Metro-I L A Fringe Benefits Fund in Rutherford, New Jersey (NJ)

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Metro-I L A Fringe Benefits Fund
Employer Identification Number (EIN)133050863
Name of OrganizationMetro-I L A Fringe Benefits Fund
Address301 Route 17 N 7th Floor, Rutherford, NJ 07070-2599
ActivitiesEmployee or member welfare association
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date07/1983
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
Assets$10,000,000 to $49,999,999
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$40,516,194
Amount of Income$60,201,624
Form 990 Revenue Amount$29,652,899
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Voluntary Employees Beneficiary Associations (Non-Government)


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Amount of income in 2010: $60,201,624
Metro-I L A Fringe Benefits Fund: 

 $60,201,624
Other organizations performing similar types of work: 

 $15,014,074

Assets in 2010: $40,516,194
Metro-I L A Fringe Benefits Fund: 

 $40,516,194
Other organizations performing similar types of work: 

 $11,402,929

Expenses in 2007: $24,447,396
Metro-I L A Fringe Benefits Fund: 

 $24,447,396
Other organizations performing similar types of work: 

 $9,889,885

Income to expenses ratio in 2007: 1.1
Metro-I L A Fringe Benefits Fund: 

 1.1
Other organizations performing similar types of work: 

 1.0

Number of employees in 2007: 10
Metro-I L A Fringe Benefits Fund: 

 10
Other organizations performing similar types of work: 

 7

Employees paid over $50,000 in 2007: 20.0%
This organization: 

 20.0%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$7,265,585$17,945,076$18,840,330$20,312,313$21,574,961$26,131,150$27,095,574$27,683,612
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$25,011,367$25,422,167
Membership dues and assessments$6,823,360$16,577,405$18,031,601$19,575,083$20,473,042$25,006,583$0$0
Interest on savings and temporary cash investments$103,642$147,058$78,791$178,737$179,471$122,939$723,086$685,107
Dividends and interest from securities$343,618$726,515$764,293$630,296$758,429$1,041,684$890,337$1,064,870
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-20,302$234,091$-88,498$-80,936$143,641$-42,408$-11,251$503,272
Gross amount from sales of assets other than inventory$28,826,285$81,885,230$5,727,197$3,616,135$27,512,789$32,549,604$20,950,597$27,932,610
Less: cost or other basis and sales expenses$28,846,587$81,651,139$5,815,695$3,697,071$27,369,148$32,592,012$20,961,848$27,429,338
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$15,267$260,007$54,143$9,133$20,378$2,352$482,035$8,196
Total expenses$6,465,888$15,241,256$17,062,973$20,563,868$21,186,546$23,585,083$24,105,626$24,447,396
Program services$0$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$5,188,411$21,383,759$23,403,935$23,599,114$23,996,479$26,334,828$42,296,019$46,709,517
Excess or (deficit) for the year$799,697$2,703,820$1,777,357$-251,555$388,415$2,546,067$2,989,948$3,236,216
Net assets or fund balances at beginning of year$4,054,846$5,188,411$21,383,759$23,403,935$23,599,114$23,996,479$26,334,828$42,296,019
Other changes in net assets or fund balances$333,868$13,491,528$242,819$446,734$8,950$-207,718$12,971,243$1,177,282
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$24,447,396$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$22,259,764
Compensation of current officers, directors, key employees, etc.$169,740$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$258,910$0$0$0
Pension plan contributions not included above$117,263$0$0$0
Employee benefits not included above$73,150$0$0$0
Payroll taxes$37,941$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$31,988$0$0$0
Legal fees$423,005$0$0$0
Supplies$0$0$0$0
Telephone$5,887$0$0$0
Postage and shipping$9,428$0$0$0
Occupancy$68,150$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$2,497$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$2,785$0$0$0
Other expenses not covered above$986,888$0$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$11,579,124$28,590,732$31,272,211$33,619,397$34,869,449$39,240,956$42,604,818$46,812,589
Cash - non-interest-bearing$561,196$1,363,772$3,471,710$3,603,429$4,232,029$0$0$0
Savings and temporary cash investments$2,144,588$3,949,028$1,167,606$2,713,497$900,570$8,401,155$5,846,670$5,752,739
Accounts receivable less allowance for doubtful accounts$1,381,280$3,641,950$4,883,146$4,729,534$4,593,200$5,296,245$4,771,692$5,214,463
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$473,342$265,133
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$8,003$75,751$38,686$9,187$92,062$26,701$12,833$5,686
Investments - publicly-traded securities$30,786,978$35,004,647
Investments - other securities$6,912,901$16,415,382$19,919,192$21,211,841$24,378,481$24,949,119$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$7,372$11,272$70,405$54,955$30,137$3,783$6,423$6,852
Other assets, including program-related investments$563,784$3,133,577$1,721,466$1,296,954$642,970$563,953$706,880$563,069
Total liabilities$6,390,713$7,206,973$7,868,276$10,020,283$10,872,970$12,906,128$308,799$103,072
Accounts payable and accrued expenses$6,378,660$7,079,244$7,575,040$10,020,283$10,813,682$12,714,816$170,295$86,387
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$16,102$17,442$10,567
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$12,053$127,729$293,236$0$59,288$175,210$121,062$6,118
Total liabilities and net assets/fund balances$11,579,124$28,590,732$31,272,211$33,619,397$34,869,449$39,240,956$42,604,818$46,812,589
Total net assets or fund balances$5,188,411$21,383,759$23,403,935$23,599,114$23,996,479$26,334,828$42,296,019$46,709,517
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$7,265,585$17,945,076$18,840,330$20,312,313$21,574,961$26,131,150$0$0
Total revenue, gains, and other support per audited financial statements$7,558,292$18,065,183$19,083,149$20,759,047$21,583,911$25,923,432$0$0
Other expenses$333,868$120,107$242,819$446,734$8,950$-207,718$0$0
Net unrealized gains on investments$333,868$120,107$242,819$446,734$8,950$-207,718$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$41,161$0$0$0$0$0$0$0
Investment expenses$41,161$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$6,465,888$15,241,256$17,062,973$20,563,868$21,186,546$23,585,083$0$0
Total expenses and losses per audited financial statements$5,946,201$14,654,243$16,495,788$18,227,977$20,339,084$22,059,200$0$0
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$519,687$587,013$567,185$2,335,891$847,462$1,525,883$0$0
Investment expenses$41,161$0$0$0$0$0$0$0
Other$478,526$587,013$567,185$2,335,891$847,462$1,525,883$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
14$52,120$20,150$5,400
18$71,740$20,330$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings4
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200610
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$2,253,249$25,430,363
Program service revenue
Program service revenue 1000000$000$0$25,302,532
Program service revenue 2000000$000$0$119,635
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$685,107$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,064,870$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$503,272$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$8,196
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Delta Dental Plan Of New Jersey1639 Rt 10, Parsippany, NJ 07054-4506NJ1971-11$636,839,877
2Automatic Data Processing Inc And Susidiaries Empl Welfare Bnft TrOne Adp Blvd Ms 433, Roseland, NJ 07068-1728NJ1988-02$252,333,886
3Marsh & Mclennan Companies Employer Funded Welfare Benefit Trust121 River Street, Hoboken, NJ 07030-5982NJ1982-10$248,464,067
4American Water Works Company Inc Post Retirement Medical Trust1025 Laurel Oak Rd, Voorhees, NJ 08043-3506NJ1995-06$182,983,056
5Prudential Welfare Benefits TrustNewark, NJ 07102NJ$160,007,486
6H&gl Welfare Fund700 Raymond Blvd, Newark, NJ 07105-2909NJ1952-11$128,133,371
7Roche Employee Welfare Benefits Tr340 Kingsland St, Nutley, NJ 07110-1199NJ1978-02$123,560,483
8New Jersey Carpenters Welfare FundPO BOX 7818, Edison, NJ 08818-7818NJ1958-04$119,355,806
9Operating Engineers Local 825 Welfare Fund65 Springfield Ave Ste 2, Springfield, NJ 07081-1308NJ1952-11$118,236,951
10Welfare & Pension Funds Of Local 464a Welfare Fund245 Paterson Avenue, Little Falls, NJ 07424-4629NJ1958-12$114,919,109
11Lucent Technologies Inc Postretirment Welfare Benefits Tru, St For Represented Employees600 Mountain Ave, Murray Hill, NJ 07974-2008NJ1998-11$114,880,118
12I B E W Local 98 Health & Welfare FundLocal, Mount Laurel, NJ 08054NJ1979-01$105,158,680
13Nbpa Nba Supplemental Bebefit Plan, Messer Theresa Ttee100 Plaza Drive, Secaucus, NJ 07094-3766NJ2005-10$104,132,513
14Teamsters Health & Welfare Fund Of Philadelphia & Vicinity6981 N Park Dr Ste 400, Pennsauken, NJ 08109-4207NJ1953-06$102,902,694
15United Food And Commercial Workers Local 152 Health And Welfare Fund27 Roland Ave Ste 300, Mount Laurel, NJ 08054-1038NJ1999-01$93,314,673
16Ufcw National Health And Welfare Fund, International Union Afl-Cio Clc66 Grand Avenue, Englewood, NJ 07631-3598NJ1976-08$93,201,597
17American Water Works Co Inc And Its Desgntd Subsid Affl Grp Insur Fund1025 Laurel Oak Rd, Voorhees, NJ 08043-3506NJ1989-08$91,166,520
18Chubb & Son Inc Group Medical Plan15 Mountainview Rd E090, Warren, NJ 07059-6711NJ$89,566,004
19Toys Are Us Health Benefits Plan Trust1 Geoffrey Way, Wayne, NJ 07470-2035NJ1988-10$85,165,688
20United Food & Comm Wkrs Union Local 1262 & Employers Welfare Fund1389 Broad St, Clifton, NJ 07013-4221NJ1970-11$84,151,484
21Engineers Union Welfare Fund-6814 Fairfield Pl, West Caldwell, NJ 07006-6207NJ1953-06$79,835,572
22International Brotherhood Of Electrical Workers, 0164 Local Joint Welfare Fund425 Eagle Rock Ave Ste 105, Roseland, NJ 07068-1717NJ1940-08$65,226,303
23Metro-I L A Fringe Benefits Fund301 Route 17 N 7th Floor, Rutherford, NJ 07070-2599NJ1983-07$60,201,624
24Ibew Local 102 Welfare FundPO BOX 1028, Trenton, NJ 08628-0230NJ1993-01$59,866,649
25Njbls Welfare Fund3218 Kennedy Blvd, Jersey City, NJ 07306-3416NJ1967-08$52,492,615
26Plumbers & Steamfitters Local 322 Health & Welfare FundPO BOX 169, Winslow, NJ 08095-0169NJ1958-06$39,565,817
27Local 147 Construction Workers Additional Security Benefits Fund36 Hopatchung Rd, Hopatcong, NJ 07843-1524NJ1985-02$39,180,897
28Furniture Brands Inc Medical Care TrustJersey City, NJ 07311NJ$37,605,562
29New York Life And Health & Life Benefit Tr169 Lackawanna Ave Nylim Center, Parsippany, NJ 07054NJ1995-08$34,655,533
30Merck & Co Inc Union Veba TrPO BOX 100, White Hse Sta, NJ 08889-0100NJ1993-04$33,982,802
Number of organizations performing similar types of work
Alaska4
Alabama13
Arkansas6
Arizona17
California218
Colorado19
Connecticut40
District of Columbia25
Delaware7
Florida37
Georgia45
Hawaii20
Iowa24
Idaho5
Illinois226
Indiana45
Kansas19
Kentucky23
Louisiana10
Massachusetts80
Maryland58
Maine5
Michigan96
Minnesota81
Missouri74
Mississippi6
Montana7
North Carolina49
North Dakota6
Nebraska12
New Hampshire5
New Jersey127
New Mexico3
Nevada18
New York328
Ohio134
Oklahoma12
Oregon40
Pennsylvania205
Rhode Island19
South Carolina7
South Dakota2
Tennessee44
Texas107
Utah15
Virginia28
Vermont1
Washington66
Wisconsin62
West Virginia9
Wyoming1
International1
Total2,511

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