Unite Here National Retirement Fund in White Plains, New York (NY)

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Unite Here National Retirement Fund
Employer Identification Number (EIN)136130178
Name of OrganizationUnite Here National Retirement Fund
Address333 Westchester Avenue, White Plains, NY 10604
ActivitiesEmployee or member welfare association
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date05/1945
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2008
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$170,897,542
Amount of Income$268,665,421
Form 990 Revenue Amount$143,133,454
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Voluntary Employees Beneficiary Associations (Non-Government)



Amount of income in 2008: $268,665,421
This organization:  $268,665,421
Other organizations performing similar types of work:  $15,312,488

Assets in 2008: $170,897,542
This organization:  $170,897,542
Other organizations performing similar types of work:  $11,778,407

Expenses in 2006: $171,194,184
Unite Here National Retirement Fund:  $171,194,184
Other organizations performing similar types of work:  $9,675,875

Income to expenses ratio in 2006: 1.0
This organization:  1.0
Other organizations performing similar types of work:  1.0

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420052006
Total revenue$58,942,426$70,537,527$74,955,345$98,164,788$141,983,723$147,402,745$162,686,009
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0
Contributions to donor advised funds$0
Direct public support$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$55,398,297$67,592,165$72,788,116$94,843,118$133,446,473$140,214,039$155,090,169
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0
Dividends and interest from securities$2,015,605$2,246,153$1,485,717$2,419,168$4,317,302$3,564,253$3,282,740
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$577,098$552,359$681,512$902,502$1,664,128$3,578,653$3,812,220
Gross amount from sales of assets other than inventory$113,024,531$93,933,097$96,628,263$290,550,351$216,550,666$274,328,635$181,774,369
Less: cost or other basis and sales expenses$112,447,433$93,380,738$95,946,751$289,647,849$214,886,538$270,749,982$177,962,149
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$951,426$146,850$0$0$2,555,820$45,800$500,880
Total expenses$62,778,944$75,473,300$81,912,365$106,759,271$155,385,410$152,399,299$171,194,184
Program services$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$35,948,378$32,642,985$28,341,166$143,182,902$147,782,209$157,911,022$164,520,285
Excess or (deficit) for the year$-3,836,518$-4,935,773$-6,957,020$-8,594,483$-13,401,687$-4,996,554$-8,508,175
Net assets or fund balances at beginning of year$11,545,732$35,948,378$32,642,985$28,341,166$143,182,902$147,782,209$157,911,022
Other changes in net assets or fund balances$28,239,164$1,630,380$2,655,201$123,436,219$18,000,994$15,125,367$15,117,438
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$171,194,184$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$150,945,682
Compensation of current officers, directors, key employees, etc.$0$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$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$198,316$0$0$0
Legal fees$365,830$0$0$0
Supplies$912$0$0$0
Telephone$11,140$0$0$0
Postage and shipping$30,897$0$0$0
Occupancy$62,296$0$0$0
Equipment rental and maintenance$14,313$0$0$0
Printing and publications$39,429$0$0$0
Travel$42,732$0$0$0
Conferences, conventions, and meetings$3,979$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$763$0$0$0
Other expenses not covered above$19,477,895$0$0$0
Balance Sheets
2000200120022003200420052006
Total assets$49,760,462$49,933,458$45,342,934$184,947,376$182,791,172$196,593,795$207,078,770
Cash - non-interest-bearing$879,192$463,616$1,920,637$4,433,504$74,145$1,152,806$1,954,189
Savings and temporary cash investments$1,734,152$1,715,834$984,355$602,369$3,495,188$7,275,191$0
Accounts receivable less allowance for doubtful accounts$4,953,321$6,084,553$6,696,479$22,264,916$16,645,787$17,957,799$15,536,608
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$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
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$693,929$505,578$299,716$355,874$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0
Investments - publicly-traded securities$73,064,684
Investments - other securities$41,008,932$40,606,951$34,198,427$152,416,517$154,273,542$159,927,379$106,556,314
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Other assets, including program-related investments$490,936$556,926$1,243,320$4,874,196$8,302,510$10,280,620$9,966,975
Total liabilities$13,812,084$17,290,473$17,001,768$41,764,474$35,008,963$38,682,773$42,558,485
Accounts payable and accrued expenses$13,812,084$17,290,473$17,001,768$41,764,474$35,008,963$38,682,773$42,558,485
Grants payable$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0$0
Total liabilities and net assets/fund balances$49,760,462$49,933,458$45,342,934$184,947,376$182,791,172$196,593,795$207,078,770
Total net assets or fund balances$35,948,378$32,642,985$28,341,166$143,182,902$147,782,209$157,911,022$164,520,285
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420052006
Total revenue$58,942,426$70,537,527$74,955,345$98,164,788$141,983,723$147,402,745$162,686,009
Total revenue, gains, and other support per audited financial statements$58,189,538$70,410,142$73,675,317$99,711,431$143,418,385$146,657,755$171,783,794
Other expenses$-604,550$7,440$-1,050,632$1,765,786$1,967,515$-87,609$9,867,434
Net unrealized gains on investments$-604,550$7,440$-1,050,632$1,765,786$1,967,515$-87,609$9,867,434
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$148,338$134,825$229,396$219,143$532,853$657,381$769,649
Investment expenses$148,338$134,825$229,396$219,143$532,853$657,381$769,649
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420052006
Total expenses$62,778,944$75,473,300$81,912,365$106,759,271$155,386,410$152,399,298$171,194,184
Total expenses and losses per audited financial statements$62,630,606$75,338,475$81,682,969$106,540,128$154,853,557$151,741,917$170,424,535
Other revenue$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$148,338$134,825$229,396$219,143$532,853$657,381$769,649
Investment expenses$148,338$134,825$229,396$219,143$532,853$657,381$769,649
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings32
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?Yes
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?Yes
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, 20060
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$162,686,009
Program service revenue
Program service revenue 1000000$000$0$155,090,169
Program service revenue 2000000$000$0$0
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$000$0$0
Dividends and interest from securities000000$000$0$3,282,740
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$000$0$3,812,220
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$500,880
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
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 2006)
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 2006)
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
1999200020012002200320042005
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$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
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
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
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
1Ibm Corp Medical & Dental Benefits Plan Tr P924351 Chase Manhattan Plaza Flr 13, New York, NY 10005-1401NY1977-02$2,313,586,864
2Management-Ila Managed Healthcare Employee Benefits Tr, Spelman William M Et Al Ttee111 Broadway- 5th Floor, New York, NY 10006-1901NY1997-09$1,210,271,307
3Ibm Benefits Plan For Retired Employees1 Chase Pla 13th Flr, New York, NY 10005NY1988-01$1,135,638,345
4Pension Comm Joint Industry Board Of The Electrical Industry158-11 Harry Van Arsdale Jr Avenue, Flushing, NY 11365-3067NY1944-10$1,089,036,527
5Kraft Foods Inc Group Master Trust Veba I1 Chase Manhattan Plaza Flr 13, New York, NY 10005-1401NY1988-02$1,063,360,589
6United Technologies Corp Employees Benefit Plan Trust1 Chase Plaza 13th Fl, New York, NY 10005NY1979-11$776,895,674
7N Y C District Council Carpenters Welfare Fund395 Hudson St Fl 9, New York, NY 10014-7450NY1951-11$770,867,505
8American International Group Inc Comprehensive Med Expense Bnft Pln70 Pine St, New York, NY 10270-0002NY1982-06$669,779,457
9Building Service 32b-J Health Fund101 Ave Of The Americas 13th F, New York, NY 10013NY1978-05$658,325,602
10Medical Plan Of The Chase Manhattan BankBrooklyn, NY 11245NY$632,500,121
11Aftra Health Fund261 Madison Ave Fl 7, New York, NY 10016NY$593,891,890
121199-Seiu Greater New York Benefit Fund330 West 42nd Street, New York, NY 10036-6902NY1965-02$166,285,476
13Additional Security Benefits Plan Of The Electrical Industry158-11 Harry Van Arsdales Jr Ave, Flushing, NY 11365NY1970-01$166,230,721
14Assurant Inc Employee Benefits Trust1 Chase Manhattan Plz Fl 41, New York, NY 10005-1420NY1989-12$62,930,201
15Barnes & Noble Inc Employee Benefit Trust IWestbury, NY 11590NY$40,415,947
16Amalgamated Service & Allied Industries Insurance Fund275 7th Ave 15th Floor, New York, NY 10001-6708NY1958-01$35,509,690
17Bakery & Confectionery Workers Intl Union Of America-Welfare Fund-341-07 Crescent Street, Long Island City, NY 11101NY1958-09$21,352,307
18Amalgamated Cutter & Retail Food Store Employees Union Welfare Fund, Local 342166 East Jericho Tnpk, Mineola, NY 11501NY1957-11$18,359,763
19Automobile Transporters Welfare Fund Of New York141 Buffalo Street, Hamburg, NY 14075NY1974-05$18,253,416
20Bakery Drivers-550 Welfare Fund6 Tuxedo Ave, New Hyde Park, NY 11040NY1955-08$16,049,515
21Amalgamated Workers Union 88 Welfare Fund1587 Stewart Ave, Westbury, NY 11590NY1963-10$13,140,129
22Bakery Drivers 802 Welfare Fund2151 Marion Pl, North Baldwin, NY 11510NY1953-01$11,189,918
23Asbestos Workers-6 Health & Welfare Fund333 Westchester Avenue, White Plains, NY 10604NY1952-11$8,911,418
24Bausch & Lomb Postretirement VebaOne Bausch And Lomb Pl, Rochester, NY 14604NY1995-06$8,476,618
25American General Corporation Employee Benefits Trust70 Pine St, New York, NY 10270-0002NY1995-06$8,000,648
26American Guild Of Variety Artists Welfare Tr Fund363 7th Ave Fl 17, New York, NY 10001-3904NY1958-10$7,080,699
27Allied Welfare Fund2556 Arthur Kill Rd, Staten Island, NY 10309-1226NY1962-10$5,665,365
28Bakery Confectionary & Tobacco Wkrs Local 102 Cons Welfare Fund & Plan10815 Crossbay Blvd, Ozone Park, NY 11417-1520NY1962-10$5,399,514
29Amalgamated Insurance Fund- Social Insurance & Non-Retirement Funds333 Westchester Ave, White Plains, NY 10604-2910NY1944-01$672,501
301115 Legal Service & Benefits Fund761 Merrick Ave, Westbury, NY 11590-6608NY1994-11$55,604
Number of organizations performing similar types of work
Alaska5
Alabama13
Arkansas5
Arizona12
California213
Colorado20
Connecticut40
District of Columbia24
Delaware9
Florida35
Georgia46
Hawaii21
Iowa24
Idaho5
Illinois228
Indiana43
Kansas18
Kentucky23
Louisiana9
Massachusetts80
Maryland55
Maine4
Michigan95
Minnesota82
Missouri70
Mississippi5
Montana7
North Carolina47
North Dakota7
Nebraska12
New Hampshire6
New Jersey126
New Mexico2
Nevada19
New York323
Ohio120
Oklahoma13
Oregon39
Pennsylvania199
Rhode Island20
South Carolina7
South Dakota2
Tennessee41
Texas119
Utah16
Virginia31
Vermont1
Washington64
Wisconsin58
West Virginia11
Wyoming1
Total2,475

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