Employers-Ila Nc Ports Welfare Plan
- Assets
- $3.7m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 6
- Location
- Wilmington, NC
- Founding
- 08/1994
- Data as of
- 09/2023
- EIN
- 58-2126333
Organization Overview
Employers-Ila Nc Ports Welfare Plan is located in Wilmington, NC. The organization was established in 1994. 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 09/2023, Employers-Ila NC Ports Welfare Plan employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Employers-Ila NC Ports Welfare Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2023, Employers-Ila NC Ports Welfare Plan generated $3.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $4.0m during the year ending 09/2023. While expenses have increased by 3.1% 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
TO PROVIDE LIFE INSURANCE, SHORT-TERM DISABILITY FOR ELIGIBLE PARTICIPANTS OF THE PLAN AND MAINTAINED PARTICIPANT ELIGIBILITY INFORMATION FOR THIRD PARTY COLLECTIVELY-BARGAINED MEDICAL, DENTAL, PHARMACY AND VISION BENEFITS FOR ALL PARTICIPANTS OF THE PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LIFE INSURANCE, SHORT-TERM DISABILITY FOR ELIGIBLE PARTICIPANTS OF THE PLAN AND MAINTAINED PARTICIPANT ELIGIBILITY INFORMATION FOR THIRD PARTY COLLECTIVELY-BARGAINED MEDICAL, DENTAL, PHARMACY AND VISION BENEFITS FOR ALL PARTICIPANTS OF THE PLAN.
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Lokey Employer Trustee Chairman | Trustee | 0.2 | $0 |
Michael Clemmons Union Trustee | Trustee | 0.2 | $28 |
Charles E Seaton Union Trustee | Trustee | 0.1 | $43 |
John W Ellis Union Trustee | Trustee | 0.1 | $0 |
Ryan Mayer Employer Trustee | Trustee | 0.2 | $0 |
Kem Frink Union Trustee | Trustee | 0.1 | $15 |
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 | $2,984,185 |
| Investment income | $81,200 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $99,569 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,762,576 |
| 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 | $3,339,164 |
| 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 | $316,537 |
| Pension plan accruals and contributions | $33,235 |
| Other employee benefits | $124,836 |
| Payroll taxes | $23,438 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,864 |
| Fees for services: Other | $4,315 |
| Advertising and promotion | $0 |
| Office expenses | $77,112 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,956 |
| Travel | $5,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,509 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,523 |
| Insurance | $26,704 |
| All other expenses | $0 |
| Total functional expenses | $4,044,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $420,488 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $708,877 |
| 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 | $24,104 |
| Net Land, buildings, and equipment | $293,187 |
| Investments—publicly traded securities | $2,256,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,702,688 |
| Accounts payable and accrued expenses | $1,005,454 |
| 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 | $1,005,454 |
| 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 | $2,697,234 |
| Total liabilities and net assets/fund balances | $3,702,688 |