Health & Welfare Fund Of The Plumbers & Steamfitters Local
- Assets
- $16.0m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 34
- Location
- Canfield, OH
- Founding
- 01/1966
- Data as of
- 03/2023
- EIN
- 34-6545105
Organization Overview
Health & Welfare Fund Of The Plumbers & Steamfitters Local, operating under the name Health & Welfare Fund Of The Local Union #396, is located in Canfield, OH. The organization was established in 1966. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 03/2023, Health & Welfare Fund Of The Local Union #396 employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health & Welfare Fund Of The Local Union #396 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 03/2023, Health & Welfare Fund Of The Local Union #396 generated $8.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $7.3m during the year ending 03/2023. While expenses have increased by 2.3% 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
TO PROVIDE HEALTH AND DEATH BENEFITS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERS AND THEIR DEPENDENTS WERE PROVIDED WITH ACCIDENT, HOSPITAL, MEDICAL, SURGICAL, DEATH, AND DISABILITY BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Morrone Trustee | Trustee | 1 | $0 |
Brent Kelley Trustee | Trustee | 1 | $0 |
Jeremy Smith Trustee | Trustee | 1 | $0 |
Marty Loney Trustee | Trustee | 1 | $0 |
Tim Morrison Trustee | Trustee | 1 | $228 |
Wesley Prout Trustee | Trustee | 1 | $0 |
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 | $8,027,846 |
| Investment income | $321,661 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$53,313 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,909,537 |
| 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 | $5,874,418 |
| Compensation of current officers, directors, key employees. | $624 |
| 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 | $12,929 |
| Fees for services: Management | $335,279 |
| Fees for services: Legal | $15,171 |
| Fees for services: Accounting | $8,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,711 |
| Fees for services: Other | $75,631 |
| Advertising and promotion | $0 |
| Office expenses | $17,741 |
| 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 | $843,630 |
| All other expenses | $0 |
| Total functional expenses | $7,262,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,680,468 |
| Savings and temporary cash investments | $1,079,924 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,338,246 |
| 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 | $9,558 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,846,077 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,954,273 |
| Accounts payable and accrued expenses | $564,463 |
| 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 | $2,873,977 |
| Total liabilities | $3,438,440 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12,515,833 |
| 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 | $15,954,273 |