H&gl Welfare Fund
- Assets
- $247.1m
- Revenue
- $183.1m
- Investments
- $10.3m
- Employees
- 53
- Location
- Newark, NJ
- Founding
- 11/1952
- Data as of
- 03/2019
- EIN
- 22-1481564
Organization Overview
H&gl Welfare Fund is located in Newark, NJ. The organization was established in 1952. 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 03/2019, H&gl Welfare Fund employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 03/2019, H&gl Welfare Fund generated $183.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $164.1m during the year ending 03/2019. While expenses have increased by 4.9% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles O'neil Former General Mgr | 0 | $251,127 | |
Robert Calamari Gen'l Mgr | Officer | 20 | $228,301 |
Thomas Cotov Legal Services | 35 | $201,171 | |
Vincent Riccardi Legal Services | 35 | $177,932 | |
Beverly Ceasar Asst Gen'l Mgr | Officer | 20 | $166,829 |
Charles Ferns Finance Manager | 16 | $152,568 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Horizon Healthcare Services Inc Claims Processor | 3/30/19 | $1,512,598 |
Western Asset Management Investment Manager | 3/30/19 | $199,505 |
Meritain Health Inc Claims Processor | 3/30/19 | $1,860,239 |
The Segal Company Consultant | 3/30/19 | $182,741 |
Zazzali Fagella Nowak Legal | 3/30/19 | $435,320 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $5,101,840 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $153,999 |
| Net Gain/Loss on Asset Sales | -$1,205,730 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $183,137,642 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $158,889,185 |
| Compensation of current officers, directors, key employees. | $792,191 |
| Compensation to disqualified persons | $162,257 |
| Other salaries and wages | $2,483,059 |
| Pension plan accruals and contributions | $1,404,481 |
| Other employee benefits | $656,604 |
| Payroll taxes | $290,074 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $486,073 |
| Fees for services: Accounting | $65,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $286,247 |
| Fees for services: Other | $163,269 |
| Advertising and promotion | $0 |
| Office expenses | $341,692 |
| Information technology | $77,009 |
| Royalties | $0 |
| Occupancy | $100,957 |
| Travel | $12,547 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,594 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,988 |
| Insurance | $139,068 |
| All other expenses | $0 |
| Total functional expenses | $164,134,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,509,194 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,083,237 |
| 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 | $1,760,992 |
| Investments—publicly traded securities | $167,731,544 |
| Investments—other securities | $10,266,617 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $247,131,074 |
| Accounts payable and accrued expenses | $4,269,687 |
| 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 | $36,909,015 |
| Total liabilities | $41,178,702 |
| 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 |
| Total liabilities and net assets/fund balances | $205,952,372 |