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Nonprofiteer
← WELFARE FUND LOCAL NO16 I A T S E

Form 990 for tax year 2022

Filed by WELFARE FUND LOCAL NO16 I A T S E.

Totals

Total revenue
$15,124,205
Total expenses
$12,576,027
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,932,029
Investment income
$192,176
Other revenue
$0
Total assets, end of year
$16,035,612
Total liabilities, end of year
$4,669,638
Net assets or fund balances, end of year
$11,365,974
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: PARTICIPANT CONTRIBUTIONS

    total $641,944 · related or exempt $641,944

  • 2b · Program service revenue: EMPLOYER CONTRIBUTIONS

    total $13,957,469 · related or exempt $13,957,469

  • 2c · Program service revenue: RX REBATES

    total $126,900 · related or exempt $126,900

  • 2d · Program service revenue: STOP LOSS REIMBURSEMENTS

    total $197,073 · related or exempt $197,073

  • 2e · Program service revenue: MEDICARE D SUBSIDY

    total $8,643 · related or exempt $8,643

  • 3 · Investment income

    total $192,109 · excluded $192,109

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $1,000

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

    securities $933

  • 7c · Gain or loss

    securities $67

  • 7d · Net gain or loss

    total $67 · excluded $67

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $11,749,637

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $281,098

  • 11b · Fees: legal

    total $89,014

  • 11c · Fees: accounting

    total $88,439

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $13,944

  • 11g · Fees: other

    total $242,861

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $69,816

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $16,009

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $25,209

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,030,635 · end of year $9,780,050

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,213,107 · end of year $905,979

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,249 · end of year $21,111

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $5,425,131 · end of year $4,789,060

  • 12 · Investments: other securities

    beginning of year $659,861 · end of year $539,412

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,160,663 · end of year $1,632,738

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $420,830 · end of year $3,036,900

  • 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 $9,765,490 · end of year $11,365,974

Mission and programs · 2022

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS IN THIS MULTIEMPLOYER PLAN.

  • PROVIDED HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS IN THIS MULTIEMPLOYER PLAN.

As filed on the 2022 return.

Listed in Part VII

  • JAMES BEAUMONTE

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • STEVE LUTGE

    TRUSTEE (THRU 11/21/22)

    Total calculated
    $0
    Hours/week
    1

  • SCOTT A HOUGHTON

    CHAIRMAN(THRU 11/21/22)

    Total calculated
    $0
    Hours/week
    1

  • KENNETH RYAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LANCE HUGHSTON JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BOB SAUTER

    TRUSTEE (THRU 11/21/22)

    Total calculated
    $0
    Hours/week
    1

  • MARY CONDE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DANNY BORELIS

    TRUSTEE (EFF. 11/21/22)

    Total calculated
    $0
    Hours/week
    1

  • SHARI BETHEL

    TRUSTEE (EFF. 11/21/22)

    Total calculated
    $0
    Hours/week
    1

  • JEN GOOD

    TRUSTEE (EFF. 11/21/22)

    Total calculated
    $0
    Hours/week
    1

  • RAINIER KOENERS

    TRUSTEE (EFF. 11/21/22)

    Total calculated
    $0
    Hours/week
    1

  • SEE SCHEDULE O FOR COMPENSATION

    PAID BY RELATED ORGANIZATIONS

    Total calculated
    $0
    Hours/week
    0

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.

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202323189349301237

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