Form 990 for tax year 2023
Filed by IRON WORKERS LOCAL 549 & 550 MEDICAL & BENEFIT FUND.
Totals
- Total revenue
- $12,445,760
- Total expenses
- $11,496,226
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $11,891,781
- Investment income
- $553,979
- Other revenue
- $0
- Total assets, end of year
- $15,535,045
- Total liabilities, end of year
- $1,740,848
- Net assets or fund balances, end of year
- $13,794,197
- Program services expenses (Part IX)
- $11,496,226
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $11,496,226
Program services were 100.0% 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 CONTRIBUTION
total $11,142,074 · related or exempt $11,142,074
-
2b · Program service revenue: RETIREE AND MEMBER SELF PAY
total $749,707 · related or exempt $749,707
-
3 · Investment income
total $378,626 · excluded $378,626
-
7a · Gross sales of assets other than inventory
securities $400,000
-
7b · Less cost or other basis and sales expenses
securities $224,647
-
7c · Gain or loss
securities $175,353
-
7d · Net gain or loss
total $175,353 · excluded $175,353
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $10,548,655 · program services $10,548,655
-
11b · Fees: legal
total $39,731 · program services $39,731
-
11c · Fees: accounting
total $5,140 · program services $5,140
-
11f · Fees: investment management
total $12,833 · program services $12,833
-
11g · Fees: other
total $841,567 · program services $841,567
-
13 · Office expenses
total $22,567 · program services $22,567
-
19 · Conferences, conventions and meetings
total $7,103 · program services $7,103
-
23 · Insurance
total $12,398 · program services $12,398
-
24a · Other expenses: PCORI FEES
total $6,232 · program services $6,232
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,799,269 · end of year $4,198,801
-
2 · Savings and temporary cash investments
beginning of year $1,640,918 · end of year $2,346,163
-
4 · Accounts receivable
beginning of year $873,601 · end of year $1,096,562
-
9 · Prepaid expenses and deferred charges
beginning of year $114,867 · end of year $5,963
-
11 · Investments: publicly traded securities
beginning of year $7,200,769 · end of year $7,807,529
-
15 · Other assets
beginning of year $81,680 · end of year $80,027
-
17 · Accounts payable and accrued expenses
beginning of year $128,196 · end of year $45,848
-
25 · Other liabilities
beginning of year $935,000 · end of year $1,695,000
-
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 $12,647,908 · end of year $13,794,197
Mission and programs · 2023
Mission
THE TRUST IS CREATED, ESTABLISHED AND MAINTAINED, (AND THE TRUSTEES AGREE TO RECEIVE, HOLD, AND ADMINISTER), TO PROVIDE BENEFITS FOR MEMBERS AND THEIR BENEFICIARIES IN ACCORDANCE WITH THE PLAN DOCUMENT.
Activities or mission (Part I)
TO PROVIDE ADDICENT, HOSPITAL, SURGICAL, DISABILITY, DENTAL, PRESCRIPTION, AND DEATH BENEFITS TO ELIGIBLE MEMBERS OF IRON WORKERS LOCAL 549 & 550 AND THEIR SPOUSES AND DEPENDENTS.
-
TO PROVIDE BENEFITS FOR MEMBERS AND THEIR BENEFICIARIES IN ACCORDANCE WITH THE PLAN DOCUMENT.
Expenses $11,496,226
As filed on the 2023 return.
Listed in Part VII
-
ERIC STARKOWICZ
EMPLOYER TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
GEOFF NICELY
EMPLOYER TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
JIM CHAPMAN
EMPLOYER TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
LORI SCOTT
EMPLOYER TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
TOM DULIN
EMPLOYER TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
STEVE CAFARO
ALTERNATE EMPLOYER TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
GARY CRAFT
EMPLOYEE TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
KEVIN COULTER
CO-CHAIRMAN/EMPLOYEE TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 50 related
-
KELLY DIERKES
EMPLOYEE TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
SCOTT ALLEMAN
EMPLOYEE TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
GARY FELGENHAUER
EMPLOYEE TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
CHAD JOHNSON
ALTERNATE EMPLOYEE TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
BENJAMIN STRIMEL
ALTERNATE EMPLOYEE TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
TOM LISTON
EMPLOYER TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
SEAN DIEKMANN
CO-CHAIRMAN/EMPLOYEE TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 50 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 12 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202540449349300139
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