Sergents Benevolent Assn Health & Welfare Fund
- Assets
- $57.9m
- Revenue
- $28.4m
- Investments
- $5.8m
- Employees
- 11
- Location
- New York, NY
- Founding
- 04/1995
- Data as of
- 06/2022
- EIN
- 13-3704948
Organization Overview
Sergents Benevolent Assn Health & Welfare Fund is located in New York, NY. The organization was established in 1995. 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 06/2022, Sergents Benevolent Assn Health & Welfare Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sergents Benevolent Assn 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 06/2022, Sergents Benevolent Assn Health & Welfare Fund generated $28.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $20.6m during the year ending 06/2022. 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 SUPPLEMENTAL HEATH BENEFITS TO COVERED MEMBERS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPLEMENTAL HEALTH BENEFITS TO COVERED MEMBERS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Vallelong Trustee | Trustee | 5 | $0 |
Edmund Small Trustee | Trustee | 5 | $0 |
Michael Peruggia Trustee | Trustee | 5 | $0 |
Edward Geary Trustee | Trustee | 5 | $0 |
Anthony Borelli Trustee | Trustee | 5 | $0 |
Donald Kipp Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Healthplex 3rd Party Admin | 6/29/22 | $370,532 |
Ungaro Cifuni & Jaffe Attorneys At Law Legal | 6/29/22 | $126,000 |
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 | $27,725,390 |
| Investment income | $361,637 |
| 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 | $28,427,131 |
| 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 | $18,781,750 |
| 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 | $657,504 |
| Pension plan accruals and contributions | $37,636 |
| Other employee benefits | $96,511 |
| Payroll taxes | $65,340 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $132,000 |
| Fees for services: Accounting | $27,169 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,590 |
| Advertising and promotion | $0 |
| Office expenses | $6,276 |
| 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 | $3,187 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,147 |
| Insurance | $5,842 |
| All other expenses | $120 |
| Total functional expenses | $20,582,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,473,398 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,651,998 |
| 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 | $7,963 |
| Net Land, buildings, and equipment | $3,219 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,793,638 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $57,930,216 |
| Accounts payable and accrued expenses | $228,645 |
| 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 | $10,972,422 |
| Total liabilities | $11,201,067 |
| 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 | $46,729,149 |
| Total liabilities and net assets/fund balances | $57,930,216 |