Civic Intelligence

Wah Chang Defined Contribution Benefit Trust

990 • Fiscal year 2014 • EIN 27-1404121

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 12, 2015

60 Blvd Of The Allies No 5th FLPittsburgh, PA 15222

(412) 201-2242

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.01x

Higher debt load relative to assets than 33% of similar nonprofits.

2014 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

33rd percentile

0.01x

Higher debt load relative to revenue than 33% of similar nonprofits.

2014 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2014

Net Margin

87th percentile

35%

Higher net margin than 87% of similar nonprofits.

2014 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2014 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2014

Asset Growth

90th percentile

28%

Faster asset growth than 90% of similar nonprofits.

2014 filings • 501(c)9 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

45th percentile

2.5%

Faster revenue growth than 45% of similar nonprofits.

2014 filings • 501(c)9 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

Up

$11,262,870

Up $2,467,954 (+28%) from 2013

Net Assets

Up

$11,198,844

Up $2,405,664 (+27%) from 2013

Liabilities

Up

$64,026

Up $62,290 (+3588%) from 2013

Revenue

Up

$6,801,421

Up $164,607 (+2.5%) from 2013

Expenses

Down

$4,404,930

Down $231,106 (-5.0%) from 2013

Net Income

Up

$2,396,491

Up $395,713 (+20%) from 2013

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2013: $8,794,916Liabilities 2013: $1,736Net Assets 2013: $8,793,1802013Assets 2014: $11,262,870Liabilities 2014: $64,026Net Assets 2014: $11,198,8442014Assets 2015: $13,016,653Liabilities 2015: $670Net Assets 2015: $13,015,9832015Assets 2017: $29,283,968Liabilities 2017: $1,351,381Net Assets 2017: $27,932,5872017Assets 2018: $40,658,315Liabilities 2018: $638,949Net Assets 2018: $40,019,3662018Assets 2019: $51,413,115Liabilities 2019: $682,516Net Assets 2019: $50,730,5992019Assets 2020: $68,338,376Liabilities 2020: $3,799,326Net Assets 2020: $64,539,0502020Assets 2021: $85,199,471Liabilities 2021: $6,627,138Net Assets 2021: $78,572,3332021Assets 2022: $72,423,401Liabilities 2022: $60,301Net Assets 2022: $72,363,1002022Assets 2023: $92,245,525Liabilities 2023: $1,543,662Net Assets 2023: $90,701,8632023Assets 2024: $112,602,704Liabilities 2024: $160,640Net Assets 2024: $112,442,0642024

Highlighted filing

2014

Assets$11,262,870
Liabilities$64,026
Net Assets$11,198,844

Operations Trend

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

$60M$40M$20M$0Revenue 2013: $6,636,814Expenses 2013: $4,636,036Net Income 2013: $2,000,7782013Revenue 2014: $6,801,421Expenses 2014: $4,404,930Net Income 2014: $2,396,4912014Revenue 2015: $6,514,641Expenses 2015: $4,639,933Net Income 2015: $1,874,7082015Revenue 2017: $52,850,249Expenses 2017: $45,683,633Net Income 2017: $7,166,6162017Revenue 2018: $52,544,867Expenses 2018: $39,365,693Net Income 2018: $13,179,1742018Revenue 2019: $46,224,143Expenses 2019: $39,406,974Net Income 2019: $6,817,1692019Revenue 2020: $44,024,162Expenses 2020: $34,198,727Net Income 2020: $9,825,4352020Revenue 2021: $40,997,779Expenses 2021: $30,701,165Net Income 2021: $10,296,6142021Revenue 2022: $42,081,274Expenses 2022: $39,235,283Net Income 2022: $2,845,9912022Revenue 2023: $39,334,836Expenses 2023: $26,466,500Net Income 2023: $12,868,3362023Revenue 2024: $41,280,644Expenses 2024: $22,568,424Net Income 2024: $18,712,2202024

Highlighted filing

2014

Revenue$6,801,421
Expenses$4,404,930
Net Income$2,396,491
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 12, 2015
Return Version
2014v5.0
Gross Receipts
$18,027,493
Mission and Program Overview

Mission

To provide retiree health care, surviving spouse and/or death benefits to certain former employees of wah chang as set forth in the wah chang defined contribution benefit trust agreement.

To provide retiree health care, surviving spouse and/or death benefits to certain former employees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$8,793,180$11,198,844▲ $2,405,664
Investments in Publicly Traded Securities$35,126$4,547,379▲ $4,512,253
Accounts Receivable$3,951,057$4,034,156▲ $83,099
Savings and Temporary Cash Investments$4,791,836$2,639,013▼ $2,152,823
Cash and Non-Interest-Bearing Accounts$13,504$38,539▲ $25,035
Prepaid Expenses and Deferred Charges$3,393$3,783▲ $390
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$8,794,916$11,262,870▲ $2,467,954
Liabilities
Accounts Payable and Accrued Expenses$1,736$64,026▲ $62,290
Total Liabilities$1,736$64,026▲ $62,290
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,793,180$11,198,844▲ $2,405,664
Total Liabilities and Net Assets / Fund Balance$8,794,916$11,262,870▲ $2,467,954
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lauren McandrewsChair, Veba Committee
-Co-chair, Veba Committee
Ronald RogersTrustee
Jeanette StumpVeba Committee
Karl SchwartzVeba Committee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,722,651
Investment Income
$78,770
Other Revenue
$0
Change in Net Assets
$2,396,491

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,801,421
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$9,173
Total Revenue per Audited Statements
$6,810,594
Total Revenue per Form 990
$6,801,421
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,404,930
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
Insurance---$4,311,385
Other Expenses---$93,545
Total Functional Expenses$0$0$0$4,404,930

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,404,930
Total Expenses per Audited Statements$4,404,930
Total Expenses per Form 990$4,404,930
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Backup withholding compliance
Yes
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, Part VI, Section A, Line 8B

The organization does not have a committee with authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11

A copy of the completed form 990 will be provided to each committee member prior to filing form 990.

Form 990, Part VI, Section C, Line 19

The trust provides its governing documents and financial statements upon request.

FORM 990, PART VI, SECTION A, LINE 1A:

The trustee's duties and obligations shall be limited to those expressly imposed upon it by the governing trust agreement and amendments made thereto. The veba committee comprised of four members shall be the named fiduciary (as defined in section 402(a)(2) of erisa) with the authority to control and manage the operation of the trust, including but not limited to the authority to monitor and enforce contributions thereto, as set forth in the trust agreement and amendments made thereto and the plan document.

FORM 990, PART VI, SECTION B, LINE 15, POLICIES:

The organization does not compensate any individuals listed in part vii of the form 990.

Filing and Contact Details

Filer

Filer Name
Wah Chang Defined Contribution Benefit Trust
EIN
27-1404121
Phone
4122012242
Address
60 BLVD OF THE ALLIES NO 5TH FL, PITTSBURGH, PA 15222

Signing Officer

Name
Jeanette Stump
Title
Chair, Veba Committee
Phone
4122012242
Signed
2015-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeanette Stump
Formed
2010
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
2

Preparer

Firm
Schneider Downs & Co Inc
Address
ONE PPG PLACE SUITE 1700, PITTSBURGH, PA 15222-5416
Preparer
Eugene J Logan
Phone
4122613644
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The trust established under the plan to hold the plans assets received an exemption letter from the internal revenue service(irs) dated february 6, 2014, stating that the trust is tax-exempt under the provisions of section 501(c)(9) of the internal revenue code (irc), and, accordingly, the trusts net investment income is exempt from income taxes. In addition, the plan and the trust are required to operate in conformity with the irc to maintain the tax-exempt status of the trust. The plan administrator believes that the plan is being operated in compliance with the applicable requirements of the irc and, therefore, believes that the related trust is tax-exempt. U.s. Gaap require plan management to evaluate tax positions taken by the plan and recognize a tax liability 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, 2014 and 2013, there are no uncertain positions taken or expected to be taken that would require recognition of a liability 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.

Raw XML Appendix322 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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IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIR, VEBA COMMITTEE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE TRUST ESTABLISHED UNDER THE PLAN TO HOLD THE PLANS ASSETS RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE(IRS) DATED FEBRUARY 6, 2014, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC), AND, ACCORDINGLY, THE TRUSTS NET INVESTMENT INCOME IS EXEMPT FROM INCOME TAXES. IN ADDITION, THE PLAN AND THE TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THAT THE RELATED TRUST IS TAX-EXEMPT. U.S. GAAP REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY 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, 2014 AND 2013, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE COMPLETED FORM 990 WILL BE PROVIDED TO EACH COMMITTEE MEMBER PRIOR TO FILING FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TRUST PROVIDES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TRUSTEE'S DUTIES AND OBLIGATIONS SHALL BE LIMITED TO THOSE EXPRESSLY IMPOSED UPON IT BY THE GOVERNING TRUST AGREEMENT AND AMENDMENTS MADE THERETO. THE VEBA COMMITTEE COMPRISED OF FOUR MEMBERS SHALL BE THE NAMED FIDUCIARY (AS DEFINED IN SECTION 402(A)(2) OF ERISA) WITH THE AUTHORITY TO CONTROL AND MANAGE THE OPERATION OF THE TRUST, INCLUDING BUT NOT LIMITED TO THE AUTHORITY TO MONITOR AND ENFORCE CONTRIBUTIONS THERETO, AS SET FORTH IN THE TRUST AGREEMENT AND AMENDMENTS MADE THERETO AND THE PLAN DOCUMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES NOT COMPENSATE ANY INDIVIDUALS LISTED IN PART VII OF THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 1A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15, POLICIES:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0952316679
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0CONTRIBUTING EMPLOYER
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0WAH CHANG A DIVISION OF TDY INDUSTRIES LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01000 SIX PPG PLACE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0PITTSBURGH
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd015222
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt08794916
IRS990/TotalAssetsEOYAmt011262870
IRS990/TotalAssetsGrp/BOYAmt08794916
IRS990/TotalAssetsGrp/EOYAmt011262870
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt04404930
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01736
IRS990/TotalLiabilitiesEOYAmt064026
IRS990/TotalLiabilitiesGrp/BOYAmt01736
IRS990/TotalLiabilitiesGrp/EOYAmt064026
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08793180
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011198844
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt06722651
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt078770
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt06722651
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06801421
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08794916
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011262870
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt060 BLVD OF THE ALLIES NO 5TH FL
IRS990/USAddress/CityNm0PITTSBURGH
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd015222
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JEANETTE STUMP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR, VEBA COMMITTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum04122012242
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WAH CHANG DEFINED CONTRIBUTION BENEFIT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0WAHC
ReturnHeader/Filer/EIN0271404121
ReturnHeader/Filer/PhoneNum04122012242
ReturnHeader/Filer/USAddress/AddressLine1Txt060 BLVD OF THE ALLIES NO 5TH FL
ReturnHeader/Filer/USAddress/CityNm0PITTSBURGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd015222
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0251408703
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHNEIDER DOWNS & CO INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE PPG PLACE SUITE 1700
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PITTSBURGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0152225416
ReturnHeader/PreparerPersonGrp/PhoneNum04122613644
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EUGENE J LOGAN
ReturnHeader/ReturnTs02015-11-12T08:50:31-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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