Civic Intelligence

Union Workers Benefits Trust

990 • Fiscal year 2022 • EIN 01-0501407

Oct 01, 2021 to Sep 30, 2022 • Filed on Aug 02, 2023

Organization ProfileN/A

View Organization Page

722 Washington StreetBath, ME 04530

(207) 443-5566

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.40x

Higher debt load relative to assets than 85% of similar nonprofits.

2022 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.15x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2022

Net Margin

39th percentile

-0.1%

Higher net margin than 39% of similar nonprofits.

2022 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2022

Asset Growth

39th percentile

-9.2%

Faster asset growth than 39% of similar nonprofits.

2022 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

70th percentile

8.9%

Faster revenue growth than 70% of similar nonprofits.

2022 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$2,127,206

Down $215,549 (-9.2%) from 2021

Net Assets

Down

$1,269,381

Down $192,598 (-13%) from 2021

Liabilities

Down

$857,825

Down $22,951 (-2.6%) from 2021

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin39th percentile

Revenue

Up

$5,593,355

Up $455,638 (+8.9%) from 2021

Expenses

Up

$5,597,556

Up $616,140 (+12%) from 2021

Net Income

Down

-$4,201

Down $160,502 (-103%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $958,869Liabilities 2011: $506,808Net Assets 2011: $452,0612011Assets 2012: $1,025,112Liabilities 2012: $475,608Net Assets 2012: $549,5042012Assets 2013: $1,086,027Liabilities 2013: $518,447Net Assets 2013: $567,5802013Assets 2014: $1,085,642Liabilities 2014: $543,403Net Assets 2014: $542,2392014Assets 2015: $1,126,813Liabilities 2015: $547,795Net Assets 2015: $579,0182015Assets 2016: $1,259,140Liabilities 2016: $598,941Net Assets 2016: $660,1992016Assets 2017: $1,368,976Liabilities 2017: $589,237Net Assets 2017: $779,7392017Assets 2018: $1,568,362Liabilities 2018: $677,016Net Assets 2018: $891,3462018Assets 2019: $1,694,063Liabilities 2019: $729,624Net Assets 2019: $964,4392019Assets 2020: $1,757,619Liabilities 2020: $511,561Net Assets 2020: $1,246,0582020Assets 2021: $2,342,755Liabilities 2021: $880,776Net Assets 2021: $1,461,9792021Assets 2022: $2,127,206Liabilities 2022: $857,825Net Assets 2022: $1,269,3812022Assets 2023: $2,041,822Liabilities 2023: $829,933Net Assets 2023: $1,211,8892023Assets 2024: $2,110,073Liabilities 2024: $862,661Net Assets 2024: $1,247,4122024

Highlighted filing

2022

Assets$2,127,206
Liabilities$857,825
Net Assets$1,269,381
Open 2022 Filing

Operations Trend

Revenue Growth70th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $3,027,8932011Revenue 2012: $3,170,478Expenses 2012: $3,094,765Net Income 2012: $75,7132012Revenue 2013: $3,101,028Expenses 2013: $3,056,980Net Income 2013: $44,0482013Revenue 2014: $3,159,104Expenses 2014: $3,195,250Net Income 2014: -$36,1462014Revenue 2015: $3,392,206Expenses 2015: $3,341,737Net Income 2015: $50,4692015Revenue 2016: $3,694,491Expenses 2016: $3,633,650Net Income 2016: $60,8412016Revenue 2017: $3,716,776Expenses 2017: $3,627,804Net Income 2017: $88,9722017Revenue 2018: $4,115,584Expenses 2018: $4,013,166Net Income 2018: $102,4182018Revenue 2019: $4,398,073Expenses 2019: $4,305,521Net Income 2019: $92,5522019Revenue 2020: $4,305,721Expenses 2020: $4,055,244Net Income 2020: $250,4772020Revenue 2021: $5,137,717Expenses 2021: $4,981,416Net Income 2021: $156,3012021Revenue 2022: $5,593,355Expenses 2022: $5,597,556Net Income 2022: -$4,2012022Revenue 2023: $5,224,310Expenses 2023: $5,334,870Net Income 2023: -$110,5602023Revenue 2024: $5,615,380Expenses 2024: $5,723,517Net Income 2024: -$108,1372024

Highlighted filing

2022

Revenue$5,593,355
Expenses$5,597,556
Net Income-$4,201
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Aug 2, 2023
Return Version
2021v4.0
Gross Receipts
$5,651,912
Mission and Program Overview

Mission

To provide insurance benefits to eligible members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,138,039$1,161,860▲ $23,821
Investments in Publicly Traded Securities$992,892$824,759▼ $168,133
Accounts Receivable$165,828$81,956▼ $83,872
Savings and Temporary Cash Investments$45,747$58,212▲ $12,465
Total Assets$2,342,755$2,127,206▼ $215,549
Other Assets Total$249$419▲ $170
Liabilities
Accounts Payable and Accrued Expenses$880,776$857,825▼ $22,951
Total Liabilities$880,776$857,825▼ $22,951
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,461,979$1,269,381▼ $192,598
Total Net Assets Fund Balance$1,461,979$1,269,381▼ $192,598
Total Liabilities and Net Assets / Fund Balance$2,342,755$2,127,206▼ $215,549
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Glenn BurroughsChairman
Allyce PepinTrustee
Donyule RectorTrustee
Jessica Goodwin-chubbuckTrustee
Lorraine BeaulieuTrustee
Trent VellellaTrustee
Danny LoudermilkSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,552,651
Investment Income
$40,704
Other Revenue
$0
Change in Net Assets
$-4,201

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,593,355
Revenue Not Reported on Form 990
$-188,397
Total Revenue per Audited Statements
$5,404,958
Total Revenue per Form 990
$5,593,355
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$135,622
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$5,461,934
Fees for Services Other---$100,363
Fees for Services Accounting---$13,000
Fees for Service Investment Mgmnt Fees---$7,806
Insurance---$7,578
Fees for Services Legal---$5,375
Office Expenses---$1,500
Total Functional Expenses$0$0$0$5,597,556

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,597,556
Total Expenses per Audited Statements$5,597,556
Total Expenses per Form 990$5,597,556
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The plan provides insurance benefits covering active members of the industrial union of marine and shipbuilding workers of america/international association of mechinists and aerospace workers, labor union locals.”

Form 990, Page 6, Part VI, Line 8B

“No separate committees, all decisions made through general board.”

Form 990, Page 6, Part VI, Line 11B

“A draft of the form 990 is provided to the chairman and the other trustees. The draft is reviewed and any questions discussed and resolved witht he external tax preparer prior to filing the final form.”

Form 990, Page 6, Part VI, Line 19

“All required documentation is available upon written request.”

Filing and Contact Details

Filer

Filer Name
Union Workers Benefits Trust
EIN
01-0501407
Phone
2074435566
Address
722 WASHINGTON STREET, BATH, ME 04530

Signing Officer

Name
Glenn Burroughs
Title
Chairman
Phone
2074435566
Signed
2023-08-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Glenn Burroughs
Formed
1995
Legal Domicile
Me
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Runyon Kersteen Ouellette
Address
20 LONG CREEK DR, SOUTH PORTLAND, ME 04106
Preparer
Amy Chasse
Phone
2077732986
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 2C

“The audit oversight process did not change during the year.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Accounting principles generally accepted in the united states of america require plan management to evaluate tax positions taken by the plan and recognize a liability if the plan has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service and state taxing authorities. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Raw XML Appendix295 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A LIABILITY IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PLAN PROVIDES INSURANCE BENEFITS COVERING ACTIVE MEMBERS OF THE INDUSTRIAL UNION OF MARINE AND SHIPBUILDING WORKERS OF AMERICA/INTERNATIONAL ASSOCIATION OF MECHINISTS AND AEROSPACE WORKERS, LABOR UNION LOCALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO SEPARATE COMMITTEES, ALL DECISIONS MADE THROUGH GENERAL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT OF THE FORM 990 IS PROVIDED TO THE CHAIRMAN AND THE OTHER TRUSTEES. THE DRAFT IS REVIEWED AND ANY QUESTIONS DISCUSSED AND RESOLVED WITHT HE EXTERNAL TAX PREPARER PRIOR TO FILING THE FINAL FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL REQUIRED DOCUMENTATION IS AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE AUDIT OVERSIGHT PROCESS DID NOT CHANGE DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 12, PART XII, LINE 2C
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01461979
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01269381
IRS990/TotalProgramServiceRevenueAmt05552651
IRS990/TotalRevenueGrp/ExclusionAmt040704
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05552651
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05593355
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02127206
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0BATH
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004530
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GLENN BURROUGHS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02074435566
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-02
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ReturnHeader/Filer/BusinessNameControlTxt0UNIO
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ReturnHeader/Filer/PhoneNum02074435566
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt020 LONG CREEK DR
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ReturnHeader/PreparerPersonGrp/PhoneNum02077732986
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMY CHASSE
ReturnHeader/ReturnTs02023-08-03T17:02:30-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GLENN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BURROUGHS
ReturnHeader/TaxPeriodBeginDt02021-10-01
ReturnHeader/TaxPeriodEndDt02022-09-30
ReturnHeader/TaxYr02021

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Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,127,206
Liabilities
$857,825
Net assets
$1,269,381
Revenue
$5,593,355
Expenses
$5,597,556
Net income
-$4,201
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.11$0.86$1.25$5.62$5.72$0.11
2023Detailed filing. Detailed filing data is available for this year.$2.04$0.83$1.21$5.22$5.33$0.11
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$0.86$1.27$5.59$5.60$0.00
2021Detailed filing. Detailed filing data is available for this year.$2.34$0.88$1.46$5.14$4.98$0.16
2020Detailed filing. Detailed filing data is available for this year.$1.76$0.51$1.25$4.31$4.06$0.25
2019Detailed filing. Detailed filing data is available for this year.$1.69$0.73$0.96$4.40$4.31$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.57$0.68$0.89$4.12$4.01$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.37$0.59$0.78$3.72$3.63$0.09
2016Detailed filing. Detailed filing data is available for this year.$1.26$0.60$0.66$3.69$3.63$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.13$0.55$0.58$3.39$3.34$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.09$0.54$0.54$3.16$3.20$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.52$0.57$3.10$3.06$0.04
2012Summary only. Only limited summary data is available for this year.$1.03$0.48$0.55$3.17$3.09$0.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$0.51$0.45$3.03