Civic Intelligence

Midwest Operating Engineers Welfare Fund

990 • Fiscal year 2017 • EIN 36-6109395

Apr 01, 2016 to Mar 31, 2017 • Filed on Jan 23, 2018

6150 Joliet RoadCountryside, IL 60525-3956

(708) 482-7300

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.07x

Higher debt load relative to assets than 62% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

77th percentile

0.19x

Higher debt load relative to revenue than 77% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2017

Net Margin

45th percentile

3.3%

Higher net margin than 45% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

89th percentile

$436,896

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2017

Asset Growth

36th percentile

6.7%

Faster asset growth than 36% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2015 to 2017

Revenue Growth

24th percentile

-2.5%

Faster revenue growth than 24% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2015 to 2017

Assets

Up

$693,946,715

Up $83,950,052 (+14%) from 2015

Net Assets

Up

$643,948,519

Up $181,514,162 (+39%) from 2015

Liabilities

Down

$49,998,196

Down $97,564,110 (-66%) from 2015

Revenue

Down

$261,982,721

Down $13,777,452 (-5.0%) from 2015

Expenses

Up

$253,322,942

Up $52,765,109 (+26%) from 2015

Net Income

Down

$8,659,779

Down $66,542,561 (-88%) from 2015

Historical Trend

Balance Sheet Trend

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

$3.0B$2.0B$1.0B$0Assets 2010: $362,603,884Liabilities 2010: $125,380,697Net Assets 2010: $237,223,1872010Assets 2011: $422,702,564Liabilities 2011: $132,874,510Net Assets 2011: $289,828,0542011Assets 2012: $507,060,028Liabilities 2012: $136,164,629Net Assets 2012: $370,895,3992012Assets 2013: $625,555,234Liabilities 2013: $153,871,673Net Assets 2013: $471,683,5612013Assets 2014: $554,432,335Liabilities 2014: $141,675,308Net Assets 2014: $412,757,0272014Assets 2015: $609,996,663Liabilities 2015: $147,562,306Net Assets 2015: $462,434,3572015Assets 2017: $693,946,715Liabilities 2017: $49,998,196Net Assets 2017: $643,948,5192017Assets 2018: $624,903,377Liabilities 2018: $51,241,683Net Assets 2018: $573,661,6942018Assets 2019: $569,695,810Liabilities 2019: $32,973,260Net Assets 2019: $536,722,5502019Assets 2020: $1,291,681,164Liabilities 2020: $44,685,724Net Assets 2020: $1,246,995,4402020Assets 2021: $1,653,084,385Liabilities 2021: $74,497,852Net Assets 2021: $1,578,586,5332021Assets 2022: $1,803,952,687Liabilities 2022: $73,019,244Net Assets 2022: $1,730,933,4432022Assets 2023: $1,865,358,899Liabilities 2023: $74,922,492Net Assets 2023: $1,790,436,4072023Assets 2024: $2,037,709,626Liabilities 2024: $14,889,400Net Assets 2024: $2,022,820,2262024Assets 2025: $2,298,345,862Liabilities 2025: $40,792,541Net Assets 2025: $2,257,553,3212025

Highlighted filing

2017

Assets$693,946,715
Liabilities$49,998,196
Net Assets$643,948,519

Operations Trend

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

$1.0B$500M$0-$500MExpenses 2010: $222,860,2322010Expenses 2011: $217,609,2972011Expenses 2012: $236,588,4492012Revenue 2013: $331,083,503Expenses 2013: $251,925,709Net Income 2013: $79,157,7942013Revenue 2014: $271,620,602Expenses 2014: $193,646,440Net Income 2014: $77,974,1622014Revenue 2015: $275,760,173Expenses 2015: $200,557,833Net Income 2015: $75,202,3402015Revenue 2017: $261,982,721Expenses 2017: $253,322,942Net Income 2017: $8,659,7792017Revenue 2018: $181,606,894Expenses 2018: $291,519,731Net Income 2018: -$109,912,8372018Revenue 2019: $232,245,552Expenses 2019: $295,072,714Net Income 2019: -$62,827,1622019Revenue 2020: $553,258,778Expenses 2020: $409,651,031Net Income 2020: $143,607,7472020Revenue 2021: $576,632,586Expenses 2021: $396,922,720Net Income 2021: $179,709,8662021Revenue 2022: $632,490,889Expenses 2022: $464,236,201Net Income 2022: $168,254,6882022Revenue 2023: $656,841,797Expenses 2023: $491,879,745Net Income 2023: $164,962,0522023Revenue 2024: $758,875,421Expenses 2024: $528,088,512Net Income 2024: $230,786,9092024Revenue 2025: $801,801,464Expenses 2025: $580,707,409Net Income 2025: $221,094,0552025

Highlighted filing

2017

Revenue$261,982,721
Expenses$253,322,942
Net Income$8,659,779
Jump To
Filing Snapshot
Filing Period
Apr 1, 2016 to Mar 31, 2017
Signed
Jan 23, 2018
Return Version
2016v3.0
Gross Receipts
$362,058,908
Mission and Program Overview

Mission

PROVIDE HEALTH BENEFITS

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$473,888,167$643,948,519▲ $170,060,352
Investments in Publicly Traded Securities$258,607,572$368,971,666▲ $110,364,094
Investments Other Securities$427,891$284,897,092▲ $284,469,201
Accounts Receivable$13,783,450$26,494,284▲ $12,710,834
Land, Buildings, and Equipment, Net$2,529,692$3,959,135▲ $1,429,443
Prepaid Expenses and Deferred Charges$478,495$513,446▲ $34,951
Cash and Non-Interest-Bearing Accounts$0$399,851▲ $399,851
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$621,985,833$693,946,715▲ $71,960,882
Other Assets Total$346,158,733$8,711,241▼ $337,447,492
Liabilities
Accounts Payable and Accrued Expenses$3,348,227$38,126,993▲ $34,778,766
Other Liabilities$144,749,439$8,711,241▼ $136,038,198
Deferred Revenue$0$3,159,962▲ $3,159,962
Total Liabilities$148,097,666$49,998,196▼ $98,099,470
Net Assets / Fund Balance
Total Net Assets Fund Balance$473,888,167$643,948,519▲ $170,060,352
Total Liabilities and Net Assets / Fund Balance$621,985,833$693,946,715▲ $71,960,882

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,869,497$613,527$2,483,024
Equipment$184,048$2,046,546$2,230,594
Leasehold Improvements$1,905,590$238,199$2,143,789
Other Securities$15,000,003--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tom BernsteinAdministrative ManagerPT$199,359$69,402$268,761
Kathleen GrimmControllerPT$143,201$59,007$202,208
Pamela KowalskiCommunication DirectorPT$124,754$58,454$183,208

Board Members and Trustees

NameTitle
James SweeneyChairman
David FaganTrustee
Jacob MrugaczTrustee
Kevin BurkeTrustee
Marshall DouglasTrustee
Michael PirainoTrustee
Steve MichaelsTrustee
Steven CiscoTrustee
Mark BarkowskiTrustee - New
Michael AprileCollector
Robert KlotzCollector
David SneltenSec-treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Bluecross Blueshield Of IlPpo Provider300 E RANDOLPH STREET, Chicago, IL 60601$6,470,421
Corporate Health DimensionsMedical Facility Services5500 MARYLAND WAY NO 400, Brentwood, TN 37027$1,251,097
The Segal CompanyActuarial / ConsultingPO BOX 4092, New York, NY 10261$820,572
Moe It Service CorporationIt Service Provider6150 JOLIET ROAD, Countryside, IL 60525$577,622
Compsych CorporationMental Health Services455 N CITYFRONT PLAZA, Chicago, IL 60611$479,586
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$246,722,344
Investment Income
$15,240,128
Other Revenue
$20,249
Change in Net Assets
$8,659,779

Audited Revenue Reconciliation

Revenue per Audited Statements
$256,866,520
Revenue Not Reported on Financial Statements
$5,116,201
Revenue Not Reported on Form 990
$22,429,490
Other Revenue Adjustments
$4,302,567
Total Revenue per Audited Statements
$279,296,010
Total Revenue per Form 990
$261,982,721
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,815,823
Other Expenses$5,732,198
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$238,774,921
Other Salaries and Wages---$4,849,544
Other Employee Benefits---$1,775,281
Pension Plan Contributions---$1,469,188
Office Expenses---$1,080,834
Occupancy---$1,035,203
Fees for Service Investment Mgmnt Fees---$813,634
Depreciation Depletion---$746,917
Fees for Services Other---$552,995
Payroll Taxes---$450,841
Information Technology---$325,493
Fees for Services Legal---$284,185
Current Officers, Directors, Trustees, and Key Employees---$270,969
Fees for Services Accounting---$168,746
Other Expenses---$106,080
Insurance---$65,076
Conferences and Meetings---$62,481
Total Functional Expenses$0$0$0$253,322,942

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$253,322,942
Expenses per Audited Statements$248,206,741
Total Expenses per Audited Statements$248,206,741
Expenses Not Reported on Financial Statements$5,116,201
Other Expense Adjustments$4,302,567
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Sheri Cisco-mooreDaughter of TrusteeCompensation Earned as an Employee of the Organization.No$24,241
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liability to Return Collateral Held for Securities on Loan$8,711,241
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
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, Part VI, Section B, Line 11B

The form 990 is provided to the entire board of trustees and administrative manager prior to filing. After the board's review, the form is approved and filed.

Form 990, Part VI, Section B, Line 12C

The board of trustees shall regularly and consistently monitor and enforce compliance with this policy taking all steps they deem necessary to ensure such monitoring and enforcement.

Form 990, Part VI, Section B, Line 15

Salaries are annually reviewed and approved by the board of trustees.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are available upon request at the fund office.

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

The organzation's administrative manager, controller, communication director and collectors are shared employees and hold the same position for several related entities. The repoting organization is reimbursed by the related entities for their portion of the salaries, fringe benefits and payroll taxes for the administrative manager, controller and communication director. The reporting organization reimburses one of the related entities for its portion of the salaries, fringe benefits and payroll taxes for the collectors.

Filing and Contact Details

Filer

Filer Name
Midwest Operating Engineers Welfare Fund
EIN
36-6109395
Phone
7084827300
Address
6150 JOLIET ROAD, COUNTRYSIDE, IL 60525-3956

Signing Officer

Name
James Sweeney
Title
Trustee
Phone
7084827300
Signed
2018-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Sweeney
Formed
1953
Legal Domicile
Il
Voting Board Members
10
Independent Board Members
5
Employees
91
Volunteers
0

Preparer

Firm
Legacy Professionals Llp
Address
311 S WACKER DRIVE STE 4000, CHICAGO, IL 60606
Preparer
Greg Wallenbecker
Phone
3123680500
Supplemental Narrative

Additional Explanations

PAGE 12, PART XI, LINE 8 - PRIOR PERIOD ADJUSTMENT:

To correct benefits payable and obiligations, prescription drug rebates receivable, accounts payable and accrued expenses and deferred employer contributions incorrectly recorded in the prior year.

Financial Statement Notes

PART X, LINE 2:

The plan files form 990, return of organization exempt from income tax and form 5500, annual return/report of employee benefit plan. The plan's returns are subject to examination by the internal revenue service until the applicable statute of limitations expires.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Reimbursement of shared administrative expenses 4,302,567.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Reimbursement of shared administrative expenses 4,302,567.

Raw XML AppendixShowing 400 of 5,914 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/PersonNm10TOM BERNSTEIN
IRS990/Form990PartVIISectionAGrp/PersonNm11KATHLEEN GRIMM
IRS990/Form990PartVIISectionAGrp/PersonNm12PAMELA KOWALSKI
IRS990/Form990PartVIISectionAGrp/PersonNm13ROBERT KLOTZ
IRS990/Form990PartVIISectionAGrp/PersonNm14MICHAEL APRILE
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
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IRS990/Form990PartVIISectionAGrp/TitleTxt1SEC-TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE - NEW
IRS990/Form990PartVIISectionAGrp/TitleTxt10ADMINISTRATIVE MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt12COMMUNICATION DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13COLLECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14COLLECTOR
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0PROVIDE HEALTH BENEFITS
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0473888167
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IRS990/OtherExpensesGrp/Desc0ALLOCATED SHARE ADMINIS
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/ProgramServiceRevenueGrp/Desc2REIMB. OF SHARED ADMIN EXPENSES
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02483024
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08711241
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LIABILITY TO RETURN COLLATERAL HELD FOR SECURITIES ON LOAN
IRS990ScheduleD/OtherRevenuesNotIncludedAmt04302567
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt07560220
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt139869002
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt298901144
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt313856154
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt48063352
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt537293775
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt633428044
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt730925398
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt815000003
IRS990ScheduleD/OtherSecuritiesGrp/Desc0NTGI-QM COMMON EMERGING MARKETS EQUITY INDEX FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc1COMMON SHORT TERM INVESTMENT FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc2NTGI-QM COMMON US MARKET CAP EQUITY INDEX FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc3LOOMIS SAYLES NHIT HIGH YIELD FULL DISC. TRUST
IRS990ScheduleD/OtherSecuritiesGrp/Desc4LSV INTERNATIONAL SMALL CAP EQUITY FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc5PACIFIC ASSET MANAGEMENT BANK LOAN FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc6PARAMETRIC DEFENSE EQUITY FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc7MEPT EDGEMOOR LP
IRS990ScheduleD/OtherSecuritiesGrp/Desc8PRIME PROPERTY FUND, LLC
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2,298$40.8$2,258$802$581$221
2024Detailed filing. Detailed filing data is available for this year.$2,038$14.9$2,023$759$528$231
2023Detailed filing. Detailed filing data is available for this year.$1,865$74.9$1,790$657$492$165
2022Detailed filing. Detailed filing data is available for this year.$1,804$73.0$1,731$632$464$168
2021Detailed filing. Detailed filing data is available for this year.$1,653$74.5$1,579$577$397$180
2020Detailed filing. Detailed filing data is available for this year.$1,292$44.7$1,247$553$410$144
2019Detailed filing. Detailed filing data is available for this year.$570$33.0$537$232$295$62.8
2018Detailed filing. Detailed filing data is available for this year.$625$51.2$574$182$292$110
2017Detailed filing. Detailed filing data is available for this year.$694$50.0$644$262$253$8.66
2015Detailed filing. Detailed filing data is available for this year.$610$148$462$276$201$75.2
2014Detailed filing. Detailed filing data is available for this year.$554$142$413$272$194$78.0
2013Detailed filing. Detailed filing data is available for this year.$626$154$472$331$252$79.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$507$136$371$237
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$423$133$290$218
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$363$125$237$223