Civic Intelligence

Boston Building Service Employees' Trust Fund

EIN 04-6119050 • 501(c)9 • Boston, MA

Profile

Payment of medical and disability benefits on behalf of participants and their beneficiaries under a collective bargaining agreement.

26 West Street 3rd FloorBoston, MA 02111

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2019

Liabilities / Revenue

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)9 • $100M-$250M nonprofits • Source year 2019

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

62nd percentile

$207,157

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

501(c)9 • $100M-$250M nonprofits • Source year 2019

Asset Growth

4th percentile

-100%

Faster asset growth than 4% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

89th percentile

35%

Faster revenue growth than 89% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Down

$0

Down $104,971,716 (-100%) from 2018

Liabilities

Down

$0

Down $962,365 (-100%) from 2018

Net Assets

Down

$0

Down $104,009,351 (-100%) from 2018

Revenue

Up

$9,031,950

Up $2,336,422 (+35%) from 2018

Expenses

Up

$7,424,492

Up $122,501 (+1.7%) from 2018

Net Income

Up

$1,607,458

Up $2,213,921 (+365%) from 2018

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2010: $63,040,545Liabilities 2010: $4,012,596Net Assets 2010: $59,027,9492010Assets 2011: $59,302,325Liabilities 2011: $4,003,632Net Assets 2011: $55,298,6932011Assets 2012: $70,760,490Liabilities 2012: $3,946,141Net Assets 2012: $66,814,3492012Assets 2013: $85,497,291Liabilities 2013: $4,968,639Net Assets 2013: $80,528,6522013Assets 2014: $98,482,053Liabilities 2014: $6,425,404Net Assets 2014: $92,056,6492014Assets 2015: $111,464,446Liabilities 2015: $5,699,961Net Assets 2015: $105,764,4852015Assets 2016: $118,918,912Liabilities 2016: $6,230,080Net Assets 2016: $112,688,8322016Assets 2017: $116,026,449Liabilities 2017: $3,460,272Net Assets 2017: $112,566,1772017Assets 2018: $104,971,716Liabilities 2018: $962,365Net Assets 2018: $104,009,3512018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2019

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80M$60M$40M$20M$0-$20MExpenses 2010: $30,241,7992010Expenses 2011: $36,443,9552011Revenue 2012: $45,925,430Expenses 2012: $37,433,828Net Income 2012: $8,491,6022012Revenue 2013: $50,999,846Expenses 2013: $41,130,511Net Income 2013: $9,869,3352013Revenue 2014: $65,249,747Expenses 2014: $47,769,653Net Income 2014: $17,480,0942014Revenue 2015: $62,205,419Expenses 2015: $48,438,618Net Income 2015: $13,766,8012015Revenue 2016: $57,410,856Expenses 2016: $54,077,922Net Income 2016: $3,332,9342016Revenue 2017: $26,108,700Expenses 2017: $28,628,629Net Income 2017: -$2,519,9292017Revenue 2018: $6,695,528Expenses 2018: $7,301,991Net Income 2018: -$606,4632018Revenue 2019: $9,031,950Expenses 2019: $7,424,492Net Income 2019: $1,607,4582019

Highlighted filing

2019

Revenue$9,031,950
Expenses$7,424,492
Net Income$1,607,458

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.1
Gross Receipts
$102,093,010
Mission and Program Overview

Mission

Payment of medical and disability benefits on behalf of participants and their beneficiaries under a collective bargaining agreement.

Provide medical and disability benefits to participants and their beneficiaries under a collective bargaining agreement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$104,009,351$0▼ $104,009,351
Investments Other Securities$53,364,070$0▼ $53,364,070
Investments in Publicly Traded Securities$49,642,394$0▼ $49,642,394
Cash and Non-Interest-Bearing Accounts$661,658$0▼ $661,658
Savings and Temporary Cash Investments$122,264$0▼ $122,264
Accounts Receivable$97,615$0▼ $97,615
Land, Buildings, and Equipment, Net$9,152$0▼ $9,152
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$104,971,716$0▼ $104,971,716
Other Assets Total$1,074,563$0▼ $1,074,563
Liabilities
Other Liabilities$833,500$0▼ $833,500
Accounts Payable and Accrued Expenses$128,865$0▼ $128,865
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$962,365$0▼ $962,365
Net Assets / Fund Balance
Total Net Assets Fund Balance$104,009,351$0▼ $104,009,351
Total Liabilities and Net Assets / Fund Balance$104,971,716$0▼ $104,971,716
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Peter GoldbergerExecutive Director$6,402$850$7,252
Elaine PommellsDirector of Finance$1,975$319$2,294

Board Members and Trustees

NameTitle
Roxana RiveraTrustee/chairman
Emanuel PastreichTrustee
James CanavanTrustee
Vince WongTrustee
Steve JenkinsChief Operating Officer

Highest Paid Contractors

ContractorServicesLocationCompensation
Withumsmithbrown PCAudit Services4600 EAST WEST HIGHWAY SUITE 900, Bethesda, MD 20814-3423$133,894
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$252,557
Investment Income
$8,668,761
Other Revenue
$110,632
Change in Net Assets
$1,607,458

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,809,760
Revenue Not Reported on Financial Statements
$222,190
Revenue Not Reported on Form 990
$815,916
Other Revenue Adjustments
$110,632
Total Revenue per Audited Statements
$9,625,676
Total Revenue per Form 990
$9,031,950
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$486,261
Other Expenses$441,495
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$6,496,736
Pension Plan Contributions---$213,100
Other Salaries and Wages---$200,027
Fees for Services Accounting---$133,894
Fees for Service Investment Mgmnt Fees---$111,558
Other Employee Benefits---$55,354
Fees for Services Other---$39,397
Insurance---$37,957
Occupancy---$22,803
Office Expenses---$21,484
Payroll Taxes---$17,780
Depreciation Depletion---$3,893
Travel---$1,518
Conferences and Meetings---$1,313
Other Expenses---$424
Information Technology---$292
Total Functional Expenses$0$0$0$7,424,492

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$7,424,492
Expenses per Audited Statements$7,202,302
Total Expenses per Audited Statements$7,202,302
Expenses Not Reported on Financial Statements$222,190
Other Expense Adjustments$110,632
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

PART VI, SECTION A, LINE 2 - BUSINESS RELATIONSHIPS:

Trustees roxana rivera and emanuel pastreich serve as vice president and at-large board member of service employees international union local 32bj.

PART VI, SECTION A, LINE 7A - APPOINTMENT OF GOVERNING BODY:

The board of trustees shall consist of four persons; two management trustees of whom shall be named by the maintenance contractors of new england and two union trustees of whom shall be named by seiu local 32bj.

PART VI, SECTION A, LINE 8B - OTHER COMMITTEES WITH AUTHORITY:

There are no other committees.

PART VI, SECTION B, LINE 11B - REVIEW PROCESS OF FORM 990:

The form 990 is prepared by an independent certified accounting firm ("cpa firm"), engaged by the board of trustees, that forwards a draft copy of the form 990 to the fund's administrator for review and comment. The fund administrator then discusses their comments with the cpa firm and a final draft form 990 is provided for distribution to all trustees, currently serving, prior to filing of the form 990.

PART VI, SECTION B, LINE 12C - CONFLICT OF INTEREST POLICY:

Trustees are required to disclose any interest that could give rise to conflicts.

PART VI, SECTION C, LINE 19 - AVAILABILITY OF DOCUMENTS:

The fund makes certain documents available to participants and contributing employers upon written request and may charge a fee for copying.

Filing and Contact Details

Filer

Filer Name
BOSTON BUILDING SERVICE EMPLOYEES' TRUST FUND
EIN
04-6119050
In Care Of
% 32BJ BENEFITS FUNDS
Phone
2125392778
Address
26 WEST STREET 3RD FLOOR, BOSTON, MA 02111

Signing Officer

Name
Roxana Rivera
Title
Trustee
Phone
2125392778
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roxana Rivera
Formed
1963
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
0
Employees
22
Volunteers
0

Preparer

Firm
Withumsmithbrownpc
Address
4600 EAST WEST HWY 900, BETHESDA, MD 20814-3423
Preparer
Richard L Ruvelson
Phone
3012726000
Supplemental Narrative

Additional Explanations

PART X, LINE 2C - RESPONSIBILITIES FOR OVERSIGHT OF AUDIT:

The trustees are responsibile for the audit, the process of overseeing the audit, and the selection of the auditor has not changed.

Part XI, Line 9 - Other Changes in Net Assets

The Trustees ratified their decision to merge the Plan on May 21, 2019. Termination shall not permit any part of the Plan to be used for or diverted to purposes other than the exclusive benefit of the participants and their beneficiaries or for the payment of administrative expenses of the Plan. On May 21, 2019 the Trustees approved the Agreement for Merger into the Building Service 32BJ Health Fund. Liquidation of the assets were approved to be transferred and merged, which was completed on December 31, 2019. During the year ended December 31, 2019, net assets available for benefits were transferred out to the 32BJ Health Fund. The composition of net assets available for benefits transferred to 32BJ Health Fund were $106,432,725, detailed below: Cash $ 95,363,962 Investments 11,508,692 Rebates Receivable 7,187 Other Receivable 178,116 Property and equipment 50,200 Accounts Payable & Accrued Expenses (42,500) Due to affiliates (632,932) ------------- $106,432,725 =============

Financial Statement Notes

PART XI, LINE 2 - FIN 48 FOOTNOTE:

Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Plan and recognize an income tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has evaluated the tax positions taken by the Plan and concluded that as of December 31, 2019 there are no uncertain positions taken or expected to be taken that would require recognition in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. In addition, there have been no tax related interest or penalties for the periods presented in these financial statements.

PART XI, LINE 4B - OTHER REVENUES INCLUDED ON FORM 990, NOT FINANCIALS:

Reimbursement from the pension fund for common expenses: $110,632

PART XII, LINE 4B - OTHER EXPENSES INCLUDED ON FORM 990, NOT FINANCIALS:

Reimbursement from the pension fund for common expenses: $110,632

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IRS990/MissionDesc0PAYMENT OF MEDICAL AND DISABILITY BENEFITS ON BEHALF OF PARTICIPANTS AND THEIR BENEFICIARIES UNDER A COLLECTIVE BARGAINING AGREEMENT.
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt055354
IRS990/OtherExpensesGrp/Desc0SEIU LOCAL 32BJ/615-REIMB
IRS990/OtherExpensesGrp/Desc1EXCISE TAX ACA
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IRS990/OtherExpensesGrp/TotalAmt1424
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleD/ExpensesSubtotalAmt07202302
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt0111558
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0815916
IRS990ScheduleD/OtherExpensesNotIncludedAmt0110632
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0110632
IRS990ScheduleD/RevenueNotReportedAmt0815916
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0222190
IRS990ScheduleD/RevenueSubtotalAmt08809760
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Plan and recognize an income tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has evaluated the tax positions taken by the Plan and concluded that as of December 31, 2019 there are no uncertain positions taken or expected to be taken that would require recognition in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. In addition, there have been no tax related interest or penalties for the periods presented in these financial statements.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1REIMBURSEMENT FROM THE PENSION FUND FOR COMMON EXPENSES: $110,632
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2REIMBURSEMENT FROM THE PENSION FUND FOR COMMON EXPENSES: $110,632
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2 - FIN 48 FOOTNOTE:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER REVENUES INCLUDED ON FORM 990, NOT FINANCIALS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER EXPENSES INCLUDED ON FORM 990, NOT FINANCIALS:
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IRS990ScheduleD/TotalLiabilityAmt00
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09625676
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07202302
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1140750
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3ELAINE POMMELLS
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3DIRECTOR OF FINANCE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4CHIEF OPERATING OFFICER
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH & CASH EQUIVALENTS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1RECEIVABLES

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