Civic Intelligence

Times Publishing Company Welfare Plan Trust

990 • Fiscal year 2015 • EIN 20-2829155

Jan 01, 2015 to Dec 31, 2015 • Filed on Oct 14, 2016

Organization ProfileN/A
205 West 12th StreetErie, PA 16534

(814) 870-1626

Siviq Scores

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

Liabilities / Assets

58th percentile

0.03x

Higher debt load relative to assets than 58% of similar nonprofits.

2015 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

44th percentile

0.00x

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

2015 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2015

Net Margin

30th percentile

-4.4%

Higher net margin than 30% of similar nonprofits.

2015 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2015 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2015

Asset Growth

7th percentile

-52%

Faster asset growth than 7% of similar nonprofits.

2015 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

34th percentile

-3.6%

Faster revenue growth than 34% of similar nonprofits.

2015 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$236,236

Down $255,087 (-52%) from 2014

Net Assets

Down

$229,087

Down $84,097 (-27%) from 2014

Liabilities

Down

$7,149

Down $170,990 (-96%) from 2014

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin30th percentile

Revenue

Down

$1,921,344

Down $72,171 (-3.6%) from 2014

Expenses

Down

$2,005,441

Down $2,563 (-0.1%) from 2014

Net Income

Down

-$84,097

Down $69,608 (-480%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$600K$400K$200K$0Assets 2010: $511,342Liabilities 2010: $125,982Net Assets 2010: $385,3602010Assets 2011: $136,250Liabilities 2011: $93,266Net Assets 2011: $42,9842011Assets 2012: $402,489Liabilities 2012: $186,430Net Assets 2012: $216,0592012Assets 2013: $515,391Liabilities 2013: $187,718Net Assets 2013: $327,6732013Assets 2014: $491,323Liabilities 2014: $178,139Net Assets 2014: $313,1842014Assets 2015: $236,236Liabilities 2015: $7,149Net Assets 2015: $229,0872015Assets 2016: $72,219Liabilities 2016: $0Net Assets 2016: $72,2192016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2015

Assets$236,236
Liabilities$7,149
Net Assets$229,087
Open 2015 Filing

Operations Trend

Revenue Growth34th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,289,8242010Revenue 2011: $2,304,738Expenses 2011: $2,647,114Net Income 2011: -$342,3762011Expenses 2012: $1,983,2082012Revenue 2013: $2,097,994Expenses 2013: $1,986,378Net Income 2013: $111,6162013Revenue 2014: $1,993,515Expenses 2014: $2,008,004Net Income 2014: -$14,4892014Revenue 2015: $1,921,344Expenses 2015: $2,005,441Net Income 2015: -$84,0972015Revenue 2016: $94,352Expenses 2016: $251,220Net Income 2016: -$156,8682016Revenue 2017: $0Expenses 2017: $72,219Net Income 2017: -$72,2192017

Highlighted filing

2015

Revenue$1,921,344
Expenses$2,005,441
Net Income-$84,097
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Oct 14, 2016
Return Version
2015v2.1
Gross Receipts
$1,921,344
Mission and Program Overview

Mission

The filing organization is a trust established under the times publishing company welfare benefit plan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$491,323$236,236▼ $255,087
Rtn Earn Endowment Incm Other Fnds$313,184$229,087▼ $84,097
Total Assets$491,323$236,236▼ $255,087
Liabilities
Accounts Payable and Accrued Expenses$178,139$7,149▼ $170,990
Total Liabilities$178,139$7,149▼ $170,990
Net Assets / Fund Balance
Total Net Assets Fund Balance$313,184$229,087▼ $84,097
Total Liabilities and Net Assets / Fund Balance$491,323$236,236▼ $255,087
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Aaron PhillipsTrustee
Ann KraheTrustee
David BruceTrustee
Edward PalattellaTrustee
Gay CataniaTrustee
Jade ConnersTrustee
John LombardiTrustee/corp
Doreen DuskaAlternate Tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,921,344
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-84,097

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,921,344
Total Revenue per Audited Statements
$1,921,344
Total Revenue per Form 990
$1,921,344
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,878,165
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
Other Expenses$1,867,713--$1,867,713
Benefits to Members$127,276--$127,276
Fees for Services Other-$10,452-$10,452
Total Functional Expenses$1,994,989$10,452$0$2,005,441

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,005,441
Total Expenses per Audited Statements$2,005,441
Total Expenses per Form 990$2,005,441
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
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

“There are six primary voting members of the board of trustees. There are two alternate members who would particpate in a vote in the event a primary voter is unavailable.”

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

“The organization is governed by a trust agreement between the employer and the trustees. The employer and plan sponsor, times publishing company, inc., appoints three trustees. The collective bargaining groups appoint the remaining three trustees. The plan sponsor has been charged with the responsibility to ensure that named fiduciaries are appointed for the plan and that such fiduciaries are responsible for the operation of the plan in accordance with the trust agreement.”

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

“There are no sub-committees of the board of trustees.”

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

“A detailed review of the form 990 is performed by the chief financial officer and the chief administrative officer of times publishing company, inc. Prior to filing with the internal revenue service.”

Form 990, Page 6, Part VI, Line 19

“The organization does not make its governing documents available to the public, however such documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Times Publishing Company Welfare
EIN
20-2829155
Phone
8148701626
Address
205 WEST 12TH STREET, ERIE, PA 16534

Signing Officer

Name
John Lombardi
Title
Trustee/corp Admin
Phone
8148701626
Signed
2016-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aaron Phillips
Formed
2005
Legal Domicile
Pa
Voting Board Members
6
Independent Board Members
0
Employees
0

Preparer

Firm
Schaffner Knight Minnaugh & Co Pc
Address
1545 WEST 38TH STREET, ERIE, PA 16508-2347
Preparer
Matthew J Minnaugh CPA
Phone
8144541997
Supplemental Narrative

Additional Explanations

Form 990, Part XII

“The organization does not have a separate committee that assumes responsibility or oversight of the audit of its financial statements and selection of an independent accountant. However the plan sponsor, times publishing company, inc., does have a corporate board audit committe which determines the independent auditor for the trust. In addition, the finance and human resourses departments of times publishing company, inc. Are actively engaged in this process.”

Financial Statement Notes

Schedule D, Page 3, Part X

“U.s. Gaap requires plan management to evaluate tax positions taken by the plan and recognize a tax liability (or asset) if the plan has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. The plan administrator has analyzed the tax positions taken by the plan, and has concluded that as of december 31, 2015 and 2014, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) 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 periods in progress. The plan administrator believes that the plan is no longer subject to income tax examinations for years prior to 2012.”

Raw XML Appendix319 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE SIX PRIMARY VOTING MEMBERS OF THE BOARD OF TRUSTEES. THERE ARE TWO ALTERNATE MEMBERS WHO WOULD PARTICPATE IN A VOTE IN THE EVENT A PRIMARY VOTER IS UNAVAILABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS GOVERNED BY A TRUST AGREEMENT BETWEEN THE EMPLOYER AND THE TRUSTEES. THE EMPLOYER AND PLAN SPONSOR, TIMES PUBLISHING COMPANY, INC., APPOINTS THREE TRUSTEES. THE COLLECTIVE BARGAINING GROUPS APPOINT THE REMAINING THREE TRUSTEES. THE PLAN SPONSOR HAS BEEN CHARGED WITH THE RESPONSIBILITY TO ENSURE THAT NAMED FIDUCIARIES ARE APPOINTED FOR THE PLAN AND THAT SUCH FIDUCIARIES ARE RESPONSIBLE FOR THE OPERATION OF THE PLAN IN ACCORDANCE WITH THE TRUST AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO SUB-COMMITTEES OF THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A DETAILED REVIEW OF THE FORM 990 IS PERFORMED BY THE CHIEF FINANCIAL OFFICER AND THE CHIEF ADMINISTRATIVE OFFICER OF TIMES PUBLISHING COMPANY, INC. PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC, HOWEVER SUCH DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DOES NOT HAVE A SEPARATE COMMITTEE THAT ASSUMES RESPONSIBILITY OR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. HOWEVER THE PLAN SPONSOR, TIMES PUBLISHING COMPANY, INC., DOES HAVE A CORPORATE BOARD AUDIT COMMITTE WHICH DETERMINES THE INDEPENDENT AUDITOR FOR THE TRUST. IN ADDITION, THE FINANCE AND HUMAN RESOURSES DEPARTMENTS OF TIMES PUBLISHING COMPANY, INC. ARE ACTIVELY ENGAGED IN THIS PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0250839114
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0S CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0SPONSOR
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0TIMES PUBLISHING COMPANY INC
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt01429236
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FUNDING POLICY IN EFFECT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0TIMES PUBLISHING COMPANY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0S
IRS990ScheduleR/TransferFromOtherOrgInd0true
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0491323
IRS990/TotalAssetsEOYAmt0236236
IRS990/TotalAssetsGrp/BOYAmt0491323
IRS990/TotalAssetsGrp/EOYAmt0236236
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010452
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01994989
IRS990/TotalFunctionalExpensesGrp/TotalAmt02005441
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0178139
IRS990/TotalLiabilitiesEOYAmt07149
IRS990/TotalLiabilitiesGrp/BOYAmt0178139
IRS990/TotalLiabilitiesGrp/EOYAmt07149
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0313184
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0229087
IRS990/TotalProgramServiceExpensesAmt01994989
IRS990/TotalProgramServiceRevenueAmt01921344
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01921344
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01921344
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0491323
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0236236
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN LOMBARDI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE/CORP ADMIN
ReturnHeader/BusinessOfficerGrp/PhoneNum08148701626
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-10-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TIMES PUBLISHING COMPANY WELFARE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0PLAN TRUST
ReturnHeader/Filer/BusinessNameControlTxt0TIME
ReturnHeader/Filer/EIN0202829155
ReturnHeader/Filer/PhoneNum08148701626
ReturnHeader/Filer/USAddress/AddressLine1Txt0205 WEST 12TH STREET
ReturnHeader/Filer/USAddress/CityNm0ERIE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd016534
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0251690617
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHAFFNER KNIGHT MINNAUGH & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01545 WEST 38TH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ERIE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0165082347
ReturnHeader/PreparerPersonGrp/PhoneNum08144541997
ReturnHeader/PreparerPersonGrp/PreparationDt02016-10-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW J MINNAUGH CPA
ReturnHeader/ReturnTs02016-10-17T09:06:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$236,236
Liabilities
$7,149
Net assets
$229,087
Revenue
$1,921,344
Expenses
$2,005,441
Net income
-$84,097
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.07$0.07
2016Summary only. Only limited summary data is available for this year.$0.07$0.00$0.07$0.09$0.25$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.24$0.01$0.23$1.92$2.01$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.49$0.18$0.31$1.99$2.01$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.52$0.19$0.33$2.10$1.99$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.19$0.22$1.98
2011Summary only. Only limited summary data is available for this year.$0.14$0.09$0.04$2.30$2.65$0.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.51$0.13$0.39$2.29