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Licensed Practical Nurses Welfare Fund FY2021 filing

Not tax-deductible

New York, NYMutual-benefit / member-servingEIN 13-2623987

To provide health and other benefits to eligible participants.

$1K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $117K a year · 11% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$1K
to officers and key staff · 0.1% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$28K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 7 voting members
Looks good: 4 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
-7% vs prior year
Spent
$1.3M
Net assets
$7.2M
By yearFY2020–FY2024
Revenue
$1.2M
FY2021▼ -7%
Revenue by fiscal year
FY2020$1.3M
FY2021$1.2M
FY2022$979K
FY2023$810K
FY2024$1.0M
Expenses
$1.3M
FY2021▲ +5%
Expenses by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$1.1M
FY2023$1.3M
FY2024$956K
Net assets
$7.2M
FY2021▼ -4%
Net assets by fiscal year
FY2020$7.5M
FY2021$7.2M
FY2022$6.2M
FY2023$5.8M
FY2024$5.7M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1971.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

17 people listed on the 990; $1K paid to officers and key staff.

Part VII, Section A · reportable compensation
Lorraine Monchak
Chief Investment Officer
$481Pt VII · Sec A
Mitra Behroozi
Executive Director
$294Pt VII · Sec A
Jeffrey Stein
Fund Counsel
$260Pt VII · Sec A
Van H Dunn
Chief Medical Officer
$205Pt VII · Sec A
Stacey Millman
Chief Communications Offic
$189Pt VII · Sec A
Joyce Neil
Union Trustee
$0Pt VII · Sec A
Maria Castaneda
Union Trustee
$0Pt VII · Sec A
Donna Rey
Executive Officer
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2021FY2020
Lorraine Monchak$481$373
Mitra Behroozi$294$291
Jeffrey Stein$260$209
Van H Dunn$205$210
Stacey Millman$189$179

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Licensed Practical Nurses Welfare Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers health and other benefits to eligible individuals.

Provided by the organization

This section is blank until Licensed Practical Nurses Welfare Fund claims this page.

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1 program service, described in the organization's own filed words · FY2021.
01

Provided health and other benefits to approx. 500 eligible participants

Pt IX · col B

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By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$125K
Money outPt IX
$1.3M
Ln 25
Owns and owesPt X
$7.2M
net assets · Ln 32
Cash and savingsLn 1–2$598K
Total assetsLn 16$7.2M
LiabilitiesLn 26$28K
PeoplePt VI, VII
17
listed · VII A
PaidVII A5
Voting boardVI 1a7
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$125K
Gains on assetsLn 7$13K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$257K
SavingsLn 2$341K
Cash and savings togetherLn 1–2$598K
InvestmentsLn 11–13$6.0M
Other assetsLn 15$10K
Total assetsLn 16$7.2M
LiabilitiesLn 26$28K
Net assetsLn 32$7.2M
OperationsPt I, VI
EmployeesI 522
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$833K$598K
InvestmentsLn 11–13$6.1M$6.0M
Total assetsLn 16$7.5M$7.2M
LiabilitiesLn 26$42K$28K
Net assetsLn 32$7.5M$7.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$1.1M
Legal feesLn 11b$15K
Accounting feesLn 11c$15K
Other fees for servicesLn 11g$69K
Office expensesLn 13$2K
Other expenses (24a–d)Ln 24$56K
Total functional expensesLn 25$1.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.0M$956K$62K$5.7M 990 PDF
FY2023 $810K$1.3M−$489K$5.8M 990 PDF
FY2022 $979K$1.1M−$90K$6.2M 990 PDF
FY2021 Viewing $1.2M$1.3M−$109K$7.2M 990 PDF
FY2020 $1.3M$1.2M$41K$7.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $1,178,368 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,053,078$1,053,078
VIII-3 Investment incomeExcluded from tax $112,529$112,529
VIII-7 Net gain or loss on sales of assetsExcluded from tax $12,761$12,761
VIII-12 Total revenueRelated to mission $1,053,078 · Unrelated business $0 · Excluded from tax $125,290$1,178,368
Part IX · Statement of functional expenses $1,287,448 across 6 lines filed
IX-4 Benefits paid to or for members$1,130,492
IX-11b Legal fees$15,000
IX-11c Accounting fees$14,803
IX-11g Other fees for services$69,264
IX-13 Office expenses$1,968
IX-24 Other expenses (24a–d)$55,921
IX-25 Total functional expenses$1,287,448
Part X · Balance sheet $7,193,661 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $292,117$256,927
X-2 Savings and temporary cash investmentsStart of year $540,997$341,074
X-4 Accounts receivableStart of year $598,537$601,016
X-9 Prepaid expenses and deferred chargesStart of year $27,491$23,404
X-11 Publicly traded securitiesStart of year $6,061,841$5,961,687
X-15 Other assetsStart of year $20,566$9,553
X-16 Total assetsStart of year $7,541,549$7,193,661
X-17 Accounts payable and accrued expensesStart of year $41,355$28,064
X-25 Other liabilitiesStart of year $492$342
X-26 Total liabilitiesStart of year $41,847$28,406
X-32 Total net assets or fund balancesStart of year $7,499,702$7,165,255
X-33 Total liabilities and net assetsStart of year $7,541,549$7,193,661
Part XI · Reconciliation of net assets $7,165,255 net assets at year end
XI-1 Total revenue$1,178,368
XI-2 Total expenses$1,287,448
XI-3 Revenue less expenses−$109,080
XI-4 Net assets at start of year$7,499,702
XI-5 Net unrealized gains (losses) on investments−$225,367
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,165,255

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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