Plumbers & Steamfitters Local 267 Insurance Fund
- Assets
- $38.9m
- Revenue
- $13.0m
- Investments
- $6.5m
- Employees
- 10
- Location
- Syracuse, NY
- Founding
- 02/1958
- Data as of
- 12/2021
- EIN
- 15-6025166
Organization Overview
Plumbers & Steamfitters Local 267 Insurance Fund is located in Syracuse, NY. The organization was established in 1958. 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, Plumbers & Steamfitters Local 267 Insurance Fund employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers & Steamfitters Local 267 Insurance 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, Plumbers & Steamfitters Local 267 Insurance Fund generated $13.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $10.5m during the year ending 12/2021. While expenses have increased by 4.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EMPLOYEE BENEFITS FUND
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM PROVIDES HEALTH, DENTAL, AND LIFE INSURANCE BENEFITS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael D Nanno Fund Manager | Officer | 16 | $104,853 |
Steve Perry Employer Trustee | Trustee | 0.2 | $0 |
Patrick Bonnell Employer Trustee | Trustee | 0.2 | $0 |
Mark Staub Employer Trustee | Trustee | 0.2 | $0 |
John Dineen Employer Trustee | Trustee | 0.2 | $0 |
Bradley Ward Union Trustee | Trustee | 0.5 | $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 | $10,461,100 |
| Investment income | $733,647 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,574,223 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,049,655 |
| 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 | $9,565,313 |
| 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 | $218,530 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $155,377 |
| Payroll taxes | $14,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,666 |
| Fees for services: Accounting | $45,461 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $94,338 |
| Fees for services: Other | $17,000 |
| Advertising and promotion | $0 |
| Office expenses | $12,631 |
| Information technology | $1,570 |
| Royalties | $0 |
| Occupancy | $7,152 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $224 |
| Insurance | $18,257 |
| All other expenses | $0 |
| Total functional expenses | $10,462,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $844,105 |
| Savings and temporary cash investments | $1,150,910 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,320,072 |
| 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 | $1,785 |
| Net Land, buildings, and equipment | $1,364 |
| Investments—publicly traded securities | $28,485,662 |
| Investments—other securities | $6,500,454 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $608,454 |
| Total assets | $38,912,806 |
| Accounts payable and accrued expenses | $20,256 |
| 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 | $134,637 |
| Total liabilities | $154,893 |
| 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 | $38,757,913 |
| Total liabilities and net assets/fund balances | $38,912,806 |