Plumbers-112 Welfare Plan
- Assets
- $13.8m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 1
- Location
- Binghamton, NY
- Founding
- 01/1963
- Data as of
- 12/2023
- EIN
- 16-6053348
Organization Overview
Plumbers-112 Welfare Plan is located in Binghamton, NY. The organization was established in 1963. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumbers-112 Welfare Plan 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, Plumbers-112 Welfare Plan generated $9.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $8.1m during the year ending 12/2023. While expenses have increased by 3.4% per year over the past 9 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
PROVIDE MEDICAL, VISION AND PRESCRIPTION FOR MEMBERS OF THE PLUMBERS, PIPEFITTERS AND APPRENTICES OF LOCAL 112-BINGHAMTON, NY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEDICAL, VISION AND PRESCRIPTION FOR MEMBERS OF LOCAL 112-BINGHAMTON, NY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Rounds Trustee | Trustee | 1 | $0 |
Donald Darcangelo Trustee | Trustee | 1 | $0 |
Fran Cooney Trustee | Trustee | 1 | $0 |
Daniel Crocker Business Manager/financial | Trustee | 1 | $0 |
JD Mcmaster Trustee | Trustee | 1 | $0 |
Kevin Phillips 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 | $9,015,249 |
| Investment income | $307,296 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$115,549 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,212,512 |
| 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 | $6,745,740 |
| Compensation of current officers, directors, key employees. | $40,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $72,128 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $84,381 |
| Payroll taxes | $9,056 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,298 |
| Fees for services: Accounting | $15,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,357 |
| Fees for services: Other | $923,774 |
| Advertising and promotion | $0 |
| Office expenses | $16,739 |
| Information technology | $0 |
| Royalties | $9,967 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,490 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,893 |
| Insurance | $128,189 |
| All other expenses | $0 |
| Total functional expenses | $8,120,985 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,306,347 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,195,401 |
| 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 | $100,000 |
| Net Land, buildings, and equipment | $3,839 |
| Investments—publicly traded securities | $11,160,565 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,766,152 |
| Accounts payable and accrued expenses | $47,905 |
| 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 | $252,371 |
| Total liabilities | $300,276 |
| Net assets without donor restrictions | $13,465,876 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $13,766,152 |