Civic Intelligence

Modern Drop Forge Co Employee Welfare

990 • Fiscal year 2023 • EIN 36-3148055

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 06, 2024

Organization ProfileN/A

Refreshing map…

8787 Colorado StreetMerrillville, IN 46410

(708) 388-1806

Siviq Scores

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

Liabilities / Assets

99th percentile

1.84x

Higher debt load relative to assets than 99% of similar nonprofits.

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

Liabilities / Revenue

82nd percentile

0.29x

Higher debt load relative to revenue than 82% of similar nonprofits.

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

Net Margin

33rd percentile

-1.5%

Higher net margin than 33% 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

52nd percentile

7.4%

Faster asset growth than 52% of similar nonprofits.

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

Revenue Growth

86th percentile

32%

Faster revenue growth than 86% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$1,193,506

Up $82,374 (+7.4%) from 2022

Net Assets

Down

-$1,001,236

Down $252,981 (-34%) from 2022

Liabilities

Up

$2,194,742

Up $335,355 (+18%) from 2022

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin33rd percentile

Revenue

Up

$7,620,695

Up $1,854,808 (+32%) from 2022

Expenses

Up

$7,732,158

Up $1,750,046 (+29%) from 2022

Net Income

Up

-$111,463

Up $104,762 (+48%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2017: $1,419,870Liabilities 2017: $2,013,122Net Assets 2017: -$593,2522017Assets 2018: $1,305,790Liabilities 2018: $1,898,310Net Assets 2018: -$592,5202018Assets 2019: $1,723,688Liabilities 2019: $1,273,127Net Assets 2019: $450,5612019Assets 2020: $1,865,312Liabilities 2020: $1,877,367Net Assets 2020: -$12,0552020Assets 2021: $1,657,917Liabilities 2021: $1,761,059Net Assets 2021: -$103,1422021Assets 2022: $1,111,132Liabilities 2022: $1,859,387Net Assets 2022: -$748,2552022Assets 2023: $1,193,506Liabilities 2023: $2,194,742Net Assets 2023: -$1,001,2362023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2023

Assets$1,193,506
Liabilities$2,194,742
Net Assets-$1,001,236
Open 2023 Filing

Operations Trend

Revenue Growth86th percentile

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

$10M$5.0M$0-$5.0MRevenue 2017: $7,297,228Expenses 2017: $7,147,244Net Income 2017: $149,9842017Revenue 2018: $7,992,868Expenses 2018: $7,803,928Net Income 2018: $188,9402018Revenue 2019: $7,273,168Expenses 2019: $7,137,818Net Income 2019: $135,3502019Revenue 2020: $6,712,123Expenses 2020: $6,855,350Net Income 2020: -$143,2272020Revenue 2021: $6,543,667Expenses 2021: $6,696,482Net Income 2021: -$152,8152021Revenue 2022: $5,765,887Expenses 2022: $5,982,112Net Income 2022: -$216,2252022Revenue 2023: $7,620,695Expenses 2023: $7,732,158Net Income 2023: -$111,4632023Revenue 2024: $7,979,899Expenses 2024: $8,837,736Net Income 2024: -$857,8372024

Highlighted filing

2023

Revenue$7,620,695
Expenses$7,732,158
Net Income-$111,463
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 6, 2024
Return Version
2023v5.1
Gross Receipts
$7,752,227
Mission and Program Overview

Mission

Provides health, dental and disability benefits covering substantially all regular employees of the sponsoring company.

Provides health benefits (medical, hospital, surgical, major medical, prescription, and dental), life insurance coverage, long-term disability benefits, and short-term disability benefits to full-time employees of modern drop forge company, llc and its subsidiaries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$891,507$984,617▲ $93,110
Cash and Non-Interest-Bearing Accounts$6,673$2,761▼ $3,912
Accounts Receivable$998$573▼ $425
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-748,255$-1,001,236▼ $252,981
Total Assets$1,111,132$1,193,506▲ $82,374
Other Assets Total$211,954$205,555▼ $6,399
Liabilities
Other Liabilities$1,731,275$2,086,140▲ $354,865
Accounts Payable and Accrued Expenses$128,112$108,602▼ $19,510
Total Liabilities$1,859,387$2,194,742▲ $335,355
Net Assets / Fund Balance
Total Net Assets Fund Balance$-748,255$-1,001,236▼ $252,981
Total Liabilities and Net Assets / Fund Balance$1,111,132$1,193,506▲ $82,374

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$205,555--
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Gregory J HeimTrustee
Loren KempTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,620,227
Investment Income
$468
Other Revenue
$0
Change in Net Assets
$-111,463

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,620,695
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$213,347
Total Revenue per Audited Statements
$7,834,042
Total Revenue per Form 990
$7,620,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$674,731
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
Benefits to Members---$7,057,427
Insurance---$481,475
Other Expenses---$60,078
Total Functional Expenses$0$0$0$7,732,158

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,732,158
Total Expenses per Audited Statements$7,732,158
Total Expenses per Form 990$7,732,158
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post Retirement Benefit Obligations$1,513,707
Claims Payable, Ibnr, and Premiums Due to Insurers$572,433
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

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

“The board retains the services of an independent cpa firm to prepare the organization's form 990. The trustees review the form 990 and will consult with the preparer regarding any item that they determine to be insufficent or requiring additional information or discussion.”

Form 990, Part VI, Section C, Line 19

“Financial statements and governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Modern Drop Forge Co Employee Welfare
EIN
36-3148055
Phone
7083881806
Address
8787 COLORADO STREET, MERRILLVILLE, IN 46410

Signing Officer

Name
Loren Kemp
Title
Trustee
Phone
7083881806
Signed
2024-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Loren Kemp
Formed
1993
Legal Domicile
Il
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Plante & Moran Pllc
Address
10 S RIVERSIDE PLAZA 9TH FLOOR, CHICAGO, IL 60606
Preparer
Jessica Toader
Phone
3122071040
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in plan benefit obligations -354,865.”

Raw XML Appendix312 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990. THE TRUSTEES REVIEW THE FORM 990 AND WILL CONSULT WITH THE PREPARER REGARDING ANY ITEM THAT THEY DETERMINE TO BE INSUFFICENT OR REQUIRING ADDITIONAL INFORMATION OR DISCUSSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CHANGE IN PLAN BENEFIT OBLIGATIONS -354,865.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
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IRS990/USAddress/CityNm0MERRILLVILLE
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046410
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LOREN KEMP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum07083881806
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MODERN DROP FORGE CO EMPLOYEE WELFARE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0TRUST
ReturnHeader/Filer/BusinessNameControlTxt0MODE
ReturnHeader/Filer/EIN0363148055
ReturnHeader/Filer/PhoneNum07083881806
ReturnHeader/Filer/USAddress/AddressLine1Txt08787 COLORADO STREET
ReturnHeader/Filer/USAddress/CityNm0MERRILLVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046410
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0381357951
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PLANTE & MORAN PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010 S RIVERSIDE PLAZA 9TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060606
ReturnHeader/PreparerPersonGrp/PhoneNum03122071040
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JESSICA TOADER
ReturnHeader/ReturnTs02024-11-12T11:00:23-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,193,506
Liabilities
$2,194,742
Net assets
-$1,001,236
Revenue
$7,620,695
Expenses
$7,732,158
Net income
-$111,463
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$7.98$8.84$0.86
2023Detailed filing. Detailed filing data is available for this year.$1.19$2.19$1.00$7.62$7.73$0.11
2022Detailed filing. Detailed filing data is available for this year.$1.11$1.86$0.75$5.77$5.98$0.22
2021Detailed filing. Detailed filing data is available for this year.$1.66$1.76$0.10$6.54$6.70$0.15
2020Detailed filing. Detailed filing data is available for this year.$1.87$1.88$0.01$6.71$6.86$0.14
2019Detailed filing. Detailed filing data is available for this year.$1.72$1.27$0.45$7.27$7.14$0.14
2018Detailed filing. Detailed filing data is available for this year.$1.31$1.90$0.59$7.99$7.80$0.19
2017Detailed filing. Detailed filing data is available for this year.$1.42$2.01$0.59$7.30$7.15$0.15