DIVISION 1181 ATU - NEW YORK WELFARE FUND

EIN: 237255573

VALLEY STREAM, NY

Total Revenue
$131,178,259
Total Expenses
$109,247,941
Total Assets
$120,001,891
Net Assets
$117,918,883
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
NY
Principal Officer
MICHAEL CORDIELLO
Phone
7188455800
Tax Period
2023-01-01 to 2023-12-31

DIVISION 1181 ATU - NEW YORK WELFARE FUND, founded in 1983, is a major nonprofit that reported $131.2M in total revenue in fiscal year 2023. The organization ran a surplus of $21.9M, a strong 17% operating margin.

Mission

TO PROVIDE FUND'S PARTICIPANTS WITH HEALTH & WELFARE BENEFITS.

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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 $126,169,187
Investment Income $3,522,626
Other Revenue $1,486,446
TOTAL REVENUE $131,178,259

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,828,351
Fundraising Expenses $0
Other Expenses $1,341,777
TOTAL EXPENSES $109,247,941

Year-over-Year Comparison

2023 2022 Change
Revenue $131,178,259 $124,286,953 +0.1%
Expenses $109,247,941 $103,803,320 +0.1%
Net Income $21,930,318 $20,483,633 +0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
4
Employees
29
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
2
$422,773
Total Directors
9
$802,354
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL CORDIELLO UNION TRUSTEE - CHAIRMAN 3.00
Director
$0 $0 $48,000
NEIL STRAHL EMPLOYER TRUSTEE-SECRETARY 4.00
Director
$0 $0 $0
JEAN-CLAUDE CALIXTE UNION TRUSTEE 3.00
Director
$0 $21,611 $222,462
JAMES P HEDGE ALT. UNION TRUSTEE 2.00
Director
$17,567 $21,611 $39,178
NEIL MANCUSO EMPLOYER TRUSTEE 5.00
Director
$0 $0 $0
COREY MUIRHEAD EMPLOYER TRUSTEE 2.00
Director
$0 $0 $0
STANLEY BRETTSCHNEIDER EMPLOYER TRUSTEE 2.00
Director
$0 $0 $0
TOMAS FRET JR UNION TRUSTEE 3.00
Director
$0 $21,611 $279,831
ANTHONY CORDIELLO UNION TRUSTEE 2.00
Director
$0 $21,611 $212,883
ROBERT D'ULISSE FUND DIRECTOR 33.00
Officer
$211,088 $21,611 $232,699
VINCENT ZITO CONTROLLER 27.00
Officer
$168,463 $21,611 $190,074
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 $131,178,259 $109,247,941 $120,001,891 $21,930,318
2022 $124,286,953 $103,803,320 $94,779,317 $20,483,633
2021 $118,165,970 $95,533,911 $78,112,152 $22,632,059
2020 $76,654,792 $57,687,568 $55,164,625 $18,967,224
2019 $97,750,470 $98,216,827 $36,061,868 $-466,357
2018 $91,446,972 $93,410,571 $35,419,483 $-1,963,599
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