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← IRON WORKERS-8 WELFARE FUND

Form 990 for tax year 2023

Filed by IRON WORKERS-8 WELFARE FUND.

Totals

Total revenue
$21,162,693
Total expenses
$20,119,636
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$18,668,496
Investment income
$2,115,136
Other revenue
$379,061
Total assets, end of year
$51,246,387
Total liabilities, end of year
$2,862,754
Net assets or fund balances, end of year
$48,383,633
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. NET

    total $15,579,360 · related or exempt $15,579,360

  • 2b · Program service revenue: SELF-PAYMENT CONTRIB.

    total $3,089,136 · related or exempt $3,089,136

  • 3 · Investment income

    total $1,195,284 · excluded $1,195,284

  • 7a · Gross sales of assets other than inventory

    securities $1,693,088

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

    securities $773,236

  • 7c · Gain or loss

    securities $919,852

  • 7d · Net gain or loss

    total $919,852 · excluded $919,852

  • 11a · Other revenue: STOP-LOSS RECOVERIES

    total $379,061 · related or exempt $379,061

  • 11e · Other revenue, total

    $379,061

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $17,436,627

  • 11a · Fees: management

    total $425,027

  • 11b · Fees: legal

    total $166,727

  • 11c · Fees: accounting

    total $28,560

  • 11f · Fees: investment management

    total $92,206

  • 11g · Fees: other

    total $133,693

  • 13 · Office expenses

    total $68,208

  • 19 · Conferences, conventions and meetings

    total $2,565

  • 23 · Insurance

    total $11,568

  • 24a · Other expenses: FUTURE BENEFIT PROGRAM

    total $969,348

  • 24b · Other expenses: COST CONTAINMENT EXPENS

    total $649,746

  • 24c · Other expenses: LIFE, ACCIDENTAL DEATH

    total $71,997

  • 24d · Other expenses: EMPLOYEE ASSISTANCE PRO

    total $34,006

  • 24e · All other expenses

    total $29,358

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,376,641 · end of year $3,208,411

  • 2 · Savings and temporary cash investments

    beginning of year $478,556 · end of year $933,827

  • 4 · Accounts receivable

    beginning of year $1,517,430 · end of year $1,989,197

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,646 · end of year $116,484

  • 11 · Investments: publicly traded securities

    beginning of year $30,550,870 · end of year $33,712,603

  • 12 · Investments: other securities

    beginning of year $11,224,220 · end of year $11,285,865

  • 17 · Accounts payable and accrued expenses

    beginning of year $136,481 · end of year $185,411

  • 25 · Other liabilities

    beginning of year $2,331,729 · end of year $2,677,343

  • 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 $44,731,153 · end of year $48,383,633

Mission and programs · 2023

Mission

TO PROVIDE ACCIDENT, HEALTH, DENTAL, VISION, LOSS OF TIME, PRESCRIPTION DRUG, AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS, SPOUSES AND DEPENDENTS.

Activities or mission (Part I)

TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS.

  • TO PROVIDE ACCIDENT, HEALTH, DENTAL, VISION, LOSS OF TIME, PRESCRIPTION DRUG, AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS, SPOUSES AND DEPENDENTS.

As filed on the 2023 return.

Listed in Part VII

  • Mike Henke

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.25
  • Tim Roman

    TRUSTEE

    Total calculated
    $199,917
    From this org
    $0
    From related orgs
    $108,338
    Other
    $91,579
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $108,338 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $65,687 related
    Nontaxable benefits
    $0 + $25,892 related
    Filer's total
    $0 + $199,917 related
  • Brian McCambridge

    TRUSTEE

    Total calculated
    $200,142
    From this org
    $0
    From related orgs
    $108,563
    Other
    $91,579
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $108,563 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $65,687 related
    Nontaxable benefits
    $0 + $25,892 related
    Filer's total
    $0 + $200,142 related
  • Marc Lauret

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25
  • Pete Klosterman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25
  • Matt Marcellis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25
  • Charlie Falkner

    SECRETARY/TREASURER

    Total calculated
    $218,709
    From this org
    $0
    From related orgs
    $121,616
    Other
    $97,093
    Hours/week
    0.25 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $121,616 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $71,853 related
    Nontaxable benefits
    $0 + $25,240 related
    Filer's total
    $0 + $218,709 related
  • John Rauch

    TRUSTEE

    Total calculated
    $11,311
    From this org
    $0
    From related orgs
    $7,593
    Other
    $3,718
    Hours/week
    0.25 + 2 related

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

The filer's explanations (Part III)

PART I, LINE 3
THE RELATED ORGANIZATOIN'S OFFICERS' WAGES ARE SET IN THE LOCALS BYLAWS BASED ON A SET NUMBER OF HOURS FOR THE GENERAL FOREMAN AND SALARIES INCREASE WITH THE WAGE SCALE.

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.

  • BOARD OF TRUSTEES OF IRON WORKERS LOCAL 8 WELFARE FUND

    501(C)(9) · SPONSORING ORGANIZATION (JOINT BOARD OF TRUSTEES) · WI

  • BRIDGE STRUCTURAL ORNAMENTAL AND REINFORCING IRON WORKERS LOCAL #8

  • IRON WORKERS LOCAL 8 JOINT APPRENTICESHIP TRAINING COMPANY

  • IRON WORKERS LOCAL 8 DEFENSE FUND

  • MICHIGAN BUILDING & CONSTRUCTION TRADES COUNCIL

  • JOINT APPR & TRAINING FUND

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.

  • RIDGWAY LLC

  • AGM ERECTING LLC

  • IRONWORX LLC

  • KRAEMER NORTH AMERICA LLC

  • MEDICAL SUPPORT SYSTEMS LLC

  • HARRIS REBAR PLACING LLC

  • KOKOSING ALBERICI LLC

Related corporations and trusts

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

  • A LINDBERG & SONS INC

  • A & A ERECTING COMPANY INC

  • AREA ERECTORS INC

  • ARS CONTRACTING INC

  • AZCO INC

  • B & D CONTRACTORS INC

  • BADGERLAND METAL BUILDING ERECTORS

  • BANE NELSON INC

  • BARNHART CRANE & RIGGING CO

  • BEE STEEL INC

  • BESON & HOULE LLC

  • BEST ERECTORS INC

  • C R MEYER & SONS COMPANY

  • CALLOWAY ARCHITECTURAL SALVAGE

  • CAPITAL STEEL ERECTORS INC

  • CD SMITH CONSTRUCTION INC

  • CHILSTROM ERECTING COMPANY

  • CHOCOLAY IRONWORKS

  • CLOSNER CONSTRUCTION & SALE

  • CONSTRUCTION SUPPLY & ERECTION

  • COXSEE BUILDERS

  • DOBSON INDUSTRIAL INC

  • DORAL CORP

  • DUBURG IRON WORKS INC

  • DUWE METAL PRODCUTS INC

  • FA INDUSTRIAL SERVICES INC

  • GUNDLACH CHAMPION INC

  • HENNES SERVICES CO

  • HI BOOM ERECTING

  • INDUSTRIAL CONST SPECIALIST

  • INTERSTATE ERECTING INC

  • J H FINDORFF & SON INC

  • JM STEEL INC

  • JP CULLEN & SONS INC

  • LAKEHEAD CONSTRUCTORS INC

  • MARSHALL HANES STEEL ERECTORS

  • METCON BUILDING SYSTEMS INC

  • MIDWEST STAIRS & IRON INC

  • MIRON CONSTRUCTION CO INC

  • MKE IRON ERECTORS INC

  • NATIONAL MACHINERY & CONVEYOR

  • NUSTRUCTURES INC

  • PAULY JAIL BUILDING CO INC

  • PERMASTEELISA CLADDING TECH LTD

  • PRIME INDUSTRIAL CONTRACTORS

  • PW WALSH & CO

  • QUICKFAB WELDING & ERECTING

  • RED CEDAR STEEL ERECTORS

  • REGER COMPANIES INC

  • REYNOLDS RIGGING & CRANE

  • REYNOLDS TRANSFER & STORAGE

  • ROY NESS CONTRACTING & SALES

  • SCHMIDT STEEL INC

  • SPE INC

  • STRONGHOLD INDUSTRIES INC

  • SULLIVAN DESIGN BUILDING

  • THE BOLDT COMPANY

  • USA HOIST CORPORATION

  • VMI

  • WAUKESHA CRANE

  • WISCONSIN REBAR INC

Provenance

Return type
form_990
Tax year
2023
Filed
12 April 2025
IRS schema version
2023v6.0
Source object
202541039349300009

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