ending 12/2022. While expenses have increased by 4.3% 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
THIS IS A MULTIEMPLOYER HEALTH AND WELFARE PLAN WHICH HAS BEEN ESTABLISHED TO PROVIDE HEALTH AND WELFARE BENEFITS FOR ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES DEATH, LIFE, AND HEALTH BENEFITS (MEDICAL, SURGICAL, MAJOR MEDICAL, SHORT-TERM DISABILITY, DENTAL, PRESCRIPTION, AND VISION) FOR ELIGIBLE PARTICIPANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Herbert Santos Jr Union Trustee/chairman (p) | Trustee | 2 | $0 |
Charles Hill Union Trustee (p) | Trustee | 2 | $0 |
Darryl Traylor Employer Trustee | Trustee | 2 | $0 |
Eric Porter Union Trustee (p) | Trustee | 2 | $0 |
Walter Ilczyszyn Union Trustee/chairman | Trustee | 2 | $0 |
Nikitas Manias Employer Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Highmark Claims Administrator | 12/30/22 | $799,556 |
Central Data Services Third Party Administrator | 12/30/22 | $348,000 |
Express Script Claims Administrator | 12/30/22 | $176,004 |
Robein Urann Spencer Picard & Cangemi Legal Service | 12/30/22 | $162,020 |
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 | $24,251,350 |
| Investment income | $293,490 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$51,326 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,493,514 |
| 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 | $14,952,573 |
| 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 | $348,000 |
| Fees for services: Legal | $162,020 |
| Fees for services: Accounting | $71,196 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,638 |
| Fees for services: Other | $1,068,344 |
| Advertising and promotion | $0 |
| Office expenses | $72,205 |
| 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 | $26,846 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,780 |
| All other expenses | $8,022 |
| Total functional expenses | $16,740,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,988,978 |
| Savings and temporary cash investments | $972,357 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,958,682 |
| 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 | $1,195 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,019,091 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,940,303 |
| Accounts payable and accrued expenses | $199,309 |
| Grants payable | $0 |
| Deferred revenue | $1,279,134 |
| 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 | $2,396,291 |
| Total liabilities | $3,874,734 |
| Net assets without donor restrictions | $0 |
| 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 | $22,065,569 |
| Total liabilities and net assets/fund balances | $25,940,303 |