Massachusetts Bricklayers And Masons Health & Welfare Fund
- Assets
- $55.1m
- Revenue
- $32.7m
- Investments
- $48.1m
- Employees
- 26
- Location
- Boston, MA
- Founding
- 03/1954
- Data as of
- 03/2022
- EIN
- 04-2145367
Organization Overview
Massachusetts Bricklayers And Masons Health & Welfare Fund is located in Boston, MA. The organization was established in 1954. 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 03/2022, Massachusetts Bricklayers And Masons Health & Welfare Fund employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Bricklayers And Masons Health & 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 03/2022, Massachusetts Bricklayers And Masons Health & Welfare Fund generated $32.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $31.1m during the year ending 03/2022. While expenses have increased by 2.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEDICAL BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEDICAL BENEFITS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Raso II Executive Director | Officer | 8 | $72,197 |
Ray Gaita Jr Assistant To Executive Dir | 6 | $46,277 | |
William Mcconnell Trustee | Trustee | 2 | $0 |
Patrick Folan Trustee | Trustee | 2 | $0 |
Gregory Salvucci Trustee | Trustee | 2 | $0 |
Thomas Mccormick Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Healthcare And Stop Loss Insurance | 3/30/22 | $851,728 |
Delta Dental Dental Care | 3/30/22 | $113,162 |
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 | $29,669,077 |
| Investment income | $247,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,748,788 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,665,597 |
| 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 | $29,063,844 |
| 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 | $484,840 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $134,720 |
| Payroll taxes | $45,853 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,455 |
| Fees for services: Accounting | $36,630 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $85,733 |
| Fees for services: Other | $71,752 |
| Advertising and promotion | $0 |
| Office expenses | $25,227 |
| Information technology | $62,106 |
| Royalties | $0 |
| Occupancy | $61,863 |
| Travel | $6,372 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,992 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,082 |
| Insurance | $19,097 |
| All other expenses | $4,113 |
| Total functional expenses | $31,054,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,266,812 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,661,576 |
| 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 | $25,200 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $48,071,506 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,170 |
| Total assets | $55,070,264 |
| Accounts payable and accrued expenses | $251,788 |
| 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 | $1,058,337 |
| Total liabilities | $1,310,125 |
| 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 | $53,760,139 |
| Total liabilities and net assets/fund balances | $55,070,264 |