Civic Intelligence

Local 400 Food Terminal Employees' Welfare Fund

EIN 34-6538250 • 501(c)9 • Cleveland, OH

Profile

To provide health & welfare benefits to members.

707 Brookpark RoadCleveland, OH 44109

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.23x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

0.37x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2024

Net Margin

72nd percentile

22%

Higher net margin than 72% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

501(c)9 • $1M-$5M nonprofits • Source year 2024

Asset Growth

82nd percentile

16%

Faster asset growth than 82% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

35th percentile

-1.4%

Faster revenue growth than 35% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$4,889,841

Up $690,243 (+16%) from 2023

Liabilities

Up

$1,124,082

Up $2,109 (+0.2%) from 2023

Net Assets

Up

$3,765,759

Up $688,134 (+22%) from 2023

Revenue

Down

$3,078,820

Down $44,951 (-1.4%) from 2023

Expenses

Down

$2,405,083

Down $68,321 (-2.8%) from 2023

Net Income

Up

$673,737

Up $23,370 (+3.6%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2015: $1,496,340Liabilities 2015: $1,153,742Net Assets 2015: $342,5982015Assets 2016: $1,919,440Liabilities 2016: $1,152,017Net Assets 2016: $767,4232016Assets 2017: $2,188,600Liabilities 2017: $1,156,408Net Assets 2017: $1,032,1922017Assets 2018: $2,600,120Liabilities 2018: $1,151,234Net Assets 2018: $1,448,8862018Assets 2019: $2,851,315Liabilities 2019: $1,380,544Net Assets 2019: $1,470,7712019Assets 2020: $2,605,719Liabilities 2020: $1,130,987Net Assets 2020: $1,474,7322020Assets 2021: $2,739,675Liabilities 2021: $1,129,869Net Assets 2021: $1,609,8062021Assets 2022: $3,528,547Liabilities 2022: $1,126,595Net Assets 2022: $2,401,9522022Assets 2023: $4,199,598Liabilities 2023: $1,121,973Net Assets 2023: $3,077,6252023Assets 2024: $4,889,841Liabilities 2024: $1,124,082Net Assets 2024: $3,765,7592024

Highlighted filing

2024

Assets$4,889,841
Liabilities$1,124,082
Net Assets$3,765,759

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $2,858,621Expenses 2015: $3,093,482Net Income 2015: -$234,8612015Revenue 2016: $3,405,970Expenses 2016: $2,981,579Net Income 2016: $424,3912016Revenue 2017: $3,299,191Expenses 2017: $3,034,858Net Income 2017: $264,3332017Revenue 2018: $3,284,745Expenses 2018: $2,862,795Net Income 2018: $421,9502018Revenue 2019: $2,934,739Expenses 2019: $2,918,894Net Income 2019: $15,8452019Revenue 2020: $2,702,100Expenses 2020: $2,702,386Net Income 2020: -$2862020Revenue 2021: $2,651,847Expenses 2021: $2,512,242Net Income 2021: $139,6052021Revenue 2022: $3,081,367Expenses 2022: $2,257,648Net Income 2022: $823,7192022Revenue 2023: $3,123,771Expenses 2023: $2,473,404Net Income 2023: $650,3672023Revenue 2024: $3,078,820Expenses 2024: $2,405,083Net Income 2024: $673,7372024

Highlighted filing

2024

Revenue$3,078,820
Expenses$2,405,083
Net Income$673,737

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 8, 2023
Return Version
2022v5.0
Gross Receipts
$4,084,736
Mission and Program Overview

Mission

To provide health & welfare benefits to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,609,806$2,401,952▲ $792,146
Investments Other Securities$958,523$1,927,522▲ $968,999
Savings and Temporary Cash Investments$1,769,916$1,357,370▼ $412,546
Prepaid Expenses and Deferred Charges-$214,124-
Accounts Receivable$11,236$29,531▲ $18,295
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,739,675$3,528,547▲ $788,872
Liabilities
Other Liabilities$1,114,717$1,114,717→ $0
Deferred Revenue$14,605$11,878▼ $2,727
Accounts Payable and Accrued Expenses$547$0▼ $547
Total Liabilities$1,129,869$1,126,595▼ $3,274
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,609,806$2,401,952▲ $792,146
Total Liabilities and Net Assets / Fund Balance$2,739,675$3,528,547▲ $788,872

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$100,370$100,370
Other Securities$1,927,522--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charles a Cimino JrChairman
Raymond GoldTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,048,567
Investment Income
$32,800
Other Revenue
$0
Change in Net Assets
$823,719

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,078,569
Revenue Not Reported on Financial Statements
$2,798
Revenue Not Reported on Form 990
$-31,573
Total Revenue per Audited Statements
$3,046,996
Total Revenue per Form 990
$3,081,367
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$96,695
Other Expenses$87,358
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$2,073,595
Other Salaries and Wages---$53,329
Other Employee Benefits---$35,474
Interest---$30,928
Occupancy---$21,404
Fees for Services Accounting---$17,231
Payroll Taxes---$7,892
Fees for Services Other---$4,900
Insurance---$4,707
Office Expenses---$3,979
Fees for Service Investment Mgmnt Fees---$2,798
Other Expenses---$1,411
Total Functional Expenses$0$0$0$2,257,648

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,257,648
Expenses per Audited Statements$2,254,850
Total Expenses per Audited Statements$2,254,850
Expenses Not Reported on Financial Statements$2,798
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pension Withdrawal Liability$1,114,717
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
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
Yes
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

There are no committees that exist.

Form 990, Part VI, Section B, Line 11B

The organization's governing body reviews the form 990 prior to filing.

Form 990, Part VI, Section C, Line 19

The governing documents and financial statements are available to the public upon request.

Form 990, Part VI, Section A, Line 9

Raymond gold, economy produce, 3800 orange ave., cleveland, oh 44115, ph#(216)431-2800

Filing and Contact Details

Filer

Filer Name
LOCAL 400 FOOD TERMINAL EMPLOYEES'
EIN
34-6538250
Phone
2167786302
Address
707 BROOKPARK ROAD, CLEVELAND, OH 44109

Signing Officer

Name
Charles Cimino Jr
Title
Chairman
Phone
2167786302
Signed
2023-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Cimino Jr
Formed
1952
Legal Domicile
Oh
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Ciuni & Panichi Inc
Address
25201 CHAGRIN BLVD 200, CLEVELAND, OH 44122-5683
Preparer
Jeffrey R Spencer CPA
Phone
2168317171
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The fund has received an exemption letter from the internal revenue service (irs) dated december 3, 1963, stating that the veba trust established under the fund was in compliance with the applicable requirements of the provisions of section 501(c)(9) of the internal revenue code (irc). No federal or state income taxes have been recorded in 2022 or 2021 for unrelated business taxable income. The fund 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 fund is being operated in compliance with the applicable requirements of the irc and, therefore, believes that the related trust was tax-exempt as of the financial statement date. Accounting principles generally accepted in the united states of america require fund management to evaluate tax positions taken by the fund and recognize a tax liability (or asset) if it has taken an uncertain position that more likely than not would not be sustained upon examination by the irs. The fund is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Raw XML Appendix347 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.

Path#Value
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FUND HAS RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) DATED DECEMBER 3, 1963, STATING THAT THE VEBA TRUST ESTABLISHED UNDER THE FUND WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE PROVISIONS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC). NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED IN 2022 OR 2021 FOR UNRELATED BUSINESS TAXABLE INCOME. THE FUND 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 FUND IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THAT THE RELATED TRUST WAS TAX-EXEMPT AS OF THE FINANCIAL STATEMENT DATE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE FUND MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FUND AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF IT HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE FUND 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/ExplanationTxt0THERE ARE NO COMMITTEES THAT EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING BODY REVIEWS THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RAYMOND GOLD, ECONOMY PRODUCE, 3800 ORANGE AVE., CLEVELAND, OH 44115, PH#(216)431-2800
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1COOSEMANS CLEVELAND
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2CROSSET OF AKRON
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3ECONOMY PRODUCE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4HEINEN'S
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5NORTHERN HASEROT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0LOCAL 400 FOOD TERMINAL EMPLOYEES PENSION FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0346665909
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0401
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DEFINED BENEFIT PENSION PLAN COVERING ALL ELIGIBLE EMPLOYEES.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0707 BROOKPARK ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0CLEVELAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd044109
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02739675
IRS990/TotalAssetsEOYAmt03528547
IRS990/TotalAssetsGrp/BOYAmt02739675
IRS990/TotalAssetsGrp/EOYAmt03528547
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02257648
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01129869
IRS990/TotalLiabilitiesEOYAmt01126595
IRS990/TotalLiabilitiesGrp/BOYAmt01129869
IRS990/TotalLiabilitiesGrp/EOYAmt01126595
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01609806
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02401952
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt03048567
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt032800
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03048567
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03081367
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02739675
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03528547
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0707 BROOKPARK ROAD
IRS990/USAddress/CityNm0CLEVELAND
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044109
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES CIMINO JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02167786302
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOCAL 400 FOOD TERMINAL EMPLOYEES'
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0WELFARE FUND
ReturnHeader/Filer/BusinessNameControlTxt0LOCA
ReturnHeader/Filer/EIN0346538250
ReturnHeader/Filer/PhoneNum02167786302
ReturnHeader/Filer/USAddress/AddressLine1Txt0707 BROOKPARK ROAD
ReturnHeader/Filer/USAddress/CityNm0CLEVELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044109
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341322309
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CIUNI & PANICHI INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt025201 CHAGRIN BLVD 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CLEVELAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0441225683
ReturnHeader/PreparerPersonGrp/PhoneNum02168317171
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY R SPENCER CPA
ReturnHeader/ReturnTs02023-11-15T12:48:23-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHARLES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CIMINO JR
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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