Overview
What is Insulators Local No 53 Welfare Fund?
Insulators Local No 53 Welfare Fund is a nonprofit organization situated in Kenner, Louisiana. Primarily, it serves as a health insurance provider for eligible union members and their dependents, funded through contributions from participating contractors and members. The contributions are made based on the number of covered hours worked. The organization's main activity involves distributing a prescription drug card to its eligible beneficiaries. With a small team of one employee, Insulators Local No 53 Welfare Fund aims to support the health needs of its members by offering health insurance benefits.
Is Insulators Local No 53 Welfare Fund legitimate?
Insulators Local No 53 Welfare Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Insulators Local No 53 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: $16,875
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Insulators Local No 53 Welfare Fund?
The Insulators Local No 53 Welfare Fund's primary mission is to collect contributions from participating contractors and union members who employ union members. These contributions, typically made per covered hour of work, are utilized to provide eligible participants with health insurance benefits. Additionally, the fund offers a prescription drug card to eligible participants and their qualified dependents. The aim of these initiatives is to ensure accessible healthcare for the union's members.
Who is the CEO of Insulators Local No 53 Welfare Fund?
Ryan Bordelon is the Executive Director of Insulators Local No 53 Welfare Fund.
What is the revenue of Insulators Local No 53 Welfare Fund?
Insulators Local No 53 Welfare Fund's revenue in 2022 was $2,735,176.
Who are the executives of Insulators Local No 53 Welfare Fund and what are their salaries?
The average compensation at Insulators Local No 53 Welfare Fund during 2022 was $16,875. There is 1 employee and 4 volunteers at Insulators Local No 53 Welfare Fund.
Here are 5 key members and their salaries:
- Compensation: $16,137
- 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
Where can I find the form 990 for Insulators Local No 53 Welfare Fund?
Insulators Local No 53 Welfare Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Insulators Local No 53 Welfare Fund
Insulators Local No 53 Welfare Fund is an organization that receives contributions from participating contractors and their union members. These contributions are made based on the number of covered hours worked. The primary mission of this fund is to utilize these collected funds to provide health insurance benefits for eligible participants. Beyond offering health insurance, the fund also provides a prescription drug card to eligible participants and their qualified dependents. This card serves as an additional resource to help manage medication costs, contributing to the overall well-being of the fund's beneficiaries.
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Impact
October, 2024
Insulators Local No 53 Welfare Fund plays a significant role in ensuring that eligible participants and their qualified dependents have access to essential health benefits. The fund operates by receiving contributions from participating contractors and union members based on each covered hour worked. This model creates a reliable source of funding that directly supports health insurance coverage for individuals within the local union.
One of the key benefits provided by the fund is a prescription drug card, which facilitates access to necessary medications for participants and their families. This not only contributes to the overall health and well-being of union members but also helps mitigate the financial burden associated with healthcare costs.
By maintaining a steady flow of contributions tied to labor, the fund enhances job security and peace of mind for members, knowing that vital health benefits are available to them. Overall, the Insulators Local No 53 Welfare Fund fosters a sense of mutual support within the community while promoting the health and welfare of its participants.
This information is meant to be a general summary of Insulators Local No 53 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: $280,245
- Program Service Revenue: $2,454,931
- Gross Receipts: $2,735,176
Assets and Liabilities:
- Total Assets: $7,764,522
- Total Liabilities: $1,180,683
- Net Assets: $6,583,839
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$1,391,206
MEMBER CONTRIBUTIONS
Revenue
$66,147
RECIPROCAL TRANSFERS
Revenue
$997,578
Organization Details
Founding Year
1953
Phone
(504) 468-9654Principal Officer
Ryan Bordelon
Main Address
2001 VETERANS BLVD 201, KENNER, LA, 70062
NTEE Category
Code: Y40 - Mutual benefit
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