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← HAGERSTOWN TEAMSTERS & MOTOR CARRIERS WELFARE FUND

Form 990 for tax year 2023

Filed by HAGERSTOWN TEAMSTERS & MOTOR CARRIERS WELFARE FUND.

Totals

Total revenue
$9,250,796
Total expenses
$6,724,166
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$8,267,560
Investment income
$976,269
Other revenue
$6,967
Total assets, end of year
$34,410,373
Total liabilities, end of year
$62,594
Net assets or fund balances, end of year
$34,347,779
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 CONTRIBUTIONS

    total $8,012,468 · related or exempt $8,012,468

  • 2b · Program service revenue: PARTICIPANT CONTRIBUTIONS

    total $255,092 · related or exempt $255,092

  • 3 · Investment income

    total $976,269 · excluded $976,269

  • 7a · Gross sales of assets other than inventory

    securities $8,673,847

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

    securities $8,673,847

  • 7c · Gain or loss

    securities $0

  • 11a · Other revenue: OTHER INCOME

    total $6,967 · related or exempt $6,967

  • 11e · Other revenue, total

    $6,967

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,081,622

  • 11b · Fees: legal

    total $117,974

  • 11c · Fees: accounting

    total $16,750

  • 11f · Fees: investment management

    total $20,401

  • 11g · Fees: other

    total $433,583

  • 13 · Office expenses

    total $22,986

  • 16 · Occupancy

    total $520

  • 19 · Conferences, conventions and meetings

    total $22,400

  • 23 · Insurance

    total $4,930

  • 24a · Other expenses: FEES MANDATED BY ACA

    total $3,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,479,122 · end of year $829,845

  • 2 · Savings and temporary cash investments

    beginning of year $1,499,003 · end of year $1,938,844

  • 4 · Accounts receivable

    beginning of year $1,038,971 · end of year $987,874

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,914 · end of year $8,943

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

    $18,234

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

    $18,234

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $15,806,666 · end of year $27,377,880

  • 12 · Investments: other securities

    beginning of year $2,026,980 · end of year $3,266,987

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,274 · end of year $62,594

  • 29 · Capital stock, trust principal or current funds

    beginning of year $6,429,308 · end of year $6,429,308

  • 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 $24,372,074 · end of year $27,918,471

Mission and programs · 2023

Mission

TO PROVIDE HEALTH AND DEATH BENEFITS COVERAGE FOR ELIGIBLE PARTICIPANTS, AND THEIR DEPENDENTS, WHO ARE EMPLOYED BY CONTRIBUTING EMPLOYERS.

  • TO PROVIDE HEALTH AND DEATH BENEFITS COVERAGE FOR ELIGIBLE PARTICIPANTS, AND THEIR DEPENDENTS, WHO ARE EMPLOYED BY CONTRIBUTING EMPLOYERS.

As filed on the 2023 return.

Listed in Part VII

  • Tom Krause

    UNION TRUSTEE

    Total calculated
    $205,486
    From this org
    $0
    From related orgs
    $148,165
    Other
    $57,321
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,165 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $36,828 related
    Nontaxable benefits
    $0 + $20,493 related
    Filer's total
    $0 + $205,486 related

  • Daniel Craytor

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Robert Cowie

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Daniel W Schmidt

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    2

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.

  • TEAMSTERS LOCAL 992

    501(C)(5) · LABOR UNION · MD

  • HAGERSTOWN MOTOR CARRIERS AND TEAMSTERS PENSION FUND

    401(A)/501(A) · PENSION FUND · MD

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 corporations and trusts

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

  • ABF FREIGHT SYSTEMS

    AR

  • UNITED PARCEL SERVICE

    OH

  • SCHMIDT BAKING

    MD

Provenance

Return type
form_990
Tax year
2023
Filed
15 April 2025
IRS schema version
2023v6.0
Source object
202521059349300312

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