Teamsters Industrial Employees
- Assets
- $44.5m
- Revenue
- $20.1m
- Investments
- $6.0m
- Employees
- 0
- Location
- Union City, NJ
- Founding
- 03/1965
- Data as of
- 12/2022
- EIN
- 22-6058341
Organization Overview
Teamsters Industrial Employees is located in Union City, NJ. The organization was established in 1965. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Industrial Employees 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, Teamsters Industrial Employees generated $20.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $18.1m during the year ending 12/2022. While expenses have increased by 1.9% per year over the past 8 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
TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin H Stier Union Trustee | Trustee | 1 | $2,075 |
Joseph Dipalma Union Trustee | Trustee | 2 | $0 |
Charles T Connors Employer Trustee | Trustee | 1 | $0 |
Harold Welsh Union Trustee Alternate | Trustee | 1 | $0 |
Louis Rodriguez Union Trustee | Trustee | 1 | $0 |
Richard Goldberg Employer Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Horizon Blue Cross Blue Shield Health Care Provider | 12/30/22 | $474,011 |
Change Healthcare Solutions Llc Claims Repricing Agent | 12/30/22 | $259,028 |
Teja Karukonda Md Health Care Provider | 12/30/22 | $184,823 |
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 | $19,047,739 |
| Investment income | $1,005,041 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$755,526 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,075,645 |
| 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 | $16,727,998 |
| 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 | $307,381 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $59,999 |
| Fees for services: Accounting | $30,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,209 |
| Fees for services: Other | $86,627 |
| Advertising and promotion | $0 |
| Office expenses | $12,801 |
| Information technology | $19,927 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $139 |
| 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 | $3,804 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $18,093,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $864,832 |
| Savings and temporary cash investments | $765,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,757,998 |
| 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 | $12,970 |
| Net Land, buildings, and equipment | $5,234 |
| Investments—publicly traded securities | $34,210,743 |
| Investments—other securities | $6,022,694 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $902,197 |
| Total assets | $44,542,546 |
| Accounts payable and accrued expenses | $163,366 |
| 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 | $3,055,942 |
| Total liabilities | $3,219,308 |
| 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 | $41,323,238 |
| Total liabilities and net assets/fund balances | $44,542,546 |