Civic Intelligence

Indiana Laborers Welfare Fund

EIN 35-0923209 • 501(c)9 • Terre Haute, IN

Profile

Provide health & welfare benefits to members

PO Box 1587Terre Haute, IN 47808

not applicable

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.06x

Higher debt load relative to assets than 63% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

70th percentile

0.17x

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

501(c)9 • $250M-$1B nonprofits • Source year 2024

Net Margin

75th percentile

21%

Higher net margin than 75% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

17th percentile

$0

Higher top officer pay than 17% of similar nonprofits.

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

$250M-$1B nonprofits • Source year 2022

Asset Growth

84th percentile

16%

Faster asset growth than 84% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Annualized from 2022 to 2024

Revenue Growth

72nd percentile

17%

Faster revenue growth than 72% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Annualized from 2022 to 2024

Assets

Up

$405,611,854

Up $103,029,106 (+34%) from 2022

Liabilities

Up

$24,859,756

Up $715,766 (+3.0%) from 2022

Net Assets

Up

$380,752,098

Up $102,313,340 (+37%) from 2022

Revenue

Up

$142,979,855

Up $38,528,060 (+37%) from 2022

Expenses

Up

$112,390,431

Up $16,878,751 (+18%) from 2022

Net Income

Up

$30,589,424

Up $21,649,309 (+242%) from 2022

Trend Graphs

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2010: $190,179,949Liabilities 2010: $3,607,334Net Assets 2010: $186,572,6152010Assets 2011: $205,047,764Liabilities 2011: $10,705,725Net Assets 2011: $194,342,0392011Assets 2012: $230,023,390Liabilities 2012: $11,538,659Net Assets 2012: $218,484,7312012Assets 2013: $251,648,280Liabilities 2013: $11,052,608Net Assets 2013: $240,595,6722013Assets 2014: $262,096,832Liabilities 2014: $10,747,156Net Assets 2014: $251,349,6762014Assets 2015: $251,553,733Liabilities 2015: $12,801,508Net Assets 2015: $238,752,2252015Assets 2016: $248,679,933Liabilities 2016: $15,070,845Net Assets 2016: $233,609,0882016Assets 2017: $247,827,040Liabilities 2017: $20,489,167Net Assets 2017: $227,337,8732017Assets 2018: $241,777,245Liabilities 2018: $21,664,385Net Assets 2018: $220,112,8602018Assets 2019: $261,228,383Liabilities 2019: $18,558,466Net Assets 2019: $242,669,9172019Assets 2020: $276,143,032Liabilities 2020: $25,735,926Net Assets 2020: $250,407,1062020Assets 2021: $297,651,155Liabilities 2021: $24,473,624Net Assets 2021: $273,177,5312021Assets 2022: $302,582,748Liabilities 2022: $24,143,990Net Assets 2022: $278,438,7582022Assets 2024: $405,611,854Liabilities 2024: $24,859,756Net Assets 2024: $380,752,0982024

Highlighted filing

2024

Assets$405,611,854
Liabilities$24,859,756
Net Assets$380,752,098

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $66,917,8982010Expenses 2011: $73,132,8442011Expenses 2012: $78,689,9332012Expenses 2013: $74,919,0822013Revenue 2014: $85,753,385Expenses 2014: $76,535,956Net Income 2014: $9,217,4292014Revenue 2015: $81,363,687Expenses 2015: $87,888,131Net Income 2015: -$6,524,4442015Revenue 2016: $83,909,425Expenses 2016: $92,578,241Net Income 2016: -$8,668,8162016Revenue 2017: $94,475,865Expenses 2017: $101,924,231Net Income 2017: -$7,448,3662017Revenue 2018: $98,780,027Expenses 2018: $98,435,322Net Income 2018: $344,7052018Revenue 2019: $102,595,527Expenses 2019: $93,354,421Net Income 2019: $9,241,1062019Revenue 2020: $102,892,384Expenses 2020: $103,908,288Net Income 2020: -$1,015,9042020Revenue 2021: $117,994,109Expenses 2021: $101,017,831Net Income 2021: $16,976,2782021Revenue 2022: $104,451,795Expenses 2022: $95,511,680Net Income 2022: $8,940,1152022Revenue 2024: $142,979,855Expenses 2024: $112,390,431Net Income 2024: $30,589,4242024

Highlighted filing

2024

Revenue$142,979,855
Expenses$112,390,431
Net Income$30,589,424

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$406$24.9$381$143$112$30.6
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$303$24.1$278$104$95.5$8.94
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$298$24.5$273$118$101$17.0
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$276$25.7$250$103$104$1.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$261$18.6$243$103$93.4$9.24
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$242$21.7$220$98.8$98.4$0.34
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$248$20.5$227$94.5$102$7.45
2016Detailed filing. Detailed filing data is available for this year.$249$15.1$234$83.9$92.6$8.67
2015Detailed filing. Detailed filing data is available for this year.$252$12.8$239$81.4$87.9$6.52
2014Detailed filing. Detailed filing data is available for this year.$262$10.7$251$85.8$76.5$9.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$252$11.1$241$74.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$230$11.5$218$78.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$205$10.7$194$73.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$190$3.61$187$66.9
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
Dec 1, 2021 to Nov 30, 2022
Signed
Aug 31, 2023
Return Version
2021v4.0
Gross Receipts
$337,792,263
Mission and Program Overview

Mission

Provide health & welfare benefits to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$273,177,531$278,438,758▲ $5,261,227
Investments in Publicly Traded Securities$97,733,426--
Savings and Temporary Cash Investments$24,205,859$37,025,331▲ $12,819,472
Accounts Receivable$8,608,075$9,503,561▲ $895,486
Prepaid Expenses and Deferred Charges$138,172$528,395▲ $390,223
Land, Buildings, and Equipment, Net$419,643$390,045▼ $29,598
Total Assets$297,651,155$302,582,748▲ $4,931,593
Other Assets Total$166,545,980$255,135,416▲ $88,589,436
Liabilities
Other Liabilities$21,071,587$20,405,570▼ $666,017
Accounts Payable and Accrued Expenses$3,402,037$3,738,420▲ $336,383
Total Liabilities$24,473,624$24,143,990▼ $329,634
Net Assets / Fund Balance
Total Net Assets Fund Balance$273,177,531$278,438,758▲ $5,261,227
Total Liabilities and Net Assets / Fund Balance$297,651,155$302,582,748▲ $4,931,593

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$278,742$1,291,837$1,570,579
Equipment$22,077$183,800$205,877
Land$89,226-$89,226
Other Assets Org$18,592--
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Anthem INCMed Claims Proc220 VIRGINIA AVENUE, SUITE 358, Indianapolis, IN 46204$3,387,652
Hines Management HealthcareMed Claims Proc115 EAST HIGHLAND AVE, 26TH FLOOR, Elgin, IL 60120$788,902
Delta DentalMed Claims Proc2225 S EAST ST, 6000N, Indianapolis, IN 46202$260,199
Ifm Global InfrastructureInvestment Mgmt114 WEST 47TH STREET, New York, NY 10036$258,444
Beach Point Loan FundInvestment Mgmt1620 26TH ST, Santa Monica, CA 90404$198,738
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$112,332,916
Investment Income
$-7,888,452
Other Revenue
$7,331
Change in Net Assets
$8,940,115

Audited Revenue Reconciliation

Revenue per Audited Statements
$102,249,917
Revenue Not Reported on Financial Statements
$2,201,878
Revenue Not Reported on Form 990
$-3,678,888
Other Revenue Adjustments
$1,052,005
Total Revenue per Audited Statements
$98,571,029
Total Revenue per Form 990
$104,451,795
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,302,826
Salaries, Compensation, and Employee Benefits$2,691,406
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$85,517,448
Other Salaries and Wages---$1,533,758
Fees for Service Investment Mgmnt Fees---$1,149,873
Pension Plan Contributions---$580,108
Information Technology---$537,321
Office Expenses---$381,336
Other Employee Benefits---$362,470
Payroll Taxes---$215,070
Insurance---$143,322
Occupancy---$118,720
Fees for Services Other---$107,500
Fees for Services Legal---$55,758
Fees for Services Accounting---$50,757
Depreciation Depletion---$34,792
Other Expenses---$28,208
Conferences and Meetings---$18,362
All Other Expenses---$17,426
Total Functional Expenses$0$0$0$95,511,680

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$95,511,680
Expenses per Audited Statements$93,309,802
Total Expenses per Audited Statements$93,309,802
Expenses Not Reported on Financial Statements$2,201,878
Other Expense Adjustments$1,052,005
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
Claims Incurred But Not Reported$19,428,723
Due to Other Funds$899,570
Medical Claims Payable$77,277
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

Form 990 is reviewed by the secretary-treasurer prior to signing and filing the return.

Form 990, Page 6, Part VI, Line 12C

The trust fund conforms with erisa rules and regulations with regard to disclosure and review of potential conflicts of interest.

Form 990, Page 6, Part VI, Line 15A

Compensation for all employees is reviewed and approved by the board of trustees.

Form 990, Page 6, Part VI, Line 15B

Compensation for all employees is reviewed and approved by the board of trustees.

Form 990, Page 6, Part VI, Line 19

Governing documents are available to the public upon request. Financial statements are available to the public upon request. The fund provides a summary annual report to all participants containing instructions for obtaining a copy of the financial statements and form 5500.

Filing and Contact Details

Filer

Filer Name
Indiana Laborers Welfare Fund
EIN
35-0923209
Phone
8122382551
Address
PO BOX 1587, TERRE HAUTE, IN 47808

Signing Officer

Name
Brian Short
Title
Sec-treasurer
Phone
8122382551
Signed
2023-08-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Short
Formed
1953
Legal Domicile
In
Voting Board Members
14
Independent Board Members
14
Employees
292
Volunteers
14

Preparer

Firm
L M Henderson & Company Llp
Address
450 E 96TH ST STE 200, INDIANAPOLIS, IN 46240-3797
Preparer
Michelle L Zimmerman
Phone
3175661000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Administrative fees received -1,052,005 administrative fees received 1,052,005

Financial Statement Notes

Schedule D, Page 3, Part X

The fund is tax exempt under internal revenue code paragraph 501(c)(9). The exemption ruling was obtained may 10, 1957. The fund obtained its latest determination letter on january 11, 1983 in which the internal revenue service stated that the fund, as then designed, was in compliance with the applicable requirements of the internal revenue code. The fund has been restated and amended since receiving the determination letter. However, the fund's administrator, legal counsel, and consultant, believe that the fund is currently designed and being operated in compliance with the applicable requirements of the code. Therefore, they believe that the fund was qualified and 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 the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. The fund administrator has analyzed the tax positions taken by the fund, and has concluded that as of november 30, 2022 and november 30, 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The fund is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The fund is subject to income tax examinations by the taxing authorities for a period of three years from the date the tax returns are filed.

Schedule D, Page 4, Part XI, Line 4B

Administrative fees received 1,052,005

Schedule D, Page 4, Part XII, Line 4B

Administrative fees received 1,052,005

Raw XML AppendixShowing 400 of 3,838 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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IRS990/AllOtherExpensesGrp/TotalAmt017426
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IRS990/CompensationProcessOtherInd0true
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IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/ContractorCompensationGrp/CompensationAmt03387652
IRS990/ContractorCompensationGrp/CompensationAmt1788902
IRS990/ContractorCompensationGrp/CompensationAmt2260199
IRS990/ContractorCompensationGrp/CompensationAmt3258444
IRS990/ContractorCompensationGrp/CompensationAmt4198738
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IRS990/EmployeeCnt0292
IRS990/EmploymentTaxReturnsFiledInd0true
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IRS990/FederalGrantAuditRequiredInd0false
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FUND IS TAX EXEMPT UNDER INTERNAL REVENUE CODE PARAGRAPH 501(C)(9). THE EXEMPTION RULING WAS OBTAINED MAY 10, 1957. THE FUND OBTAINED ITS LATEST DETERMINATION LETTER ON JANUARY 11, 1983 IN WHICH THE INTERNAL REVENUE SERVICE STATED THAT THE FUND, AS THEN DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE. THE FUND HAS BEEN RESTATED AND AMENDED SINCE RECEIVING THE DETERMINATION LETTER. HOWEVER, THE FUND'S ADMINISTRATOR, LEGAL COUNSEL, AND CONSULTANT, BELIEVE THAT THE FUND IS CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE CODE. THEREFORE, THEY BELIEVE THAT THE FUND WAS QUALIFIED AND 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 THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE FUND ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FUND, AND HAS CONCLUDED THAT AS OF NOVEMBER 30, 2022 AND NOVEMBER 30, 2021, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FUND IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE FUND IS SUBJECT TO INCOME TAX EXAMINATIONS BY THE TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THE TAX RETURNS ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ADMINISTRATIVE FEES RECEIVED 1,052,005
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2ADMINISTRATIVE FEES RECEIVED 1,052,005
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE SECRETARY-TREASURER PRIOR TO SIGNING AND FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TRUST FUND CONFORMS WITH ERISA RULES AND REGULATIONS WITH REGARD TO DISCLOSURE AND REVIEW OF POTENTIAL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR ALL EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION FOR ALL EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FUND PROVIDES A SUMMARY ANNUAL REPORT TO ALL PARTICIPANTS CONTAINING INSTRUCTIONS FOR OBTAINING A COPY OF THE FINANCIAL STATEMENTS AND FORM 5500.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ADMINISTRATIVE FEES RECEIVED -1,052,005 ADMINISTRATIVE FEES RECEIVED 1,052,005
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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