Nonprofit · EIN 11-1967404
LOCAL 298 HEALTH BENEFIT FUND I
Tax-exempt · VALLEY STREAM, NY 11580
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $49,412,562 | $51,961,668 | -$2,549,106 | $23,359,227 | $1,873,739 | $21,485,488 |
| December 31, 2023 | 990 | $41,553,621 | $39,684,890 | $1,868,731 | $23,094,575 | $7,659,001 | $15,435,574 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $48,275,736
- Investment income
- $951,237
- Net gain from sales of assets
- $85,988
- Other revenue
- $185,589
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $50,971,947
- Compensation of officers, directors and key employees
- $256,639
- Other salaries and wages
- $270,643
- Salaries, compensation and benefits (total)
- $654,516
- Professional fundraising fees
- $0
- Legal fees
- $46,480
- Accounting fees
- $37,200
- Occupancy
- $29,252
Balance sheet and other
- Total assets, start of year
- $23,094,575
- Total assets, end of year
- $23,359,227
- Total liabilities, end of year
- $1,873,739
- Net assets, end of year
- $21,485,488
- Publicly traded securities
- $20,335,141
- Gross receipts
- $54,042,861
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1955
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH GIOVINCO JR | FUND MANAGER Officer | 27 | $0 | $176,008 |
| VICTOR LAGRECA | UNION TRUSTEE/UNION OFFICER Trustee or director | 2 | $0 | $80,631 |
| RALPH MASCOLO | EMPLOYER TRUSTEE Trustee or director | 0.5 | $0 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VICTOR LAGRECA | TRUSTEE/ UNION OFFICER Trustee or director | 2 | $0 |
| RALPH MASCOLO | TRUSTEE Trustee or director | 0.5 | $0 |
| JOSEPH GIOVINCO JR | FUND MANAGER Officer | 27 | $0 |
Address and contacts
- Address (IRS master file)
- 420 W MERRICK RD, VALLEY STREAM, NY 11580-5222
- In care of
- % LOCAL 298 HEALTH BENEFIT FURD 1
- Principal officer (990 for 2024)
- JOSEPH GIOVINCO, 420 WEST MERRICK ROAD, VALLEY STREAM, NY 11580
- Signed the 990
- JOSEPH GIOVINCO, FUND MANAGER
- Phone
- (516) 872-6690
- Return prepared by
- NOVAK FRANCELLA LLC
Mission
TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS.
Program accomplishments
- TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 11-1967404
- Tax-exempt status
- 501(c)(9): Voluntary employees' beneficiary association
- Donations deductible
- No
- Exempt since
- 1959
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $23,359,227
- Income (IRS master file)
- $54,042,861
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $49,412,562 | $51,961,668 | $23,359,227 | IRS |
| 990 | December 2023 | $41,553,621 | $39,684,890 | $23,094,575 | XML |
| 990 | December 2022 | $25,395,807 | $27,791,541 | $19,412,373 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 11-1967404).
Questions about LOCAL 298 HEALTH BENEFIT FUND I
- What is the EIN of LOCAL 298 HEALTH BENEFIT FUND I?
- The employer identification number (EIN) of LOCAL 298 HEALTH BENEFIT FUND I is 11-1967404.
- Is LOCAL 298 HEALTH BENEFIT FUND I tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(9) since 1959.
- Are donations to LOCAL 298 HEALTH BENEFIT FUND I tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does LOCAL 298 HEALTH BENEFIT FUND I file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LOCAL 298 HEALTH BENEFIT FUND I due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LOCAL 298 HEALTH BENEFIT FUND I last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LOCAL 298 HEALTH BENEFIT FUND I?
- The 990 for the year ended December 31, 2024 names JOSEPH GIOVINCO.
- Who are the officers and directors of LOCAL 298 HEALTH BENEFIT FUND I?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does LOCAL 298 HEALTH BENEFIT FUND I have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $49,412,562, expenses of $51,961,668 and total assets of $23,359,227 at year end.
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