Civic Intelligence

Bakery Drivers' Welfare Fund

990 • Fiscal year 2020 • EIN 25-1004658

Nov 01, 2019 to Oct 31, 2020 • Filed on Jul 21, 2021

Organization ProfileN/A

View Organization Page

4240 Steubenville PikePittsburgh, PA 15205

(412) 921-8100

Siviq Scores

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

Liabilities / Assets

71st percentile

0.14x

Higher debt load relative to assets than 71% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

80th percentile

0.19x

Higher debt load relative to revenue than 80% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Net Margin

69th percentile

16%

Higher net margin than 69% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

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

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Asset Growth

62nd percentile

11%

Faster asset growth than 62% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

27th percentile

-10%

Faster revenue growth than 27% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$9,285,112

Up $909,224 (+11%) from 2019

Net Assets

Up

$7,945,492

Up $1,198,286 (+18%) from 2019

Liabilities

Down

$1,339,620

Down $289,062 (-18%) from 2019

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin69th percentile

Revenue

Down

$6,911,964

Down $780,925 (-10%) from 2019

Expenses

Down

$5,826,551

Down $2,564,870 (-31%) from 2019

Net Income

Up

$1,085,413

Up $1,783,945 (+255%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$10M$5.0M$0Assets 2010: $4,757,111Liabilities 2010: $405,258Net Assets 2010: $4,351,8532010Assets 2011: $5,120,396Liabilities 2011: $426,539Net Assets 2011: $4,693,8572011Assets 2012: $5,877,611Liabilities 2012: $596,196Net Assets 2012: $5,281,4152012Assets 2013: $6,194,027Liabilities 2013: $528,533Net Assets 2013: $5,665,4942013Assets 2014: $6,782,330Liabilities 2014: $1,491,323Net Assets 2014: $5,291,0072014Assets 2015: $6,729,452Liabilities 2015: $1,184,318Net Assets 2015: $5,545,1342015Assets 2016: $7,161,741Liabilities 2016: $1,130,876Net Assets 2016: $6,030,8652016Assets 2017: $7,600,491Liabilities 2017: $1,278,455Net Assets 2017: $6,322,0362017Assets 2018: $8,785,573Liabilities 2018: $1,543,767Net Assets 2018: $7,241,8062018Assets 2019: $8,375,888Liabilities 2019: $1,628,682Net Assets 2019: $6,747,2062019Assets 2020: $9,285,112Liabilities 2020: $1,339,620Net Assets 2020: $7,945,4922020Assets 2021: $8,630,942Liabilities 2021: $1,202,796Net Assets 2021: $7,428,1462021Assets 2022: $8,955,034Liabilities 2022: $1,427,945Net Assets 2022: $7,527,0892022Assets 2023: $9,005,848Liabilities 2023: $1,110,473Net Assets 2023: $7,895,3752023Assets 2024: $9,841,571Liabilities 2024: $1,327,198Net Assets 2024: $8,514,3732024

Highlighted filing

2020

Assets$9,285,112
Liabilities$1,339,620
Net Assets$7,945,492
Open 2020 Filing

Operations Trend

Revenue Growth27th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $3,282,1412010Expenses 2011: $3,410,4182011Expenses 2012: $5,497,6932012Expenses 2013: $5,034,2352013Revenue 2014: $6,000,723Expenses 2014: $6,463,026Net Income 2014: -$462,3032014Revenue 2015: $6,212,984Expenses 2015: $5,992,618Net Income 2015: $220,3662015Revenue 2016: $6,009,533Expenses 2016: $5,590,025Net Income 2016: $419,5082016Revenue 2017: $6,152,570Expenses 2017: $5,811,548Net Income 2017: $341,0222017Revenue 2018: $7,332,364Expenses 2018: $6,280,061Net Income 2018: $1,052,3032018Revenue 2019: $7,692,889Expenses 2019: $8,391,421Net Income 2019: -$698,5322019Revenue 2020: $6,911,964Expenses 2020: $5,826,551Net Income 2020: $1,085,4132020Revenue 2021: $6,669,921Expenses 2021: $7,089,685Net Income 2021: -$419,7642021Revenue 2022: $6,341,035Expenses 2022: $5,604,194Net Income 2022: $736,8412022Revenue 2023: $6,385,430Expenses 2023: $6,040,109Net Income 2023: $345,3212023Revenue 2024: $6,322,543Expenses 2024: $5,995,452Net Income 2024: $327,0912024

Highlighted filing

2020

Revenue$6,911,964
Expenses$5,826,551
Net Income$1,085,413
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2019 to Oct 31, 2020
Signed
Jul 21, 2021
Return Version
2019v5.0
Gross Receipts
$8,866,518
Mission and Program Overview

Mission

To provide health & welfare benefits to eligible employees & retirees of employers who are parties to collective bargaining agreements with the former members of Bakery Drivers Local Union 485.

To provide health welfare benefits to eligible employees retirees of employers who are parties to collective bargaining agreements

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,182,037$5,974,843▲ $792,806
Investments in Publicly Traded Securities$1,987,068$1,914,210▼ $72,858
Accounts Receivable$813,928$706,630▼ $107,298
Cash and Non-Interest-Bearing Accounts$350,886$655,767▲ $304,881
Prepaid Expenses and Deferred Charges$4,631$4,631→ $0
Total Assets$8,375,888$9,285,112▲ $909,224
Other Assets Total$37,338$29,031▼ $8,307
Liabilities
Other Liabilities$1,621,874$1,332,502▼ $289,372
Accounts Payable and Accrued Expenses$6,808$7,118▲ $310
Total Liabilities$1,628,682$1,339,620▼ $289,062
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,747,206$7,945,492▲ $1,198,286
Total Net Assets Fund Balance$6,747,206$7,945,492▲ $1,198,286
Total Liabilities and Net Assets / Fund Balance$8,375,888$9,285,112▲ $909,224

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$16,893$16,893
Other Assets Org$29,031--
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Paul TaorminaChair
Christopher SpeersTrustee
Marc DrevesTrustee
Mark SponsellerTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,714,519
Investment Income
$197,445
Other Revenue
$0
Change in Net Assets
$1,085,413

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,903,701
Revenue Not Reported on Financial Statements
$8,263
Revenue Not Reported on Form 990
$112,873
Total Revenue per Audited Statements
$7,016,574
Total Revenue per Form 990
$6,911,964
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$82,863
Other Expenses$71,885
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$5,671,803
Other Salaries and Wages---$73,340
Fees for Services Accounting---$19,049
Fees for Services Legal---$12,674
Fees for Services Other---$10,514
Office Expenses---$9,494
Fees for Service Investment Mgmnt Fees---$8,263
Payroll Taxes---$6,977
Occupancy---$5,762
Insurance---$4,958
Other Employee Benefits---$2,546
Other Expenses---$1,065
Conferences and Meetings---$106
Total Functional Expenses$0$0$0$5,826,551

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,096,308
Total Expenses per Audited Statements$6,096,308
Total Expenses per Form 990$5,826,551
Expenses Not Reported on Financial Statements$-269,757
Other Expense Adjustments$-278,020
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Reserve for Future Elig Benefits$709,000
IBNR Reserve$384,995
Pension Fund Withdrawal Liability$168,693
Exp Postretirement Ben Obligations$67,920
Payroll Taxes$1,894
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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

Part VI Line 11B

“Form 990 is prepared in draft and is intended to be provided to the Board”

Part VI Line 11B

“of Directors for review. Once approved, it is timely filed with the IRS.”

Part VI Line 19

“All information is available upon request.”

Filing and Contact Details

Filer

Filer Name
Bakery Drivers' Welfare Fund
EIN
25-1004658
In Care Of
% Paul Taormina
Phone
4129218100
Address
4240 Steubenville Pike, Pittsburgh, PA 15205

Signing Officer

Name
Paul Taormina
Title
Chair
Phone
4129218100
Signed
2021-07-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Taormina
Formed
1984
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
4
Employees
2

Preparer

Firm
Albanese Sinchar Smith & Co
Address
12875 Route 30, Suite 22, North Huntingdon, PA 15642
Preparer
Joanna L Sinchar
Phone
7248634261
Supplemental Narrative

Financial Statement Notes

P12, Ln 4B

“Change in Plan's Total Benefit Obligations -278,020”

P10, Ln 2

“The Trust established under the Fund to hold the Fund's assets is intended”

P10, Ln 2

“to qualify pursuant to Section 501(c)(9) of the Internal Revenue Code”

P10, Ln 2

“("IRC"), and accordingly, the Trust's net investment income is exempt from”

P10, Ln 2

“income taxes. The Fund has obtained a favorable tax determination letter”

P10, Ln 2

“from the U.S. Treasury Department, Internal Revenue Service dated”

P10, Ln 2

“November 25, 2013. The Trustees of the Fund believe that the Fund, as”

P10, Ln 2

“amended, continues to qualify and to operate in accordance with applicable”

P10, Ln 2

“provision of the Internal Revenue Code.”

P10, Ln 2

“U.S. GAAP requires Fund managment to evaluate tax positions taken by”

P10, Ln 2

“the Fund and recognize a tax liability (or asset) if the Fund has taken”

P10, Ln 2

“uncertain positions that more likely than not would not be sustained upon”

P10, Ln 2

“examination by the Internal Revenue Service. The Fund's Trustees have”

Raw XML Appendix350 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Trust established under the Fund to hold the Fund's assets is intended
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2to qualify pursuant to Section 501(c)(9) of the Internal Revenue Code
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3("IRC"), and accordingly, the Trust's net investment income is exempt from
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4income taxes. The Fund has obtained a favorable tax determination letter
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt5from the U.S. Treasury Department, Internal Revenue Service dated
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt6November 25, 2013. The Trustees of the Fund believe that the Fund, as
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt7amended, continues to qualify and to operate in accordance with applicable
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt8provision of the Internal Revenue Code.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt9U.S. GAAP requires Fund managment to evaluate tax positions taken by
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt10the Fund and recognize a tax liability (or asset) if the Fund has taken
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt11uncertain positions that more likely than not would not be sustained upon
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt12examination by the Internal Revenue Service. The Fund's Trustees have
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0P12, Ln 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1P10, Ln 2
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IRS990ScheduleD/TotalExpensesPerForm990Amt05826551
IRS990ScheduleD/TotalLiabilityAmt01332502
IRS990ScheduleD/TotalRevenuePerForm990Amt06911964
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is prepared in draft and is intended to be provided to the Board
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1of Directors for review. Once approved, it is timely filed with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All information is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08375888
IRS990/TotalAssetsEOYAmt09285112
IRS990/TotalAssetsGrp/BOYAmt08375888
IRS990/TotalAssetsGrp/EOYAmt09285112
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt05826551
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01628682
IRS990/TotalLiabilitiesEOYAmt01339620
IRS990/TotalLiabilitiesGrp/BOYAmt01628682
IRS990/TotalLiabilitiesGrp/EOYAmt01339620
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06747206
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07945492
IRS990/TotalProgramServiceRevenueAmt06714519
IRS990/TotalRevenueGrp/ExclusionAmt0197445
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt06714519
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06911964
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08375888
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09285112
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04240 Steubenville Pike
IRS990/USAddress/CityNm0Pittsburgh
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd015205
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL TAORMINA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum04129218100
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-07-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Bakery Drivers' Welfare Fund
ReturnHeader/Filer/BusinessNameControlTxt0BAKE
ReturnHeader/Filer/EIN0251004658
ReturnHeader/Filer/InCareOfNm0% Paul Taormina
ReturnHeader/Filer/PhoneNum04129218100
ReturnHeader/Filer/USAddress/AddressLine1Txt04240 Steubenville Pike
ReturnHeader/Filer/USAddress/CityNm0Pittsburgh
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd015205
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461686881
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Albanese Sinchar Smith & Co
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012875 Route 30
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0Suite 22
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0North Huntingdon
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd015642
ReturnHeader/PreparerPersonGrp/PhoneNum07248634261
ReturnHeader/PreparerPersonGrp/PreparationDt02021-07-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOANNA L SINCHAR
ReturnHeader/ReturnTs02021-07-21T07:39:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-11-01
ReturnHeader/TaxPeriodEndDt02020-10-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,285,112
Liabilities
$1,339,620
Net assets
$7,945,492
Revenue
$6,911,964
Expenses
$5,826,551
Net income
$1,085,413
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.84$1.33$8.51$6.32$6.00$0.33
2023Detailed filing. Detailed filing data is available for this year.$9.01$1.11$7.90$6.39$6.04$0.35
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.96$1.43$7.53$6.34$5.60$0.74
2021Detailed filing. Detailed filing data is available for this year.$8.63$1.20$7.43$6.67$7.09$0.42
2020Detailed filing. Detailed filing data is available for this year.$9.29$1.34$7.95$6.91$5.83$1.09
2019Detailed filing. Detailed filing data is available for this year.$8.38$1.63$6.75$7.69$8.39$0.70
2018Detailed filing. Detailed filing data is available for this year.$8.79$1.54$7.24$7.33$6.28$1.05
2017Detailed filing. Detailed filing data is available for this year.$7.60$1.28$6.32$6.15$5.81$0.34
2016Detailed filing. Detailed filing data is available for this year.$7.16$1.13$6.03$6.01$5.59$0.42
2015Detailed filing. Detailed filing data is available for this year.$6.73$1.18$5.55$6.21$5.99$0.22
2014Detailed filing. Detailed filing data is available for this year.$6.78$1.49$5.29$6.00$6.46$0.46
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.19$0.53$5.67$5.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.88$0.60$5.28$5.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.12$0.43$4.69$3.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.76$0.41$4.35$3.28