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← LOCAL 6559 HEALTH BENEFITS FUND

Form 990 for tax year 2023

Filed by LOCAL 6559 HEALTH BENEFITS FUND.

Totals

Total revenue
$1,312,367
Total expenses
$663,797
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$455,970
Investment income
$768,923
Other revenue
$87,474
Total assets, end of year
$18,416,452
Total liabilities, end of year
$201,161
Net assets or fund balances, end of year
$18,215,291
Program services expenses (Part IX)
$254,932
Management and general expenses
$408,865
Fundraising expenses
$0
Program service expenses (Part III)
$254,932

Program services were 38.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $455,970 · related or exempt $455,970

  • 3 · Investment income

    total $519,524 · excluded $519,524

  • 6a · Gross rents

    real property $16,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $16,000

  • 6d · Net rental income or loss

    total $16,000 · excluded $16,000

  • 7a · Gross sales of assets other than inventory

    securities $4,406,242

  • 7b · Less cost or other basis and sales expenses

    securities $4,156,843

  • 7c · Gain or loss

    securities $249,399

  • 7d · Net gain or loss

    total $249,399 · excluded $249,399

  • 11a · Other revenue: OTHER INCOME

    total $71,474 · excluded $71,474

  • 11e · Other revenue, total

    $71,474

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $84,615 · program services $84,615

  • 5 · Compensation of officers, directors and key employees

    total $162,500 · program services $112,125 · management and general $50,375

  • 6 · Compensation of disqualified persons

    total $45,671 · program services $31,513 · management and general $14,158

  • 7 · Other salaries and wages

    total $31,667 · program services $19,000 · management and general $12,667

  • 10 · Payroll taxes

    total $12,799 · program services $7,679 · management and general $5,120

  • 11b · Fees: legal

    total $43,179 · management and general $43,179

  • 11c · Fees: accounting

    total $42,613 · management and general $42,613

  • 11g · Fees: other

    total $2,615 · management and general $2,615

  • 13 · Office expenses

    total $19,959 · management and general $19,959

  • 16 · Occupancy

    total $32,374 · management and general $32,374

  • 19 · Conferences, conventions and meetings

    total $500 · management and general $500

  • 22 · Depreciation, depletion and amortization

    total $31,670 · management and general $31,670

  • 23 · Insurance

    total -$880 · management and general -$880

  • 24a · Other expenses: BROKERAGE FEES

    total $118,104 · management and general $118,104

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $31,792 · management and general $31,792

  • 24c · Other expenses: FOREIGN TAX WITHHELD

    total $4,619 · management and general $4,619

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $356,909 · end of year $354,866

  • 2 · Savings and temporary cash investments

    beginning of year $395,581 · end of year $446,702

  • 3 · Pledges and grants receivable

    beginning of year $8,686 · end of year $7,021

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,596 · end of year $7,400

  • 10a · Land, buildings and equipment: cost or other basis

    $1,177,367

  • 10b · Land, buildings and equipment: accumulated depreciation

    $439,829

  • 10c · Land, buildings and equipment, net

    beginning of year $769,208 · end of year $737,538

  • 11 · Investments: publicly traded securities

    beginning of year $14,909,805 · end of year $16,728,701

  • 15 · Other assets

    beginning of year $128,055 · end of year $134,224

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,185 · end of year $4,161

  • 25 · Other liabilities

    beginning of year $207,000 · end of year $197,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $16,355,655 · end of year $18,215,291

Mission and programs · 2023

Mission

THE FUND PROVIDES HOSPITAL, SURGICAL, DRUG, MEDICAL AND OPTICAL BENEFITS FOR ELIGIBLE EMPLOYEES (AND THEIR DEPENDENTS) OF CONTRIBUTING EMPLOYERS.

Activities or mission (Part I)

THE FUND PROVIDES LIFE INSURANCE, HOSPITAL, SURGICAL, DRUG, MEDICAL AND OPTICAL BENEFITS TO ELIGIBLE MEMBERS AND THEIR ELIGIBLE DEPENDENTS, BASED ON CONTRIBUTIONS RECIEVED FROM THEIR EMPLOYERS.

  • THE FUND PROVIDES HOSPITAL, SURGICAL, DRUG, MEDICAL AND OPTICAL BENEFITS TO ELIGIBLE MEMBERS AND THEIR ELIGIBLE DEPENDENTS, BASED ON CONTRIBUTIONS RECIEVED FROM THEIR EMPLOYERS.

    Expenses $254,932 · Revenue $455,970

As filed on the 2023 return.

Listed in Part VII

  • Nina Bellini

    OFFICER/TRUSTEE

    Total calculated
    $321,561
    From this org
    $162,500
    From related orgs
    $159,061
    Other
    $0
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $160,000 + $159,061 related
    Bonus
    $0
    Other
    $2,500
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $162,500 + $159,061 related

  • Andrew Bellini

    OFFICER/TRUSTEE

    Total calculated
    $214,204
    From this org
    $0
    From related orgs
    $214,204
    Other
    $0
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $214,204 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $214,204 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • UNITY PENSION FUND - LOCAL 210 RETIREMENT PLAN

    501 (C) · FUND PROVIDES PENSION FOR ELIGIBLE MEMBERS BASED ON CONTRIBUTING EMPLOYERS · NY

  • LOCAL 6559 WAREHOUSE & PRODUCTION EMPLOYEES UNION

    501 (C) · REPRESENT THE UNION MEMBERS IN LABOR RELATED MATTERS IN UNIONIZED SHOPS · NY

Provenance

Return type
form_990
Tax year
2023
Filed
15 April 2025
IRS schema version
2023v6.0
Source object
202501059349301115

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