Psc-Cuny Welfare Fund

Organization Overview

Psc-Cuny Welfare Fund is located in Brooklyn, NY. The organization was established in 1967. 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 06/2022, Psc-Cuny Welfare Fund employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Psc-Cuny 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 06/2022, Psc-Cuny Welfare Fund generated $46.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $41.7m during the year ending 06/2022. While expenses have increased by 3.7% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ALL QUALIFYING PLAN PARTICIPANTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THROUGH COLLECTIVELY BARGAINED AGREEMENTS WITH THE CITY UNIVERSITY OF NEW YORK, THE FUND COLLECTS CONTRIBUTIONS AND PROVIDES HEALTH AND WELFARE BENEFITS FOR ALL QUALIFYING PLAN PARTICIPANTS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cvs Caremark
Administrative Fees
$717,576
Guardian Life Insurance
Service Fees
$703,390
Segal Consulting
Claims Processing
$112,500
View All Vendors

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$45,107,546
Investment income $1,696,584
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$111,804
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $46,782,965

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