New York City Local 246 Seiu Welfare Benefits Fund

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

EIN: 136307146 ✦ New york, NY ✦ Designated as a 501(c)(9)

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Overview

What is New York City Local 246 Seiu Welfare Benefits Fund?

New York City Local 246 SEIU Welfare Benefits Fund is a small-scale nonprofit organization situated in New York City, specifically at 217 Broadway, Suite 501. Its primary mission is to extend supplemental health benefits that are not offered by an employee's employer. With a team of three individuals, this organization aims to bridge the gap in healthcare coverage for its beneficiaries, providing them with necessary support.


Official website here: www.nyclocal246.org

Is New York City Local 246 Seiu Welfare Benefits Fund legitimate?

New York City Local 246 Seiu Welfare Benefits Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. New York City Local 246 Seiu Welfare Benefits 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: $15,875
Professional Fundraising Fees: $0
Other Salaries and Wages: $214,915

For more financial information, click here


Official website here: www.nyclocal246.org

What is the mission statement of New York City Local 246 Seiu Welfare Benefits Fund?

The New York City Local 246 SEIU Welfare Benefits Fund's mission is centered around providing supplemental health benefits that are not already offered by an employee's main employer. This organization aims to bridge the gaps in healthcare coverage for individuals in need, ensuring they have access to additional medical benefits. By doing so, they contribute to enhancing the overall health and well-being of the community they serve.


Official website here: www.nyclocal246.org

What is the revenue of New York City Local 246 Seiu Welfare Benefits Fund?

New York City Local 246 Seiu Welfare Benefits Fund's revenue in 2023 was $3,492,109.


Official website here: www.nyclocal246.org

Who are the executives of New York City Local 246 Seiu Welfare Benefits Fund and what are their salaries?

The average compensation at New York City Local 246 Seiu Welfare Benefits Fund during 2023 was $76,930. There are 3 employees at New York City Local 246 Seiu Welfare Benefits Fund.

Here are 6 key members and their salaries:


Joseph Colangelo (Trustee/Admin)
  • Compensation: $14,833
  • Related: $0
  • Other: $0
Peter Tucci (Trustee)
  • Compensation: $1,042
  • Related: $0
  • Other: $0
Mark Bardes (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dominic Bavaro (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Anthony Reyes (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jason Vetter (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.nyclocal246.org

Where can I find the form 990 for New York City Local 246 Seiu Welfare Benefits Fund?

New York City Local 246 Seiu Welfare Benefits Fund's most recent form 990 was submitted in 2023 and can be accessed here.


Official website here: www.nyclocal246.org

Learn more at the official website: www.nyclocal246.org

Mission Statement of New York City Local 246 Seiu Welfare Benefits Fund

New York City Local 246 SEIU Welfare Benefits Fund is a nonprofit organization with a mission to provide supplemental health benefits that are not covered by an individual's employer. This fund serves to bridge the gap in healthcare needs, ensuring that individuals have access to comprehensive health services. By offering additional health benefits, this organization enables individuals to maintain their well-being, addressing health concerns that may not be fully addressed through their regular employment benefits.

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Impact




October, 2024

The New York City Local 246 SEIU Welfare Benefits Fund significantly enhances the healthcare security of its members by providing supplemental health benefits that are not covered by their employers. Its focus on filling gaps in health coverage ensures that workers receive essential services, medications, and resources necessary for their well-being. This support directly impacts the overall health of members, reduces financial burdens related to medical expenses, and promotes a healthier workforce in New York City.

By addressing the specific needs that arise when employer-provided health benefits fall short, the Fund helps to alleviate stress associated with healthcare costs, ultimately contributing to improved quality of life for its members and their families. In doing so, it fosters a community of mutual benefit, ensuring that all participants can access the healthcare they need without incurring overwhelming out-of-pocket expenses.




This information is meant to be a general summary of New York City Local 246 Seiu Welfare Benefits 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
$3,492,109 (2023)
Expenses
$2,431,511 (2023)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Investment Income: $262,324
  • Program Service Revenue: $2,284,166
  • Gross Receipts: $26,803,066

Assets and Liabilities:

  • Total Assets: $7,631,199
  • Total Liabilities: $100,118
  • Net Assets: $7,531,081

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Programs

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

EMPLOYEE CONTRIBUTIONS

Revenue

$1,815

EMPLOYER CONTRIBUTIONS

Revenue

$2,282,351

Organization Details

Founding Year

1993

Principal Officer

Joseph Colangelo

NTEE Category

Code: Y40 - Mutual benefit

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