National Elevator Industry Health Benefit Plan

“R. Allen spears is employed by the elevator industry work preservation fund. Larry j. Mcgann is a trustee of the elevator industry work preservation fund; accordingly, they share a business relationship. Steven bruno, terence carr and newton blanhard iv are employed by the international union of elevator constructors. Larry j. Mcgann is an officer of the international union of elevator constructors; accordingly, they share a business relationship.”

“The international union of elevator constructors has the power to appoint five (5) trustees for the national elevator industry health benefit plan. The national elevator industry inc. Has the power to appoint five (5) trustees for the national elevator industry health benefit plan.”

“There are no committees with the authority to act on behalf of the governing body.”

“Form 990 is reviewed by the chairman and co-chairman of the board of trustees and the executive director prior to filing for accuracy with the activities of the trust during the year.”

“The plan does not make its governing documents and financial statements available to the general public.”

“The international union of elevator constructors and the national elevator industry, inc. Are deemed sponsoring organizations of the plan for form 990 purposes and therefore are listed in schedule r as related organizations. Part vii, section a and schedule j include any compensation and average hours per week for individuals listed on this schedule from these two related organizations. Other related organizations reported in schedule r consist of contributing employers of the plan, which is a veba, and any compensation or average hours worked per week for individuals listed in part vii, section a, as employees of contributing employers, are not included. Similarly, other information, such as whether voting members of the governing body are independent, is based on the assesment as above.”

“The plan does not issue forms w-2 to any employees and shares certain staff with the national elevator industry pension plan which is considered by the form 990 instructions to be a related organization only as a contributing employer to the plan, which is a veba. These staff are paid through essentially a paymaster arrangement that functions as the staff's employer and issues forms w-2 and complies with applicable payroll reporting and related requirements. Accordingly, the plan's allocated portion of the costs related to this sharing is reported on form 990, including on part ix, line 5 through 10.”

“The approval and responsibility processes for the oversight of the audit of the finanial statements has not changed from the prior year.”

“The plan is an employee benefit plan that files the report of foreign bank and financial accounts. The plan files fincen form 114 under e.i.n. 23-2790911, which is the e.i.n. The plan uses to file form 5500, annual return/report of employee benefit plan.”

“The plan's investment program includes cash management procedures that maximize earnings on temporary balances by immediately purchasing short term investment vehicles upon the receipt of essentially all principal and interest transactions. This necessitates the selling of such assets for each purpose of longer-term investments. This cash management activity is not included in part viii, line 7 and is not considered to constitute transactions addressed by part iv, line 32.”