United States Letter Carriers Mutual Benefit Association is located in Washington, DC. The organization was established in 1940. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2019, United States Letter Carriers Mutual Benefit Association employed 20 individuals. This organization is the central organization for a national or regional group of organizations.
For the year ending 12/2019, United States Letter Carriers Mutual Benefit Association generated $24.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $23.7m during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION IS A FRATERNAL ORGANIZATION THAT PROVIDES LIFE, ANNUITY, AND DISABILITY INSURANCE FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LIFE, ANNUITY, AND DISABILITY INSURANCE PRODUCTS TO MEMBERS OF THE MUTUAL BENEFIT ASSOCIATION AND THEIR DEPENDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jim Yates Director Of Life Insurance | Officer | 40 | $189,603 |
Daniel Gorelik Senior Staff | 40 | $111,211 | |
Lawrence D Brown Jr Chairman/trustee | OfficerTrustee | 1 | $0 |
Fredric V Rolando President - Nalc | Officer | 1 | $0 |
Michael Gill Trustee | Trustee | 1 | $0 |
Mack I Julion Trustee | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Regions Morgan Keegan Investment Mgt Fees | 12/30/19 | $288,511 |
Griffith Ballard Actuarial Services | 12/30/19 | $218,489 |
Mosaic Printing | 12/30/19 | $171,923 |
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 | $13,276,467 |
Investment income | $9,812,901 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,796,740 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $24,886,108 |
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 | $19,846,043 |
Compensation of current officers, directors, key employees. | $216,158 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,033,943 |
Pension plan accruals and contributions | $344,029 |
Other employee benefits | $228,030 |
Payroll taxes | $96,422 |
Fees for services: Management | $0 |
Fees for services: Legal | $114,685 |
Fees for services: Accounting | $76,800 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $288,748 |
Fees for services: Other | $409,627 |
Advertising and promotion | $0 |
Office expenses | $535,807 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $343,589 |
Travel | $406 |
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 | $106,538 |
Insurance | $13,613 |
All other expenses | $0 |
Total functional expenses | $23,739,425 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $175,883 |
Savings and temporary cash investments | $1,164,265 |
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 | $2,692,031 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $110,162 |
Investments—publicly traded securities | $251,286,439 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $4,728,600 |
Total assets | $260,157,380 |
Accounts payable and accrued expenses | $216,501 |
Grants payable | $0 |
Deferred revenue | $176,139 |
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 | $215,512,443 |
Total liabilities | $215,905,083 |
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 | $44,252,297 |
Total liabilities and net assets/fund balances | $260,157,380 |
Organization Name | Assets | Revenue |
---|---|---|
American Postal Workers Union Washington, DC | $93,945,956 | $62,258,549 |
International Union Of Painters And Allied Trades Hanover, MD | $88,267,194 | $45,097,897 |
Road Sprinkler Fitters Local 669 Ua Columbia, MD | $71,818,824 | $50,974,052 |
International Union Of Bricklayers And Allied Craftworkers Washington, DC | $182,654,967 | $50,126,481 |
National Association Of Social Workers Inc Washington, DC | $80,717,027 | $34,466,684 |
National Rural Letter Carriers Association Alexandria, VA | $21,591,861 | $40,441,109 |
American Center For International Labor Solidarity Washington, DC | $14,303,590 | $37,259,137 |
Transportation-Communications Union Rockville, MD | $48,733,558 | $38,257,295 |
United Mine Workers Of America- International Triangle, VA | $171,037,373 | $21,483,301 |
Amalgamated Transit Union Silver Spring, MD | $181,308,848 | $38,955,172 |
National Treasury Employees Union Washington, DC | $41,465,980 | $32,384,802 |
Ironworker Management Progressive Action Cooperative Trust Washington, DC | $28,804,750 | $28,052,256 |