Local 812 Health Fund
- Assets
- $20.8m
- Revenue
- $46.4m
- Investments
- $0.0
- Employees
- 3,121
- Location
- Great Neck, NY
- Founding
- 08/1960
- Data as of
- 12/2021
- EIN
- 13-6162404
Organization Overview
Local 812 Health Fund is located in Great Neck, NY. The organization was established in 1960. 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 12/2021, Local 812 Health Fund employed 3,121 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 812 Health Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Local 812 Health Fund generated $46.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $60.0m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOSPITALIZATION, DRUG, DENTAL, LIFE, VISION, DISABILITY AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND COVERED DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOSPITALIZATION, DRUG, DENTAL, LIFE, VISION, DISABILITY AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND COVERED DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Scarpati Controller | 20 | $77,491 | |
Joseph Vitta Trustee | Trustee | 5 | $0 |
John Visconti Trustee | Trustee | 5 | $0 |
Angel Martinez Trustee | Trustee | 5 | $0 |
James Surdi Trustee | Trustee | 5 | $0 |
Mark Pooler Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Magnacare Provider Network Admin | 12/30/21 | $2,335,694 |
Tpa Computer Corp Consultant | 12/30/21 | $439,827 |
Davis Vision Claims Processing | 12/30/21 | $169,077 |
Cary Kane Llp Legal | 12/30/21 | $153,296 |
James L Greene Esq Legal | 12/30/21 | $140,500 |
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 | $43,552,723 |
| Investment income | $626,300 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,103,656 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,382,679 |
| 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 | $58,856,952 |
| 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 | $296,147 |
| Pension plan accruals and contributions | $49,405 |
| Other employee benefits | $44,754 |
| Payroll taxes | $22,898 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $294,146 |
| Fees for services: Accounting | $108,626 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,109 |
| Fees for services: Other | $57,265 |
| Advertising and promotion | $0 |
| Office expenses | $20,000 |
| Information technology | $12,306 |
| Royalties | $0 |
| Occupancy | $145,383 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,442 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,594 |
| Insurance | $35,275 |
| All other expenses | $19,871 |
| Total functional expenses | $60,015,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $763,252 |
| Savings and temporary cash investments | $1,355,807 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $178,039 |
| 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 | $59,350 |
| Investments—publicly traded securities | $17,162,061 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,237,018 |
| Total assets | $20,755,527 |
| Accounts payable and accrued expenses | $53,802 |
| 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 | $25,004,200 |
| Total liabilities | $25,058,002 |
| 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 | -$4,302,475 |
| Total liabilities and net assets/fund balances | $20,755,527 |