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Nonprofiteer
← INSULATORS LOCAL NO 2 WELFARE FUND

Form 990 for tax year 2023

Filed by INSULATORS LOCAL NO 2 WELFARE FUND.

Totals

Total revenue
$12,160,294
Total expenses
$12,498,051
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$11,351,597
Investment income
$805,220
Other revenue
$3,477
Total assets, end of year
$37,425,839
Total liabilities, end of year
$54,726
Net assets or fund balances, end of year
$37,371,113
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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 $9,239,047 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: PARTICIPANT CONTRIBUTIONS

    total $1,718,010 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: 401h BENEFIT CONTRIBUTIONS

    total $394,540 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $438,501 · unrelated business $0 · excluded $438,501

  • 7a · Gross sales of assets other than inventory

    securities $10,664,503

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

    securities $10,297,784

  • 7c · Gain or loss

    securities $366,719

  • 7d · Net gain or loss

    total $366,719 · related or exempt $0 · unrelated business $0 · excluded $366,719

  • 11a · Other revenue: CYBER INSURANCE CLAIM

    total $3,477 · related or exempt $3,477 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $3,477

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $12,051,766 · program services $0

  • 11b · Fees: legal

    total $26,904 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $32,330 · program services $0 · management and general $0 · fundraising $0

  • 11f · Fees: investment management

    total $150,945 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $14,769 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $15,533 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $18,228 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: ADMINISTRATION EXPENSE

    total $126,420 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: ACTUARIAL SERVICES

    total $50,000 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses: DUES AND MEMBERSHIP

    total $1,145 · program services $0 · management and general $0 · fundraising $0

  • 24d · Other expenses: MISCELLANEOUS

    total $1,159 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $8,852 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,262,146 · end of year $732,578

  • 2 · Savings and temporary cash investments

    beginning of year $758,455 · end of year $3,785,630

  • 4 · Accounts receivable

    beginning of year $2,184,721 · end of year $2,225,979

  • 11 · Investments: publicly traded securities

    beginning of year $16,350,379 · end of year $19,577,845

  • 12 · Investments: other securities

    beginning of year $9,919,416 · end of year $10,879,310

  • 15 · Other assets

    beginning of year $191,208 · end of year $224,497

  • 17 · Accounts payable and accrued expenses

    beginning of year $234,636 · end of year $40,270

  • 25 · Other liabilities

    beginning of year $2,856 · end of year $14,456

  • 31 · Retained earnings, endowment or other funds

    beginning of year $35,428,833 · end of year $37,371,113

Mission and programs · 2023

Mission

TO PROVIDE HEALTH & WELFARE BENEFITS

  • HEALTH AND WELFARE BENEFITS ARE PROVIDED TO MEMBERS OF THE ASBESTOS WORKERS LOCAL UNION #2.

As filed on the 2023 return.

Listed in Part VII

  • James Cassidy

    TRUSTEE / CO-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • James Burnham Jr

    TRUSTEE / CO-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Brad Schafer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Seiler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Keith Connolly

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Langsdorf

    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.

  • Advanced Industrial Services

    Insulation · PA · 0% owned

  • Summit Insulation

    Insulation · PA · 0% owned

Related corporations and trusts

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

  • Atlas Industries

    C · Mechanical Insulation · PA · 0% owned

  • Atlas Mechanical Insulation

    C · Mechanical Insulation · PA · 0% owned

  • Burnham Industrial

    S · Insulation Contractor · PA · 0% owned

  • CIIS

    S · Construction Insulation · PA · 0% owned

  • Danson Company

    S · Insulation · PA · 0% owned

  • Day & Zimmerman

    S · Labor Provider · PA · 0% owned

  • Devine Insulation

    S · Insulation Contractor · PA · 0% owned

  • EPI Insulation

    S · Insulation · WV · 0% owned

  • GVH Enviromental

    S · Asbestos Removal · PA · 0% owned

  • Industrial Furnace

    S · Contractor Supplier · PA · 0% owned

  • Fazio Mechanical Services Inc

    S · INSULATION CONTRACTOR · PA · 0% owned

  • Performance Abatement

    S · Construction · KS · 0% owned

  • Performance Contracting Inc

    S · Construction · KS · 0% owned

  • Tech Insulation

    S · Mechanical Insulation · PA · 0% owned

  • API Inc

    S · Insulation Contractor · PA · 0% owned

  • All-American Insulation

    C · Insulation Contractor · PA · 0% owned

  • Allegheny Insulation

    C · Mechanical Insulation · PA · 0% owned

  • BMF Contracting

    S · Insulation Contractor · PA · 0% owned

  • George V Hamilton Inc

    C · Insulation Contractor · PA · 0% owned

  • R H Lapp & Sons Inc

    C · Mechanical Contractor · MD · 0% owned

  • Superior Industrial Insulation

    C · Mechanical Insulation · OH · 0% owned

  • Thermal Solutions

    C · Industrial Insulation · OH · 0% owned

  • Brand Energy Services

    C · Industrial Contractor · WV · 0% owned

  • Professional Mech Sales

    C · Industrial Contractor · PA · 0% owned

  • United Firestop Tech

    C · Industrial Contractor · PA · 0% owned

  • Xtreme Mechanical

    C · Industrial Contractor · PA · 0% owned

  • Pittsburgh Allegheny Thermal

    C · Industrial Contractor · PA · 0% owned

  • Gribbins Insulation Co Inc

    C · Industrial Contractor · IN · 0% owned

  • Kramig Insulation

    C · Industrial Contractor · OH · 0% owned

  • Abmech

    C · Industrial Contractor · PA · 0% owned

  • All Seasons AC & Heating

    C · Industrial Contractor · MD · 0% owned

  • American Energy Contractors

    C · Industrial Contractor · WV · 0% owned

  • Brock Industrial Services

    C · Industrial Contractor · IL · 0% owned

  • D & B Insulation Inc

    Industrial Contractor · 0% owned

  • Kiewit Power Constructors

    Industrial Contractor · 0% owned

  • NAES Power Contractors

    Industrial Contractor · 0% owned

Provenance

Return type
form_990
Tax year
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202422899349302347

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