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Nonprofiteer
← ROOFERS UNION LOCAL NO 70 INSURANCE FUND

Form 990 for tax year 2023

Filed by ROOFERS UNION LOCAL NO 70 INSURANCE FUND.

Totals

Total revenue
$5,731,405
Total expenses
$4,974,562
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,579,293
Investment income
$147,977
Other revenue
$4,135
Total assets, end of year
$8,865,922
Total liabilities, end of year
$1,316,899
Net assets or fund balances, end of year
$7,549,023
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$4,974,562

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 CONTIRBUTIONS

    total $5,335,455 · related or exempt $5,335,455

  • 2b · Program service revenue: SELF PAYMENT CONTRIBUTIONS

    total $243,838 · related or exempt $243,838

  • 3 · Investment income

    total $194,168 · excluded $194,168

  • 7a · Gross sales of assets other than inventory

    securities $1,486,485

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

    securities $1,532,676

  • 7c · Gain or loss

    securities -$46,191

  • 7d · Net gain or loss

    total -$46,191 · related or exempt -$46,191

  • 11a · Other revenue: REIMBURSEMENT

    total $2,640 · excluded $2,640

  • 11b · Other revenue: OTHER INCOME

    total $1,125 · excluded $1,125

  • 11c · Other revenue: SETTLEMENT INCOME

    total $215 · excluded $215

  • 11d · All other revenue

    total $155 · excluded $155

  • 11e · Other revenue, total

    $4,135

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,745,669

  • 5 · Compensation of officers, directors and key employees

    total $26,020

  • 7 · Other salaries and wages

    total $14,138

  • 8 · Pension plan contributions

    total $7,710

  • 9 · Other employee benefits

    total $3,901

  • 10 · Payroll taxes

    total $8,794

  • 11a · Fees: management

    total $70,983

  • 11b · Fees: legal

    total $3,668

  • 11c · Fees: accounting

    total $18,850

  • 11f · Fees: investment management

    total $12,646

  • 11g · Fees: other

    total $10,550

  • 13 · Office expenses

    total $24,001

  • 16 · Occupancy

    total $14,451

  • 19 · Conferences, conventions and meetings

    total $818

  • 23 · Insurance

    total $12,363

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,151,984 · end of year $32,440

  • 2 · Savings and temporary cash investments

    beginning of year $1,401,737 · end of year $893,402

  • 4 · Accounts receivable

    beginning of year $466,908 · end of year $481,361

  • 9 · Prepaid expenses and deferred charges

    beginning of year $356,796 · end of year $466,990

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

    $33,675

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

    $33,675

  • 11 · Investments: publicly traded securities

    beginning of year $4,436,541 · end of year $6,989,113

  • 15 · Other assets

    beginning of year $33,284 · end of year $2,616

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,582 · end of year $4,178

  • 25 · Other liabilities

    beginning of year $1,129,023 · end of year $1,312,721

  • 27 · Net assets without donor restrictions

    beginning of year $6,696,645 · end of year $7,549,023

Mission and programs · 2023

Mission

THE ROOFERS UNION LOCAL NO. 70 INSURANCE TRUST FUND IS CRAFTED FOR THE PURPOSE OF PROVIDING HEALTH INSURANCE BENEFITS AND LIFE INSURANCE THROUGH GROUP INSURANCE PREMIUMS AND SHORT-TERM DISABILITY BENEFITS ON A SELF- FUNDED BASIS UNDER A COLLECTIVELY BARGAINED AGREEMENT, ON BEHALF OF THE ROOFERS UNION LOCAL NO. 70, IN COMPLIANCE WITH THE TAFT-HARTLEY ACT.

  • THE ROOFERS UNION LOCAL NO. 70 INSURANCE TRUST FUND IS CRAFTED FOR THE PURPOSE OF PROVIDING HEALTH INSURANCE BENEFITS AND LIFE INSURANCE THROUGH GROUP INSURANCE PREMIUMS AND SHORT-TERM DISABILITY BENEFITS ON A SELF- FUNDED BASIS UNDER A COLLECTIVELY BARGAINED AGREEMENT, ON BEHALF OF THE ROOFERS UNION LOCAL NO. 70, IN COMPLIANCE WITH THE TAFT-HARTLEY ACT.

    Expenses $4,974,562 · Revenue $5,579,294

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Charles Rumsey

    TRUSTEE

    Total calculated
    $26,020
    From this org
    $26,020
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Tom Bloom

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nick Bosworth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jeremy Gay

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kristine Cook Lindsey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mark Woodward

    CHAIRMAN

    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.

Provenance

Return type
form_990
Tax year
2023
Filed
1 August 2024
IRS schema version
2023v5.0
Source object
202402259349300505

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