INTERNATIONAL BROTHERHOOD OF TRADE UNIONS HEALTH AND WELFARE FUND

EIN: 116490308 Mutual Benefit

CARLE PLACE, NY

Total Revenue
$207,214,422
Total Expenses
$204,797,957
Total Assets
$48,514,654
Net Assets
$21,701,303
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
NY
Principal Officer
ROBERT M VELLA JR
Phone
5167415564
Tax Period
2023-01-01 to 2023-12-31

INTERNATIONAL BROTHERHOOD OF TRADE UNIONS HEALTH AND WELFARE FUND, founded in 1998, is a major nonprofit in the Mutual Benefit sector that reported $207.2M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

THE FUND PROVIDES HEALTH BENEFITS (MEDICAL, DENTAL, OPTICAL AND PRESCRIPTION) COVERAGE FOR ELIGIBLE PARTICIPANTS AND THEIR COVERED DEPENDENTS.

Program Service Accomplishments

Program 1

PROVIDING HEALTH BENEFITS TO ITS MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $204,368,847
Investment Income $2,845,575
Other Revenue $0
TOTAL REVENUE $207,214,422

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $1,394,161
TOTAL EXPENSES $204,797,957

Year-over-Year Comparison

2023 2022 Change
Revenue $207,214,422 $189,100,365 +0.1%
Expenses $204,797,957 $187,758,791 +0.1%
Net Income $2,416,465 $1,341,574 +0.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
2
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$1,146,893
Total Directors
4
$1,884,040
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT P VELLA UNION TRUSTEE 1.00
Director
$0 $186,698 $803,198
RICHARD DOMBROWSKI UNION TRUSTEE 1.00
Director
$0 $239,442 $1,080,842
RODDY AZMOUN EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
YEHUDA JAY HEFTER EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
ROBERT M VELLA JR FUND ADMINISTRATOR 1.00
Officer
$0 $305,493 $1,146,893
ROBERT SCALZA EMPLOYEE 0.00
Highest
$0 $141,418 $954,758
ALFRED NAPOLITANO EMPLOYEE 0.00
Highest
$0 $140,440 $921,840
JOSEPH VELLA EMPLOYEE 0.00
Highest
$0 $8,928 $184,850
KEVIN WATTS EMPLOYEE 0.00
Highest
$0 $33,414 $204,316
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $207,214,422 $204,797,957 $48,514,654 $2,416,465
2022 $189,100,365 $187,758,791 $44,635,197 $1,341,574
2021 $175,647,357 $179,814,443 $48,855,172 $-4,167,086
2020 $155,694,712 $145,702,452 $41,727,137 $9,992,260
2019 $128,279,356 $129,193,179 $29,761,336 $-913,823
2018 $111,763,124 $112,181,164 $30,846,302 $-418,040
2017 $47,589,377 $43,730,263 $18,100,691 $3,859,114
2016 $24,389,178 $24,336,018 $11,565,162 $53,160
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