Private Sanitation Union-813 Insurance Trust Fund
- Assets
- $59.7m
- Revenue
- $28.6m
- Investments
- $13.6m
- Employees
- 0
- Location
- Long Island City, NY
- Founding
- 05/1953
- Data as of
- 12/2023
- EIN
- 13-5603868
Organization Overview
Private Sanitation Union-813 Insurance Trust Fund is located in Long Island City, NY. The organization was established in 1953. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Private Sanitation Union-813 Insurance 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 12/2023, Private Sanitation Union-813 Insurance Trust Fund generated $28.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $27.8m during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE UNION PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE UNION PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean T Campbell Trustee | Trustee | 2 | $38,400 |
Jeffrey Gutterman Trustee | Trustee | 2 | $0 |
Robert Tillis Trustee | Trustee | 2 | $0 |
Nicholas Orlando Trustee | Trustee | 2 | $0 |
Daniel Wright Trustee | Trustee | 2 | $0 |
Richard Laecca Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aetna Life Insurance Company Claims Processor And Ppo Access | 12/30/23 | $808,545 |
Proskauer Rose Legal Services | 12/30/23 | $172,038 |
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 | $26,350,116 |
| Investment income | $1,730,959 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $540,857 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,621,932 |
| 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 | $26,699,530 |
| Compensation of current officers, directors, key employees. | $38,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $240,051 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $123,961 |
| Payroll taxes | $18,230 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $172,038 |
| Fees for services: Accounting | $56,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $205,797 |
| Fees for services: Other | $52,651 |
| Advertising and promotion | $0 |
| Office expenses | $44,846 |
| Information technology | $81,903 |
| Royalties | $0 |
| Occupancy | $58,541 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,319 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $28,055 |
| All other expenses | $0 |
| Total functional expenses | $27,827,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,210,228 |
| Savings and temporary cash investments | $4,064,037 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,492,970 |
| 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 | $50,024 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $35,275,649 |
| Investments—other securities | $13,564,140 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $59,657,048 |
| Accounts payable and accrued expenses | $140,965 |
| 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 | $9,148,688 |
| Total liabilities | $9,289,653 |
| 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 | $50,367,395 |
| Total liabilities and net assets/fund balances | $59,657,048 |