Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United
- Assets
- $18.2m
- Revenue
- $13.6m
- Investments
- $1.5m
- Employees
- 4
- Location
- White Plains, NY
- Founding
- 01/1958
- Data as of
- 12/2022
- EIN
- 13-5521921
Organization Overview
Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United is located in White Plains, NY. The organization was established in 1958. 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 12/2022, Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United 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, Laundry Dry Cleaning Wkrs & Allied Indust Retrmnt Fund Workers United generated $13.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $13.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 8 years. 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
VEBA HEALTH FUND PROVIDING HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL, HOSPITALIZATION, DENTAL, VISION AND PRESCRITION BENEFITS PAID TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alberto Arroyo Union Trustee | Trustee | 1 | $0 |
Michael Potack Employer Trustee | Trustee | 1 | $0 |
Meghan Chambers Union Trustee - Chairman | Trustee | 1 | $0 |
John Magliocco Employer Trustee | Trustee | 1 | $0 |
Robert Potack Employer Trustee | Trustee | 1 | $0 |
Daniel Silverman Union Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aligraphics A Division Of Alicare Administrative & Investment Services | 12/30/22 | $1,278,396 |
Empire Healthchoice Assurance Inc Claim Processing Fee | 12/30/22 | $467,654 |
Schulte Roth & Zabel Llp Legal | 12/30/22 | $126,963 |
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 | $13,228,420 |
| Investment income | $500,114 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$260,111 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,557,960 |
| 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 | $11,838,637 |
| 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 | $146,289 |
| Pension plan accruals and contributions | $17,472 |
| Other employee benefits | $46,970 |
| Payroll taxes | $14,010 |
| Fees for services: Management | $1,278,396 |
| Fees for services: Legal | $130,105 |
| Fees for services: Accounting | $34,466 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $103,771 |
| Fees for services: Other | $76,379 |
| Advertising and promotion | $0 |
| Office expenses | $18,444 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,000 |
| Travel | $3,625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $39,522 |
| All other expenses | $0 |
| Total functional expenses | $13,792,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $1,043,640 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,456,126 |
| 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 | $912 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,757,483 |
| Investments—other securities | $1,544,744 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $376,152 |
| Total assets | $18,179,307 |
| Accounts payable and accrued expenses | $126,788 |
| 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 | $242,393 |
| Total liabilities | $369,181 |
| 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 | $17,810,126 |
| Total liabilities and net assets/fund balances | $18,179,307 |