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Wccob Welfare Trust Fund

Not tax-deductible

White Plains, NYMutual-benefit / member-servingMutual / membership EIN 13-3594943Revenue $4.6M in FY2024

On file with the IRSwestchestercoba.com15 Reservoir Rd, 10603-2516 · White Plains, NYTax-exempt since Oct 1988

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The Trust Fund was formed to provide, to eligible employees of the westchester county correction officers' benevolent association, such group benefits which are deemed legal, desirable, affordable and contractually permitted.

94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $1.3M a year · 33% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Plus $10.9M in investments, Pt X · Ln 11–13
Looks good: 10.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$8K
0.06% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.6M
+9% vs prior year
Spent
$2.7M
To programs
94%
Net assets
$14.1M
By yearFY2020–FY2024
Revenue
$4.6M
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.0M
FY2021$4.0M
FY2022$2.3M
FY2023$4.2M
FY2024$4.6M
Expenses
$2.7M
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$2.5M
FY2022$2.5M
FY2023$2.6M
FY2024$2.7M
Net assets
$14.1M
FY2024▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2020$9.3M
FY2021$10.8M
FY2022$10.6M
FY2023$12.2M
FY2024$14.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1988.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $2.5M Management & general 6% · $175K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Monica Lee
Trustee
$0Pt VII · Sec A
David Summa
Trustee/Dire
$0Pt VII · Sec A
Darryl Taylor
Trustee/Dire
$0Pt VII · Sec A
Alonzo West
Trustee/Dire
$0Pt VII · Sec A
Neil Pellone
Vice-Chairma
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wccob Welfare Trust 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides group benefits to eligible correction officers and their families.

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Provided by the organization

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1 program · $2.5M · in their own filed words · FY2024
01

Dental, optical, disability, life insurance and benefits paid to members.

$2.5Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4.6M
Ln 12
Gifts and grantsLn 1h$3.4M
Investment incomeLn 3$1.2M
Fees for servicesLn 2g$42K
Money outPt IX
$2.7M
Ln 25
Programscol B$2.5M
Managementcol C$175K
Owns and owesPt X
$14.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$14.1M
LiabilitiesLn 26$8K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.4M
Government grantsLn 1e$3.4M
Fees for servicesLn 2g$42K
Investment incomeLn 3$1.2M
Gains on assetsLn 7$616K
Total revenueLn 12$4.6M
Assets in detailPt X, end of year
SavingsLn 2$2.3M
Cash and savings togetherLn 1–2$2.3M
InvestmentsLn 11–13$10.9M
Land, buildings, equipmentLn 10c$974K
Total assetsLn 16$14.1M
LiabilitiesLn 26$8K
Net assetsLn 32$14.1M
OperationsPt I, VI
EmployeesI 50
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 FY24End FY24
Cash and savingsLn 1–2$2.0M$2.3M
InvestmentsLn 11–13$9.2M$10.9M
Land, buildings, equipmentLn 10c$1.0M$974K
Total assetsLn 16$12.2M$14.1M
LiabilitiesLn 26$8K$8K
Net assetsLn 32$12.2M$14.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$2.5M$2.5M
Legal feesLn 11b$37K$37K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$97K$97K
Office expensesLn 13$33K$33K
OccupancyLn 16$27K$27K
Depreciation, depletion and amortizationLn 22$34K$34K
Other expenses (24a–d)Ln 24$9K$9K
Total functional expensesLn 25$2.7M$2.5M$175K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $4.6M$2.7M$1.9M$14.1M 990 PDF
FY2023 $4.2M$2.6M$1.6M$12.2M 990 PDF
FY2022 $2.3M$2.5M−$209K$10.6M 990 PDF
FY2021 $4.0M$2.5M$1.5M$10.8M 990 PDF
FY2020 $4.0M$2.5M$1.6M$9.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $4,578,376 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,336,240$3,359,107
I-9 Program service revenuePrior year $42,000$42,000
I-10 Investment incomePrior year $836,565$1,177,269
I-11 Other revenue$0
I-12 Total revenuePrior year $4,214,805$4,578,376
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $2,401,800$2,455,693
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $225,223$245,131
I-18 Total expensesPrior year $2,627,023$2,700,824
I-19 Revenue less expensesPrior year $1,587,782$1,877,552
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,578,376 across 6 lines filed
VIII-1e Government grants$3,359,107
VIII-1h Total contributions, gifts and grants$3,359,107
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $42,000$42,000
VIII-3 Investment incomeRelated to mission $560,934$560,934
VIII-7 Net gain or loss on sales of assetsRelated to mission $616,335$616,335
VIII-12 Total revenueRelated to mission $1,177,269 · Excluded from tax $42,000$4,578,376
Part IX · Statement of functional expenses $2,700,824 across 8 lines filed
IX-4 Benefits paid to or for membersPrograms $2,455,693$2,455,693
IX-11b Legal feesManagement $37,000$37,000
IX-11c Accounting feesManagement $8,030$8,030
IX-11g Other fees for servicesManagement $97,277$97,277
IX-13 Office expensesManagement $33,042$33,042
IX-16 OccupancyPrograms $27,222$27,222
IX-22 Depreciation, depletion and amortizationPrograms $33,837$33,837
IX-24 Other expenses (24a–d)Programs $8,723$8,723
IX-25 Total functional expensesPrograms $2,525,475 · Management $175,349 · Fundraising $0$2,700,824
Part X · Balance sheet $14,112,965 assets, 9 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,981,190$2,268,606
X-10c Land, buildings and equipment, netStart of year $1,007,759$973,922
X-11 Publicly traded securitiesStart of year $9,246,464$10,870,437
X-16 Total assetsStart of year $12,235,413$14,112,965
X-17 Accounts payable and accrued expensesStart of year $7,979$7,979
X-26 Total liabilitiesStart of year $7,979$7,979
X-27 Net assets without donor restrictionsStart of year $12,227,434$14,104,986
X-32 Total net assets or fund balancesStart of year $12,227,434$14,104,986
X-33 Total liabilities and net assetsStart of year $12,235,413$14,112,965
Part XI · Reconciliation of net assets $14,104,986 net assets at year end
XI-1 Total revenue$4,578,376
XI-2 Total expenses$2,700,824
XI-3 Revenue less expenses$1,877,552
XI-4 Net assets at start of year$12,227,434
XI-10 Net assets at end of year$14,104,986

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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