N Y C District Council Carpenters Welfare Fund
- Assets
- $861.3m
- Revenue
- $438.0m
- Investments
- $414.7m
- Employees
- 98
- Location
- New York, NY
- Founding
- 11/1951
- Data as of
- 06/2020
- EIN
- 13-5615576
Organization Overview
N Y C District Council Carpenters Welfare Fund is located in New York, NY. The organization was established in 1951. 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 06/2020, N Y C District Council Carpenters Welfare Fund employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, N Y C District Council Carpenters Welfare Fund generated $438.0m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $399.4m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Stewart Executive Dir. | Officer | 17 | $364,560 |
Robert Lesniewski CFO | Officer | 17 | $310,177 |
David Jacobsen Controller | 17 | $181,182 | |
Benjamin Lambert It Director | 17 | $162,814 | |
Kristin O'brien Fowlkes Admin Svcs Director | 17 | $137,156 | |
Frances Considine Welfare Director | 17 | $137,112 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Express Scripts Inc Prescr Claim Process | 6/29/20 | $904,152 |
Virginia & Ambinder Llp Legal Counsel | 6/29/20 | $1,921,123 |
Schultheis & Panettieri Llp Audit/pr Audit | 6/29/20 | $1,658,244 |
Empire Blue Cross Health Claim Process | 6/29/20 | $7,359,576 |
Novak Francella Llc Pr Audit | 6/29/20 | $1,212,398 |
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 | $406,747,811 |
| Investment income | $11,358,267 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,591,380 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $437,967,328 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $336,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $386,722,090 |
| Compensation of current officers, directors, key employees. | $769,517 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,144,055 |
| Pension plan accruals and contributions | $864,751 |
| Other employee benefits | $834,445 |
| Payroll taxes | $213,099 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,166,808 |
| Fees for services: Accounting | $1,551,446 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,594,868 |
| Fees for services: Other | $295,196 |
| Advertising and promotion | $0 |
| Office expenses | $376,815 |
| Information technology | $497,050 |
| Royalties | $0 |
| Occupancy | $922,045 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,537 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $242,288 |
| Insurance | $182,467 |
| All other expenses | $0 |
| Total functional expenses | $399,397,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,523,810 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,280,955 |
| 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 | $922,309 |
| Investments—publicly traded securities | $405,586,453 |
| Investments—other securities | $414,668,336 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $365,068 |
| Total assets | $861,346,931 |
| Accounts payable and accrued expenses | $2,453,181 |
| 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 | $99,520,239 |
| Total liabilities | $101,973,420 |
| 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 | $759,373,511 |
| Total liabilities and net assets/fund balances | $861,346,931 |