Hollow Metal Trust Fund
- Assets
- $38.3m
- Revenue
- $12.7m
- Investments
- $5.1m
- Employees
- 27
- Location
- New York, NY
- Founding
- 05/1988
- Data as of
- 12/2021
- EIN
- 11-2750720
Organization Overview
Hollow Metal Trust Fund is located in New York, NY. The organization was established in 1988. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Hollow Metal Trust Fund employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hollow Metal Trust 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, Hollow Metal Trust Fund generated $12.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $13.3m during the year ending 12/2021. While expenses have increased by 5.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES MEDICAL, SURGICAL, HOSPITALIZATION, PRESCRIPTION, DENTAL, OPTICAL, DISABILITY AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISBURSEMENT FOR MEDICAL, PRESCRIPTION, DENTAL, OPTICAL, DISABILITY AND DEATH BENEFIT CLAIMS SUBMITTED BY QUALIFIED COVERED EMPLOYEES OF UNIONS AFFILIATED WITH THE TRUST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neil Sandy Executive Director | 45 | $101,473 | |
Mike Cavanaugh Union Trustee | Trustee | 2 | $0 |
Vincent Gallo Employer Trustee - Chairma | Trustee | 2 | $0 |
Edmund Greco Employer Trustee | Trustee | 2 | $0 |
Joseph Geiger Union Trustee | Trustee | 2 | $0 |
Robert Villalta Union Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sele-dent Claims Administration | 12/30/21 | $153,751 |
Empire Healthchoice Assurance Inc Claims Administration | 12/30/21 | $373,954 |
C & R Consulting Inc Claims Administration | 12/30/21 | $145,268 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $69,200 |
| 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 | $69,200 |
| Total Program Service Revenue | $8,371,795 |
| Investment income | $779,681 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,402,309 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,661,866 |
| 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 | $12,298,630 |
| 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 | $212,820 |
| Pension plan accruals and contributions | $98,469 |
| Other employee benefits | $95,267 |
| Payroll taxes | $98,373 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $75,575 |
| Fees for services: Accounting | $96,085 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $75,485 |
| Fees for services: Other | $59,212 |
| Advertising and promotion | $0 |
| Office expenses | $50,342 |
| Information technology | $49,769 |
| Royalties | $0 |
| Occupancy | $72,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,867 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,324 |
| Insurance | $22,969 |
| All other expenses | $4,735 |
| Total functional expenses | $13,341,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,636 |
| Savings and temporary cash investments | $968,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $871,083 |
| 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 | $28,128 |
| Net Land, buildings, and equipment | $2,261 |
| Investments—publicly traded securities | $28,580,489 |
| Investments—other securities | $5,126,398 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,573,768 |
| Total assets | $38,290,021 |
| Accounts payable and accrued expenses | $61,655 |
| 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 | $61,655 |
| Net assets without donor restrictions | $38,228,366 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $38,290,021 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jader Trust 4 New York, NY | $1,054,851,689 | $157,383,970 |
Rockefeller Family Fund Inc New York, NY | $156,631,848 | $43,772,368 |
Shapiro-Silverberg Foundation New York, NY | $41,665,129 | $24,069,378 |
Hess Philanthropic Fund New York, NY | $231,447,732 | $32,591,174 |
Edith L Trees Charitable Trust Pittsburgh, PA | $351,552,610 | $23,983,044 |
Natural Heritage Trust Albany, NY | $68,314,961 | $23,861,363 |
Hollow Metal Trust Fund New York, NY | $38,290,021 | $12,661,866 |
Halvorsen Family Foundation Greenwich, CT | $235,306,066 | $4,015,208 |
Adp Foundation Roseland, NJ | $23,560,078 | $20,725,290 |
Lynch Foundation Boston, MA | $176,006,196 | $42,142,694 |
Foundation Berma New York, NY | $320,553,699 | $33,382,644 |
Bam Endowment Trust Brooklyn, NY | $106,959,115 | $5,566,840 |