Cement & Concrete Workers District Council Welfare Fund
- Assets
- $80.6m
- Revenue
- $25.9m
- Investments
- $43.9m
- Employees
- 11
- Location
- Bayside, NY
- Founding
- 11/1962
- Data as of
- 12/2023
- EIN
- 13-5542693
Organization Overview
Cement & Concrete Workers District Council Welfare Fund is located in Bayside, NY. The organization was established in 1962. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2023, Cement & Concrete Workers District Council Welfare Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cement & Concrete Workers District Council 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 12/2023, Cement & Concrete Workers District Council Welfare Fund generated $25.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $37.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angelo Angelone Union Trustee | Trustee | 1 | $0 |
Michael Salgo Employer Trustee | Trustee | 1 | $0 |
Eric Lee Employer Trustee | Trustee | 1 | $0 |
Anthony Amella Union Trustee | Trustee | 1 | $0 |
Kieran O'sullivan Union Trustee | Trustee | 1 | $0 |
John Peters Union Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Healthchoice Assurance Inc Health Claims Proces | 12/30/23 | $545,356 |
Proskauer Rose Llp Legal | 12/30/23 | $185,298 |
Gorlick Kravitz & Listhaus Pc Legal | 12/30/23 | $519,441 |
Fitzsimmons Abrams Llp Payroll Audit | 12/30/23 | $251,602 |
Basys Computer | 12/30/23 | $176,070 |
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 | $20,602,604 |
| Investment income | $1,409,860 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,504,160 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,905,933 |
| 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 | $35,725,322 |
| Compensation of current officers, directors, key employees. | $54,474 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $894,219 |
| Pension plan accruals and contributions | $258,442 |
| Other employee benefits | $97,731 |
| Payroll taxes | $74,543 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $704,739 |
| Fees for services: Accounting | $322,332 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $108,397 |
| Fees for services: Other | $140,653 |
| Advertising and promotion | $0 |
| Office expenses | $183,887 |
| Information technology | $275,012 |
| Royalties | $0 |
| Occupancy | $149,357 |
| Travel | $0 |
| 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 | $75,382 |
| Insurance | $119,548 |
| All other expenses | -$1,647,837 |
| Total functional expenses | $37,536,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,443,797 |
| Savings and temporary cash investments | $1,514,054 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,139,247 |
| 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 | $0 |
| Net Land, buildings, and equipment | $596,822 |
| Investments—publicly traded securities | $26,052,086 |
| Investments—other securities | $43,901,427 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $80,647,433 |
| Accounts payable and accrued expenses | $64,382 |
| 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 | $5,282,157 |
| Total liabilities | $5,346,539 |
| 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 | $75,300,894 |
| Total liabilities and net assets/fund balances | $80,647,433 |