Civic Intelligence

Plumbers Local Union No 1 Additional Security Benefit Fund

990 • Fiscal year 2015 • EIN 11-1870373

Jan 01, 2015 to Dec 31, 2015 • Filed on Sep 28, 2016

50-02 5th street 2nd floorLong Island City, NY 11101

(718) 835-2700

Siviq Scores

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

Liabilities / Assets

41st percentile

0.01x

Higher debt load relative to assets than 41% of similar nonprofits.

2015 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

81st percentile

0.23x

Higher debt load relative to revenue than 81% of similar nonprofits.

2015 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2015

Net Margin

2nd percentile

-133%

Higher net margin than 2% of similar nonprofits.

2015 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

91st percentile

$328,439

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 9.5% of source-year revenue.

2015 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2015

Asset Growth

16th percentile

-9.2%

Faster asset growth than 16% of similar nonprofits.

2015 filings • 501(c)9 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

5th percentile

-45%

Faster revenue growth than 5% of similar nonprofits.

2015 filings • 501(c)9 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Down

$73,041,262

Down $7,439,589 (-9.2%) from 2014

Net Assets

Down

$72,254,003

Down $7,135,426 (-9.0%) from 2014

Liabilities

Down

$787,259

Down $304,163 (-28%) from 2014

Revenue

Down

$3,462,756

Down $2,794,097 (-45%) from 2014

Expenses

Down

$8,069,517

Down $1,467,444 (-15%) from 2014

Net Income

Down

-$4,606,761

Down $1,326,653 (-40%) from 2014

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $85,548,659Liabilities 2010: $251,577Net Assets 2010: $85,297,0822010Assets 2011: $82,325,423Liabilities 2011: $273,799Net Assets 2011: $82,051,6242011Assets 2012: $83,097,885Liabilities 2012: $247,743Net Assets 2012: $82,850,1422012Assets 2013: $83,355,494Liabilities 2013: $1,464,621Net Assets 2013: $81,890,8732013Assets 2014: $80,480,851Liabilities 2014: $1,091,422Net Assets 2014: $79,389,4292014Assets 2015: $73,041,262Liabilities 2015: $787,259Net Assets 2015: $72,254,0032015Assets 2016: $70,736,385Liabilities 2016: $413,794Net Assets 2016: $70,322,5912016Assets 2017: $73,289,895Liabilities 2017: $410,814Net Assets 2017: $72,879,0812017Assets 2018: $65,491,699Liabilities 2018: $385,207Net Assets 2018: $65,106,4922018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2015

Assets$73,041,262
Liabilities$787,259
Net Assets$72,254,003

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $13,560,5652010Expenses 2011: $12,077,5432011Expenses 2012: $10,253,3842012Revenue 2013: $6,196,568Expenses 2013: $9,233,581Net Income 2013: -$3,037,0132013Revenue 2014: $6,256,853Expenses 2014: $9,536,961Net Income 2014: -$3,280,1082014Revenue 2015: $3,462,756Expenses 2015: $8,069,517Net Income 2015: -$4,606,7612015Revenue 2016: $4,511,330Expenses 2016: $6,226,787Net Income 2016: -$1,715,4572016Revenue 2017: $3,304,388Expenses 2017: $5,622,399Net Income 2017: -$2,318,0112017Revenue 2018: $2,731,481Expenses 2018: $5,328,579Net Income 2018: -$2,597,0982018Revenue 2019: $2,171,373Expenses 2019: $5,547,138Net Income 2019: -$3,375,7652019

Highlighted filing

2015

Revenue$3,462,756
Expenses$8,069,517
Net Income-$4,606,761
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Sep 28, 2016
Return Version
2015v2.1
Gross Receipts
$17,660,287
Mission and Program Overview

Mission

The fund provides benefits, including medical, surgical, hospitalization, death, disability, dental, prescription, vision, unemployment and vacation benefits to eligible members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$79,389,429$72,254,003▼ $7,135,426
Investments Other Securities$66,482,015$59,145,631▼ $7,336,384
Investments in Publicly Traded Securities$11,721,682$12,013,386▲ $291,704
Cash and Non-Interest-Bearing Accounts$866,471$1,235,768▲ $369,297
Savings and Temporary Cash Investments$220,948$333,574▲ $112,626
Accounts Receivable$1,093,136$242,443▼ $850,693
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$80,480,851$73,041,262▼ $7,439,589
Other Assets Total$96,599$70,460▼ $26,139
Liabilities
Other Liabilities$975,293$671,304▼ $303,989
Accounts Payable and Accrued Expenses$116,129$115,955▼ $174
Total Liabilities$1,091,422$787,259▼ $304,163
Net Assets / Fund Balance
Total Net Assets Fund Balance$79,389,429$72,254,003▼ $7,135,426
Total Liabilities and Net Assets / Fund Balance$80,480,851$73,041,262▼ $7,439,589

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$10,722,222--
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Walter SaraceniAdministrator$43,276$10,321$53,597

Board Members and Trustees

NameTitle
John J MurphyTrustee/co-chairman
Vito GiachettiTrustee/co-chairman
Daniel LucarelliTrustee
Eugene BoccieriTrustee
Louis J ButtermarkTrustee
Michael ApuzzoTrustee
Thomas ManiuszkoTrustee
paul o'connortRUSTEE
Donald DohertyTrustee (p)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,921,330
Investment Income
$1,541,426
Other Revenue
$0
Change in Net Assets
$-4,606,761

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,209,562
Revenue Not Reported on Financial Statements
$253,194
Revenue Not Reported on Form 990
$-2,528,665
Total Revenue per Audited Statements
$680,897
Total Revenue per Form 990
$3,462,756
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$689,724
Salaries, Compensation, and Employee Benefits$446,019
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$6,933,774
Fees for Service Investment Mgmnt Fees---$253,194
Other Salaries and Wages---$226,840
Fees for Services Accounting---$119,211
Fees for Services Legal---$102,556
Other Employee Benefits---$97,884
Office Expenses---$78,301
Current Officers, Directors, Trustees, and Key Employees---$53,597
Pension Plan Contributions---$41,919
Information Technology---$28,743
Insurance---$26,499
Payroll Taxes---$25,779
Occupancy---$19,550
Other Expenses---$17,235
Fees for Services Other---$2,637
Conferences and Meetings---$928
Total Functional Expenses$0$0$0$8,069,517

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,069,517
Expenses per Audited Statements$7,816,323
Total Expenses per Audited Statements$7,816,323
Expenses Not Reported on Financial Statements$253,194
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
DUE TO PLUMBERS LOCAL UNION NO. 1 WELFARE Fund$373,675
Cash Overdraft$280,616
DUE TO PLUMBERS LOCAL UNION NO. 1 Trade Education fund$17,013
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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, Part VI, Section B, line 11

Plumbers local union no. 1 additional security benefit fund's form 990 was provided at a meeting to the board of trustees for review prior to filing.

Form 990, Part VI, Section C, line 19

Plumbers local union no. 1 additional security benefit fund's governing documents and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Plumbers Local Union No 1
EIN
11-1870373
Phone
7188352700
Address
50-02 5th street 2nd floor, LONG ISLAND CITY, NY 11101

Signing Officer

Name
John J Murphy
Title
Trustee
Phone
7188352700
Signed
2016-09-28

Organization Details

Principal Officer
John J Murphy
Formed
1959
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
1,079
Volunteers
0

Preparer

Firm
Novak Francella LLC
Address
ONE PRESIDENTIAL BLVD SUITE 330, BALA CYNWYD, PA 19004
Preparer
Louis Verzella CPA
Phone
6106689400
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

Plumbers local union no. 1 additional security benefit fund's board of trustees is responsible for overseeing the financial statement audit and selection of the independent accountant who performs the audit.

FORM 990, PART V, LINE 2A:

Forms w-2 prepared by plumbers local union no. 1 additional security benefit fund are for taxable benefits received by participants. The fund does not have any employees.

Financial Statement Notes

Part X, Line 2:

Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that, more likely than not, would not be sustained upon examination by the U.S. Federal, state, or local taxing authorities. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Typically, plan tax years will remain open for three years; however, this may differ depending upon the circumstances of the Plan.

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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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IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO PLUMBERS LOCAL UNION NO. 1 WELFARE Fund
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CASH OVERDRAFT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO PLUMBERS LOCAL UNION NO. 1 Trade Education fund
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt138310297
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt25402422
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt310722222
IRS990ScheduleD/OtherSecuritiesGrp/Desc0POOLED SEPARATE ACCOUNT
IRS990ScheduleD/OtherSecuritiesGrp/Desc1COMMON COLLECTIVE TRUST
IRS990ScheduleD/OtherSecuritiesGrp/Desc2COMMINGLED FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc3Partnership
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
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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 tax liability if the Plan has taken an uncertain position that, more likely than not, would not be sustained upon examination by the U.S. Federal, state, or local taxing authorities. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Typically, plan tax years will remain open for three years; however, this may differ depending upon the circumstances of the Plan.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0185597
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1214120
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2110972
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3170676
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt4174672
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt181113
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt241636
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt518164
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt133206
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MICHAEL APUZZO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JOHN J MURPHY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2DONALD DOHERTY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3DANIEL LUCARELLI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4paul o'connor
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm5WALTER SARACENI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRUSTEE/CO-CHAIRMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2TRUSTEE (P)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4tRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt5ADMINISTRATOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt5226445
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PLUMBERS LOCAL UNION NO. 1 ADDITIONAL SECURITY BENEFIT FUND'S FORM 990 WAS PROVIDED AT A MEETING TO THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PLUMBERS LOCAL UNION NO. 1 ADDITIONAL SECURITY BENEFIT FUND'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PLUMBERS LOCAL UNION NO. 1 ADDITIONAL SECURITY BENEFIT FUND'S BOARD OF TRUSTEES IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT WHO PERFORMS THE AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORMS W-2 PREPARED BY PLUMBERS LOCAL UNION NO. 1 ADDITIONAL SECURITY BENEFIT FUND ARE FOR TAXABLE BENEFITS RECEIVED BY PARTICIPANTS. THE FUND DOES NOT HAVE ANY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XII, LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART V, LINE 2A:
IRS990ScheduleR/AssetExchangeInd00

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