Plumbers-112 Welfare Plan

Not tax-deductible

Binghamton, NYMutual-benefit / member-servingSince 1961EIN 16-6053348

Provide medical, vision and prescription for members of the plumbers, pipefitters and apprentices of local 112-binghamton, NY

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
5 of 5
filings with a surplus
Average surplus $1.3M a year · 15% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$112K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 10 voting members
Looks good: 6 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.1M
-0.8% vs prior year
Spent
$8.3M
Net assets
$14.6M
By yearFY2020–FY2024
Revenue
$9.1M
FY2024▼ -0.8%
Revenue by fiscal year
FY2020$7.6M
FY2021$8.9M
FY2022$8.8M
FY2023$9.2M
FY2024$9.1M
Expenses
$8.3M
FY2024▲ +2%
Expenses by fiscal year
FY2020$6.2M
FY2021$7.4M
FY2022$7.3M
FY2023$8.1M
FY2024$8.3M
Net assets
$14.6M
FY2024▲ +9%
Net assets by fiscal year
FY2020$9.9M
FY2021$11.4M
FY2022$11.8M
FY2023$13.5M
FY2024$14.6M

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

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1963.

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

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Business Manager/Financial
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2022FY2021FY2020
Dave Vanauken$38,480$34,032$34,119

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.

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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

Offers medical, vision, and prescription benefits to Local 112 plumbers, pipefitters, and apprentices.

Provided by the organization

This section is blank until Plumbers-112 Welfare Plan claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

Provide medical, vision and prescription for members of local 112-BINGHAMTON, ny

Pt IX · col B

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$9.1M
Ln 12
Fees for servicesLn 2g$8.8M
Investment incomeLn 3$295K
Other incomeLn 4–11$3K
Money outPt IX
$8.3M
Ln 25
Owns and owesPt X
$14.6M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$14.7M
LiabilitiesLn 26$112K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$8.8M
Investment incomeLn 3$295K
Other incomeLn 4–11$3K
Gains on assetsLn 7−$93K
Total revenueLn 12$9.1M
Assets in detailPt X, end of year
CashLn 1$2.0M
Cash and savings togetherLn 1–2$2.0M
InvestmentsLn 11–13$11.7M
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$14.7M
LiabilitiesLn 26$112K
Net assetsLn 32$14.6M
OperationsPt I, VI
EmployeesI 51
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 FY24End FY24
Cash and savingsLn 1–2$1.3M$2.0M
InvestmentsLn 11–13$11.2M$11.7M
Land, buildings, equipmentLn 10c$4K$2K
Total assetsLn 16$13.8M$14.7M
LiabilitiesLn 26$300K$112K
Net assetsLn 32$13.5M$14.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$7.4M
Pay of current officers, directors and key staffLn 5$43K
Other salaries and wagesLn 7$75K
Other employee benefitsLn 9$86K
Payroll taxesLn 10$10K
Legal feesLn 11b$46K
Accounting feesLn 11c$16K
Investment management feesLn 11f$36K
Other fees for servicesLn 11g$390K
Office expensesLn 13$13K
OccupancyLn 16$10K
Conferences, conventions and meetingsLn 19$15K
Depreciation, depletion and amortizationLn 22$1K
InsuranceLn 23$139K
Other expenses (24a–d)Ln 24$3K
Total functional expensesLn 25$8.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $9.1M$8.3M$877K$14.6M 990 PDF
FY2023 $9.2M$8.1M$1.1M$13.5M 990 PDF
FY2022 $8.8M$7.3M$1.5M$11.8M 990 PDF
FY2021 $8.9M$7.4M$1.6M$11.4M 990 PDF
FY2020 $7.6M$6.2M$1.3M$9.9M 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 (4 parts)
Part VIII · Statement of revenue $9,136,959 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,838,676$8,838,676
VIII-3 Investment incomeExcluded from tax $387,759$387,759
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$92,676−$92,676
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,200$3,200
VIII-12 Total revenueRelated to mission $8,841,876 · Unrelated business $0 · Excluded from tax $295,083$9,136,959
Part IX · Statement of functional expenses $8,260,399 across 15 lines filed
IX-4 Benefits paid to or for members$7,375,146
IX-5 Pay of current officers, directors and key staff$42,795
IX-7 Other salaries and wages$75,348
IX-9 Other employee benefits$86,323
IX-10 Payroll taxes$10,368
IX-11b Legal fees$46,210
IX-11c Accounting fees$16,450
IX-11f Investment management fees$36,265
IX-11g Other fees for services$389,597
IX-13 Office expenses$12,545
IX-16 Occupancy$9,967
IX-19 Conferences, conventions and meetings$15,205
IX-22 Depreciation, depletion and amortization$1,472
IX-23 Insurance$139,219
IX-24 Other expenses (24a–d)$3,489
IX-25 Total functional expenses$8,260,399
Part X · Balance sheet $14,735,601 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,306,347$2,017,943
X-4 Accounts receivableStart of year $1,195,401$923,170
X-9 Prepaid expenses and deferred chargesStart of year $100,000$100,000
X-10c Land, buildings and equipment, netStart of year $3,839$2,367
X-11 Publicly traded securitiesStart of year $11,160,565$11,692,121
X-16 Total assetsStart of year $13,766,152$14,735,601
X-17 Accounts payable and accrued expensesStart of year $47,905$36,571
X-25 Other liabilitiesStart of year $252,371$74,954
X-26 Total liabilitiesStart of year $300,276$111,525
X-27 Net assets without donor restrictionsStart of year $13,465,876$14,624,076
X-32 Total net assets or fund balancesStart of year $13,465,876$14,624,076
X-33 Total liabilities and net assetsStart of year $13,766,152$14,735,601
Part XI · Reconciliation of net assets $14,624,076 net assets at year end
XI-1 Total revenue$9,136,959
XI-2 Total expenses$8,260,399
XI-3 Revenue less expenses$876,560
XI-4 Net assets at start of year$13,465,876
XI-5 Net unrealized gains (losses) on investments$281,740
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$14,624,076

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

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