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← PSC-CUNY WELFARE FUND

Form 990 for tax year 2022

Filed by PSC-CUNY WELFARE FUND.

Totals

Total revenue
$43,793,554
Total expenses
$46,896,065
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$43,388,002
Investment income
$37,740
Other revenue
$367,812
Total assets, end of year
$97,346,881
Total liabilities, end of year
$1,745,722
Net assets or fund balances, end of year
$95,601,159
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 CONTRIBUTIONS

    total $42,558,540 · related or exempt $42,558,540

  • 2b · Program service revenue: SURVIVOR CONTRIBUTIONS

    total $675,483 · related or exempt $675,483

  • 2c · Program service revenue: ADJUNCT FAMILY CO-PAY

    total $92,336 · related or exempt $92,336

  • 2d · Program service revenue: COBRA REIMBURSEMENTS

    total $61,643 · related or exempt $61,643

  • 3 · Investment income

    total $2,006,449 · excluded $2,006,449

  • 7a · Gross sales of assets other than inventory

    securities $23,860,347

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

    securities $25,829,056

  • 7c · Gain or loss

    securities -$1,968,709

  • 7d · Net gain or loss

    total -$1,968,709 · excluded -$1,968,709

  • 11a · Other revenue: REBATE ROYALTIES

    total $367,812 · related or exempt $367,812

  • 11e · Other revenue, total

    $367,812

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $43,290,807

  • 5 · Compensation of officers, directors and key employees

    total $295,454

  • 7 · Other salaries and wages

    total $1,149,704

  • 8 · Pension plan contributions

    total $281,256

  • 9 · Other employee benefits

    total $344,482

  • 10 · Payroll taxes

    total $100,677

  • 11b · Fees: legal

    total $104,151

  • 11c · Fees: accounting

    total $46,300

  • 11f · Fees: investment management

    total $132,647

  • 11g · Fees: other

    total $326,500

  • 13 · Office expenses

    total $206,709

  • 16 · Occupancy

    total $53,077

  • 17 · Travel

    total $206

  • 22 · Depreciation, depletion and amortization

    total $408,339

  • 23 · Insurance

    total $84,653

  • 24a · Other expenses: FEES MANDATED BY THE AF

    total $71,103

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,367,551 · end of year $2,637,431

  • 2 · Savings and temporary cash investments

    beginning of year $6,995,320 · end of year $4,397,032

  • 4 · Accounts receivable

    end of year $1,730,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $268,936 · end of year $213,135

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

    $557,207

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

    $158,462

  • 10c · Land, buildings and equipment, net

    beginning of year $543,781 · end of year $398,745

  • 11 · Investments: publicly traded securities

    beginning of year $76,531,608 · end of year $79,377,390

  • 15 · Other assets

    beginning of year $8,952,275 · end of year $8,593,148

  • 17 · Accounts payable and accrued expenses

    beginning of year $613,085 · end of year $713,755

  • 25 · Other liabilities

    beginning of year $1,675,795 · end of year $1,031,967

  • 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 $95,370,591 · end of year $95,601,159

Mission and programs · 2022

Mission

THROUGH COLLECTIVELY BARGAINED AGREEMENTS WITH THE CITY UNIVERSITY OF NEW YORK, THE FUND COLLECTS CONTRIBUTIONS AND PROVIDES HEALTH AND WELFARE BENEFITS FOR ALL QUALIFYING PLAN PARTICIPANTS.

Activities or mission (Part I)

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ALL QUALIFYING PLAN PARTICIPANTS.

  • THROUGH COLLECTIVELY BARGAINED AGREEMENTS WITH THE CITY UNIVERSITY OF NEW YORK, THE FUND COLLECTS CONTRIBUTIONS AND PROVIDES HEALTH AND WELFARE BENEFITS FOR ALL QUALIFYING PLAN PARTICIPANTS.

As filed on the 2022 return.

Listed in Part VII

  • JAMES DAVIS

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • MATTHEW MANFREDI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • NIVEDITA MAJUMDAR

    SECRETARY (PSC)

    Total calculated
    $0
    Hours/week
    1

  • SHARON PERSINGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVEN LONDON

    EXECUTIVE OFFICER

    Total calculated
    $25,833
    From this org
    $12,833
    From related orgs
    $13,000
    Other
    $0
    Hours/week
    10

  • TERRENCE MARTELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ZEE DEMPSTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DORIANNE GLORIA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • FELICIA WHARTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PENELOPE LEWIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BARBARA BOWEN

    TRUSTEE EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • DANIEL PINELLO

    SECRETARY

    Total calculated
    $12,858
    From this org
    $0
    From related orgs
    $12,858
    Other
    $0
    Hours/week
    1

  • DONNA COSTA

    EXECUTIVE DIRECTOR

    Total calculated
    $229,717
    From this org
    $190,989
    From related orgs
    $0
    Other
    $38,728
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,989
    Bonus
    $0
    Other
    $0
    Deferred
    $24,937
    Nontaxable benefits
    $13,791
    Filer's total
    $229,717

  • ROBERT CERMELE

    TREASURER

    Total calculated
    $26,907
    From this org
    $26,907
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • JOSE QUIJIJE

    EMPLOYEE

    Total calculated
    $180,917
    From this org
    $118,153
    From related orgs
    $0
    Other
    $62,764
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,153
    Bonus
    $0
    Other
    $0
    Deferred
    $15,427
    Nontaxable benefits
    $47,337
    Filer's total
    $180,917

  • GREG VAGELATOS

    ASSOCIATE DIRECTOR

    Total calculated
    $164,000
    From this org
    $145,060
    From related orgs
    $0
    Other
    $18,940
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,060
    Bonus
    $0
    Other
    $0
    Deferred
    $18,940
    Nontaxable benefits
    $0
    Filer's total
    $164,000

  • MAITE PEREZ

    PHARMACIST

    Total calculated
    $182,754
    From this org
    $119,778
    From related orgs
    $0
    Other
    $62,976
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,778
    Bonus
    $0
    Other
    $0
    Deferred
    $15,639
    Nontaxable benefits
    $47,337
    Filer's total
    $182,754

  • PATRICK SMITH

    COMMUNICATIONS DIRECTOR

    Total calculated
    $151,766
    From this org
    $112,297
    From related orgs
    $0
    Other
    $39,469
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,297
    Bonus
    $0
    Other
    $0
    Deferred
    $14,662
    Nontaxable benefits
    $24,807
    Filer's total
    $151,766

  • SANDRA ZACONETA

    EMPLOYEE

    Total calculated
    $178,043
    From this org
    $115,611
    From related orgs
    $0
    Other
    $62,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,611
    Bonus
    $0
    Other
    $0
    Deferred
    $15,095
    Nontaxable benefits
    $47,337
    Filer's total
    $178,043

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
27 March 2024
IRS schema version
2022v5.0
Source object
202410879349300406

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