H&gl Welfare Fund

Not tax-deductible

Newark, NJMutual-benefit / member-servingSince 1950EIN 22-1481564Revenue $265.5M in FY2025

On file with the IRS700 Raymond Blvd, 07105-2909 · Newark, NJTax-exempt since Nov 1952

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The purpose of the plan is to provide health and other benefits to eligible participants and their dependents.

$1.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $17.5M a year · 8% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$1.5M
to officers and key staff · 0.6% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$48.5M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 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
$265.5M
+10% vs prior year
Spent
$243.9M
Net assets
$319.3M
By yearFY2020–FY2025
Revenue
$265.5M
FY2025▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$209.9M
FY2021$206.5M
FY2022$218.6M
FY2023$226.6M
FY2024$240.9M
FY2025$265.5M
Expenses
$243.9M
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$182.1M
FY2021$186.1M
FY2022$204.4M
FY2023$215.7M
FY2024$230.6M
FY2025$243.9M
Net assets
$319.3M
FY2025▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$228.0M
FY2021$262.6M
FY2022$266.0M
FY2023$268.5M
FY2024$295.3M
FY2025$319.3M

From the FY2025 Form 990 (year ending March 2025) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1952.

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; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
General Manager
$263,394Pt VII · Sec A
Legal Services
$249,902Pt VII · Sec A
Legal Services
$223,569Pt VII · Sec A
Finance Manager
$199,257Pt VII · Sec A
Asst. General Mgr
$190,172Pt VII · Sec A
$163,076Pt VII · Sec A
Collections Auditor
$162,080Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Beverly Ceaser$263,394$238,639$226,938$216,627$189,340—
Thomas Cotov$249,902$235,950$227,658$228,361$215,870$212,341
Robert Calamari————$243,497$241,612
Vincent Riccardi$223,569$210,164$205,479$199,475$189,351$187,073
Charles Ferns$199,257$186,393$178,915$175,774$161,930$161,203
Charles O'Neil—————$198,880
Russel Bley$190,172$164,956$155,198$148,148——
Beverly Ceasar—————$177,309

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 15aNo

Programs and updates

Provides health and other benefits to eligible participants and their families.

Questions for H&gl Welfare Fund

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The purpose of the plan is to provide health and other benefits to eligible participants and their dependents.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$265.5M
Ln 12
Fees for servicesLn 2g$225.0M
Other incomeLn 4–11$27.0M
Investment incomeLn 3$13.5M
Money outPt IX
$243.9M
Ln 25
Owns and owesPt X
$319.3M
net assets · Ln 32
Cash and savingsLn 1–2$26.8M
Total assetsLn 16$367.8M
LiabilitiesLn 26$48.5M
PeoplePt VI, VII
17
listed · VII A
PaidVII A7
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$225.0M
Investment incomeLn 3$13.5M
Other incomeLn 4–11$27.0M
Gains on assetsLn 7$1.6M
Total revenueLn 12$265.5M
Assets in detailPt X, end of year
SavingsLn 2$26.8M
Cash and savings togetherLn 1–2$26.8M
InvestmentsLn 11–13$252.5M
Land, buildings, equipmentLn 10c$8.6M
Total assetsLn 16$367.8M
LiabilitiesLn 26$48.5M
Net assetsLn 32$319.3M
OperationsPt I, VI
EmployeesI 552
VolunteersI 60
Fiscal year endsHeaderMarch
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 FY25End FY25
Cash and savingsLn 1–2$34.9M$26.8M
InvestmentsLn 11–13$272.3M$252.5M
Land, buildings, equipmentLn 10c$6.6M$8.6M
Total assetsLn 16$350.2M$367.8M
LiabilitiesLn 26$54.9M$48.5M
Net assetsLn 32$295.3M$319.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$236.7M
Pay of current officers, directors and key staffLn 5$622K
Pay of disqualified personsLn 6$499K
Other salaries and wagesLn 7$3.0M
Pension plan contributionsLn 8$1.6M
Other employee benefitsLn 9$717K
Payroll taxesLn 10$332K
Legal feesLn 11b$494K
Accounting feesLn 11c$79K
Investment management feesLn 11f$490K
Other fees for servicesLn 11g$398K
Office expensesLn 13$654K
Information technologyLn 14$72K
OccupancyLn 16$92K
Conferences, conventions and meetingsLn 19$58K
Depreciation, depletion and amortizationLn 22$35K
InsuranceLn 23$505K
Other expenses (24a–d)Ln 24−$2.4M
Total functional expensesLn 25$243.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $265.5M$243.9M$21.6M$319.3M 990 PDF
FY2024 $240.9M$230.6M$10.3M$295.3M 990 PDF
FY2023 $226.6M$215.7M$10.9M$268.5M 990 PDF
FY2022 $218.6M$204.4M$14.2M$266.0M 990 PDF
FY2021 $206.5M$186.1M$20.5M$262.6M 990 PDF
FY2020 $209.9M$182.1M$27.7M$228.0M 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 FY2025 990 (6 parts)
Part I · Summary $265,452,660 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $209,409,264$225,044,356
I-10 Investment incomePrior year $6,473,436$13,453,318
I-11 Other revenuePrior year $25,019,756$26,954,986
I-12 Total revenuePrior year $240,902,456$265,452,660
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $224,776,797$236,659,705
I-15 Salaries and benefitsPrior year $5,948,652$6,722,263
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year −$170,842$494,126
I-18 Total expensesPrior year $230,554,607$243,876,094
I-19 Revenue less expensesPrior year $10,347,849$21,576,566
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $265,452,660 across 6 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $225,044,356$225,044,356
VIII-3 Investment incomeExcluded from tax $11,863,221$11,863,221
VIII-6 Net rental income or lossExcluded from tax $187,843$187,843
VIII-7 Net gain or loss on sales of assetsRelated to mission $1,590,097$1,590,097
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $26,767,143$26,767,143
VIII-12 Total revenueRelated to mission $253,401,596 · Unrelated business $0 · Excluded from tax $12,051,064$265,452,660
Part IX · Statement of functional expenses $243,876,094 across 18 lines filed
IX-4 Benefits paid to or for members$236,659,705
IX-5 Pay of current officers, directors and key staff$621,771
IX-6 Pay of disqualified persons$499,171
IX-7 Other salaries and wages$2,996,071
IX-8 Pension plan contributions$1,556,548
IX-9 Other employee benefits$717,093
IX-10 Payroll taxes$331,609
IX-11b Legal fees$494,150
IX-11c Accounting fees$79,000
IX-11f Investment management fees$489,528
IX-11g Other fees for services$398,479
IX-13 Office expenses$653,944
IX-14 Information technology$72,025
IX-16 Occupancy$92,030
IX-19 Conferences, conventions and meetings$58,319
IX-22 Depreciation, depletion and amortization$35,290
IX-23 Insurance$504,877
IX-24 Other expenses (24a–d)−$2,383,516
IX-25 Total functional expenses$243,876,094
Part X · Balance sheet $367,808,806 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $34,935,173$26,756,392
X-4 Accounts receivableStart of year $36,286,765$79,939,768
X-9 Prepaid expenses and deferred chargesStart of year $65,764$65,764
X-10c Land, buildings and equipment, netStart of year $6,609,030$8,584,915
X-11 Publicly traded securitiesStart of year $232,824,773$212,178,655
X-12 Other securitiesStart of year $39,482,191$40,283,312
X-16 Total assetsStart of year $350,203,696$367,808,806
X-17 Accounts payable and accrued expensesStart of year $1,628,547$694,531
X-25 Other liabilitiesStart of year $53,257,943$47,814,782
X-26 Total liabilitiesStart of year $54,886,490$48,509,313
X-32 Total net assets or fund balancesStart of year $295,317,206$319,299,493
X-33 Total liabilities and net assetsStart of year $350,203,696$367,808,806
Part XI · Reconciliation of net assets $319,299,493 net assets at year end
XI-1 Total revenue$265,452,660
XI-2 Total expenses$243,876,094
XI-3 Revenue less expenses$21,576,566
XI-4 Net assets at start of year$295,317,206
XI-5 Net unrealized gains (losses) on investments$2,405,721
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$319,299,493

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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