Plumbers And Steamfitters-7 Welfare Fund
- Assets
- $86.3m
- Revenue
- $18.0m
- Investments
- $67.4m
- Employees
- 4
- Location
- Latham, NY
- Founding
- 01/1959
- Data as of
- 05/2022
- EIN
- 14-6029930
Organization Overview
Plumbers And Steamfitters-7 Welfare Fund is located in Latham, NY. The organization was established in 1959. 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 05/2022, Plumbers And Steamfitters-7 Welfare Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers And Steamfitters-7 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 05/2022, Plumbers And Steamfitters-7 Welfare Fund generated $18.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $16.6m during the year ending 05/2022. While expenses have increased by 3.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE FUND IS TO PROVIDE BENEFITS TO LOCAL NO. 7 UNION MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE INSURANCE AND HEALTH CARE COVERAGE FOR HOSPITAL, X-RAY AND LAB FEES, SURGICAL AND MEDICAL FEES AND OTHER COSTS FOR UNION MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Heimroth Fund Administrator | Officer | 40 | $108,198 |
Kyle Piazza Trustee | Trustee | 1 | $0 |
Edward Nadeau Trustee | Trustee | 1 | $0 |
Peter Campito Trustee | Trustee | 1 | $0 |
Daniel Keating Trustee | Trustee | 1 | $0 |
Robert Snyder Trustee | Trustee | 1 | $0 |
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 | $14,203,157 |
| Investment income | $1,746,343 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,451,992 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,993,186 |
| 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 | $15,765,027 |
| Compensation of current officers, directors, key employees. | $151,820 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,550 |
| Pension plan accruals and contributions | $40,425 |
| Other employee benefits | $0 |
| Payroll taxes | $14,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,945 |
| Fees for services: Accounting | $31,711 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $216,243 |
| Fees for services: Other | $47,200 |
| Advertising and promotion | $0 |
| Office expenses | $67,555 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,816 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,406 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,971 |
| Insurance | $2,192 |
| All other expenses | $0 |
| Total functional expenses | $16,556,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,121,281 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $12,713 |
| Investments—publicly traded securities | $16,066,283 |
| Investments—other securities | $67,435,302 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,690,928 |
| Total assets | $86,326,507 |
| Accounts payable and accrued expenses | $194,626 |
| 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 | $20,014 |
| Total liabilities | $214,640 |
| 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 | $86,111,867 |
| Total liabilities and net assets/fund balances | $86,326,507 |