Rochester Laborers Welfare-Sub Fund
- Assets
- $22.3m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Rochester, NY
- Founding
- 09/1959
- Data as of
- 12/2023
- EIN
- 16-0821557
Organization Overview
Rochester Laborers Welfare-Sub Fund is located in Rochester, 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 12/2023, Rochester Laborers Welfare-Sub Fund employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Laborers Welfare-Sub Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Rochester Laborers Welfare-Sub Fund generated $10.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $10.7m during the year ending 12/2023. While expenses have increased by 3.2% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WELFARE & SUPPLEMENTAL UNEMPLOYMENT BENEFITS FOR UNION MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE INSURANCE, ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE, HOSPITAL, SURGICAL, MEDICAL, DENTAL, OPTICAL, PRESCRIPTION, SUPPLEMENTAL UNEMPLOYMENT BENEFITS, WEEKLY ACCIDENT & SICKNESS BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Kuntz Union Trustee | Trustee | 5 | $0 |
Carmen Serrett Jr Union Trustee | Trustee | 5 | $0 |
Austin Kuntz Union Trustee | Trustee | 5 | $0 |
Kenneth Stewart Employer Trustee | Trustee | 5 | $0 |
Chris Dipasquale Employer Trustee | Trustee | 5 | $0 |
Daniel Hogan Employer Trustee | Trustee | 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 | $9,281,773 |
| Investment income | $865,719 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,036 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,639,534 |
| 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 | $9,684,611 |
| 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 | $268,222 |
| Pension plan accruals and contributions | $21,112 |
| Other employee benefits | $73,343 |
| Payroll taxes | $20,895 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $106,757 |
| Fees for services: Accounting | $183,536 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,830 |
| Fees for services: Other | $41,492 |
| Advertising and promotion | $0 |
| Office expenses | $77,087 |
| Information technology | $50,767 |
| Royalties | $0 |
| Occupancy | $58,563 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,682 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,298 |
| Insurance | $52,536 |
| All other expenses | $0 |
| Total functional expenses | $10,734,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,805,542 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,407,978 |
| 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 | $152,624 |
| Net Land, buildings, and equipment | $54,996 |
| Investments—publicly traded securities | $17,701,271 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $162,635 |
| Total assets | $22,285,046 |
| Accounts payable and accrued expenses | $632,724 |
| 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 | $36,813 |
| Total liabilities | $669,537 |
| 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 | $21,615,509 |
| Total liabilities and net assets/fund balances | $22,285,046 |