Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: CONTRIBUTION FROM NYC

  total $53,095,732 · related or exempt $53,095,732

• 2b · Program service revenue: MEDICARE DRUG SUBSIDY

  total $5,619,703 · related or exempt $5,619,703

• 2c · Program service revenue: COBRA PREMIUM COLLECTED

  total $434,751 · related or exempt $434,751

• 3 · Investment income

  total $6,789,935 · excluded $6,789,935

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $99 · excluded $99

• 11e · Other revenue, total

  $99

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $40,250,966

• 5 · Compensation of officers, directors and key employees

  total $147,600

• 7 · Other salaries and wages

  total $1,140,892

• 8 · Pension plan contributions

  total $95,245

• 9 · Other employee benefits

  total $617,068

• 10 · Payroll taxes

  total $98,641

• 11a · Fees: management

  total $2,017

• 11b · Fees: legal

  total $21,929

• 11c · Fees: accounting

  total $59,938

• 11g · Fees: other

  total $128,159

• 13 · Office expenses

  total $74,925

• 14 · Information technology

  total $120,268

• 16 · Occupancy

  total $354,948

• 23 · Insurance

  total $55,681

• 24a · Other expenses: BENEFIT ADMIN. EXPENSE

  total $647,690

• 24b · Other expenses: SUBSCRIPTION FEE

  total $755

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,250,014 · end of year $3,694,887

• 2 · Savings and temporary cash investments

  beginning of year $30,299,191 · end of year $34,182,666

• 9 · Prepaid expenses and deferred charges

  beginning of year $82,393 · end of year $64,263

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

  $3,717

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

  $3,717

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $140,868,558 · end of year $149,040,079

• 15 · Other assets

  beginning of year $43,113,575 · end of year $55,255,865

• 17 · Accounts payable and accrued expenses

  beginning of year $2,129,699 · end of year $2,626,274

• 25 · Other liabilities

  beginning of year $1,837 · end of year $140,733

• 29 · Capital stock, trust principal or current funds

  beginning of year $214,482,195 · end of year $239,470,753

• 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 $0 · end of year $0

The filer's explanations (Part III)

PART I, LINE 3

THE RETIREE HEALTH & WELFARE FUND OF THE POLICE BENEVOLENT ASSOCIATION OF THE CITY OF NEW YORK ("RETIREE FUND") DOES NOT HAVE ITS OWN EMPLOYEES; HOWEVER, A PORTION OF EMPLOYEE RELATED EXPENSES IS ALLOCATED FROM THE HEALTH AND WELFARE FUND OF THE POLICE BENEVOLENT ASSOCIATION OF THE CITY OF NEW YORK TO RETIREE FUND. THEREFORE, ALL W2S ARE ISSUED THROUGH THE HEALTH AND WELFARE FUND OF THE POLICE BENEVOLENT ASSOCIATION OF THE CITY OF NEW YORK. EACH YEAR THE BOARD APPROVES THE SALARIES OF ALL EMPLOYEES OF THE ORGANIZATION. THE APPROVAL PROCESS INCLUDES A DISCUSSION OF PERFORMANCE AND REVIEW OF SALARIES FOR COMPARABLE POSITIONS IN COMPARABLE ORGANIZATIONS. SALARY ADJUSTMENTS ARE DIRECTED BY THE BOARD.