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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Local 580 Insurance Fund

Local 580 Insurance Fund

Fiscal year ending 2024. Filed on October 21, 2025.

501 West 42nd Street
New York, New York 10036

Local 580 Insurance Fund (EIN: 13-6178513) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2024 IRS Form 990 filing, Local 580 Insurance Fund, a 501(c)(9) voluntary employees' beneficiary association, reported compensation for 4 out of 23 total employees. Among the employees shown here, the average compensation is $306,558. The highest compensated employee at Local 580 Insurance Fund is Richard Falasca with fiscal year 2024 compensation of $347,427.

Revenue, expenses, and employee compensation

Revenue

$56,880,973

Expenses

$52,891,962

Employee compensation

$2,910,927
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Richard Falasca
Education Director
$347,427
$201,686 No related comp$145,741
Ryan Herbert
Director of Audits
$310,179
$182,337 No related comp$127,842
Brendan Tormey
Fund Administrator
$310,179
$182,337 No related comp$127,842
Thomas Lecompte
Controller
$258,445
$152,639 No related comp$105,806

Benchmark Employee Compensation

Non-Employee Board Members

Joseph Nolan
Union Trustee
Kevin McKeon
Union Trustee
Peter Carriero
Employer Trustee
Randall Ment
Employer Trustee
Randall Rifelli
Employer Trustee
Steven Donofrio
Union Trustee
Thomas Milton
Union Trustee

Contractors

Blue Cross Blue Shield
Med Claim Admin
$1,172,904
Joint Multi Service Associates Ltd.
Payroll Auditor
$348,000
Colleran O'hara & Mills LLP
Legal
$198,646
Jp Morgan Investment Mgmt
Investment Management
$179,287
Loomis Sayles Trust Company
Investment Management
$143,745

Mission Statement

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.

Revisions to this organization profile

October 21, 2025:
2024 Local 580 Insurance Fund 990 filed
October 11, 2024:
2023 Local 580 Insurance Fund 990 filed
November 6, 2023:
2022 Local 580 Insurance Fund 990 filed

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