Overview
What is Local 580 - Insurance Fund?
Local 580 - Insurance Fund is a nonprofit organization based in New York City, specifically at 501 West 42nd Street. Their primary objective is to extend health and additional benefits to the eligible members of their community. The organization, with a workforce of 62 employees, focuses on improving the wellbeing of its participants by providing essential health benefits.
Is Local 580 - Insurance Fund legitimate?
Local 580 - Insurance Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Local 580 - Insurance 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: $297,483
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,377,028
For more financial information, click here
What is the mission statement of Local 580 - Insurance Fund?
Local 580- Insurance Fund is dedicated to extending health and additional benefits to eligible participants. The primary objective of this organization is to ensure the well-being of those enrolled, providing them with essential coverage and support. By offering a comprehensive range of benefits, the Fund aims to enhance the overall quality of life for its members. Furthermore, the organization remains committed to staying updated with the latest advancements in healthcare and other relevant areas, making certain that participants have access to the most current and effective services. Overall, Local 580- Insurance Fund prioritizes the health and well-being of its participants, offering them peace of mind and the necessary resources to thrive.
Who is the CEO of Local 580 - Insurance Fund?
Brendan Tormey is the Employer Trustee of Local 580 - Insurance Fund.
What is the revenue of Local 580 - Insurance Fund?
Local 580 - Insurance Fund's revenue in 2022 was $45,790,999.
Who are the executives of Local 580 - Insurance Fund and what are their salaries?
The average compensation at Local 580 - Insurance Fund during 2022 was $27,008. There are 62 employees at Local 580 - Insurance Fund.
Here are 12 key members and their salaries:
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- Compensation: $177,159
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- Other: $120,324
- Compensation: $176,596
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- Other: $120,324
- Compensation: $173,129
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- Other: $120,324
- Compensation: $195,781
- Related: $0
- Other: $137,169
Where can I find the form 990 for Local 580 - Insurance Fund?
Local 580 - Insurance Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Local 580 - Insurance Fund
Local 580 - Insurance Fund is a mission-driven organization committed to extending health and additional benefits to eligible participants. In simple terms, its primary goal is to safeguard the wellbeing of those it serves.
This non-profit organization takes pride in its role as a provider of essential benefits, ensuring that eligible individuals have access to the care they need to maintain their health and overall well-being. By offering a range of benefits, Local 580 - Insurance Fund strives to enhance the quality of life for its members, providing peace of mind and security in the face of various challenges.
In essence, the organization's unwavering dedication to its mission is centered around the belief that everyone deserves access to the necessities that contribute to a healthy and fulfilling life. Local 580 - Insurance Fund's commitment extends beyond just health benefits, as it continues to explore ways to expand its offerings and meet the evolving needs of its participants.
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Impact
October, 2024
Local 580 - Insurance Fund plays a crucial role in ensuring that eligible participants have access to vital health and other benefits. Based in New York, this organization focuses on providing comprehensive support that enhances the well-being of its members. By offering health benefits and additional support, Local 580 helps safeguard the health of individuals and their families, promoting a healthier community overall. The availability of these benefits can improve the quality of life for participants, reduce financial burdens related to medical expenses, and foster a sense of security among members, allowing them to focus on their work and personal lives with peace of mind.
This information is meant to be a general summary of Local 580 - Insurance 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: $2,749,957
- Program Service Revenue: $43,039,255
- Gross Receipts: $472,709,945
Assets and Liabilities:
- Total Assets: $321,828,797
- Total Liabilities: $20,548,698
- Net Assets: $301,280,099
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$42,781,764
PARTICIPANT CONTRIBUTIONS
Revenue
$257,491
Organization Details
Founding Year
1946
Phone
(212) 695-5206Principal Officer
Brendan Tormey
Main Address
501 WEST 42ND STREET, NEW YORK, NY, 10036
NTEE Category
Code: Y40 - Mutual benefit
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