Ibew Local 102 Welfare Fund

Organization Overview

Ibew Local 102 Welfare Fund is located in Parsippany, NJ. The organization was established in 1993. 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. Ibew Local 102 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 12/2021, Ibew Local 102 Welfare Fund generated $58.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $65.1m during the year ending 12/2021. While expenses have increased by 6.2% 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

2021

Describe the Organization's Mission:

Part 3 - Line 1

WELFARE FUND - HEALTH/MEDICAL BENEFITS

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDING HEALTH & MEDICAL BENEFITS TO THE PARTICIPANTS


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
James Estabrook
Trustee
$0
Bernie Corrigan
Trustee
$0
David Fiore
Trustee
$0
Louis Vito
Trustee
$0
Mark Roche
Trustee
$0
Robert Williamson III
Trustee
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Horizon Bc Bs
Contract Administrator
$1,049,384
Global Pharmaceutical Benefits Llc
Contract Administrator
$479,437
Fabian & Byrn Llc
Claims Processing
$582,058
Ie Shaffer Co
Third Party Administrator
$433,000
Zelis Healthcareinc
Claims Review
$484,474
View All Vendors

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$53,853,606
Investment income $2,518,108
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $4,865,321
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $58,803,578

Create an account to unlock the data you need.

or