Local 522 Ind Roofing & Sheetmetal Crafts Welfare Fund
- Assets
- $2.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 173
- Location
- Brooklyn, NY
- Founding
- 02/1965
- Data as of
- 12/2021
- EIN
- 11-1854964
Organization Overview
Local 522 Ind Roofing & Sheetmetal Crafts Welfare Fund is located in Brooklyn, NY. The organization was established in 1965. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Local 522 Ind Roofing & Sheetmetal Crafts Welfare Fund employed 173 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 522 Ind Roofing & Sheetmetal Crafts 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 12/2021, Local 522 Ind Roofing & Sheetmetal Crafts Welfare Fund generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 5.3% 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
PROVIDING HEALTH & WELFARE BENEFITS TO PARTICIPANTS COVERED BY COLLECTIVE BARGAINING AGREEMENTS. BENEFITS INCLUDE MEDICAL, HOSPITAL, DENTAL, OPTICAL, DEATH AND HOLIDAY BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROVIDING OF HEALTH AND WELFARE BENEFITS TO PARTICIPANTS AND DEPENDENTS. BENEFITS INCLUDE MEDICAL, HOSPITAL, DENTAL, OPTICAL, DEATH AND HOLIDAY BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Kane Trustee | Trustee | 1 | $0 |
Peter Murphy Trustee | Trustee | 1 | $0 |
Andrew Wist Trustee | Trustee | 1 | $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 | $1,309,477 |
| Investment income | $12,160 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $143,307 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,464,944 |
| 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 | $1,205,887 |
| 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 | $42,475 |
| Fees for services: Accounting | $26,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,684 |
| Fees for services: Other | $19,373 |
| Advertising and promotion | $0 |
| Office expenses | $513 |
| 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 | $2,318 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,121 |
| All other expenses | $15,301 |
| Total functional expenses | $1,321,897 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$56,999 |
| Savings and temporary cash investments | $626,333 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $129,802 |
| 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 | $1,435 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,679,797 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,380,368 |
| Accounts payable and accrued expenses | $39,240 |
| 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 | $157,000 |
| Total liabilities | $196,240 |
| 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 | $2,184,128 |
| Total liabilities and net assets/fund balances | $2,380,368 |
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|---|---|---|
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |
Conservation Center For Art And Historic Artifacts Philadelphia, PA | $4,515,696 | $3,186,711 |
Clay Studio Philadelphia, PA | $16,944,971 | $9,873,164 |
Van Alen Institute Projects In Public Architecture Brooklyn, NY | $44,490,814 | $3,072,994 |
Urbanglass New York Contemporary Glass Center Inc Brooklyn, NY | $1,687,992 | $2,437,335 |
American Institute Of Architects New York, NY | $10,952,534 | $3,079,461 |
Manchester Craftsmens Guild Pittsburgh, PA | $15,522,345 | $4,460,670 |