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Local 8a-28a Welfare Fund

Not tax-deductible

Astoria, NYMutual-benefit / member-servingSince 1948EIN 13-5624028Revenue $7.6M in FY2024

On file with the IRS36-16/18 33rd Street, 11106-0000 · Astoria, NYTax-exempt since Dec 1961

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The plan provides hospital, surgical, major medical, prescription drug, dental, death, optical, life insurance, accidental death and dismemberment, disability and membership assistance benefits for approximately 1,421 members and their dependents in accordance with the provisions of the rules and regulations of the plan.

Mission: Form 990 Part I, line 1

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 $1.7M a year · 22% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.0M
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 4 voting members
Worth a look: 1 of 4 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.6M
+1% vs prior year
Spent
$7.2M
Net assets
$8.8M
By yearFY2020–FY2024
Revenue
$7.6M
FY2024▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.7M
FY2021$11.7M
FY2022$7.1M
FY2023$7.5M
FY2024$7.6M
Expenses
$7.2M
FY2024▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.7M
FY2021$5.3M
FY2022$5.8M
FY2023$6.9M
FY2024$7.2M
Net assets
$8.8M
FY2024▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.5M
FY2021$9.9M
FY2022$9.2M
FY2023$8.4M
FY2024$8.8M

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

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1961.

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Joseph Azzopardi
Union Trustee
$0Pt VII · Sec A
John Drew
Union Trustee
$0Pt VII · Sec A
Albert Blair
Union Trustee
$0Pt VII · Sec A
Lina Gottesman
Employer Trustee
$0Pt VII · Sec A
Joseph Panetta
Employer Trustee (p)
$0Pt VII · Sec A
James Skellenger
Employer Trustee (p)
$0Pt VII · Sec A
See Local 8a-28a 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers comprehensive health, dental, vision, and life insurance benefits to members and their families.

Questions for Local 8a-28a Welfare Fund

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Provides hospital, surgical, major medical, prescription drug, dental, death, optical, life insurance, accidental death and dismemberment, disability and membership assistance benefits for members and their dependents.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$7.6M
Ln 12
Fees for servicesLn 2g$7.3M
Investment incomeLn 3$219K
Other incomeLn 4–11$89K
Money outPt IX
$7.2M
Ln 25
Owns and owesPt X
$8.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.9M
Total assetsLn 16$9.9M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$7.3M
Investment incomeLn 3$219K
Other incomeLn 4–11$89K
Total revenueLn 12$7.6M
Assets in detailPt X, end of year
CashLn 1$640K
SavingsLn 2$2.3M
Cash and savings togetherLn 1–2$2.9M
InvestmentsLn 11–13$4.5M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$41K
Total assetsLn 16$9.9M
LiabilitiesLn 26$1.0M
Net assetsLn 32$8.8M
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.2M$2.9M
InvestmentsLn 11–13$4.3M$4.5M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$9.4M$9.9M
LiabilitiesLn 26$998K$1.0M
Net assetsLn 32$8.4M$8.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$6.2M
Other salaries and wagesLn 7$195K
Pension plan contributionsLn 8$100K
Payroll taxesLn 10$16K
Legal feesLn 11b$108K
Accounting feesLn 11c$87K
Other fees for servicesLn 11g$297K
Office expensesLn 13$42K
Information technologyLn 14$22K
TravelLn 17$2K
Conferences, conventions and meetingsLn 19$9K
InterestLn 20$41K
Depreciation, depletion and amortizationLn 22$37K
InsuranceLn 23$28K
Other expenses (24a–d)Ln 24$3K
Total functional expensesLn 25$7.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $7.6M$7.2M$378K$8.8M 990 PDF
FY2023 $7.5M$6.9M$534K$8.4M 990 PDF
FY2022 $7.1M$5.8M$1.3M$9.2M 990 PDF
FY2021 $11.7M$5.3M$6.3M$9.9M 990 PDF
FY2020 $5.7M$5.7M−$64K$3.5M 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 FY2024 990 (6 parts)
Part I · Summary $7,563,089 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $7,184,327$7,255,161
I-10 Investment incomePrior year $174,065$218,814
I-11 Other revenuePrior year $115,259$89,114
I-12 Total revenuePrior year $7,473,651$7,563,089
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $6,103,038$6,198,961
I-15 Salaries and benefitsPrior year $231,450$309,908
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $605,178$675,726
I-18 Total expensesPrior year $6,939,666$7,184,595
I-19 Revenue less expensesPrior year $533,985$378,494
Part VI · Governance 1 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members1
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $7,563,089 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,255,161$7,255,161
VIII-3 Investment incomeExcluded from tax $218,814$218,814
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $89,114$89,114
VIII-12 Total revenueRelated to mission $7,344,275 · Unrelated business $0 · Excluded from tax $218,814$7,563,089
Part IX · Statement of functional expenses $7,184,595 across 15 lines filed
IX-4 Benefits paid to or for members$6,198,961
IX-7 Other salaries and wages$194,682
IX-8 Pension plan contributions$99,682
IX-10 Payroll taxes$15,544
IX-11b Legal fees$107,655
IX-11c Accounting fees$86,635
IX-11g Other fees for services$296,735
IX-13 Office expenses$42,198
IX-14 Information technology$22,057
IX-17 Travel$2,175
IX-19 Conferences, conventions and meetings$8,790
IX-20 Interest$41,063
IX-22 Depreciation, depletion and amortization$37,143
IX-23 Insurance$28,422
IX-24 Other expenses (24a–d)$2,853
IX-25 Total functional expenses$7,184,595
Part X · Balance sheet $9,856,475 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $624,589$639,584
X-2 Savings and temporary cash investmentsStart of year $2,570,957$2,284,921
X-4 Accounts receivableStart of year $1,430,947$1,861,927
X-9 Prepaid expenses and deferred chargesStart of year $12,960$11,170
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $4,255,010$4,506,448
X-14 Intangible assetsStart of year $537,345$511,362
X-15 Other assetsStart of year $0$41,063
X-16 Total assetsStart of year $9,431,808$9,856,475
X-17 Accounts payable and accrued expensesStart of year $225,137$245,149
X-25 Other liabilitiesStart of year $772,509$764,105
X-26 Total liabilitiesStart of year $997,646$1,009,254
X-32 Total net assets or fund balancesStart of year $8,434,162$8,847,221
X-33 Total liabilities and net assetsStart of year $9,431,808$9,856,475
Part XI · Reconciliation of net assets $8,847,221 net assets at year end
XI-1 Total revenue$7,563,089
XI-2 Total expenses$7,184,595
XI-3 Revenue less expenses$378,494
XI-4 Net assets at start of year$8,434,162
XI-5 Net unrealized gains (losses) on investments$34,565
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$8,847,221

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

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