Health Professionals & Allied Emp Ast Afl-Cio Retiree Medical Tr
- Assets
- $33.3m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Englewood Cliffs, NJ
- Founding
- 04/2009
- Data as of
- 12/2021
- EIN
- 68-6254830
Organization Overview
Health Professionals & Allied Emp Ast Afl-Cio Retiree Medical Tr is located in Englewood Cliffs, NJ. The organization was established in 2009. According to its NTEE Classification (Y44) the organization is classified as: Voluntary Employees Beneficiary Associations Government), 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. Health Professionals & Allied Emp Ast Afl-Cio Retiree Medical Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Health Professionals & Allied Emp Ast Afl-Cio Retiree Medical Tr generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $707.2k during the year ending 12/2021. While expenses have increased by 13.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PLAN PROVIDES REIMBURSEMENT OF HEALTH INSURANCE PREMIUMS AND REIMBURSEMENT FOR MISCELLANEOUS MEDICAL EXPENSES DURING RETIREMENT FOR APPROXIMATELY 12,600 ELIGIBLE MEMBERS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE RETIREE HEALTH BENEFITS TO APPROXIMATELY 12,600 PARTICIPANTS AND DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louis Lessig Employer Trustee | Trustee | 5 | $0 |
Roy Park Employer Trustee | Trustee | 5 | $0 |
Michael Slott Union Trustee-Chairman | Trustee | 5 | $0 |
Jackie Franchetti Former Union Trustee | Trustee | 5 | $0 |
Christine O'hearn Former Employer Trustee | Trustee | 5 | $0 |
Alice Howarth Union Trustee | Trustee | 5 | $0 |
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 | $2,067,248 |
| Investment income | $1,205,965 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,426,888 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,700,101 |
| 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 | $293,084 |
| 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 | $0 |
| Fees for services: Legal | $48,789 |
| Fees for services: Accounting | $32,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,723 |
| Fees for services: Other | $24,000 |
| Advertising and promotion | $0 |
| Office expenses | $49,354 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,452 |
| All other expenses | $0 |
| Total functional expenses | $707,177 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $399,682 |
| Savings and temporary cash investments | $140,223 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $89,853 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $32,703,167 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,950 |
| Total assets | $33,337,875 |
| Accounts payable and accrued expenses | $67,792 |
| 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 | $67,792 |
| 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 | $33,270,083 |
| Total liabilities and net assets/fund balances | $33,337,875 |