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Local 580 Insurance Fund

Organization summary

Type of Nonprofit

Designated as a Voluntary employees' beneficiary associations, which provide payment of life, sickness, accident or other benefits to members.

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
$45.8M (2022)

Expenses
$55.3M (2022)

Total Assets
$322M (2022)

Total Liabilities
$20.5M (2022)

Source: Form 990 tax filings from 2011 to 2022

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$45,790,999
Expenses
$55,344,014
Net Income
-$9,553,015
Net Assets
$301,280,099
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $43,039,255
94.0%
Investment Income $7,786,197
17.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$5,036,240
Net Inventory Sales $0
Other Revenue $1,787
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $297,483
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $1,377,028
2.5%
Assets/Debt
Total Assets $321,828,797
Total Liabilities $20,548,698
Net Assets $301,280,099
Compensation
Key Employees and Officers Compensation Related Other
Richard Falasca (Director Of Education) $195,781 $0 $137,169
Brendan Tormey (Asst Administrator) $177,159 $0 $120,324
Thomas Lecompte (Controller) $176,596 $0 $120,324
Ryan Herbert (Director Of Audits) $173,129 $0 $120,324
Randall Ment (Employer Trustee) $0 $0 $0
Randall Rifelli (Employer Trustee) $0 $0 $0
Peter Carriero (Employer Trustee) $0 $0 $0
Peter Myers (Union Trustee) $0 $0 $0
Thomas Milton (Union Trustee) $0 $0 $0
Joseph Nolan (Union Trustee) $0 $0 $0
Joseph Maffei (Union Trustee) $0 $0 $0
Kevin Mckeon Eff 2022 (Union Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$70,279,432
Expenses
$51,542,209
Net Income
$18,737,223
Net Assets
$359,387,972
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $50,142,220
71.3%
Investment Income $6,534,592
9.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $13,573,302
19.3%
Net Inventory Sales $0
Other Revenue $29,318
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $851
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $289,854
0.6%
Assets/Debt
Total Assets $368,353,515
Total Liabilities $8,965,543
Net Assets $359,387,972
Compensation
Key Employees and Officers Compensation Related Other
Brendan Tormey (Asst Administrator) $47,173 $122,871 $111,366
Ryan Herbert (Director Of Audits) $47,092 $117,897 $111,366
Thomas Lecompte (Controller) $39,123 $100,612 $88,749
Kenneth Cody (Union Trustee (P)) $492 $1,203 $1,238
Thomas Milton (Union Trustee) $0 $150,756 $151,682
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Myers (Union Trustee) $0 $152,056 $151,682
Peter Carriero (Employer Trustee) $0 $0 $0
Michael Wenzel (Union Trustee (P)) $0 $6,450 $0
Joseph Nolan (Union Trustee) $0 $150,756 $151,682
Joseph Maffei (Union Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$52,048,894
Expenses
$39,673,342
Net Income
$12,375,552
Net Assets
$338,448,538
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $43,752,104
84.1%
Investment Income $6,571,531
12.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $1,712,675
3.3%
Net Inventory Sales $0
Other Revenue $12,584
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $298,508
0.8%
Assets/Debt
Total Assets $358,341,898
Total Liabilities $19,893,360
Net Assets $338,448,538
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Robert Maguire (Asst Administrator) $49,630 $116,916 $112,647
Mark Nardella (Controller) $47,011 $110,743 $113,085
Kenneth Cody (Union Trustee) $987 $0 $0
Thomas Milton (Union Trustee) $0 $153,059 $142,357
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Myers (Union Trustee) $0 $154,674 $142,357
Peter Carriero (Employer Trustee) $0 $0 $0
Michael Wenzel (Union Trustee) $0 $8,466 $426
Joseph Nolan (Union Trustee) $0 $150,784 $142,357

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$70,003,731
Expenses
$49,123,934
Net Income
$20,879,797
Net Assets
$308,250,703
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $57,385,785
82.0%
Investment Income $8,394,687
12.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $4,210,675
6.0%
Net Inventory Sales $0
Other Revenue $12,584
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $2,239
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $319,819
0.7%
Assets/Debt
Total Assets $330,501,791
Total Liabilities $22,251,088
Net Assets $308,250,703
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Mark Nardella (Controller) $50,156 $118,646 $109,617
Robert Maguire (Asst Administrator) $48,098 $113,797 $107,048
Michael W Wenzel (Director Of P/R Audits) $43,580 $102,661 $96,441
Kenneth Cody (Union Trustee) $1,398 $238 $1,153
Michael Wenzel (Union Trustee) $411 $6,491 $291
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Carriero (Co Chairman) $0 $0 $0
Peter Myers (Co Chairman) $0 $148,460 $135,234
Thomas Milton (Union Trustee) $0 $145,660 $135,234
Joseph Nolan (Union Trustee) $0 $146,110 $135,234

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$77,535,937
Expenses
$44,759,164
Net Income
$32,776,773
Net Assets
$265,009,879
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $63,833,922
82.3%
Investment Income $7,291,409
9.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $6,398,022
8.3%
Net Inventory Sales $0
Other Revenue $12,584
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,747
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $363,968
0.8%
Assets/Debt
Total Assets $286,814,270
Total Liabilities $21,804,391
Net Assets $265,009,879
Compensation
Key Employees and Officers Compensation Related Other
Patrick Doherty (Administrator) $53,341 $128,157 $108,743
Mark Nardella (Controller) $52,009 $122,917 $107,534
Robert Maguire (Asst Administrator) $48,793 $115,341 $104,715
Dennis Lusardi (Director Of P/R Audits) $33,955 $79,986 $78,293
Kenneth Cody (Union Trustee) $480 $1,130 $1,128
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Carriero (Co Chairman) $0 $0 $0
Peter Myers (Co Chairman) $0 $137,669 $128,341
Michael Wenzel (Union Trustee) $0 $5,200 $0
Thomas Milton (Union Trustee) $0 $137,669 $128,341
Joseph Nolan (Union Trustee) $0 $137,699 $128,341

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$66,943,007
Expenses
$39,889,986
Net Income
$27,053,021
Net Assets
$248,492,712
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $57,012,575
85.2%
Investment Income $6,431,403
9.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $3,486,445
5.2%
Net Inventory Sales $0
Other Revenue $12,584
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $2,708
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $354,185
0.9%
Assets/Debt
Total Assets $260,427,025
Total Liabilities $11,934,313
Net Assets $248,492,712
Compensation
Key Employees and Officers Compensation Related Other
Patrick Doherty (Administrator) $51,750 $121,908 $99,254
Mark Nardella (Controller) $50,606 $119,212 $102,006
Dennis Lusardi (Director Of P/R Audits) $48,874 $115,132 $99,254
Robert Maguire (Asst Administrator) $48,099 $113,307 $99,254
Kenneth Cody (Union Trustee) $1,981 $0 $364
Herbert Koenig (Co Chairman (P)) $0 $0 $0
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Carriero (Co Chairman) $0 $0 $0
Peter Myers (Co Chairman) $0 $145,120 $127,689
Michael Wenzel (Union Trustee) $0 $6,770 $0
Thomas Milton (Union Trustee) $0 $142,470 $127,689
Joseph Nolan (Union Trustee) $0 $142,620 $127,689

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$55,678,029
Expenses
$39,159,292
Net Income
$16,518,737
Net Assets
$215,731,689
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $50,781,255
91.2%
Investment Income $5,694,582
10.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$812,062
Net Inventory Sales $0
Other Revenue $14,254
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $3,433
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $370,923
0.9%
Assets/Debt
Total Assets $225,456,163
Total Liabilities $9,724,474
Net Assets $215,731,689
Compensation
Key Employees and Officers Compensation Related Other
Patrick Doherty (Administrator) $54,246 $118,074 $48,099
Mark Nardella (Controller) $52,714 $114,268 $49,136
Dennis Lusardi (Director Of P/R Audits) $50,548 $109,681 $48,099
Robert Maguire (Asst Administrator) $50,121 $108,762 $48,099
Kenneth Cody (Union Trustee) $1,942 $0 $304
Herbert Koenig (Co Chairman) $0 $0 $0
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Carriero (Employer Trustee) $0 $0 $0
Peter Myers (Co Chairman) $0 $140,757 $125,349
Michael Wenzel (Union Trustee) $0 $10,698 $752
Thomas Milton (Union Trustee) $0 $138,257 $125,349
Joseph Nolan (Union Trustee) $0 $138,407 $107,252

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$46,874,798
Expenses
$33,943,862
Net Income
$12,930,936
Net Assets
$193,863,592
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $42,175,185
90.0%
Investment Income $5,416,366
11.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$731,007
Net Inventory Sales $0
Other Revenue $14,254
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,862
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $394,543
1.2%
Assets/Debt
Total Assets $202,047,037
Total Liabilities $8,183,445
Net Assets $193,863,592
Compensation
Key Employees and Officers Compensation Related Other
Patrick Doherty (Administrator) $57,991 $114,395 $94,370
Mark Nardella (Controller) $55,775 $110,024 $95,813
Dennis Lusardi (Director Of P/R Audits) $53,262 $105,066 $94,370
Robert Maguire (Asst Administrator) $52,593 $103,748 $94,370
Kenneth Cody (Union Trustee) $1,524 $0 $750
Herbert Koenig (Co Chairman) $0 $0 $0
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Carriero (Employer Trustee) $0 $0 $0
Peter Myers (Co Chairman) $0 $138,305 $122,395
Michael Wenzel (Union Trustee) $0 $8,017 $254
Thomas Milton (Union Trustee) $0 $139,430 $122,395
Joseph Nolan (Union Trustee) $0 $139,430 $122,395

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$54,543,747
Expenses
$32,232,689
Net Income
$22,311,058
Net Assets
$188,536,629
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $38,621,574
70.8%
Investment Income $4,892,775
9.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $11,015,144
20.2%
Net Inventory Sales $0
Other Revenue $14,254
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $385,935
1.2%
Assets/Debt
Total Assets $194,823,913
Total Liabilities $6,287,284
Net Assets $188,536,629
Compensation
Key Employees and Officers Compensation Related Other
Patrick Doherty (Administrator) $55,822 $110,117 $115,706
Mark Nardella (Controller) $55,792 $110,057 $118,495
Dennis Lusardi (Director Of P/R Audits) $52,916 $104,385 $115,707
Robert Maguire (Asst Administrator) $52,337 $103,244 $115,706
Herbert Koenig (Co Chairman) $0 $0 $0
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Carriero (Employer Trustee) $0 $0 $0
Robert Benesh (Co Chairman) $0 $131,463 $116,176
Kenneth Cody (Union Trustee) $0 $0 $0
James Mahoney (Union Trustee) $0 $135,463 $116,176
Peter Myers (Union Trustee) $0 $132,664 $116,176
John Busch (Union Trustee (P)) $0 $0 $0
Michael Wenzel (Union Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$47,096,465
Expenses
$26,158,555
Net Income
$20,937,910
Net Assets
$171,692,548
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $38,342,574
81.4%
Investment Income $4,762,926
10.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $3,976,711
8.4%
Net Inventory Sales $0
Other Revenue $14,254
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $352,379
1.3%
Assets/Debt
Total Assets $176,346,377
Total Liabilities $4,653,829
Net Assets $171,692,548
Compensation
Key Employees and Officers Compensation Related Other
Mark Nardella (Controller) $55,219 $103,010 $87,013
Patrick Doherty (Administrator) $52,959 $104,471 $87,013
Dennis Lusardi (Director Of P/R Audits/Tru) $49,327 $105,902 $90,126
Robert Maguire (Asst Administrator/Trustee) $48,407 $95,491 $87,013
Herbert Koenig (Co Chairman) $0 $0 $0
Randall Rifelli (Employer Trustee) $0 $0 $0
Randall Ment (Employer Trustee) $0 $0 $0
Peter Carriero (Employer Trustee) $0 $0 $0
Robert Benesh (Co Chairman) $0 $128,304 $110,695
Kenneth Cody (Union Trustee) $0 $0 $0
James Mahoney (Union Trustee) $0 $131,704 $110,695
Peter Myers (Union Trustee) $0 $128,454 $110,695
John Busch (Union Trustee) $0 $17,722 $10,256

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$40,438,976
Expenses
$25,536,613
Net Income
$14,902,363
Net Assets
$148,003,221
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $34,892,046
86.3%
Investment Income $4,551,120
11.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $980,551
2.4%
Net Inventory Sales $0
Other Revenue $15,259
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $375,539
1.5%
Assets/Debt
Total Assets $154,148,733
Total Liabilities $6,145,512
Net Assets $148,003,221

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$36,348,452
Expenses
$25,067,090
Net Income
$11,281,362
Net Assets
$129,521,528
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $29,236,270
80.4%
Investment Income $4,391,847
12.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $2,707,365
7.4%
Net Inventory Sales $0
Other Revenue $12,970
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $367,889
1.5%
Assets/Debt
Total Assets $141,330,767
Total Liabilities $11,809,239
Net Assets $129,521,528

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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