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NYC DISTRICT COUNCIL OF CARPENTERS WELFARE FUND

NEW YORK, NY · EIN 135615576 · Form 990 · FY2024 · Very Large (>$50M) · nyccbf.org
revenue
$464.4M
expenses
$506.0M
net assets
$699.2M
employees
98
mission · from form 990

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.

profile · synthesized from sources

Health and welfare benefits plan serving carpenters and their families in the New York City area. Provides medical, prescription, dental, vision, and paid family leave benefits to union-affiliated workers. Operates under federal and state regulations including HIPAA and ERISA, with governance by a board of trustees.

named programs · 6 · from sources

What they call their work

Annuity Fund
Provides supplemental retirement benefits to members who have left covered employment.
Cancer Screening Campaign
"This Is Not A Drill" campaign promoting early detection of colorectal and other cancers among members and dependents.
Charles Johnson Jr. Memorial Scholarship
Annual scholarship program for children and dependents of union carpenters.
MEND Program
Member Education and Network for Dependency offers mental health support and resources during Mental Health Awareness Month.
Pension Fund
Provides retirement income benefits to eligible carpenters based on years of service and contributions from employers.
Welfare Fund
Provides medical, dental, vision, prescription drug coverage, and paid family leave benefits to active and retired carpenters and their dependents.
activities · 4 groups

What they do

  • Union and Association Benefit Funds 3 activities
    • Administers retirement and pension benefits under ERISA compliance
      Administers defined monthly pension benefits to retirees and beneficiaries through a fund with approximately $5 billion in assets, and maintains a defined contribution annuity fund with approximately $3 billion in assets, all in compliance with ERISA standards.
    • Ensures non-discriminatory health coverage practices
      Prohibits discrimination in health coverage based on health factors and applies standardized rules for preexisting conditions, including exclusion periods and look-back periods, while exempting pregnancy, genetic information, and certain children from exclusions.
    • Provides health benefits including cancer screenings and prescription drug coverage
      Offers free cancer screenings and a prescription drug benefit emphasizing cost savings through generic medications and 90-day supplies to eligible members and dependents. Provides no-cost in-network cancer screenings based on clinical guidelines and a digital tool for personalized screening recommendations.
  • Union-Affiliated Trade Apprenticeship & Training 1 activity
    • Delivers apprenticeship and training programs for carpenters
      Operates the Carpenters Training Center to provide apprenticeship and journeymen training programs for construction workers, supporting workforce development and skill advancement.
  • Organized Member Social Events 1 activity
    • Hosts member engagement and benefits outreach events
      Organizes annual events such as a picnic, charity softball tournament, and benefits fair to engage members and families and promote awareness of available benefits.
  • Local High School Scholarship Programs 1 activity
    • Offers scholarship programs for members and their families
      Hosts events to recognize recipients of the Charles Johnson Jr. Memorial Scholarship, indicating an ongoing scholarship program for members and their families.
financials · form 990 · fy2024
revenue
Total revenue$464.37M
Contributions & grants$00%
Program service revenue$424.52M91%
Investment income$39.72M9%
Other revenue$133K
expenses
Total expenses$505.97M
Program expenses
Admin / overhead
Fundraising
Salaries & benefits$6.89M
Grants paid out$348K
Largest expense lineCompensation
balance sheet
Total assets$851.28M
Cash$8.39M
Investments$778.49M
Liabilities$152.04M
Net assets$699.24M
Liquid reserves18.7 mo
6 years on record · 2019–2024 · YoY revenue +11.6%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 7
NameTitleHours/wkCompensation
KRISTIN O'BRIEN FOWLKES EXECUTIVE DIRECTOR 19 $370K
ANGELA L MASSA DIRECTOR OF FINANCE & INV 19 $288K
DAVID JACOBSEN CONTROLLER 19 $266K
BENJAMIN J LAMBERT IT DIRECTOR 19 $237K
THERESA M IANNIZZI-RIERA DIRECTOR OF ADMIN SERVICES 19 $213K
FRANCES C CONSIDINE WELFARE FUND DIRECTOR 19 $213K
EDMOND OSHANANI TECHNICAL PROJECT MANAGER 19 $196K
board members · 14
  • ADAM HARKIN — UNION TRUSTEE
  • ANTHONY MADAIO - EFF 125 — UNION TRUSTEE
  • DAVID CARABALLOSO — UNION TRUSTEE
  • DAVID T MEBERG — EMP TRUSTEE - CO-CHAIRMAN
  • JOHN DELOLLIS — EMP TRUSTEE
  • JOHN O'HARE — EMP TRUSTEE
  • JOHN SHEEHY - THRU 125 — UNION TRUSTEE
  • JOSEPH A GEIGER — UNION TRUSTEE
  • KEVIN O'CALLAGHAN — EMP TRUSTEE
  • MICHAEL CAVANAUGH - THRU 125 — UNION TRUSTEE
  • MICHAEL PICCIRILLO - EFF 125 — UNION TRUSTEE
  • MICHAEL SALGO — EMP TRUSTEE
  • PAUL CAPURSO — UNION TRUSTEE - CO-CHAIRMAN
  • ROBERT WESSELS — EMP TRUSTEE
relationships · 14

Who they work with

  • Abacus Partner — Partnered with Abacus to conduct annual pension verification for retirees and beneficiaries.
  • Carpenters Training Center Partner — Partner organization providing training resources for carpenters.
  • Empower Retirement Partner — Manages the NYCDCC Annuity Fund on behalf of members.
  • Independence Administrators Partner — Partner provider offering cancer screening services to fund participants.
  • Memorial Sloan Kettering Partner — Collaborates on cancer screening guidelines and provides access to screening services for members.
  • National Association of Insurance Commissioners Government — Referenced as a resource for understanding state insurance laws related to health coverage protections.
  • New York City District Council of Carpenters Network — Member organization linked through shared branding and website resources.
  • Our Local Unions Network — Network of affiliated local unions representing carpenters in the New York City area.
  • Pension Benefit Guaranty Corporation Government — Federally chartered corporation that guarantees certain benefits if the defined plan is terminated.
  • Social Security Administration Government — Government agency linked for compliance and benefit coordination purposes.
  • U.S. Department of Health and Human Services, Office for Civil Rights Government — Entity with which individuals can file civil rights complaints regarding the Welfare Fund.
  • UBC Government — Requires members to provide a UBC number, indicating an affiliation with the United Brotherhood of Carpenters.
  • US Department of Labor Government — Source of regulatory guidance on ERISA compliance for the fund's pension plan.
  • UnitedHealthcare Partner — Provides cancer screening services to retired participants in the fund.
strategies · 4

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.