Civic Intelligence

Excavators Union 731 Welfare Fund

990 • Fiscal year 2016 • EIN 13-1615440

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 24, 2017

34-11 35th AvenueAstoria, NY 11106

(718) 391-9099

Siviq Scores

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

Liabilities / Assets

44th percentile

0.01x

Higher debt load relative to assets than 44% of similar nonprofits.

2016 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

40th percentile

0.03x

Higher debt load relative to revenue than 40% of similar nonprofits.

2016 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2016

Net Margin

81st percentile

21%

Higher net margin than 81% of similar nonprofits.

2016 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

91st percentile

$455,959

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2016 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2016

Asset Growth

83rd percentile

16%

Faster asset growth than 83% of similar nonprofits.

2016 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

77th percentile

14%

Faster revenue growth than 77% of similar nonprofits.

2016 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Assets

Up

$336,387,369

Up $46,211,786 (+16%) from 2015

Net Assets

Up

$332,022,209

Up $46,595,337 (+16%) from 2015

Liabilities

Down

$4,365,160

Down $383,551 (-8.1%) from 2015

Revenue

Up

$164,050,152

Up $20,662,764 (+14%) from 2015

Expenses

Up

$129,077,397

Up $13,409,386 (+12%) from 2015

Net Income

Up

$34,972,755

Up $7,253,378 (+26%) from 2015

Historical Trend

Balance Sheet Trend

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

$1.5B$1.0B$500M$0Assets 2010: $155,000,821Liabilities 2010: $410,596Net Assets 2010: $154,590,2252010Assets 2011: $171,723,974Liabilities 2011: $269,494Net Assets 2011: $171,454,4802011Assets 2012: $195,665,816Liabilities 2012: $281,179Net Assets 2012: $195,384,6372012Assets 2013: $232,087,470Liabilities 2013: $321,231Net Assets 2013: $231,766,2392013Assets 2014: $262,553,457Liabilities 2014: $401,845Net Assets 2014: $262,151,6122014Assets 2015: $290,175,583Liabilities 2015: $4,748,711Net Assets 2015: $285,426,8722015Assets 2016: $336,387,369Liabilities 2016: $4,365,160Net Assets 2016: $332,022,2092016Assets 2017: $422,053,903Liabilities 2017: $5,081,804Net Assets 2017: $416,972,0992017Assets 2018: $453,818,758Liabilities 2018: $1,506,094Net Assets 2018: $452,312,6642018Assets 2019: $594,573,217Liabilities 2019: $6,708,107Net Assets 2019: $587,865,1102019Assets 2020: $729,939,503Liabilities 2020: $5,946,783Net Assets 2020: $723,992,7202020Assets 2021: $855,197,555Liabilities 2021: $5,733,875Net Assets 2021: $849,463,6802021Assets 2022: $763,644,459Liabilities 2022: $5,677,091Net Assets 2022: $757,967,3682022Assets 2023: $931,035,083Liabilities 2023: $5,958,285Net Assets 2023: $925,076,7982023Assets 2024: $1,112,965,398Liabilities 2024: $7,495,267Net Assets 2024: $1,105,470,1312024

Highlighted filing

2016

Assets$336,387,369
Liabilities$4,365,160
Net Assets$332,022,209

Operations Trend

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

$400M$200M$0-$200MExpenses 2010: $85,788,4492010Expenses 2011: $88,490,9772011Expenses 2012: $91,988,9622012Revenue 2013: $130,207,597Expenses 2013: $99,303,493Net Income 2013: $30,904,1042013Revenue 2014: $149,679,666Expenses 2014: $104,584,093Net Income 2014: $45,095,5732014Revenue 2015: $143,387,388Expenses 2015: $115,668,011Net Income 2015: $27,719,3772015Revenue 2016: $164,050,152Expenses 2016: $129,077,397Net Income 2016: $34,972,7552016Revenue 2017: $192,861,487Expenses 2017: $131,085,482Net Income 2017: $61,776,0052017Revenue 2018: $221,125,972Expenses 2018: $153,712,929Net Income 2018: $67,413,0432018Revenue 2019: $256,840,962Expenses 2019: $173,295,875Net Income 2019: $83,545,0872019Revenue 2020: $244,683,666Expenses 2020: $154,710,116Net Income 2020: $89,973,5502020Revenue 2021: $265,733,082Expenses 2021: $179,407,458Net Income 2021: $86,325,6242021Revenue 2022: $148,230,036Expenses 2022: $194,198,359Net Income 2022: -$45,968,3232022Revenue 2023: $317,835,772Expenses 2023: $203,642,189Net Income 2023: $114,193,5832023Revenue 2024: $365,130,478Expenses 2024: $228,448,833Net Income 2024: $136,681,6452024

Highlighted filing

2016

Revenue$164,050,152
Expenses$129,077,397
Net Income$34,972,755
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 24, 2017
Return Version
2016v3.0
Gross Receipts
$398,574,247
Mission and Program Overview

Mission

Collectively bargained multi-employer welfare fund created to provide health & welfare benefits to participants and their dependents

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$285,426,872$332,022,209▲ $46,595,337
Investments in Publicly Traded Securities$252,669,409$298,204,689▲ $45,535,280
Accounts Receivable$18,836,760$21,544,404▲ $2,707,644
Cash and Non-Interest-Bearing Accounts-$8,475,391-
Savings and Temporary Cash Investments$17,027,932$6,299,250▼ $10,728,682
Prepaid Expenses and Deferred Charges$103,038$191,523▲ $88,485
Land, Buildings, and Equipment, Net$86,210$68,883▼ $17,327
Total Assets$290,175,583$336,387,369▲ $46,211,786
Other Assets Total$1,452,234$1,603,229▲ $150,995
Liabilities
Other Liabilities$3,751,699$4,126,326▲ $374,627
Accounts Payable and Accrued Expenses$997,012$238,834▼ $758,178
Total Liabilities$4,748,711$4,365,160▼ $383,551
Net Assets / Fund Balance
Total Net Assets Fund Balance$285,426,872$332,022,209▲ $46,595,337
Total Liabilities and Net Assets / Fund Balance$290,175,583$336,387,369▲ $46,211,786

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$68,883$50,080$118,963
Compensation and Service Providers

Employees

NameTitleOtherTotal
Michael PortoComputer Tec$253,501$253,501
Sebastian RestifoAsst Funds a$241,853$241,853

Board Members and Trustees

NameTitle
Denise RichardsonTrustee
Anthony PiciulloAccounting
Sebastian RestifoAsst Funds Admin
Giovanni LaucellaCollections
Michael PortoComputer Tech
Mark RosenEmpr Tstee
PAUL D'ABBRACCIOFund Mngr
Frank BiancanielloUnion Truste
JOSEPH D'AMATOUnion Truste

Highest Paid Contractors

ContractorServicesLocationCompensation
Blue CrossClaims1 LLIBERY PLAZA, New York, NY 10006$4,983,187
Union NetworkingComputer Servic560 SYLVAN AVENUE, Englewood Cliffs, NJ 07632$268,432
Atalanta SosnoffInvest Mgr101 PARK AVENUE, New York, NY 10178$261,819
Mel FederLegal34-11 35TH AVE, Astoria, NY 11106$257,820
Md SassInvest Mgr1184 AVENUE OF AMERICAS, New York, NY 10036$241,843
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$156,281,676
Investment Income
$7,548,092
Other Revenue
$220,384
Change in Net Assets
$34,972,755

Audited Revenue Reconciliation

Revenue per Audited Statements
$161,955,391
Revenue Not Reported on Financial Statements
$2,094,761
Revenue Not Reported on Form 990
$11,622,582
Other Revenue Adjustments
$1,060,355
Total Revenue per Audited Statements
$173,577,973
Total Revenue per Form 990
$164,050,152
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,392,706
Salaries, Compensation, and Employee Benefits$1,553,859
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$125,130,832--$125,130,832
Fees for Service Investment Mgmnt Fees$1,034,406--$1,034,406
Other Salaries and Wages$911,799--$911,799
Other Employee Benefits$316,274--$316,274
Information Technology$292,756--$292,756
Pension Plan Contributions$260,154--$260,154
Fees for Services Legal$257,820--$257,820
Occupancy$250,980--$250,980
Fees for Services Other$181,421--$181,421
Office Expenses$146,411--$146,411
Fees for Services Accounting$145,646--$145,646
Payroll Taxes$65,632--$65,632
Insurance$56,605--$56,605
Depreciation Depletion$21,451--$21,451
Conferences and Meetings$5,210--$5,210
Total Functional Expenses$129,077,397$0$0$129,077,397

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$129,077,397
Expenses per Audited Statements$128,042,991
Total Expenses per Audited Statements$126,982,636
Expenses Not Reported on Financial Statements$1,034,406
Expenses Not Reported on Form 990$-1,060,355
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
Net Trades Pending Settlement$4,019,529
Due to Related Fund$106,797
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, Page 6, Part VI, Line 11B

Form 990 was reviewed by the governing body & discussed with the accountant

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents and financial statements available to the public upon request

Filing and Contact Details

Filer

Filer Name
Excavators Union 731 Welfare
EIN
13-1615440
Phone
7183919099
Address
34-11 35TH AVENUE, ASTORIA, NY 11106

Signing Officer

Name
PAUL D'ABBRACCIO
Title
Fund Mngr
Phone
7183910430
Signed
2017-10-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
PAUL D'ABBRACCIO
Formed
1950
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
5

Preparer

Firm
Castiglia Llp
Address
66 COMMACK ROAD SUITE 304, COMMACK, NY 11725
Preparer
Robert V Castiglia CPA
Phone
6314867830
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

To provide health & welfare benefit to participants and their dependents

Form 990, Part XI, Line 9

Medicare part d -1,050,355 expenses recovered -10,000 medicare part d 1,050,355 expenses recovered 10,000

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Medicare part d 1,050,355 expenses recovered 10,000

Schedule D, Page 4, Part XII, Line 2D

Medicare part d -1,050,355 expenses recovered -10,000

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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO RELATED FUND
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MEDICARE PART D 1,050,355 EXPENSES RECOVERED 10,000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MEDICARE PART D -1,050,355 EXPENSES RECOVERED -10,000
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm6SEBASTIAN RESTIFO
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1UNION TRUSTE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2FUND MNGR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3COLLECTIONS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4COMPUTER TECH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt5ACCOUNTING
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE HEALTH & WELFARE BENEFIT TO PARTICIPANTS AND THEIR DEPENDENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS REVIEWED BY THE GOVERNING BODY & DISCUSSED WITH THE ACCOUNTANT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEDICARE PART D -1,050,355 EXPENSES RECOVERED -10,000 MEDICARE PART D 1,050,355 EXPENSES RECOVERED 10,000
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,113$7.50$1,105$365$228$137
2023Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$931$5.96$925$318$204$114
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$764$5.68$758$148$194$46.0
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$855$5.73$849$266$179$86.3
2020Detailed filing. Detailed filing data is available for this year.$730$5.95$724$245$155$90.0
2019Detailed filing. Detailed filing data is available for this year.$595$6.71$588$257$173$83.5
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$454$1.51$452$221$154$67.4
2017Detailed filing. Detailed filing data is available for this year.$422$5.08$417$193$131$61.8
2016Detailed filing. Detailed filing data is available for this year.$336$4.37$332$164$129$35.0
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$290$4.75$285$143$116$27.7
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$263$0.40$262$150$105$45.1
2013Detailed filing. Detailed filing data is available for this year.$232$0.32$232$130$99.3$30.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$196$0.28$195$92.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$172$0.27$171$88.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$155$0.41$155$85.8
Peer Organizations

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