Health Reimbursement Account Fund Of The Electrical Industry

Organization Overview

Health Reimbursement Account Fund Of The Electrical Industry is located in Flushing, NY. The organization was established in 2005. 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. Health Reimbursement Account Fund Of The Electrical Industry 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, Health Reimbursement Account Fund Of The Electrical Industry generated $43.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $47.1m during the year ending 12/2021. While expenses have increased by 9.0% 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

THE PLAN COLLECTS AND INVESTS FUNDS RECEIVED FROM ELECTRICAL CONTRACTORS FOR THE PURPOSE OF PROVIDING BENEFITS TO MEMBERS OF LOCAL 3. THE PLAN ADOPTED AMENDMENTS TO ITS PLAN PROVISIONS IN COMPLIANCE WITH THE AFFORDABLE CARE ACT EFFECTIVE JANUARY 1, 2014.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE BENEFITS TO MEMBERS OF LOCAL 3


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Board, Officers & Key Employees

Name (title)Compensation
Thomas Cleary
Trustee
$0
Steven Lazzaro
Trustee
$0
Kristine Denapoli
Trustee
$0
Craig Gilston
Trustee
$0
William Hofving
Trustee
$0
Joseph Proscia
Trustee
$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$39,529,259
Investment income $3,428,510
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $42,957,769

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