Local Union 808 I B T Health And Welfare Fund
- Assets
- $12.8m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 4
- Location
- Long Island City, NY
- Founding
- 12/1972
- Data as of
- 09/2023
- EIN
- 23-7218454
Organization Overview
Local Union 808 I B T Health And Welfare Fund is located in Long Island City, NY. The organization was established in 1972. 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 09/2023, Local Union 808 I B T Health And Welfare Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local Union 808 I B T Health And 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 09/2023, Local Union 808 I B T Health And Welfare Fund generated $12.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $12.3m during the year ending 09/2023. While expenses have increased by 5.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE TRUST RECEIVES CONTRIBUTIONS PURSUANT TO A COLLECTIVE BARGAINING AGREEMENT AND HOLDS THE ASSETS OF A MULTIEMPLOYER WELFARE BENEFIT PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A MULTIEMPLOYER WELFARE BENEFIT PLAN THAT PROVIDES MEDICAL, DENTAL, OPTICAL, AND OTHER WELFARE BENEFITS TO PLAN PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS AND BENEFICIARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fitz-Verity C Silvera Union Trustee | OfficerTrustee | 1 | $0 |
Paul Demasi Employer Trustee | OfficerTrustee | 1 | $4,125 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Bcbs Administrator Fees | 9/29/23 | $497,109 |
Cohen Weiss Simon Llp Legal Services | 9/29/23 | $210,446 |
Innovative Software Solutions It Consultant | 9/29/23 | $108,765 |
Savasta And Company Inc Actuary/contract Adm | 9/29/23 | $106,680 |
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 | $12,447,115 |
| Investment income | $270,746 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $109,550 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,828,700 |
| 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 | $10,972,523 |
| Compensation of current officers, directors, key employees. | $4,125 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $137,730 |
| Pension plan accruals and contributions | $8,183 |
| Other employee benefits | $39,804 |
| Payroll taxes | $13,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $210,446 |
| Fees for services: Accounting | $69,649 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $623,395 |
| Advertising and promotion | $0 |
| Office expenses | $47,543 |
| Information technology | $134,773 |
| Royalties | $0 |
| Occupancy | $43,299 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,505 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $92 |
| Insurance | $6,281 |
| All other expenses | $0 |
| Total functional expenses | $12,313,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $752,448 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $853,430 |
| 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 | $15,898 |
| Net Land, buildings, and equipment | $1,218 |
| Investments—publicly traded securities | $10,429,685 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $712,529 |
| Total assets | $12,765,208 |
| Accounts payable and accrued expenses | $4,782 |
| 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 | $133,751 |
| Total liabilities | $138,533 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12,626,675 |
| 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 | $12,765,208 |