Iuoe Local 30 Benefits Fund
- Assets
- $105.0m
- Revenue
- $80.7m
- Investments
- $53.2m
- Employees
- 18
- Location
- Whitestone, NY
- Founding
- 01/1956
- Data as of
- 12/2022
- EIN
- 13-2873303
Organization Overview
Iuoe Local 30 Benefits Fund is located in Whitestone, NY. The organization was established in 1956. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Iuoe Local 30 Benefits Fund employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iuoe Local 30 Benefits Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Iuoe Local 30 Benefits Fund generated $80.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $88.5m during the year ending 12/2022. While expenses have increased by 9.6% per year over the past 8 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
TO PROVIDE MEDICAL BENEFITS, SECOND OPINIONS, DENTAL,HYPERTENSION, ANNUAL PHYSICALS, OPTICAL BENEFITS, PRESCRIPTION DRUGS, ACCIDENTAL DEATH & DISMEMBERMENT, HOSPITAL & SURGICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL BENEFITS, SECOND OPINIONS, DENTAL,HYPERTENSION, ANNUAL PHYSICALS, OPTICAL BENEFITS, PRESCRIPTION DRUGS, ACCIDENTAL DEATH & DISMEMBERMENT, HOSPITAL & SURGICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Lynn Union Trustee - Chairman | Trustee | 1 | $0 |
Robert Moccio Union Trustee | Trustee | 1 | $0 |
Kevin Cruse Union Trustee | Trustee | 1 | $0 |
Robert Wilson Union Trustee | Trustee | 1 | $0 |
Dana Sanders Union Trustee | Trustee | 1 | $0 |
Brendan Mcpartland Union Trustee (p) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Optumrx Inc Claims Processing | 12/30/22 | $13,177,542 |
Empire Healthchoice Assurance Inc Claims Administration | 12/30/22 | $1,804,636 |
Marshall & Moss Payroll Compliance Servi Accounting | 12/30/22 | $296,445 |
The Segal Company Consultant | 12/30/22 | $158,750 |
Davis Vision Inc Claims Processing | 12/30/22 | $144,658 |
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 | $73,490,567 |
| Investment income | $898,079 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,309,758 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,705,152 |
| 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 | $86,142,610 |
| Compensation of current officers, directors, key employees. | $90,616 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $706,951 |
| Pension plan accruals and contributions | $232,941 |
| Other employee benefits | $83,883 |
| Payroll taxes | $56,527 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,409 |
| Fees for services: Accounting | $220,616 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $102,801 |
| Fees for services: Other | $158,750 |
| Advertising and promotion | $0 |
| Office expenses | $67,555 |
| Information technology | $34,915 |
| Royalties | $0 |
| Occupancy | $364,537 |
| Travel | $12,928 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,138 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,848 |
| Insurance | $13,251 |
| All other expenses | $17,783 |
| Total functional expenses | $88,493,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,936 |
| Savings and temporary cash investments | $7,348,978 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,173,106 |
| 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 | $57,289 |
| Net Land, buildings, and equipment | $300,937 |
| Investments—publicly traded securities | $30,910,059 |
| Investments—other securities | $53,160,511 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $105,021,816 |
| Accounts payable and accrued expenses | $206,266 |
| 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 | $55,966 |
| Total liabilities | $262,232 |
| 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 | $104,759,584 |
| Total liabilities and net assets/fund balances | $105,021,816 |