Civic Intelligence

Laborers Local No 91 Welfare Fund

990 • Fiscal year 2014 • EIN 16-0776158

Jun 01, 2013 to May 31, 2014 • Filed on Mar 24, 2015

4500 Witmer Industrial Estates14305

(716) 297-6001

Siviq Scores

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

Liabilities / Assets

60th percentile

0.05x

Higher debt load relative to assets than 60% of similar nonprofits.

2014 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

53rd percentile

0.02x

Higher debt load relative to revenue than 53% of similar nonprofits.

2014 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2014

Net Margin

76th percentile

17%

Higher net margin than 76% of similar nonprofits.

2014 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

89th percentile

$194,281

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2014 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2014

Asset Growth

94th percentile

66%

Faster asset growth than 94% of similar nonprofits.

2014 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

88th percentile

28%

Faster revenue growth than 88% of similar nonprofits.

2014 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$2,125,891

Up $848,462 (+66%) from 2013

Net Assets

Up

$2,028,045

Up $783,993 (+63%) from 2013

Liabilities

Up

$97,846

Up $64,469 (+193%) from 2013

Revenue

Up

$4,728,029

Up $1,026,044 (+28%) from 2013

Expenses

Up

$3,940,007

Up $164,944 (+4.4%) from 2013

Net Income

Up

$788,022

Up $861,100 (+1178%) from 2013

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,088,884Liabilities 2010: $43,648Net Assets 2010: $1,045,2362010Assets 2011: $1,165,542Liabilities 2011: $94,130Net Assets 2011: $1,071,4122011Assets 2012: $1,416,063Liabilities 2012: $78,620Net Assets 2012: $1,337,4432012Assets 2013: $1,277,429Liabilities 2013: $33,377Net Assets 2013: $1,244,0522013Assets 2014: $2,125,891Liabilities 2014: $97,846Net Assets 2014: $2,028,0452014Assets 2015: $3,749,009Liabilities 2015: $574,484Net Assets 2015: $3,174,5252015Assets 2016: $3,429,989Liabilities 2016: $43,215Net Assets 2016: $3,386,7742016Assets 2017: $3,553,720Liabilities 2017: $47,016Net Assets 2017: $3,506,7042017Assets 2018: $4,047,945Liabilities 2018: $103,356Net Assets 2018: $3,944,5892018Assets 2019: $4,640,069Liabilities 2019: $187,988Net Assets 2019: $4,452,0812019Assets 2020: $5,142,117Liabilities 2020: $102,890Net Assets 2020: $5,039,2272020Assets 2021: $5,448,257Liabilities 2021: $146,098Net Assets 2021: $5,302,1592021Assets 2022: $5,622,167Liabilities 2022: $87,065Net Assets 2022: $5,535,1022022Assets 2023: $6,042,996Liabilities 2023: $115,731Net Assets 2023: $5,927,2652023Assets 2024: $6,717,919Liabilities 2024: $158,945Net Assets 2024: $6,558,9742024Assets 2025: $7,513,092Liabilities 2025: $165,634Net Assets 2025: $7,347,4582025

Highlighted filing

2014

Assets$2,125,891
Liabilities$97,846
Net Assets$2,028,045

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $4,380,5212010Expenses 2011: $4,376,5772011Expenses 2012: $4,045,1922012Revenue 2013: $3,701,985Expenses 2013: $3,775,063Net Income 2013: -$73,0782013Revenue 2014: $4,728,029Expenses 2014: $3,940,007Net Income 2014: $788,0222014Revenue 2015: $5,361,599Expenses 2015: $4,202,504Net Income 2015: $1,159,0952015Revenue 2016: $4,582,191Expenses 2016: $4,297,622Net Income 2016: $284,5692016Revenue 2017: $3,481,149Expenses 2017: $3,616,247Net Income 2017: -$135,0982017Revenue 2018: $4,157,176Expenses 2018: $3,682,211Net Income 2018: $474,9652018Revenue 2019: $3,988,164Expenses 2019: $3,529,465Net Income 2019: $458,6992019Revenue 2020: $4,151,569Expenses 2020: $3,668,699Net Income 2020: $482,8702020Revenue 2021: $3,265,778Expenses 2021: $3,263,469Net Income 2021: $2,3092021Revenue 2022: $3,805,753Expenses 2022: $3,327,913Net Income 2022: $477,8402022Revenue 2023: $3,773,072Expenses 2023: $3,253,948Net Income 2023: $519,1242023Revenue 2024: $3,474,809Expenses 2024: $3,098,328Net Income 2024: $376,4812024Revenue 2025: $4,086,695Expenses 2025: $3,356,103Net Income 2025: $730,5922025

Highlighted filing

2014

Revenue$4,728,029
Expenses$3,940,007
Net Income$788,022
Jump To
Filing Snapshot
Filing Period
Jun 1, 2013 to May 31, 2014
Signed
Mar 24, 2015
Return Version
2013v4.0
Gross Receipts
$4,852,527
Mission and Program Overview

Mission

To provide participants with health and welfare benefits.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,244,052$2,028,045▲ $783,993
Cash and Non-Interest-Bearing Accounts$158,003$898,776▲ $740,773
Accounts Receivable$581,316$664,152▲ $82,836
Investments in Publicly Traded Securities$299,793$304,216▲ $4,423
Investments Other Securities$188,008$186,944▼ $1,064
Land, Buildings, and Equipment, Net$42,341$62,417▲ $20,076
Savings and Temporary Cash Investments$7,968$9,386▲ $1,418
Total Assets$1,277,429$2,125,891▲ $848,462
Liabilities
Accounts Payable and Accrued Expenses$33,377$97,846▲ $64,469
Total Liabilities$33,377$97,846▲ $64,469
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,244,052$2,028,045▲ $783,993
Total Liabilities and Net Assets / Fund Balance$1,277,429$2,125,891▲ $848,462

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$62,417$108,741$171,158
Other Securities$10,324--
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
William GraceAdministrato$86,305$81,716$168,021
Michael PalladinoTrustee$139$805$163,750
Mario NeriTrustee-$10,145$10,145
Richard PalladinoCo-chairman$85,500$77,584$139

Board Members and Trustees

NameTitle
Donald SmithChairman
Angelo MassaroTrustee
Anthony MajkaTrustee
Douglas MayTrustee
Hector TitusTrustee (for
William GraceAdministrator
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,709,054
Investment Income
$11,932
Other Revenue
$7,043
Change in Net Assets
$788,022

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,725,334
Revenue Not Reported on Financial Statements
$2,695
Revenue Not Reported on Form 990
$-4,029
Total Revenue per Audited Statements
$4,721,305
Total Revenue per Form 990
$4,728,029
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$258,726
Other Expenses$129,096
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$3,552,185
Current Officers, Directors, Trustees, and Key Employees---$121,834
Pension Plan Contributions---$60,662
Other Salaries and Wages---$60,553
Fees for Services Accounting---$28,568
Information Technology---$20,229
Depreciation Depletion---$17,873
Occupancy---$16,200
Fees for Services Legal---$13,143
Fees for Services Other---$12,924
Payroll Taxes---$10,062
Office Expenses---$7,685
Other Employee Benefits---$5,615
Fees for Service Investment Mgmnt Fees---$2,695
Insurance---$1,670
Other Expenses---$815
Conferences and Meetings---$163
Total Functional Expenses$0$0$0$3,940,007

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,940,007
Expenses per Audited Statements$3,937,312
Total Expenses per Audited Statements$3,937,312
Expenses Not Reported on Financial Statements$2,695
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
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 2

Miachael palladino richard palladino trustee chairman brothers

Form 990, Page 6, Part VI, Line 7A

Members elect the union business manager who then automatically becomes a union representative on the board of trustees. The business manager then appoints two other union trustees.

Form 990, Page 6, Part VI, Line 9

Angelo massaro 631 main street, suite 1 niagara falls, ny 14301

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

Form 990 is provided to the fund administrator for review and approval prior to filing. The board of trustees also receives a copy of the form prior to filing for review and comment.

Form 990, Page 6, Part VI, Line 12C

Issues regarding conflicts of interest are discussed annually at a board of trustees meeting.

Form 990, Page 6, Part VI, Line 15A

The compensation amount is discussed at trustee meetings and approved by the board of trustees.

Form 990, Page 6, Part VI, Line 15B

The compensation amount is discussed at trustee meetings and approved by the board of trustees.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents and financial statements available to participants upon request. The full report can be copied at the benefit funds office at a participant's request for a nominal fee.

Form 990, Part VII

Trustees who received a w-2 from the fund is due to having received taxable benefits from the fund in accordance with the plan of benefits. No trustees were compensated for holding the position of trustee. Of the compensation noted for mr. Grace, 805 is for benefits paid as a participant in the plan.

Filing and Contact Details

Filer

EIN
16-0776158
Phone
7162976001

Signing Officer

Name
William M Grace
Title
Administrator
Phone
7162976001
Signed
2015-03-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William M Grace
Formed
1972
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
4
Employees
3

Preparer

Preparer
David Arcara
Phone
7166342722
Supplemental Narrative

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 tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Plan management has analyzed the tax positions taken by the plan, and has concluded that as of may 31, 2014 there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. Plan management believes that the plan is no longer subject to income tax examination for the years prior to may 31, 2011.

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IRS990ScheduleD/OtherSecuritiesGrp/Desc0TIER REIT, INC.
IRS990ScheduleD/OtherSecuritiesGrp/Desc1COLUMBIA PROPERTY TRUST, INC.
IRS990ScheduleD/OtherSecuritiesGrp/Desc2TREMONT MARKET OPPORTUNITY FUND II L
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
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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 ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. PLAN MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF MAY 31, 2014 THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOD IN PROGRESS. PLAN MANAGEMENT BELIEVES THAT THE PLAN IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION FOR THE YEARS PRIOR TO MAY 31, 2011.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RICHARD PALLADINO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1MICHAEL PALLADINO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2WILLIAM GRACE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CO-CHAIRMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2ADMINISTRATOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MIACHAEL PALLADINO RICHARD PALLADINO TRUSTEE CHAIRMAN BROTHERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT THE UNION BUSINESS MANAGER WHO THEN AUTOMATICALLY BECOMES A UNION REPRESENTATIVE ON THE BOARD OF TRUSTEES. THE BUSINESS MANAGER THEN APPOINTS TWO OTHER UNION TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANGELO MASSARO 631 MAIN STREET, SUITE 1 NIAGARA FALLS, NY 14301
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS PROVIDED TO THE FUND ADMINISTRATOR FOR REVIEW AND APPROVAL PRIOR TO FILING. THE BOARD OF TRUSTEES ALSO RECEIVES A COPY OF THE FORM PRIOR TO FILING FOR REVIEW AND COMMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ISSUES REGARDING CONFLICTS OF INTEREST ARE DISCUSSED ANNUALLY AT A BOARD OF TRUSTEES MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE COMPENSATION AMOUNT IS DISCUSSED AT TRUSTEE MEETINGS AND APPROVED BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE COMPENSATION AMOUNT IS DISCUSSED AT TRUSTEE MEETINGS AND APPROVED BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO PARTICIPANTS UPON REQUEST. THE FULL REPORT CAN BE COPIED AT THE BENEFIT FUNDS OFFICE AT A PARTICIPANT'S REQUEST FOR A NOMINAL FEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8TRUSTEES WHO RECEIVED A W-2 FROM THE FUND IS DUE TO HAVING RECEIVED TAXABLE BENEFITS FROM THE FUND IN ACCORDANCE WITH THE PLAN OF BENEFITS. NO TRUSTEES WERE COMPENSATED FOR HOLDING THE POSITION OF TRUSTEE. OF THE COMPENSATION NOTED FOR MR. GRACE, 805 IS FOR BENEFITS PAID AS A PARTICIPANT IN THE PLAN.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART VII
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.51$0.17$7.35$4.09$3.36$0.73
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.72$0.16$6.56$3.47$3.10$0.38
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.04$0.12$5.93$3.77$3.25$0.52
2022Detailed filing. Detailed filing data is available for this year.$5.62$0.09$5.54$3.81$3.33$0.48
2021Detailed filing. Detailed filing data is available for this year.$5.45$0.15$5.30$3.27$3.26$0.00
2020Detailed filing. Detailed filing data is available for this year.$5.14$0.10$5.04$4.15$3.67$0.48
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.64$0.19$4.45$3.99$3.53$0.46
2018Detailed filing. Detailed filing data is available for this year.$4.05$0.10$3.94$4.16$3.68$0.47
2017Detailed filing. Detailed filing data is available for this year.$3.55$0.05$3.51$3.48$3.62$0.14
2016Detailed filing. Detailed filing data is available for this year.$3.43$0.04$3.39$4.58$4.30$0.28
2015Detailed filing. Detailed filing data is available for this year.$3.75$0.57$3.17$5.36$4.20$1.16
2014Detailed filing. Detailed filing data is available for this year.$2.13$0.10$2.03$4.73$3.94$0.79
2013Summary only. Only limited summary data is available for this year.$1.28$0.03$1.24$3.70$3.78$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$0.08$1.34$4.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.09$1.07$4.38
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$0.04$1.05$4.38