Civic Intelligence

Bakery Drivers' Welfare Fund

990 • Fiscal year 2021 • EIN 25-1004658

Nov 01, 2020 to Oct 31, 2021 • Filed on Jul 25, 2022

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

73rd percentile

0.14x

Higher debt load relative to assets than 73% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

81st percentile

0.18x

Higher debt load relative to revenue than 81% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Net Margin

24th percentile

-6.3%

Higher net margin than 24% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Asset Growth

20th percentile

-7.0%

Faster asset growth than 20% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

31st percentile

-3.5%

Faster revenue growth than 31% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$8,630,942

Down $654,170 (-7.0%) from 2020

Net Assets

Down

$7,428,146

Down $517,346 (-6.5%) from 2020

Liabilities

Down

$1,202,796

Down $136,824 (-10%) from 2020

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin24th percentile

Revenue

Down

$6,669,921

Down $242,043 (-3.5%) from 2020

Expenses

Up

$7,089,685

Up $1,263,134 (+22%) from 2020

Net Income

Down

-$419,764

Down $1,505,177 (-139%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth20th 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

2021

Assets$8,630,942
Liabilities$1,202,796
Net Assets$7,428,146
Open 2021 Filing

Operations Trend

Revenue Growth31st 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

2021

Revenue$6,669,921
Expenses$7,089,685
Net Income-$419,764
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2020 to Oct 31, 2021
Signed
Jul 25, 2022
Return Version
2020v4.0
Gross Receipts
$7,822,383
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$5,974,843$5,559,584▼ $415,259
Investments in Publicly Traded Securities$1,914,210$1,758,595▼ $155,615
Accounts Receivable$706,630$675,051▼ $31,579
Cash and Non-Interest-Bearing Accounts$655,767$606,944▼ $48,823
Prepaid Expenses and Deferred Charges$4,631$4,631→ $0
Land, Buildings, and Equipment, Net-$1,197-
Total Assets$9,285,112$8,630,942▼ $654,170
Other Assets Total$29,031$24,940▼ $4,091
Liabilities
Other Liabilities$1,332,502$1,197,306▼ $135,196
Accounts Payable and Accrued Expenses$7,118$5,490▼ $1,628
Total Liabilities$1,339,620$1,202,796▼ $136,824
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,945,492$7,428,146▼ $517,346
Total Net Assets Fund Balance$7,945,492$7,428,146▼ $517,346
Total Liabilities and Net Assets / Fund Balance$9,285,112$8,630,942▼ $654,170

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,197$16,956$18,153
Other Assets Org$24,940--
Compensation and Service Providers
Top Officer Pay49th 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
$6,515,027
Investment Income
$154,894
Other Revenue
$0
Change in Net Assets
$-419,764

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,661,702
Revenue Not Reported on Financial Statements
$8,219
Revenue Not Reported on Form 990
$-97,582
Total Revenue per Audited Statements
$6,564,120
Total Revenue per Form 990
$6,669,921
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$84,310
Other Expenses$74,510
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$6,930,865
Other Salaries and Wages---$75,221
Fees for Services Accounting---$19,050
Fees for Services Legal---$12,500
Office Expenses---$11,701
Fees for Services Other---$10,557
Fees for Service Investment Mgmnt Fees---$8,219
Payroll Taxes---$6,172
Occupancy---$6,000
Insurance---$4,980
Pension Plan Contributions---$2,257
Other Employee Benefits---$660
Conferences and Meetings---$90
Depreciation Depletion---$63
Total Functional Expenses$0$0$0$7,089,685

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,205,986
Total Expenses per Audited Statements$7,205,986
Total Expenses per Form 990$7,089,685
Expenses Not Reported on Financial Statements$-116,301
Other Expense Adjustments$-124,520
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$528,000
IBNR Reserve$430,995
Pension Fund Withdrawal Liability$157,906
Exp Postretirement Ben Obligations$78,400
Payroll Taxes$2,005
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
Chairman Trustee
Phone
4129218100
Signed
2022-07-25
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 Obligation -124,520”

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 invetment 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

“provisions of the Internal Revenue Code.”

P10, Ln 2

“U.S. GAAP requries Fund management 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”

Raw XML Appendix360 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/ExplanationTxt0Change in Plan's Total Benefit Obligation -124,520
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 invetment 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/ExplanationTxt8provisions of the Internal Revenue Code.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt9U.S. GAAP requries Fund management 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
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc11P10, Ln 2
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt024940
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IRS990ScheduleD/TotalLiabilityAmt01197306
IRS990ScheduleD/TotalRevenuePerForm990Amt06669921
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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/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt07089685
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IRS990/TotalLiabilitiesBOYAmt01339620
IRS990/TotalLiabilitiesEOYAmt01202796
IRS990/TotalLiabilitiesGrp/BOYAmt01339620
IRS990/TotalLiabilitiesGrp/EOYAmt01202796
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IRS990/TotalProgramServiceRevenueAmt06515027
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06669921
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08630942
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/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL TAORMINA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman Trustee
ReturnHeader/BusinessOfficerGrp/PhoneNum04129218100
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-07-25
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/PreparationDt02022-07-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOANNA L SINCHAR
ReturnHeader/ReturnTs02022-07-25T14:18:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PAUL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TAORMINA
ReturnHeader/TaxPeriodBeginDt02020-11-01
ReturnHeader/TaxPeriodEndDt02021-10-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,630,942
Liabilities
$1,202,796
Net assets
$7,428,146
Revenue
$6,669,921
Expenses
$7,089,685
Net income
-$419,764
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