United States Letter Carriers Mutual Benefit Association
- Assets
- $260.2m
- Revenue
- $24.9m
- Investments
- $0.0
- Employees
- 20
- Location
- Washington, DC
- Founding
- 05/1940
- Data as of
- 12/2019
- EIN
- 62-0476257
Organization Overview
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.
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Board, Officers & Key Employees
| 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 |
Outside Vendors & Contractors
| 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 |
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 | $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 |
Peer Organizations
| 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 |