Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274
- Assets
- $14.3m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Hopatcong, NJ
- Founding
- 01/1958
- Data as of
- 12/2021
- EIN
- 22-1530864
Organization Overview
Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274 is located in Hopatcong, NJ. The organization was established in 1958. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274 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, Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274 generated $11.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $8.4m during the year ending 12/2021. While expenses have increased by 1.6% 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
PROVIDE GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED GROUP HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Armistead Trustee | Trustee | 0 | $0 |
Michael Stiles Trustee | Trustee | 0 | $0 |
Edward Discoll Trustee | Trustee | 0 | $0 |
Marty Drobny - Mca Trustee | Trustee | 0 | $0 |
Robert Durr-Binskysnyder Trustee | Trustee | 0 | $0 |
Warren Stella Trustee | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aetna Claims Processing | 12/30/21 | $210,346 |
Basil Castrovinci Associates Tpa & Actuary | 12/30/21 | $230,174 |
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 | $10,847,074 |
| Investment income | $78,115 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,043,996 |
| 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 | $7,820,169 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,697 |
| Fees for services: Accounting | $30,964 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,830 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,472 |
| 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 | $0 |
| Insurance | $2,233 |
| All other expenses | $0 |
| Total functional expenses | $8,352,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,819,177 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $993,576 |
| 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 | $0 |
| Investments—publicly traded securities | $10,424,362 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,557 |
| Total assets | $14,253,672 |
| Accounts payable and accrued expenses | $290,799 |
| 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 | $1,191,518 |
| Total liabilities | $1,482,317 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12,771,355 |
| 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 | $14,253,672 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Suffolk County Municipal Employees Benefit Fund Bohemia, NY | $36,557,541 | $14,741,680 |
Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 274 Hopatcong, NJ | $14,253,672 | $11,043,996 |
Wine & Liquor Salesmen Of New Jersey Welfare Fund Brooklyn, NY | $403,404 | $7,111,083 |
Local 373 Ua Health & Welfare Fund Mountainville, NY | $13,627,020 | $6,201,187 |
District Council 37 Cultural Inst Health & Security Plan Tr New York, NY | $16,457,918 | $5,927,391 |
Harrison Teachers Benefits Harrison, NY | $959,953 | $920,304 |
Liquor Salesmens Union Local 2 Insurance Trust Fund Brooklyn, NY | $5,353,320 | $905,370 |
Retiree Medical Benefits Tr For Certain Retirees Of Pan American Hauppauge, NY | $81,159 | $0 |
Amalgamated Meatcutters & Retail Fd Store Emp Loc 342 Wel A&p Fund Mineola, NY | $218,773 | $0 |
American Guild Of Variety Artists General Sick And Relief Fund New York, NY | $1,097,722 | $617 |
Human Service Agencies Health Care Fund Elmira, NY | $631 | $0 |