Iatse National Health & Welfare Fund
- Assets
- $951.3m
- Revenue
- $309.5m
- Investments
- $695.4m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1973
- Data as of
- 12/2023
- EIN
- 23-7333434
Organization Overview
Iatse National Health & Welfare Fund is located in New York, NY. The organization was established in 1973. 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. Iatse National 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 12/2023, Iatse National Health & Welfare Fund generated $309.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $370.4m during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 9 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
TO PROVIDE MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew D Loeb Trustee | Trustee | 1 | $0 |
Christopher Brockmeyer Trustee | Trustee | 1 | $0 |
Brian J Lawlor Trustee | Trustee | 1 | $0 |
James B Wood Trustee | Trustee | 1 | $0 |
Daniel E Ditolla Trustee | Trustee | 1 | $0 |
Patricia White Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empire Blue Cross Blue Shield Claims Processing | 12/30/23 | $13,420,930 |
Delta Dental Of New York Claims Processing | 12/30/23 | $703,063 |
The Segal Company Actuarial Consulting | 12/30/23 | $279,951 |
Proskauer Rose Llp Legal Services | 12/30/23 | $254,706 |
Spivak Lipton Legal Services | 12/30/23 | $236,658 |
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 | $293,759,927 |
| Investment income | $6,996,767 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,132,144 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $309,452,042 |
| 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 | $355,570,387 |
| 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 | $0 |
| Fees for services: Legal | $498,146 |
| Fees for services: Accounting | $113,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $262,529 |
| Fees for services: Other | $282,918 |
| Advertising and promotion | $0 |
| Office expenses | $327,880 |
| Information technology | $19,855 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $259,683 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $370,439,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,509,483 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,225,738 |
| 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 | $0 |
| Net Land, buildings, and equipment | $5,025,203 |
| Investments—publicly traded securities | $196,194,148 |
| Investments—other securities | $695,354,886 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $951,309,458 |
| Accounts payable and accrued expenses | $394,904 |
| Grants payable | $0 |
| Deferred revenue | $3,190,000 |
| 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 | $41,872,661 |
| Total liabilities | $45,457,565 |
| 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 | $905,851,893 |
| Total liabilities and net assets/fund balances | $951,309,458 |