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Nonprofiteer
← NJBLS WELFARE FUND

Form 990 for tax year 2023

Filed by NJBLS WELFARE FUND.

Totals

Total revenue
$44,367,864
Total expenses
$40,945,063
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$41,767,353
Investment income
$2,590,983
Other revenue
$9,528
Total assets, end of year
$116,568,226
Total liabilities, end of year
$17,637,873
Net assets or fund balances, end of year
$98,930,353
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: EMPLOYER CONTRIB

    total $38,835,901 · related or exempt $38,835,901

  • 2b · Program service revenue: PARTICIPANT CONTRIB

    total $2,931,452 · related or exempt $2,931,452

  • 3 · Investment income

    total $2,874,085 · excluded $2,874,085

  • 7a · Gross sales of assets other than inventory

    securities $32,948,284

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

    securities $33,231,386

  • 7c · Gain or loss

    securities -$283,102

  • 7d · Net gain or loss

    total -$283,102 · excluded -$283,102

  • 11a · Other revenue: OTHER INCOME

    total $9,528 · related or exempt $9,528

  • 11e · Other revenue, total

    $9,528

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $38,487,396

  • 5 · Compensation of officers, directors and key employees

    total $321,287

  • 7 · Other salaries and wages

    total $1,534,662

  • 8 · Pension plan contributions

    total $673,219

  • 9 · Other employee benefits

    total $414,092

  • 10 · Payroll taxes

    total $142,917

  • 11b · Fees: legal

    total $632,184

  • 11c · Fees: accounting

    total $498,369

  • 11f · Fees: investment management

    total $197,417

  • 11g · Fees: other

    total $195,653

  • 13 · Office expenses

    total $360,615

  • 14 · Information technology

    total $231,108

  • 16 · Occupancy

    total $44,851

  • 19 · Conferences, conventions and meetings

    total $46,519

  • 22 · Depreciation, depletion and amortization

    total $25,273

  • 23 · Insurance

    total $184,905

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $142,231

  • 24b · Other expenses: REIMBURSED EXPENSES

    total -$3,187,635

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,684,916 · end of year $19,897,508

  • 4 · Accounts receivable

    beginning of year $7,087,738 · end of year $9,378,984

  • 9 · Prepaid expenses and deferred charges

    beginning of year $48,789

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

    $205,343

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

    $101,705

  • 10c · Land, buildings and equipment, net

    beginning of year $128,910 · end of year $103,638

  • 11 · Investments: publicly traded securities

    beginning of year $67,063,179 · end of year $71,702,268

  • 12 · Investments: other securities

    beginning of year $10,380,886 · end of year $14,797,828

  • 15 · Other assets

    beginning of year $688,000 · end of year $688,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $993,272 · end of year $655,247

  • 19 · Deferred revenue

    beginning of year $131,613 · end of year $136,772

  • 25 · Other liabilities

    beginning of year $17,664,153 · end of year $16,845,854

  • 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 $90,293,380 · end of year $98,930,353

Mission and programs · 2023

Mission

TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.

Activities or mission (Part I)

PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.

  • TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.

As filed on the 2023 return.

Listed in Part VII

  • MICHAEL E HELLSTROM

    CO-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • JACK KOCSIS

    CO-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • ROBERT GARIEPY

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • MICHAEL FITZPATRICK

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • CARL E STYLES

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • JOSEPH GIORDANO

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • PHIL PRICSO

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • PAUL ROLDAN

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • CHRISTOPHER CUPO

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • BRYAN HALFEN

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • VICTORIA PETERSON-MITCHELL

    FUND ADMIN

    Total calculated
    $321,287
    From this org
    $257,259
    From related orgs
    $0
    Other
    $64,028
    Hours/week
    17 + 15 related

    Schedule J breakdown matched by us

    Base
    $246,154
    Bonus
    $0
    Other
    $11,105
    Deferred
    $39,648
    Nontaxable benefits
    $24,380
    Filer's total
    $321,287

  • KIMBERLY KEMPLE

    COLLECTIONS MGR

    Total calculated
    $241,466
    From this org
    $177,438
    From related orgs
    $0
    Other
    $64,028
    Hours/week
    15 + 20 related

    Schedule J breakdown matched by us

    Base
    $165,530
    Bonus
    $0
    Other
    $11,908
    Deferred
    $39,648
    Nontaxable benefits
    $24,380
    Filer's total
    $241,466

  • SUSAN DOMINGUEZ

    SENIOR ANALYST

    Total calculated
    $181,826
    From this org
    $117,798
    From related orgs
    $0
    Other
    $64,028
    Hours/week
    15 + 20 related

    Schedule J breakdown matched by us

    Base
    $117,798
    Bonus
    $0
    Other
    $0
    Deferred
    $39,648
    Nontaxable benefits
    $24,380
    Filer's total
    $181,826

  • MARITZA PEREZ

    EXECUTIVE ASSISTANT

    Total calculated
    $164,667
    From this org
    $100,639
    From related orgs
    $0
    Other
    $64,028
    Hours/week
    17 + 15 related

    Schedule J breakdown matched by us

    Base
    $100,639
    Bonus
    $0
    Other
    $0
    Deferred
    $39,648
    Nontaxable benefits
    $24,380
    Filer's total
    $164,667

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

  • 3 · Approval by the board or compensation committee

Answered no

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

The filer's explanations (Part III)

PART I, LINE 3, RELEVANT INFORMATION REGARDING COMPENSATION AND BENEFITS
KIMBERLY KEMPLE RECEIVES COMPENSATION AND BENEFITS IN HER CAPACITY AS COLLECTIONS MANAGER OF THIS ENTITY AND THE RELATED PENSION AND ANNUITY FUNDS. COMPENSATION AND BENEFITS ARE PAID BY THE WELFARE FUND WITH REIMBURSEMENTS MADE ACCORDINGLY. THE WELFARE FUND PORTION OF THESE EXPENSES IS 37% OF THE GROSS AMOUNTS DETAILED ON SCHEDULE J, PART II. VICTORIA PETERSON-MITCHELL RECEIVED COMPENSATION AND BENEFITS IN HER CAPACITY AS FUND ADMINISTRATOR OF THIS ENTITY AND THE RELATED PENSION AND ANNUITY FUNDS. COMPENSATION AND BENEFITS ARE PAID BY THE WELFARE FUND WITH REIMBURSEMENTS MADE ACCORDINGLY. THE WELFARE FUND PORTION OF THESE EXPENSES IS 43% OF THE GROSS AMOUNTS DETAILED ON SCHEDULE J, PART II. SUSAN DOMINGUEZ RECEIVES COMPENSATION AND BENEFITS IN HER CAPACITY AS SENIOR ANALYST OF THIS ENTITY AND THE RELATED PENSION AND ANNUITY FUNDS. COMPENSATION AND BENEFITS ARE PAID BY THE WELFARE FUND WITH REIMBURSEMENTS MADE ACCORDINGLY. THE WELFARE FUND PORTION OF THESE EXPENSES IS 37% OF THE GROSS AMOUNTS DETAILED ON SCHEDULE J, PART II. MARITZA PEREZ RECEIVED COMPENSATION AND BENEFITS IN HER CAPACITY AS EXECUTIVE ASSISTANT OF THIS ENTITY AND RELATED PENSION AND ANNUITY FUNDS, COMPENSATION AND BENEFITS ARE PAID BY THE WELFARE FUND WITH REIMBURSEMENTS MADE ACCORDINGLY. THE WELFARE FUND PORTION OF THESE EXPENSES IS 43% OF THE GROSS AMOUNTS DETAILED OF SCHEDULE J, PART II.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SEE SUPPLEMENTAL INFORMATION

Provenance

Return type
form_990
Tax year
2023
Filed
8 October 2024
IRS schema version
2023v5.1
Source object
202422829349301302

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