Health & Welfare Fund Local 456 Ib
- Assets
- $66.8m
- Revenue
- $21.5m
- Investments
- $0.0
- Employees
- 76
- Location
- West Trenton, NJ
- Founding
- 05/1982
- Data as of
- 12/2022
- EIN
- 22-2317253
Organization Overview
Health & Welfare Fund Local 456 Ib is located in West Trenton, NJ. The organization was established in 1982. 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, Health & Welfare Fund Local 456 Ib employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health & Welfare Fund Local 456 Ib is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 12/2022, Health & Welfare Fund Local 456 Ib generated $21.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $27.7m during the year ending 12/2022. 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
PROVIDE GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry C Alexander Trustee | Trustee | 1 | $0 |
Terrance Craig Trustee | Trustee | 1 | $0 |
Jeffery Shaute Trustee | Trustee | 1 | $0 |
Francis T Leake Trustee | Trustee | 1 | $0 |
Michael G Mclaughlin Trustee | Trustee | 1 | $0 |
Dennis F Cronin Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ie Shaffer & Co Third Party Administrator | 12/30/22 | $429,643 |
Aetna Life Insurance Co Administrative Fees | 12/30/22 | $333,811 |
Envision Administrative Fees | 12/30/22 | $119,381 |
Vanguard Institutional Investor Services Investment Advisory | 12/30/22 | $108,460 |
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 | $18,886,317 |
| Investment income | $1,483,003 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,115,283 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,485,919 |
| 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 | $26,898,056 |
| 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 | $429,643 |
| Fees for services: Legal | $55,740 |
| Fees for services: Accounting | $33,576 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $173,713 |
| Fees for services: Other | $31,047 |
| Advertising and promotion | $0 |
| Office expenses | $11,072 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,081 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,860 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,670 |
| All other expenses | $6,797 |
| Total functional expenses | $27,668,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $657,354 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,244,338 |
| 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 | $8,443 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $63,918,749 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $66,828,884 |
| Accounts payable and accrued expenses | $1,022,724 |
| 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 | $2,584,100 |
| Total liabilities | $3,606,824 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $63,222,060 |
| 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 | $66,828,884 |