Overview
What is Material Yard Workers Local 1175 Welfare Fund?
Material Yard Workers Local 1175 Welfare Fund is a nonprofit organization established in Astoria, New York. Its primary mission is to offer medical benefits to eligible union members and their dependents. With a participant count of 146, the fund provides coverage for medical and surgical care, as well as hospitalization, subject to specific employment and union membership conditions. The fund also covers premiums for group life insurance and accident and health insurance policies. Its key activity revolves around ensuring the well-being of union members and their families by providing essential healthcare benefits.
Is Material Yard Workers Local 1175 Welfare Fund legitimate?
Material Yard Workers Local 1175 Welfare Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Material Yard Workers Local 1175 Welfare 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: $142,609
For more financial information, click here
What is the mission statement of Material Yard Workers Local 1175 Welfare Fund?
The Material Yard Workers Local 1175 Welfare Fund's mission is centered around providing medical benefits to eligible participants and their dependents. In specific terms, the fund aims to pay or arrange for the payment of premiums on group life insurance, accident and health insurance policies for medical and surgical care, as well as hospitalization. The eligibility for these benefits is determined by factors such as length of service in the industry, membership in the union, and employer contributions. The fund acts as a safety net, ensuring that members and their families have access to necessary healthcare services.
Who is the CEO of Material Yard Workers Local 1175 Welfare Fund?
Dominic Valdner is the Trustee of Material Yard Workers Local 1175 Welfare Fund.
What is the revenue of Material Yard Workers Local 1175 Welfare Fund?
Material Yard Workers Local 1175 Welfare Fund's revenue in 2022 was $4,222,168.
Who are the executives of Material Yard Workers Local 1175 Welfare Fund and what are their salaries?
The average compensation at Material Yard Workers Local 1175 Welfare Fund during 2022 was $142,609. There is 1 employee at Material Yard Workers Local 1175 Welfare Fund.
Here are 6 key members and their salaries:
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- Other: $0
- Compensation: $145,330
- Related: $0
- Other: $87,110
Where can I find the form 990 for Material Yard Workers Local 1175 Welfare Fund?
Material Yard Workers Local 1175 Welfare Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Material Yard Workers Local 1175 Welfare Fund
Material Yard Workers Local 1175 Welfare Fund is committed to providing medical benefits to eligible participants and their dependents. As specified in its mission, the fund aims to pay or arrange for the payment of welfare benefits directly, as well as cover premiums for group life insurance, accident, and health insurance policies. These policies are designed to cover medical and surgical care, as well as hospitalization for members of the union and their dependents. The fund's trustees have the authority to determine the conditions for eligibility, such as length of service in the industry, union membership, and employer contributions. The fund's primary objective is to support the health and wellbeing of its union members and their families by providing them with necessary medical benefits.
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Impact
October, 2024
Material Yard Workers Local 1175 Welfare Fund plays a significant role in enhancing the quality of life for its 146 participants and their dependents in Astoria, NY. By providing essential medical benefits, it ensures that union members have access to comprehensive healthcare services, including medical and surgical care as well as hospitalization. This support is crucial in keeping the workforce healthy and secure, promoting wellbeing among its members and their families.
The Fund also facilitates group life and health insurance policies, which adds an additional layer of financial security for the participants. This mission not only addresses immediate healthcare needs but also fosters peace of mind, allowing members to focus on their work without the constant worry of medical expenses.
Furthermore, the Fund's focus on determining eligibility based on length of service and union membership highlights its commitment to supporting those who have dedicated their time and effort to the industry. This approach helps to build a stronger sense of community within the union, reinforcing the bond among members while advocating for their welfare. Overall, the Material Yard Workers Local 1175 Welfare Fund significantly impacts the lives of its members by providing vital healthcare resources and promoting a culture of mutual benefit and solidarity.
This information is meant to be a general summary of Material Yard Workers Local 1175 Welfare 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $58,016
- Program Service Revenue: $4,162,701
- Gross Receipts: $4,641,117
Assets and Liabilities:
- Total Assets: $2,374,234
- Total Liabilities: $27,085
- Net Assets: $2,347,149
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$4,141,724
PARTICIPANT CONTRIBUTI
Revenue
$20,977
Organization Details
Founding Year
1956
Phone
(718) 392-6660Principal Officer
Dominic Valdner
Main Address
34-11 35TH AVENUE, ASTORIA, NY, 11106
NTEE Category
Code: Y40 - Mutual benefit
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