Civic Intelligence

Royal Health Benefit Trust

EIN 83-6619242 • 501(c)9 • Brooklyn, NY

Profile

To maintain the assets of health and welfare benefit plans.

1000 Gates Avenue STE 5Brooklyn, NY 11221

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.65x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

88th percentile

0.32x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Source year 2025

Net Margin

61st percentile

11%

Higher net margin than 61% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)9 • $10M-$25M nonprofits • Source year 2025

Asset Growth

18th percentile

-11%

Faster asset growth than 18% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

26th percentile

-2.1%

Faster revenue growth than 26% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Down

$11,029,813

Down $1,372,373 (-11%) from 2024

Liabilities

Down

$7,145,295

Down $3,732,758 (-34%) from 2024

Net Assets

Up

$3,884,518

Up $2,360,385 (+155%) from 2024

Revenue

Down

$22,382,796

Down $484,397 (-2.1%) from 2024

Expenses

Up

$20,022,411

Up $202,052 (+1.0%) from 2024

Net Income

Down

$2,360,385

Down $686,449 (-23%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0-$5.0MAssets 2020: $988,737Liabilities 2020: $1,243,702Net Assets 2020: -$254,9652020Assets 2021: $1,617,498Liabilities 2021: $1,588,461Net Assets 2021: $29,0372021Assets 2022: $6,313,266Liabilities 2022: $7,217,959Net Assets 2022: -$904,6932022Assets 2023: $8,482,250Liabilities 2023: $10,004,951Net Assets 2023: -$1,522,7012023Assets 2024: $12,402,186Liabilities 2024: $10,878,053Net Assets 2024: $1,524,1332024Assets 2025: $11,029,813Liabilities 2025: $7,145,295Net Assets 2025: $3,884,5182025

Highlighted filing

2025

Assets$11,029,813
Liabilities$7,145,295
Net Assets$3,884,518

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MRevenue 2020: $3,684,184Expenses 2020: $3,939,149Net Income 2020: -$254,9652020Revenue 2021: $6,492,208Expenses 2021: $6,208,206Net Income 2021: $284,0022021Revenue 2022: $15,626,696Expenses 2022: $16,560,426Net Income 2022: -$933,7302022Revenue 2023: $2,787,541Expenses 2023: $1,802,127Net Income 2023: $985,4142023Revenue 2024: $22,867,193Expenses 2024: $19,820,359Net Income 2024: $3,046,8342024Revenue 2025: $22,382,796Expenses 2025: $20,022,411Net Income 2025: $2,360,3852025

Highlighted filing

2025

Revenue$22,382,796
Expenses$20,022,411
Net Income$2,360,385

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
May 1, 2024 to Apr 30, 2025
Signed
Feb 11, 2026
Return Version
2024v5.2
Gross Receipts
$22,382,796
Mission and Program Overview

Mission

To maintain the assets of health and welfare benefit plans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$11,984,398$9,987,689▼ $1,996,709
Cash and Non-Interest-Bearing Accounts$417,788$1,042,124▲ $624,336
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$12,402,186$11,029,813▼ $1,372,373
Other Assets Total-$0-
Liabilities
Other Liabilities$10,338,459$6,282,633▼ $4,055,826
Accounts Payable and Accrued Expenses$539,594$862,662▲ $323,068
Total Liabilities$10,878,053$7,145,295▼ $3,732,758
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,524,133$3,884,518▲ $2,360,385
Total Net Assets Fund Balance$1,524,133$3,884,518▲ $2,360,385
Total Liabilities and Net Assets / Fund Balance$12,402,186$11,029,813▼ $1,372,373
Compensation and Service Providers

Board Members and Trustees

NameTitle
Leopold FriedmanTrustee
Monica TerranoTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
UHP AdministratorsContract Admin1662 61st Street, Brooklyn, NY 11204$1,593,763
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$22,382,796
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$2,360,385
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,879,141
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$16,143,270
Insurance---$1,606,967
Fees for Services Accounting---$27,000
Other Expenses---$2,848
Total Functional Expenses$0$0$0$20,022,411
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Common ControlManagement FeeNo$602,286

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Benefit Claims Payable$6,282,633
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

The trustees have an owner - employee relationship.

Form 990, Part VI, Section A, Line 8B

Informal meetings (undocumented in official minutes) were held. There are no committees.

Form 990, Part VI, Section B, Line 11B

The Form 990 is prepared by an outside firm based on the information provided by Royal Health Benefits Trust and is reviewed by the board of trustees before filing.

Form 990, Part VI, Section B, Line 12C

Officers are required to disclose any potential conflict of interest. Failure to disclose a potential conflict of interest or engaging in a practice determined to be a conflict of interest may result in disciplinary action up to and including termination.

Form 990, Part VI, Section C, Line 19

This is an irc section 501(c)(9) voluntary employees beneficiary association which covers only elegible employees of the various participating companies. There is no solicitation of contributions or involvement of the general public. The organization's governing documents and financial statements are available to members of the veba upon written request to:royal health benefits trust1000 gates avenuebrooklyn, ny 11221

Filing and Contact Details

Filer

Filer Name
Royal Health Benefit Trust
EIN
83-6619242
Phone
7188527000
Address
1000 Gates Avenue STE 5, Brooklyn, NY 11221

Signing Officer

Name
Monica Terrano
Title
Trustee
Signed
2026-02-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leopold Friedman
Formed
2019
Legal Domicile
Ny
Voting Board Members
2
Independent Board Members
0
Employees
0

Preparer

Firm
Fasten Halberstam LLP
Address
40 Wall St Ste 3602, New York, NY 10005
Preparer
David I Stern CPA
Phone
2127518337
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1INFORMAL MEETINGS (UNDOCUMENTED IN OFFICIAL MINUTES) WERE HELD. THERE ARE NO COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Form 990 is prepared by an outside firm based on the information provided by Royal Health Benefits Trust and is reviewed by the board of trustees before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Officers are required to disclose any potential conflict of interest. Failure to disclose a potential conflict of interest or engaging in a practice determined to be a conflict of interest may result in disciplinary action up to and including termination.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THIS IS AN IRC SECTION 501(C)(9) VOLUNTARY EMPLOYEES BENEFICIARY ASSOCIATION WHICH COVERS ONLY ELEGIBLE EMPLOYEES OF THE VARIOUS PARTICIPATING COMPANIES. THERE IS NO SOLICITATION OF CONTRIBUTIONS OR INVOLVEMENT OF THE GENERAL PUBLIC. THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS OF THE VEBA UPON WRITTEN REQUEST TO:ROYAL HEALTH BENEFITS TRUST1000 GATES AVENUEBROOKLYN, NY 11221
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd30N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd31N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd32N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd33N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd34N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd35N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd36N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd37N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd38N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd39N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd40N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd41N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd42N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd43N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd44N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd45N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd46N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd47N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd48N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd49N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd50N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd51N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd52N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd53N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd54N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd55N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd56N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd57N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd58N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd59N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd60N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd61N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd62N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd63N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd64N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd65N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd66N/A
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd1false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd6false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd7false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd8false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd9false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd10false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd11false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd12false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd13false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd14false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd15false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd16false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd17false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd19false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd20false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd21false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd22false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd23false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd24false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd25false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd26false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd27false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd28false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd29false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd30false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd31false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd32false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd34false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd35false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd36false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd37false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd38false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd39false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd40false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd43false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd44false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd45false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd46false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd47false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd48false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd49false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd50false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd51false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd52false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd53false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd54false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd57false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd58false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd59false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd60false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd61false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd62false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd63false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd64false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd65false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd66false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd1false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd2false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd3false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd4false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd5false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd6false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd7false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd8false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd9false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd10false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd11false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd12false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd13false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd14false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd15false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd16false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd17false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd18false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd20false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd21false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd22false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd23false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd24false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd25false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd26false

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