International Longshoremens Association Welfare Fund
- Assets
- $2.4m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 14
- Location
- Jacksonville, FL
- Founding
- 02/1988
- Data as of
- 09/2021
- EIN
- 59-0834277
Organization Overview
International Longshoremens Association Welfare Fund is located in Jacksonville, FL. The organization was established in 1988. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 09/2021, International Longshoremens Association Welfare Fund employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Longshoremens Association 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 09/2021, International Longshoremens Association Welfare Fund generated $6.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $6.5m during the year ending 09/2021. While expenses have increased by 1.9% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erwin L Lax Administrator | Officer | 20 | $140,695 |
Chase D Solomon Labor Trustee | Trustee | 1 | $2,800 |
Mark Ortega Alt Labor Trustee | Trustee | 1 | $2,520 |
Lorenzo Spencer Alt Labor Trustee | Trustee | 1 | $1,400 |
Charles Spencer Labor Trustee | Trustee | 1 | $0 |
George Spencer Labor Trustee, Co-Chair | 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 | $6,717,126 |
| Investment income | $2,833 |
| 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 | $6,795,682 |
| 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 | $5,738,150 |
| Compensation of current officers, directors, key employees. | $171,980 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $533,347 |
| Pension plan accruals and contributions | $18,213 |
| Other employee benefits | $149,241 |
| Payroll taxes | $53,189 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,907 |
| Fees for services: Accounting | $50,567 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,500 |
| Advertising and promotion | $0 |
| Office expenses | $62,556 |
| Information technology | $77,126 |
| Royalties | $0 |
| Occupancy | $30,591 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,791 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,934 |
| Insurance | $10,199 |
| All other expenses | $0 |
| Total functional expenses | $6,463,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,326,822 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $901,308 |
| 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 | $57,408 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $82,718 |
| Total assets | $2,368,256 |
| Accounts payable and accrued expenses | $69,422 |
| 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 | $953,919 |
| Total liabilities | $1,023,341 |
| 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 | $1,344,915 |
| Total liabilities and net assets/fund balances | $2,368,256 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern States Police Benevolent Association Inc Mcdonough, GA | $14,043,615 | $16,142,933 |
International Longshoremens Assn S Fl Ila Container Royalty Fund Miami, FL | $14,989,550 | $15,311,387 |
Seafarers International Union Of North American Dania Beach, FL | $23,905,405 | $12,764,369 |
Alabama Farmers Federation Inc Montgomery, AL | $51,185,897 | $13,567,426 |
Florida Police Benevolent Association Inc Tallahassee, FL | $14,595,593 | $11,620,647 |
United Teachers Of Dade Miami Springs, FL | $14,323,353 | $11,858,827 |
International Brotherhood Of Teamsters Atlanta, GA | $23,489,965 | $15,555,730 |
United Food And Commercial Workers International Union Suwanee, GA | $6,071,667 | $10,158,607 |
American Federation Of Teachers Tamarac, FL | $9,473,418 | $9,327,723 |
Georgia Poultry Improvement Association Incorporated Gainesville, GA | $416,382 | $8,139,653 |
Southeastern Carpenters Regional Council Augusta, GA | $21,290,027 | $10,060,840 |
International Longshoremens Association Savannah, GA | $24,720,691 | $10,565,303 |