Massachusetts Public Employees Health & Welfare Fund
- Assets
- $76.8m
- Revenue
- $30.1m
- Investments
- $0.0
- Employees
- 22
- Location
- Peabody, MA
- Founding
- 11/1985
- Data as of
- 06/2021
- EIN
- 22-2618894
Organization Overview
Massachusetts Public Employees Health & Welfare Fund is located in Peabody, MA. The organization was established in 1985. As of 06/2021, Massachusetts Public Employees Health & Welfare Fund employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Public Employees Health & 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 06/2021, Massachusetts Public Employees Health & Welfare Fund generated $30.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $26.5m during the year ending 06/2021. While expenses have increased by 0.8% per year over the past 6 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
TO PROVIDE & ADMINISTER BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AND ADMINISTER THE PLANS OF DENTAL AND VISION BENEFITS FOR AN ESTIMATED 34,500 MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian B Novy Chief Dental Officer | Officer | 40 | $221,171 |
Susan Fournier Executive Director/fund Ad | Officer | 40 | $141,068 |
Karen Martin Director Of Information Sy | 40 | $108,620 | |
Cheri Antelo Trustee | Trustee | 2 | $0 |
Matthew Kane Trustee | Trustee | 2 | $0 |
Matthew Hale Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anchor Capital Advisors Llc Investment Management | 6/29/21 | $187,522 |
Delta Dental Dental Administration | 6/29/21 | $1,056,992 |
Davis Vision Vision Administration | 6/29/21 | $105,057 |
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 | $27,536,132 |
| Investment income | $1,267,155 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,270,446 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,073,973 |
| 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 | $23,433,836 |
| Compensation of current officers, directors, key employees. | $142,768 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,114,725 |
| Pension plan accruals and contributions | $72,388 |
| Other employee benefits | $124,990 |
| Payroll taxes | $66,533 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,000 |
| Fees for services: Accounting | $40,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $211,797 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $280,036 |
| Information technology | $60,677 |
| Royalties | $0 |
| Occupancy | $282,298 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,367 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $309,846 |
| Insurance | $42,798 |
| All other expenses | $61,848 |
| Total functional expenses | $26,456,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $427,737 |
| Savings and temporary cash investments | $8,882,851 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,766,724 |
| 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 | $77,872 |
| Net Land, buildings, and equipment | $1,455,515 |
| Investments—publicly traded securities | $61,024,262 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $179,951 |
| Total assets | $76,814,912 |
| Accounts payable and accrued expenses | $529,139 |
| 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 | $4,525,790 |
| Total liabilities | $5,054,929 |
| 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 | $71,759,983 |
| Total liabilities and net assets/fund balances | $76,814,912 |
Endowment Analysis
| Beg. Balance | $46,851,667 |
| Earnings | $8,366,756 |
| Admin Expense | $9,414 |
| Net Contributions | $744,038 |
| Ending Balance | $55,953,047 |