Albany Permanent Prof Firefighters Assn Local 2007 & 2007a Iaff Welfa
- Assets
- $2.3m
- Revenue
- $665.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Albany, NY
- Founding
- 03/1996
- Data as of
- 06/2023
- EIN
- 14-1770759
Organization Overview
Albany Permanent Prof Firefighters Assn Local 2007 & 2007a Iaff Welfa is located in Albany, NY. The organization was established in 1996. According to its NTEE Classification (M24) the organization is classified as: Fire Prevention, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. As of 06/2023, Albany Permanent Prof Firefighters Assn Local 2007 & 2007a Iaff Welfa employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Permanent Prof Firefighters Assn Local 2007 & 2007a Iaff Welfa is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, Albany Permanent Prof Firefighters Assn Local 2007 & 2007a Iaff Welfa generated $665.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $591.7k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 8 years. 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
ASSOCIATION RECEIVES REVENUE FROM THE CITY OF ALBANY. THIS REVENUE IS USED TO PROVIDE VARIOUS HEALTH BENEFITS TO FIREFIGHTERS. THE ASSOCIATION IS ORGANIZED AS A TRUST TO REIMBURSE ACTIVE UNIFORMED MEMBERS OF THE ALBANY (NEW YORK) FIRE DEPARTMENT AND THEIR DEPENDENTS FOR DENTAL, VISION CARE, PRESCRIPTION MEDICATION AND HEALTH CLUB EXPENSES, UP TO SPECIFIED LIMITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DENTAL BENEFITS 263,041 OPTICAL BENEFITS 106,537 PRESCRIPTION DRUG BENEFITS 23,682 MISCELLANEOUS/SUPPLEMENTAL 26,810 MEMBERSHIP-JCC 8,500 HEALTH/MED CO-PAYS 97,939 ------- TOTAL 526,509
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Mengel President | Officer | 5 | $5,000 |
George Sokaris Treasurer | Officer | 8 | $7,500 |
Charles Cahill Secretary | Officer | 8 | $7,500 |
Richard Allen Trustee | Trustee | 4 | $5,000 |
Timothy M Lasher Trustee | Trustee | 5 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $657,824 |
| 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 | $657,824 |
| Total Program Service Revenue | $0 |
| Investment income | $37,117 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$29,179 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $665,762 |
| 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 | $526,509 |
| 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 | $35,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,884 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $327 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,400 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,577 |
| Insurance | $1,440 |
| All other expenses | $0 |
| Total functional expenses | $591,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,764 |
| Savings and temporary cash investments | $510,810 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $657,824 |
| 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 | $2,700 |
| Net Land, buildings, and equipment | $4,523 |
| Investments—publicly traded securities | $1,065,322 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,000 |
| Total assets | $2,288,943 |
| Accounts payable and accrued expenses | $7,652 |
| 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 | $0 |
| Total liabilities | $7,652 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $2,281,291 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,288,943 |