New York Independent Livery Driver Benefit Fund
- Assets
- $2.3m
- Revenue
- $15.8k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/2015
- Data as of
- 12/2021
- EIN
- 26-3373401
Organization Overview
New York Independent Livery Driver Benefit Fund is located in New York, NY. The organization was established in 2015. According to its NTEE Classification (Y25) the organization is classified as: State-Sponsored Workers Compensation Reinsurance Organizations, 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. New York Independent Livery Driver Benefit Fund is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, New York Independent Livery Driver Benefit Fund generated $15.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (57.2%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. 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
NEW YORK STATE LEGISLATIVELY CREATED & SPONSORED WORKERS' COMPENSATION INSURANCE BENEFITS FUND
Describe the Organization's Program Activity:
Part 3 - Line 4a
1. SUCCESSFULLY CONTINUED TO OPERATE UNDER THE PLAN OF OPERATION FOR WHICH THE BOARD OF DIRECTORS EXERCISED ITS STATUTORY POWERS IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE 6-G OF TEH EXECUTIVE LAW OF THE STATE OF NEW YORK;2. SUCCESSFULLY MAINTAINED AN ESTABLISHED FORMULA FOR ASSESSING MEMBER ORGANIZATIONS IN ACCORDANCE WITH ARTICLE 6-G, SECTION 160-CCC;3. SUCCESSFULLY CONTINUED TO COLLECT MONIES FROM MEMBER ORGANIZATIONS AND USED SUCH FUNDS, IN ACCORDANCE WITH SECTION 160-DDD, BY RENEWING A POLICY OF INSURANCE WHICH IS TO PROVIDE WORKERS' COMPENSATION BENEFITS TO LIVERY DRIVERS WHO QUALIFY FOR SUCH UNDER THE TERMS OF THE LAW;4. SUCCESSFULLY CONTINUED TO OPERATE IN ACCORDANCE WITH SECTION 160-GGG, BY ENSURING THE FAIR, REASONABLE AND EQUITABLE ADMINISTRATION OF THE FUNDS OF TEH NOT-FOR-PROFIT CORPORATION;5. SUCCESSFULLY INITIATED AN OUTREACH PROGRAM TO BETTER EDUCATE MEMBER ORGANIZATIONS ON THE REASON FOR COMPLIANCE WITH THE LAW;6. SUCCESSFULLY CONTRIBUTED TO THE MAINTENANCE OF HIGH LEVELS OF COMPLIANCE OF MEMBER ORGANIZATIONS;7. SUCCESSFULLY ENABLED THE NEW YORK STATE UNINSURED EMPLOYERS FUND TO SIGNIFICANTLY DECREASE THE MONIES IT PAID TO PREVIOUSLY UNINSURED CLAIMANTS;8. SUCCESSFULLY CONTINUED TO ENABLE LIVERY DRIVERS TO OPBTAIN BENEFITS THEY ARE ENTITLED TO IN A QUICKER AND MORE EFFICIENT MANNER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Avik Kabessa Chairman | OfficerTrustee | 4 | $1,000 |
Alan Plafker Treasurer | OfficerTrustee | 4 | $1,000 |
Aracely Medranda-Kuszel Board Member | Trustee | 4 | $1,000 |
Monte Almer Board Member | Trustee | 4 | $1,000 |
James Conigliaro Sr Vice Chairman | OfficerTrustee | 4 | $400 |
Other Board Member | Trustee | 4 | $400 |
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 | $0 |
| Investment income | $13,143 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,689 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,832 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $4,800 |
| 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 | $48,000 |
| Fees for services: Accounting | $23,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,465 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,382 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $22,766 |
| All other expenses | $11,762 |
| Total functional expenses | $2,529,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $848,711 |
| Savings and temporary cash investments | $1,408,250 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $18,381 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,462 |
| Total assets | $2,287,804 |
| Accounts payable and accrued expenses | $1,023,468 |
| 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 | $0 |
| Total liabilities | $1,023,468 |
| Net assets without donor restrictions | -$515,664 |
| Net assets with donor restrictions | $1,780,000 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,287,804 |