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← IRON WORKERS LOCAL 549 & 550 MEDICAL & BENEFIT FUND

Form 990 for tax year 2022

Filed by IRON WORKERS LOCAL 549 & 550 MEDICAL & BENEFIT FUND.

Totals

Total revenue
$10,746,923
Total expenses
$9,892,207
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,580,408
Investment income
$166,515
Other revenue
$0
Total assets, end of year
$13,711,104
Total liabilities, end of year
$128,196
Net assets or fund balances, end of year
$13,582,908
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: EMPLOYER CONTRIBUTION

    total $9,641,589 · related or exempt $9,641,589

  • 2b · Program service revenue: RETIREE AND MEMBER SELF-PAY

    total $938,819 · related or exempt $938,819

  • 3 · Investment income

    total $166,515 · excluded $166,515

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $8,793,437

  • 11b · Fees: legal

    total $33,536

  • 11c · Fees: accounting

    total $32,500

  • 11f · Fees: investment management

    total $25,998

  • 11g · Fees: other

    total $944,732

  • 19 · Conferences, conventions and meetings

    total $2,314

  • 23 · Insurance

    total $12,553

  • 24a · Other expenses: BANK CHARGES AND OTHER

    total $24,303

  • 24b · Other expenses: SCREENING

    total $17,000

  • 24c · Other expenses: ACA TAXES & COSTS PCORI

    total $5,834

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,407,701 · end of year $3,799,347

  • 2 · Savings and temporary cash investments

    beginning of year $1,810,151 · end of year $2,178,693

  • 4 · Accounts receivable

    beginning of year $1,051,444 · end of year $873,601

  • 9 · Prepaid expenses and deferred charges

    beginning of year $75,066 · end of year $114,867

  • 11 · Investments: publicly traded securities

    beginning of year $6,910,105 · end of year $6,662,916

  • 15 · Other assets

    beginning of year $6,017 · end of year $81,680

  • 17 · Accounts payable and accrued expenses

    beginning of year $153,768 · end of year $128,196

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $13,106,716 · end of year $13,582,908

Mission and programs · 2022

Mission

THE TRUST FUND IS CREATED, ESTABLISHED AND MAINTAINED, (AND THE TRUSTEES AGREE TO RECEIVE, HOLD AND ADMINISTER), TO PROVIDE BENEFITS FOR MEMBERS AND THEIR BENEFICIARIES IN ACCORDANCE WITH THE PLAN DOCUMENT.

Activities or mission (Part I)

TO PROVIDE ACCIDENT, HOSPITAL, MEDICAL, SURGICAL, DISABILITY, DENTAL, PRESCRIPTION AND DEATH BENEFITS TO ELIGIBLE MEMBERS OF IRON WORKERS LOCALS 549 & 550 AND THEIR SPOUSES AND DEPENDENTS.

  • THE IRON WORKERS LOCALS 549 & 550 MEDICAL & BENEFIT PLAN IS A DEFINED BENEFIT HEALTH AND WELFARE PLAN THAT PROVIDES BENEFITS TO ELIGIBLE MEMBERS OF IRON WORKERS LOCALS 549 AND 550 WHO HAVE COMPLETED THE REQUIRED SERVICE HOURS FOR AN EMPLOYER WHO IS SUBJECT TO THE TERMS OF THE COLLECTIVE BARGAINING AGREEMENTS BETWEEN THE INTERNATIONAL ASSOCIATION OF BRIDGE, STRUCTURAL AND ORNAMENTAL IRONWORKERS LOCALS UNIONS 549 AND 550 AND THE OHIO VALLEY CONSTRUCTION EMPLOYERS COUNCIL INC AND THE STRUCTURAL CONTRACTORS AND INDEPENDENT EMPLOYERS ASSOCIATION OF CANTON OHIO. THE PLAN PROVIDES FOR ACCIDENT, HOSPITAL, MEDICAL, SURGICAL, DISABILITY, DENTAL, PRESCRIPTION AND DEATH BENEFITS COVERING APPROXIMATELY 919 ELIGIBLE MEMBERS AND THEIR SPOUSES AND DEPENDENTS.

As filed on the 2022 return.

Listed in Part VII

  • KEVIN COULTER

    CO-CHAIRMAN/EMPLOYEE TRUST

    Total calculated
    $194,973
    From this org
    $0
    From related orgs
    $110,537
    Other
    $84,436
    Hours/week
    0.5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $110,537 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $58,023 related
    Nontaxable benefits
    $0 + $26,413 related
    Filer's total
    $0 + $194,973 related

  • WILLIAM SHERER II

    CO-CHAIRMAN/EMPLOYEE TRUST

    Total calculated
    $161,594
    From this org
    $0
    From related orgs
    $91,135
    Other
    $70,459
    Hours/week
    0.5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $91,135 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $46,102 related
    Nontaxable benefits
    $0 + $24,357 related
    Filer's total
    $0 + $161,594 related

  • KELLY DIERKES

    EMPLOYEE TRUSTEE

    Total calculated
    $186,980
    From this org
    $0
    From related orgs
    $103,232
    Other
    $83,748
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $103,232 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $57,453 related
    Nontaxable benefits
    $0 + $26,295 related
    Filer's total
    $0 + $186,980 related

  • THERON HODGE

    EMPLOYEE TRUSTEE

    Total calculated
    $152,823
    From this org
    $0
    From related orgs
    $84,388
    Other
    $68,435
    Hours/week
    0.5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $84,388 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $44,078 related
    Nontaxable benefits
    $0 + $24,357 related
    Filer's total
    $0 + $152,823 related

  • SEAN DIEKMANN

    EMPLOYEE TRUSTEE

    Total calculated
    $2,110
    From this org
    $0
    From related orgs
    $2,110
    Other
    $0
    Hours/week
    0.5

  • GARY CRAFT

    EMPLOYEE TRUSTEE

    Total calculated
    $15,354
    From this org
    $0
    From related orgs
    $10,110
    Other
    $5,244
    Hours/week
    0.5

  • STEVE TERRY

    EMPLOYEE TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • TOM DULIN

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • THOMAS LISTON

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • GEOFF NICELY

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • JIM CHAPMAN

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • SCOTT ALLEMAN

    EMPLOYEE TRUSTEE

    Total calculated
    $938
    From this org
    $0
    From related orgs
    $938
    Other
    $0
    Hours/week
    0.5

  • STEVE CAFARO

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • LORI SCOTT

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ERIC STARKOWICZ

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
19 December 2023
IRS schema version
2022v5.0
Source object
202411309349303311

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