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DERRICKMEN'S WELFARE FUND LOCAL 197
NEW YORK CITY, NY · EIN 136121369 · Form 990 · FY2024 · Medium ($1M-$10M)
revenue
$3.8M
expenses
$4.7M
net assets
$2.9M
employees
0
mission · from form 990

TO PROVIDE MEDICAL, VACATION, DEATH BENEFITS, PRESCRIPTION DRUG,OPTICAL, DENTAL, DISABILITY AND PAID FAMILY LEAVE TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

profile · synthesized from sources

DERRICKMEN'S WELFARE FUND LOCAL 197 is a New York-based benefit fund providing medical, dental, optical, prescription drug, disability, paid family leave, vacation, and death benefits to eligible participants and their dependents. The organization serves union-affiliated workers and their families, primarily operating within New York State. It functions as a trust fund administering health and welfare benefits under collective bargaining agreements.

named programs · 3 · from sources

What they call their work

Disability and Paid Family Leave
Offers disability benefits and paid family leave protections to covered workers
Medical and Health Benefits
Provides comprehensive medical coverage including prescription drugs, optical, and dental services to eligible participants and dependents
Vacation and Death Benefits
Administers vacation payouts and death benefit payments to eligible members and beneficiaries
activities · 1 group

What they do

  • Union and Association Benefit Funds 1 activity
    • Provides health and welfare benefits to union members and dependents
      Offers medical, prescription drug, optical, dental, disability, paid family leave, vacation, and death benefits to eligible participants and their dependents through a trust fund administered by the organization.
financials · form 990 · fy2024
revenue
Total revenue$3.83M
Contributions & grants$00%
Program service revenue$3.48M91%
Investment income$347K9%
Other revenue$0
expenses
Total expenses$4.66M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$3.74M
Cash$1.08M
Investments$1.98M
Liabilities$888K
Net assets$2.85M
Liquid reserves7.9 mo
5 years on record · 2020–2024 · YoY revenue -24.0%
leadership · form 990 part vii · fy2024

Who runs it

board members · 6
  • ANTHONY VESPA — EMPLOYER TRUSTEE
  • CAROLE RAFTREY — UNION TRUSTEE
  • DAVID CARRUA — UNION TRUSTEE
  • MARCO BERARDI — EMPLOYER TRUSTEE
  • ROBERT WEISS — EMPLOYER TRUSTEE
  • WILLIAM HAYES — UNION TRUSTEE