Rdwa 8
- Assets
- $37.3m
- Revenue
- $31.9m
- Investments
- $16.6m
- Employees
- 14
- Location
- Long Island City, NY
- Founding
- 12/1951
- Data as of
- 12/2021
- EIN
- 11-1653210
Organization Overview
Rdwa 8 is located in Long Island City, NY. The organization was established in 1951. 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 12/2021, Rdwa 8 employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rdwa 8 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, Rdwa 8 generated $31.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $30.7m during the year ending 12/2021. While expenses have increased by 13.5% 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
PROVIDE HEALTH & WELFARE BENEFITS TO ELIGIBLE MEMBERS UNDER A C.B.A.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HEALTH & WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Sabatino Employer Trustee | Trustee | 2 | $0 |
Dennis Squilla Former Employer Trustee | Trustee | 2 | $0 |
Nicholas Siciliano Union Trustee | Trustee | 2 | $0 |
Robert Ventura Union Trustee/training Dir | Trustee | 2 | $0 |
Scott Wolkowitz Employer Trustee | Trustee | 2 | $0 |
Barry Schader Union Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cigna Medical & Dental Premiums | 12/30/20 | $16,386,550 |
Optum Rx Prescription Premiums | 12/30/20 | $1,627,598 |
Zenith American Solutions Third Party Administrator | 12/30/20 | $140,580 |
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 | $31,493,663 |
| Investment income | $372,980 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,876,312 |
| 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 | $30,120,228 |
| 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 | $9,296 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,676 |
| Payroll taxes | $2,657 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $97,543 |
| Fees for services: Accounting | $95,778 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,764 |
| Fees for services: Other | $213,920 |
| Advertising and promotion | $0 |
| Office expenses | $36,271 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $52,555 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,288 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,920 |
| All other expenses | $0 |
| Total functional expenses | $30,700,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,831,766 |
| Savings and temporary cash investments | $12,671,671 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,494,488 |
| 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 | $6,643 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $16,572,559 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $713,778 |
| Total assets | $37,290,905 |
| Accounts payable and accrued expenses | $51,907 |
| 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 | $6,922,147 |
| Total liabilities | $6,974,054 |
| 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 | $30,316,851 |
| Total liabilities and net assets/fund balances | $37,290,905 |