Standardbred Owners Assocwelfare Fund

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 111875256 ✦ Yonkers, NY ✦ Designated as a 501(c)(9)

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Overview

What is Standardbred Owners Assocwelfare Fund?

The Standardbred Owners Assocwelfare Fund is a nonprofit organization that prioritizes the well-being of its members and their dependents. They offer comprehensive welfare benefits, covering medical, dental, and hospital expenses, along with related costs. Additionally, the fund provides an opportunity for participants to purchase life insurance contracts, safeguarding their financial security. The organization's primary mission is to support its members through these welfare programs, enhancing their overall quality of life.


Official website here: www.soaofny.com

Is Standardbred Owners Assocwelfare Fund legitimate?

Standardbred Owners Assocwelfare Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Standardbred Owners Assocwelfare Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $140,816

For more financial information, click here


Official website here: www.soaofny.com

What is the mission statement of Standardbred Owners Assocwelfare Fund?

The Standardbred Owners Assocwelfare Fund is committed to providing welfare benefits. Its mission involves offering medical, dental, hospital, and related benefits to participants and their dependents. Additionally, the fund provides an opportunity for participants to purchase life insurance contracts through premium programs.


Official website here: www.soaofny.com

Who is the CEO of Standardbred Owners Assocwelfare Fund?

Joseph A Faraldo is the Trustee of Standardbred Owners Assocwelfare Fund.


Official website here: www.soaofny.com

What is the revenue of Standardbred Owners Assocwelfare Fund?

Standardbred Owners Assocwelfare Fund's revenue in 2022 was $301,811.


Official website here: www.soaofny.com

Who are the executives of Standardbred Owners Assocwelfare Fund and what are their salaries?

The average compensation at Standardbred Owners Assocwelfare Fund during 2022 was $46,939. There are 3 employees at Standardbred Owners Assocwelfare Fund.


Here are 6 key members and their salaries:


Joseph A Faraldo (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Irving Atherton (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Brennan (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Henrey Gargiulo (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Peter Venaglia (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Patrick O'Brien (Foundation Mana)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.soaofny.com

Where can I find the form 990 for Standardbred Owners Assocwelfare Fund?

Standardbred Owners Assocwelfare Fund's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.soaofny.com

Learn more at the official website: www.soaofny.com

Mission Statement of Standardbred Owners Assocwelfare Fund

The Standardbred Owners Association Welfare Fund is committed to providing welfare benefits for its participants and their dependents. This nonprofit organization extends its support by covering medical, dental, hospital, and related expenses for those under its purview. Furthermore, the Standardbred Owners Association Welfare Fund offers a program that enables participants to purchase life insurance contracts, thereby ensuring an additional layer of financial security.

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Impact




October, 2024

The Standardbred Owners Assocwelfare Fund plays a crucial role in enhancing the well-being of participants in the Standardbred racing community. By providing welfare benefits, including medical, dental, and hospital coverage, the Fund ensures that individuals and their dependents have access to essential healthcare services. This support not only improves their quality of life but also promotes a sense of security within the industry.

Additionally, the Fund enhances financial security by offering programs that provide premiums for life insurance contracts, helping participants safeguard their families’ futures. Overall, the impact of the Standardbred Owners Assocwelfare Fund is significant, fostering a healthier and more secure environment for those involved in Standardbred racing.




This information is meant to be a general summary of Standardbred Owners Assocwelfare Fund. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$301,811 (2022)
Expenses
$2,038,758 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $193,389
  • Program Service Revenue: $108,422
  • Gross Receipts: $2,363,395

Assets and Liabilities:

  • Total Assets: $7,100,695
  • Total Liabilities: $480,935
  • Net Assets: $6,619,760

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

Membership Dues & Assessments

Revenue

$108,422

Organization Details

Founding Year

1958

Principal Officer

Joseph A Faraldo

Main Address

733 YONKERS AVENUE -SUITE 102, YONKERS, NY, 10704

NTEE Category

Code: Y40 - Mutual benefit

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