Welfare & Pension Funds Of Local 464a Welfare Fund
- Assets
- $288.7m
- Revenue
- $99.9m
- Investments
- $32.4m
- Employees
- 18
- Location
- Little Falls, NJ
- Founding
- 12/1958
- Data as of
- 12/2022
- EIN
- 22-1582446
Organization Overview
Welfare & Pension Funds Of Local 464a Welfare Fund is located in Little Falls, NJ. 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 12/2022, Welfare & Pension Funds Of Local 464a Welfare Fund employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Welfare & Pension Funds Of Local 464a Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Welfare & Pension Funds Of Local 464a Welfare Fund generated $99.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $75.4m during the year ending 12/2022. While expenses have increased by 1.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WELFARE FUND PROVIDING MEDICAL,SURGICAL,HOSPITAL,DENTAL,OPTICAL,PRESCRIPTION AND LIFE INSURANCE BENEFITS FOR COVERED MEMBERS OF UFCW LOCAL 464A-AFL-CIO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL,SURGICAL,HOSPITALIZATION,DENTAL,OPTICAL,PRESCRIPTION AND LIFE INSURANCE BENEFITS FOR COVERED MEMBERS OF UFCW LOCAL 464A-AFL-CIO. APPROXIMATELY 10,719 MEMBERS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John T Niccollai Trustee | OfficerTrustee | 1 | $0 |
Richard Whalen Trustee | OfficerTrustee | 1 | $0 |
John Niccollai III Trustee | OfficerTrustee | 1 | $0 |
Dan Dosenbach Trustee | Trustee | 1 | $0 |
Robert Spinella Trustee | Trustee | 1 | $0 |
Joann Piscitelli Alternate | Trustee | 1 | $77,725 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Maxon Administrators Inc Claims Administration | 12/30/22 | $1,713,854 |
Anthony J Boni Od And Alicia N Do Contract Fees - Vision Services | 12/30/22 | $1,074,175 |
Dental Delivery Systems Inc Contract Fees - Dental Services | 12/30/22 | $3,142,331 |
John Niccollai Medical Practice Pa Contract Fees - Medical Services | 12/30/22 | $1,410,571 |
Horizon Blue Cross Blue Shield Of Nj Claims Administration | 12/30/22 | $2,050,254 |
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 | $79,898,303 |
| Investment income | $4,591,652 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,399,110 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $99,889,065 |
| 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 | $62,707,094 |
| 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 | $1,030,892 |
| Pension plan accruals and contributions | $124,113 |
| Other employee benefits | $5,762 |
| Payroll taxes | $86,336 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $266,500 |
| Fees for services: Accounting | $61,073 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $736,925 |
| Fees for services: Other | $5,741,633 |
| Advertising and promotion | $0 |
| Office expenses | $202,011 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $110,571 |
| Travel | $15,080 |
| 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 | $22,966 |
| Insurance | $0 |
| All other expenses | $82,588 |
| Total functional expenses | $75,385,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,180,262 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,722,683 |
| 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 | $275 |
| Investments—publicly traded securities | $239,901,629 |
| Investments—other securities | $32,443,148 |
| Investments—program-related | $2,384,622 |
| Intangible assets | $211,727 |
| Other assets | $1,855,107 |
| Total assets | $288,699,453 |
| Accounts payable and accrued expenses | $517,379 |
| 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 | $22,252,325 |
| Total liabilities | $22,769,704 |
| 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 | $265,929,749 |
| Total liabilities and net assets/fund balances | $288,699,453 |