Iron Workers Local 40 361 and 417 Health Fund is a fraternal society based in New York, NY that was founded in 1948. As of 2019 they had $131 million in revenue and $194 million in assets.
Hospitalization, comprehensive, medical, prescription, dental, optical, supplementary medicare, and vacation benefit. To provide Health, vacation and other benefits.
EIN:
13-5622663
City:
State:
Metro:
Website:
Founded:
1948
Type:
501(c)(9)
NTEE:
Revenue:
$131,487,214
Assets:
$194,156,991
Employees:
20
Fiscal year end:
December
Program areas at Iron Workers Local 40 361 and 417 Health Fund
Hospitalization, comprehensive medical, prescription, dental, optical, supplementary medicare, and vacation benefits
Form 990s for Iron Workers Local 40 361 and 417 Health Fund
| Fiscal year ending | Date received by IRS | Form | PDF link |
|---|
| 2018-12 | Jan 10, 2020 | 990 | View PDF |
| 2017-12 | Mar 15, 2019 | 990 | View PDF |
| 2016-12 | Dec 27, 2017 | 990O | View PDF |
| 2015-12 | Apr 5, 2017 | 990O | View PDF |
| 2014-12 | Feb 12, 2016 | 990O | View PDF |
| ...and six more Form 990 PDFs |
Financials for Iron Workers Local 40 361 and 417 Health Fund
| Field | 2018 | 2017 | % Change |
|---|
| Federated campaigns | $0 | $0 | |
| Membership dues | $0 | $0 | |
| Fundraising event contributions | $0 | $0 | |
| Related organizations | $0 | $0 | |
| Government grants (contributions) | $0 | $0 | |
| Normal grants, contributions, etc. | $0 | $0 | |
| <em>Non-cash contributions included in above</em> | $0 | $0 | |
| Total grants, contributions, etc. | $0 | $0 | |
| Field | 2018 | 2017 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | |
| Program services | $127,040,041 | $129,532,910 | -1.9% |
| Investment income and dividends | $5,047,750 | $4,015,740 | 25.7% |
| Tax-exempt bond proceeds | $0 | $0 | |
| Royalty revenue | $0 | $0 | |
| Net rental income | $0 | $0 | |
| Net gain from sale of non-inventory assets | $-603,703 | $561,011 | -207.6% |
| Net income from fundraising events | $0 | $0 | |
| Net income from gaming activities | $0 | $0 | |
| Net income from sales of inventory | $0 | $0 | |
| Miscellaneous revenues | $3,126 | $34,448 | -90.9% |
| Total revenues | $131,487,214 | $134,144,109 | -2.0% |
| Field | 2018 | 2017 | % Change |
|---|
| Grants to govts. and orgs. in USA | $0 | $0 | |
| Grants to individuals in USA | $0 | $0 | |
| Grants to govts., orgs., and individuals outside USA | $0 | $0 | |
| Benefits paid to or for members | $118,897,058 | $117,015,503 | 1.6% |
| Compensation of current officers, etc. | $0 | $0 | |
| Compensation not included above, to disqualified persons | $0 | $0 | |
| Non-officer salaries and wages | $1,248,212 | $1,157,416 | 7.8% |
| Pension/retirement accruals and contributions | $0 | $0 | |
| Other employee benefits | $941,042 | $900,301 | 4.5% |
| Payroll taxes | $105,184 | $101,969 | 3.2% |
| Management fees | $0 | $0 | |
| Legal fees | $185,754 | $276,370 | -32.8% |
| Accounting fees | $240,184 | $259,335 | -7.4% |
| Lobbying fees | $0 | $0 | |
| Pro. fundraising fees | $0 | $0 | |
| Investment mgmt fees | $279,964 | $318,969 | -12.2% |
| Other fee-for-service | $280,893 | $246,782 | 13.8% |
| Advertising and promotion | $0 | $0 | |
| Office expenses | $64,421 | $63,604 | 1.3% |
| Information tech. expenses | $175,577 | $166,151 | 5.7% |
| Royalty expenses | $0 | $0 | |
| Occupancy | $333,550 | $314,321 | 6.1% |
| Travel | $9,408 | $9,762 | -3.6% |
| Public official travel and entertainment | $0 | $0 | |
| Conferences, meetings, etc. | $23,231 | $27,535 | -15.6% |
| Interest | $0 | $0 | |
| Payments to affiliates | $0 | $0 | |
| Depreciation, amortization, etc. | $17,603 | $32,564 | -45.9% |
| Insurance | $215,881 | $219,692 | -1.7% |
| All other expenses | $497,280 | $322,812 | 54.0% |
| Total expenses | $123,235,278 | $121,114,117 | 1.8% |
| Field | 2018 | 2017 | % Change |
|---|
| Cash (non-interest-bearing) | $19,680,701 | $18,591,744 | 5.9% |
| Savings, short-term investments, etc. | $18,840,929 | $17,798,438 | 5.9% |
| Pledges and grants receivable | $0 | $0 | |
| Accounts receivable | $8,271,433 | $9,611,656 | -13.9% |
| Loans receivable from officers, directors, etc. | $0 | $0 | |
| Loans receivable from other disqualified persons | $0 | $0 | |
| Notes and loans receivable | $0 | $0 | |
| Inventories for use | $0 | $0 | |
| Prepaid expenses and deferred charges | $101,882 | $101,882 | |
| Buildings, equipment, etc. post-depreciation | $85,260 | $33,998 | 150.8% |
| Investments, publicly traded securities | $0 | $0 | |
| Investments, other securities | $144,619,726 | $143,245,251 | 1.0% |
| Investments, program-related | $0 | $0 | |
| Intangible assets | $0 | $0 | |
| Other assets | $2,557,060 | $2,227,212 | 14.8% |
| Total assets | $194,156,991 | $191,610,181 | 1.3% |
| Field | 2018 | 2017 | % Change |
|---|
| Accounts payable and accrued expenses | $28,198,289 | $25,614,899 | 10.1% |
| Grants payable | $0 | $0 | |
| Deferred revenue | $0 | $0 | |
| Tax-exempt bond liabilities | $0 | $0 | |
| Escrow or custodial account liability | $0 | $0 | |
| Loans payable to officers and disqualified persons | $0 | $0 | |
| Secured mortgages and notes payable to unrelated third parties | $0 | $0 | |
| Unsecured notes and loans payable to unrelated third parties | $0 | $0 | |
| Other liabilities | $1,387,392 | $4,047,048 | -65.7% |
| Total liabilities | $29,585,681 | $29,661,947 | -0.3% |
| Field | 2018 | 2017 | % Change |
|---|
| Unrestricted net assets | $0 | $0 | |
| Temporarily restricted net assets | $0 | $0 | |
| Permanently restricted net assets | $0 | $0 | |
Vendors for Iron Workers Local 40 361 and 417 Health Fund
| Vendor | Services | Amount paid | Date |
|---|
| Grassi and Co CPA's PC | Tax accounting; Accounting (including auditing) | $49,247 | 2019-02-26 |
| ████████ ██████ ███ █████ ███ | Legal | $194,929 | 2017-12-01 |
| ██████ █████ | Accounting | $312,000 | 2017-12-01 |
| ██ ████ ██████████ ███ | Investment management; Investment | $180,833 | 2017-12-01 |
| █████ ███████████ | Actuary | $149,019 | 2017-12-01 |
| ███ ██████ | | $106,571 | 2016-12-31 |
| █████ ███ | Insurance | | 2016-12-31 |
| ██████ ███████ █████ ██████ | Custodial (securities) | $11,007 | 2016-12-31 |
| ...and 33 more vendors |
Personnel at Iron Workers Local 40 361 and 417 Health Fund
| Name | Title | Compensation | Most recent data |
|---|
| Brian Sabbagh | Fund Manager | $209,138 | Jan. 10, 2020 |
| Robert Walsh | Business Manager | $0 | Sept. 17, 2019 |
Peer fraternal organizations
| | Name | Type | Revenue | Location |
|---|
| 1 | Service Employees Benefit Fund | 501(c)(9) | $40 million | Syracuse, NY |
| 2 | Local 812 Health Fund | 501(c)(9) | $55 million | Great Neck, NY |
| 3 | Mondelez Global LLC Group Benefit Trust I | 501(c)(9) | $132 million | New York, NY |
| 4 | IBEW Local 25 Health and Benefit Fund | 501(c)(9) | $35 million | Hauppauge, NY |
| 5 | Board of Trustees of SMWIA Lu No 28 Welfare Fund | 501(c)(9) | $83 million | Mineola, NY |
| 6 | Consolidated Edison Master Retiree Health VEBA Trust for Weekly Employees | 501(c)(9) | $50 million | New York, NY |
| 7 | Steamfitters Industry Fund | 501(c)(9) | $63 million | Long Island City, NY |
| 8 | Iron Workers Locals 40 and 361 Topping Out Fund | 501(c)(9) | $61 million | New York, NY |
| 9 | LVMH Moet Hennessy Louis Vuitton and Affiliates Veba Trust | 501(c)(9) | $79 million | New York, NY |
| 10 | Cement and Concrete Workers DC Welfare Fund | 501(c)(9) | $34 million | Flushing, NY |
| 11 | Consolidated Edison of NY Inc Master VEBA Retiree Health Trust | 501(c)(9) | $56 million | New York, NY |
| 12 | Episcopal Church Medical Trust | 501(c)(9) | $258 million | New York, NY |
| 13 | The Golub Corporation Employees Benefit Trust | 501(c)(9) | $58 million | Schenectady, NY |
| 14 | UFCW Local 1500 Welfare Fund | 501(c)(9) | $77 million | Westbury, NY |
| 15 | BNA Cash Basis Veba Trust | 501(c)(9) | $97 million | Brooklyn, NY |
| 16 | Welfare Fund of Local No One Iatse | 501(c)(9) | $56 million | New York, NY |
| 17 | Mason Tenders District Council Welfare Fund (MTDC) | 501(c)(9) | $240 million | New York, NY |
| 18 | Excavators Union 731 Welfare | 501(c)(9) | $221 million | Astoria, NY |
| 19 | Ironworkers Local 580 | 501(c)(9) | $50 million | New York, NY |
| 20 | New York Hotel Trades Council and Hotel Association of Nyc Health Benefits Fund | 501(c)(9) | $500 million | New York, NY |
| 21 | Constellation Brands Employee Benefit Trust | 501(c)(9) | $39 million | Victor, NY |
| 22 | Metal Lathers Trust Fund 46 | 501(c)(9) | $39 million | Woodside, NY |
| 23 | Pepsico Employees Long Term Disability Benefit Trust | 501(c)(9) | $60 million | Purchase, NY |
| 24 | National Health Care and Affiliate Voluntary Employee Benefit Association Plan | 501(c)(9) | $40 million | Valley Stream, NY |
| 25 | International Union of Operating Engineers Local 138 Welfare Fund | 501(c)(9) | $37 million | Farmingdale, NY |