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← WELFARE FUND HEAT AND FROST INSULATORS LOCAL 12

Form 990 for tax year 2023

Filed by WELFARE FUND HEAT AND FROST INSULATORS LOCAL 12.

Totals

Total revenue
$15,086,101
Total expenses
$16,705,322
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,645,759
Investment income
$355,342
Other revenue
$85,000
Total assets, end of year
$30,003,366
Total liabilities, end of year
$5,178,009
Net assets or fund balances, end of year
$24,825,357
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: EMPLOYERS' CONTRIB.

    total $10,500,331 · related or exempt $10,500,331

  • 2b · Program service revenue: PARTICIPANTS' CONTRIB.

    total $4,145,428 · related or exempt $4,145,428

  • 3 · Investment income

    total $279,294 · excluded $279,294

  • 7a · Gross sales of assets other than inventory

    securities $12,741,916

  • 7b · Less cost or other basis and sales expenses

    securities $12,665,868

  • 7c · Gain or loss

    securities $76,048

  • 7d · Net gain or loss

    total $76,048 · excluded $76,048

  • 11a · Other revenue: OTHER INCOME

    total $85,000 · related or exempt $85,000

  • 11e · Other revenue, total

    $85,000

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $15,932,695

  • 5 · Compensation of officers, directors and key employees

    total $122,623

  • 8 · Pension plan contributions

    total $1,853

  • 9 · Other employee benefits

    total $1,398

  • 10 · Payroll taxes

    total $6,987

  • 11a · Fees: management

    total $58,953

  • 11b · Fees: legal

    total $152,286

  • 11c · Fees: accounting

    total $242,455

  • 11f · Fees: investment management

    total $64,945

  • 11g · Fees: other

    total $255,472

  • 13 · Office expenses

    total $41,901

  • 14 · Information technology

    total $95,916

  • 16 · Occupancy

    total $46,383

  • 19 · Conferences, conventions and meetings

    total $26,254

  • 22 · Depreciation, depletion and amortization

    total $10,197

  • 23 · Insurance

    total $166,004

  • 24a · Other expenses: REIMB TO RELATED ORG

    total -$521,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,094,924 · end of year $4,137,421

  • 2 · Savings and temporary cash investments

    beginning of year $39,817 · end of year $2,029,799

  • 4 · Accounts receivable

    beginning of year $2,935,693 · end of year $3,994,730

  • 10a · Land, buildings and equipment: cost or other basis

    $112,204

  • 10b · Land, buildings and equipment: accumulated depreciation

    $81,613

  • 10c · Land, buildings and equipment, net

    beginning of year $40,788 · end of year $30,591

  • 11 · Investments: publicly traded securities

    beginning of year $9,296,933 · end of year $9,413,538

  • 12 · Investments: other securities

    beginning of year $8,850,691 · end of year $9,933,959

  • 15 · Other assets

    beginning of year $268,990 · end of year $463,328

  • 17 · Accounts payable and accrued expenses

    beginning of year $176,877 · end of year $124,789

  • 21 · Escrow or custodial account liability

    beginning of year $1,504,365 · end of year $1,293,369

  • 25 · Other liabilities

    beginning of year $4,146,126 · end of year $3,759,851

  • 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 $24,700,468 · end of year $24,825,357

Mission and programs · 2023

Mission

PLAN'S PURPOSE IS TO PROVIDE MEDICAL, VACATION, HRA AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

  • PLAN'S PURPOSE IS TO PROVIDE MEDICAL, VACATION, HRA AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

As filed on the 2023 return.

Listed in Part VII

  • Christopher Cook

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mark Bayala

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nicholas Grgas

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Stephen McCann

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Octavio Soares

    ALT UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Richard Budinich

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Donald Donnelly

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Al Duranti

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christopher Grando

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Timothy Hartnett

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Brian Aull

    ALT EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Magali Avila -Thru 523

    INTERIM FUND MANAGER

    Total calculated
    $122,623
    From this org
    $71,587
    From related orgs
    $0
    Other
    $51,036
    Hours/week
    16 + 19 related

  • John Jovic

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • SEE SCHEDULE R SUPPLEMENTAL INFORMATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SEE SCHEDULE R SUPPLEMENTAL INFORMATION

Provenance

Return type
form_990
Tax year
2023
Filed
11 October 2024
IRS schema version
2023v5.1
Source object
202402859349300330

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