Overview
What is Buffalo Laborers Welfare Fund?
Buffalo Laborers Welfare Fund is a nonprofit organization based in Cheektowaga, New York, situated at 25 Tyrol Drive Suite 200. Its primary mission is to offer health and welfare coverage for its participants and their dependents. This is achieved through regular contributions received from the participants' employers, primarily due to collective bargaining agreements with Laborers Local 210 of North America. These contributions are then managed on behalf of the participants, utilizing Health Reimbursement Accounts, to ensure appropriate health and welfare coverage. The organization has a total of 478 employees dedicated to serving its members.
Official website here: www.laborers210benefits.com
Is Buffalo Laborers Welfare Fund legitimate?
Buffalo Laborers Welfare Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Buffalo Laborers 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: $186,515
Professional Fundraising Fees: $0
Other Salaries and Wages: $248,538
For more financial information, click here
Official website here: www.laborers210benefits.com
What is the mission statement of Buffalo Laborers Welfare Fund?
The Buffalo Laborers Welfare Fund's mission is centered around providing health and welfare coverage for its participants and their dependents. This is achieved through regular contributions made by employers who have laborers working for them under a collective bargaining agreement. The contributions collected are then administered on behalf of the participants, utilizing Health Reimbursement Accounts, to ensure the necessary coverage is provided. The fund aims to ensure the well-being and health of its participants and their families, providing a safety net during their employment.
Official website here: www.laborers210benefits.com
Who is the CEO of Buffalo Laborers Welfare Fund?
Thomas L Panek is the Fund Administrator of Buffalo Laborers Welfare Fund.
Official website here: www.laborers210benefits.com
What is the revenue of Buffalo Laborers Welfare Fund?
Buffalo Laborers Welfare Fund's revenue in 2023 was $10,356,203.
Official website here: www.laborers210benefits.com
Who are the executives of Buffalo Laborers Welfare Fund and what are their salaries?
The average compensation at Buffalo Laborers Welfare Fund during 2023 was $910. There are 478 employees at Buffalo Laborers Welfare Fund.
Here are 9 key members and their salaries:
- Compensation: $133,400
- Related: $0
- Other: $53,115
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.laborers210benefits.com
Where can I find the form 990 for Buffalo Laborers Welfare Fund?
Buffalo Laborers Welfare Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.laborers210benefits.com
Learn more at the official website: www.laborers210benefits.com
Mission Statement of Buffalo Laborers Welfare Fund
The Buffalo Laborers Welfare Fund, as its name suggests, is dedicated to providing health and welfare coverage for its participants and their dependents. This nonprofit organization achieves this mission by collecting contributions from the employers of laborers who are under collective bargaining agreements. These contributions are then utilized to manage health reimbursement accounts on behalf of the participants. The primary objective of the Buffalo Laborers Welfare Fund is to ensure that its members and their families have access to necessary healthcare services and welfare support.
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Impact
October, 2024
The Buffalo Laborers Welfare Fund significantly enhances the health and well-being of laborers and their dependents in the Cheektowaga area of New York. By facilitating health and welfare coverage funded through hourly contributions from employers, the Fund ensures that those working under collective bargaining agreements receive essential health benefits.
This structured approach to health coverage not only supports individual laborers but also fosters a sense of security and stability within families and the community. Through the administration of contributions received from employers aligned with Laborers Local 210, participants gain access to health reimbursement accounts, which help manage medical costs effectively. This impact is particularly important in an industry where health risks can be prevalent and access to affordable healthcare is crucial for overall quality of life.
The Fund's commitment to providing robust health and welfare benefits promotes a healthier workforce, reducing absenteeism and increasing productivity. Overall, the Buffalo Laborers Welfare Fund plays a pivotal role in supporting laborers, empowering them to focus on their work without the added stress of healthcare uncertainties.
This information is meant to be a general summary of Buffalo Laborers 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 2023.
- Investment Income: $580,485
- Program Service Revenue: $9,406,416
- Gross Receipts: $10,356,203
Assets and Liabilities:
- Total Assets: $21,065,269
- Total Liabilities: $153,673
- Net Assets: $20,911,596
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$8,980,340
LATE FEES AND PENALTIES - EMPLOYER
Revenue
$28,029
PARTICIPANT CONTRIBUTIONS
Revenue
$395,797
COBRA STIMULUS PREMIUM
Revenue
$2,250
Organization Details
Founding Year
1956
Phone
(716) 894-8061Principal Officer
Thomas L Panek
Main Address
25 Tyrol Drive Suite 200, Cheektowaga, NY, 14227
Website
www.laborers210benefits.comNTEE Category
Code: Y40 - Mutual benefit
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