Civic Intelligence

Bakery Drivers' Welfare Fund

990 • Fiscal year 2023 • EIN 25-1004658

Nov 01, 2022 to Oct 31, 2023 • Filed on Aug 14, 2024

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

70th percentile

0.12x

Higher debt load relative to assets than 70% of similar nonprofits.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

75th percentile

0.17x

Higher debt load relative to revenue than 75% of similar nonprofits.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2023

Net Margin

57th percentile

5.4%

Higher net margin than 57% of similar nonprofits.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2023

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.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2023

Asset Growth

33rd percentile

0.6%

Faster asset growth than 33% of similar nonprofits.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

39th percentile

0.7%

Faster revenue growth than 39% of similar nonprofits.

2023 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$9,005,848

Up $50,814 (+0.6%) from 2022

Net Assets

Up

$7,895,375

Up $368,286 (+4.9%) from 2022

Liabilities

Down

$1,110,473

Down $317,472 (-22%) from 2022

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin57th percentile

Revenue

Up

$6,385,430

Up $44,395 (+0.7%) from 2022

Expenses

Up

$6,040,109

Up $435,915 (+7.8%) from 2022

Net Income

Down

$345,321

Down $391,520 (-53%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2023

Assets$9,005,848
Liabilities$1,110,473
Net Assets$7,895,375
Open 2023 Filing

Operations Trend

Revenue Growth39th 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

2023

Revenue$6,385,430
Expenses$6,040,109
Net Income$345,321
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2022 to Oct 31, 2023
Signed
Aug 14, 2024
Return Version
2022v5.0
Gross Receipts
$7,889,605
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$5,614,299$5,868,949▲ $254,650
Investments in Publicly Traded Securities$1,853,797$1,910,181▲ $56,384
Cash and Non-Interest-Bearing Accounts$576,898$595,972▲ $19,074
Accounts Receivable$857,849$568,516▼ $289,333
Prepaid Expenses and Deferred Charges$4,631$4,631→ $0
Land, Buildings, and Equipment, Net$945$693▼ $252
Total Assets$8,955,034$9,005,848▲ $50,814
Other Assets Total$46,615$56,906▲ $10,291
Liabilities
Other Liabilities$1,421,476$1,105,009▼ $316,467
Accounts Payable and Accrued Expenses$6,469$5,464▼ $1,005
Total Liabilities$1,427,945$1,110,473▼ $317,472
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,527,089$7,895,375▲ $368,286
Total Net Assets Fund Balance$7,527,089$7,895,375▲ $368,286
Total Liabilities and Net Assets / Fund Balance$8,955,034$9,005,848▲ $50,814

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$693$17,460$18,153
Other Assets Org$56,906--
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Paul TaorminaChair
Christopher SpeersTrustee
Emory P EicherTrustee
Mark SponsellerTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,129,541
Investment Income
$255,889
Other Revenue
$0
Change in Net Assets
$345,321

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,377,269
Revenue Not Reported on Financial Statements
$8,161
Revenue Not Reported on Form 990
$22,965
Total Revenue per Audited Statements
$6,400,234
Total Revenue per Form 990
$6,385,430
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$91,446
Other Expenses$72,314
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$5,876,349
Other Salaries and Wages---$81,536
Fees for Services Accounting---$19,050
Fees for Services Legal---$12,500
Office Expenses---$10,897
Fees for Services Other---$8,388
Fees for Service Investment Mgmnt Fees---$8,161
Payroll Taxes---$6,797
Occupancy---$6,629
Insurance---$4,992
Pension Plan Contributions---$2,433
Other Expenses---$1,445
Other Employee Benefits---$680
Depreciation Depletion---$252
Total Functional Expenses$0$0$0$6,040,109

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,337,458
Total Expenses per Audited Statements$6,337,458
Total Expenses per Form 990$6,040,109
Expenses Not Reported on Financial Statements$-297,349
Other Expense Adjustments$-305,510
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$501,000
IBNR Reserve$465,581
Pension Fund Withdrawal Liability$136,332
Payroll Taxes$2,096
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 Trustees 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
2024-08-14
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 -305,510”

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

“provisions of the Internal Revenue Code.”

P10, Ln 2

“U.S. GAAP requires 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 be sustained upon”

P10, Ln 2

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

P10, Ln 2

“analyzed the tax positions taken by the Fund and have concluded that as of”

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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 Obligations -305,510
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/ExplanationTxt8provisions of the Internal Revenue Code.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt9U.S. GAAP requires 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 be sustained upon
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt12examination by the Internal Revenue Service. The Fund's Trustees have
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt13analyzed the tax positions taken by the Fund and have concluded that as of
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0P12, Ln 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1P10, Ln 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2P10, Ln 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3P10, Ln 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4P10, Ln 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc5P10, Ln 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc6P10, Ln 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc7P10, Ln 2
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc11P10, Ln 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc12P10, Ln 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc13P10, Ln 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0693
IRS990ScheduleD/TotalBookValueOtherAssetsAmt056906
IRS990ScheduleD/TotalExpensesPerForm990Amt06040109
IRS990ScheduleD/TotalLiabilityAmt01105009
IRS990ScheduleD/TotalRevenuePerForm990Amt06385430
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06400234
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06337458
IRS990ScheduleD/WrittenPolicyMonitoringInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is prepared in draft and is intended to be provided to the Board
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1of Trustees 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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08955034
IRS990/TotalAssetsEOYAmt09005848
IRS990/TotalAssetsGrp/BOYAmt08955034
IRS990/TotalAssetsGrp/EOYAmt09005848
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt06040109
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01427945
IRS990/TotalLiabilitiesEOYAmt01110473
IRS990/TotalLiabilitiesGrp/BOYAmt01427945
IRS990/TotalLiabilitiesGrp/EOYAmt01110473
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07527089
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07895375
IRS990/TotalProgramServiceRevenueAmt06129541
IRS990/TotalRevenueGrp/ExclusionAmt0248064
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt06129541
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06385430
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08955034
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09005848
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/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL TAORMINA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman Trustee
ReturnHeader/BusinessOfficerGrp/PhoneNum04129218100
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-14
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/IRSResponsiblePrtyInfoCurrInd0false
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/PreparationDt02024-08-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOANNA L SINCHAR
ReturnHeader/ReturnTs02024-08-14T08:31:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-11-01
ReturnHeader/TaxPeriodEndDt02023-10-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,005,848
Liabilities
$1,110,473
Net assets
$7,895,375
Revenue
$6,385,430
Expenses
$6,040,109
Net income
$345,321
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