Mid-Jersey Trucking Industry Local 701 Welfare Fund Plan A & B

Organization Overview

Mid-Jersey Trucking Industry Local 701 Welfare Fund Plan A & B is located in North Brunswick, 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 05/2022, Mid-Jersey Trucking Industry Local 701 Welfare Fund Plan A & B employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-Jersey Trucking Industry Local 701 Welfare Fund Plan A & B is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 05/2022, Mid-Jersey Trucking Industry Local 701 Welfare Fund Plan A & B generated $7.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $8.2m during the year ending 05/2022. While expenses have increased by 7.0% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE HEALTH AND WELFARE BENEFITS FOR PARTICIPANTS

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED HEALTH AND WELFARE BENEFITS TO PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS


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Board, Officers & Key Employees

Name (title)Compensation
Giancarlo Prezioso
Fund Manager
$67,144
Anthony Sidoti
Trustee
$11,442
Ernest Soehl
Trustee
$5,000
Lamar Beinhower
Trustee
$5,000
Rocco Morongello
Trustee
$2,317
Ronald Lake
Trustee
$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$7,379,185
Investment income $394,988
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$12,984
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,768,982

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