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Nonprofit · EIN 23-7428792

LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY

Tax-exempt · BOHEMIA, NY 11716

Financials

$1.3M$1.1M2023$1.3M$1.2M2024
Revenue Expenses · by fiscal year end
Financials of LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,266,688$1,161,483$105,205$3,389,347$248,125$3,141,222
December 31, 2023990$1,276,640$1,106,199$170,441$3,154,680$230,716$2,923,964
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$1,179,986
Investment income
$80,505
Net gain from sales of assets
$221
Other revenue
$6,197

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$488,589
Compensation of officers, directors and key employees
$230,909
Other salaries and wages
$163,274
Salaries, compensation and benefits (total)
$442,587
Professional fundraising fees
$0
Legal fees
$24,000
Accounting fees
$33,800
Occupancy
$25,200
Travel
$2,494
Depreciation
$15,625

Balance sheet and other

Total assets, start of year
$3,154,680
Total assets, end of year
$3,389,347
Total liabilities, end of year
$248,125
Net assets, end of year
$3,141,222
Land, buildings and equipment
$51,366
Publicly traded securities
$2,619,464
Gross receipts
$1,275,014
Employees
4
Volunteers
0
Year formed
1974
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.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
WILLIAM HENNESSEYTRUSTEE
Trustee or director
1$0$260,304$48,299
JAMES F MAZZARELLAFUND MANAGER
Key employee
39$192,264$15,000$39,145
990 for the year ended December 31, 2023: 2 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
WILLIAM HENNESSEYTRUSTEE
Trustee or director
1$0$260,303$49,739
JAMES F MAZZARELLAFUND ADMINISTRATOR
Key employee
39$190,667$0$22,500

Address and contacts

Address (IRS master file)
PO BOX 164, BOHEMIA, NY 11716-0164
Principal officer (990 for 2024)
WILLIAM HENNESSEY, 501 WILLIAM FLOYD PARKWAY, SHIRLEY, NY 11967
Signed the 990
WILLIAM HENNESSEY, TRUSTEE
Phone
(631) 395-0600
Return prepared by
CITRIN COOPERMAN ADVISORS LLC

Mission

CONTRIBUTIONS PROVIDE DENTAL, VISION, WELLNESS, ST DISABILITY, LEGAL SERVICES & LIFE INSURANCE BENEFITS FOR THEIR EMPLOYEES WHO ARE PARTICIPANTS IN THE FUND.

990 for the year ended December 31, 2024

Program accomplishments

  • CONTRIBUTIONS PROVIDE DENTAL, VISION, WELLNESS, ST DISABILITY, LEGAL SERVICES & LIFE INSURANCE BENEFITS FOR THEIR EMPLOYEES WHO ARE PARTICIPANTS IN THE FUND.

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
23-7428792
Tax-exempt status
501(c)(9): Voluntary employees' beneficiary association
Donations deductible
No
Exempt since
1977
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$3,389,347
Income (IRS master file)
$1,275,014

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,266,688$1,161,483$3,389,347XML
990December 2023$1,276,640$1,106,199$3,154,680XML
990December 2022$1,155,339$1,129,415$2,803,783IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 23-7428792).

Questions about LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY

What is the EIN of LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY?
The employer identification number (EIN) of LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY is 23-7428792.
Is LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(9) since 1977.
Are donations to LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY 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 342 INSURANCE TRUST C O GALVIN MURPHY 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 342 INSURANCE TRUST C O GALVIN MURPHY 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 342 INSURANCE TRUST C O GALVIN MURPHY?
The 990 for the year ended December 31, 2024 names WILLIAM HENNESSEY.
Who are the officers and directors of LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY?
The 990 for the year ended December 31, 2024 lists 2 people; 1 received compensation from the organization.
How much revenue does LOCAL 342 INSURANCE TRUST C O GALVIN MURPHY have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,266,688, expenses of $1,161,483 and total assets of $3,389,347 at year end.

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