1199SEIU GREATER NEW YORK BENEFIT FUND

EIN: 136125570

NEW YORK, NY

Total Revenue
$275,139,678
Total Expenses
$198,168,105
Total Assets
$212,806,434
Net Assets
$137,742,002
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
NY
Phone
6464736336
Tax Period
2023-01-01 to 2023-12-31

1199SEIU GREATER NEW YORK BENEFIT FUND, founded in 1992, is a major nonprofit that reported $275.1M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $77.0M, a strong 28% operating margin.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS UNDER THE TERMS OF THE COLLECTIVE BARGAINING AGREEMENT AND TRUST DOCUMENT.

Program Service Accomplishments

Program 1
Expenses: $0 Revenue: $0

THOUGH THE FUND DOES NOT UNDERTAKE PROGRAM SERVICES AND DOES NOT REPORT ANY EXPENSES ON FORM 990, PART IX, COL (B), THE FUND PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS UNDER THE...

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THOUGH THE FUND DOES NOT UNDERTAKE PROGRAM SERVICES AND DOES NOT REPORT ANY EXPENSES ON FORM 990, PART IX, COL (B), THE FUND PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS UNDER THE TERMS OF THE COLLECTIVE BARGAINING AGREEMENT AND TRUST DOCUMENT. IN 2023 THE ORGANIZATION PROVIDED HEALTH AND WELFARE BENEFITS TO 18,942 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 $273,276,395
Investment Income $1,551,613
Other Revenue $311,670
TOTAL REVENUE $275,139,678

Expense Breakdown

Grants Paid $0
Salaries & Benefits $9,968,044
Fundraising Expenses $0
Program Expenses $0
Other Expenses $6,044,030
TOTAL EXPENSES $198,168,105

Year-over-Year Comparison

2023 2022 Change
Revenue $275,139,678 $252,091,100 +0.1%
Expenses $198,168,105 $222,552,860 -0.1%
Net Income $76,971,573 $29,538,240 +1.6%
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

Financial Distress Indicator

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
11
Independent Members
11
Employees
N/A
Volunteers
13

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
4
$404,279
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A UNION TRUSTEE 1.0
Director
$0 $0 $0
N/A UNION TRUSTEE 1.0
Director
$0 $0 $0
N/A UNION TRUSTEE 1.0
Director
$0 $0 $0
N/A EMPLOYER TRUSTEE 1.0
Director
$0 $0 $0
N/A EMPLOYER TRUSTEE 1.0
Director
$0 $0 $0
N/A UNION TRUSTEE 1.0
Director
$0 $0 $0
N/A UNION TRUSTEE (END 12/23) 1.0
Director
$0 $0 $0
N/A EMPLOYER TRUSTEE 1.0
Director
$0 $0 $0
N/A UNION TRUSTEE 1.0
Director
$0 $0 $0
N/A UNION TRUSTEE (END 4/23) 1.0
Director
$0 $0 $0
N/A EMPLOYER TRUSTEE 1.0
Director
$0 $0 $0
N/A UNION TRUSTEE 1.0
Director
$0 $0 $0
N/A UNION TRUSTEE 1.0
Director
$0 $0 $0
N/A Executive Director 2.1
Officer
$46,162 $36,261 $111,180
N/A Chief Investments Officer 2.1
Officer
$65,449 $52,767 $158,987
N/A Chief Financial Officer 1.7
Officer
$18,132 $17,838 $53,389
N/A Chief Medical Officer 2.1
Officer
$33,060 $27,068 $80,723
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 $275,139,678 $198,168,105 $212,806,434 $76,971,573
2022 $252,091,100 $222,552,860 $114,956,690 $29,538,240
2021 $198,900,852 $216,266,448 $90,660,707 $-17,365,596
2020 $215,600,099 $241,621,823 $107,225,868 $-26,021,724
2019 $206,780,949 $229,863,587 $143,058,250 $-23,082,638
2018 $208,519,214 $206,916,344 $149,963,849 $1,602,870
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