Civic Intelligence

Plumbers Local No 98 Insurance Fund

990 • Fiscal year 2020 • EIN 38-6447251

Sep 01, 2019 to Aug 31, 2020 • Filed on Apr 28, 2021

Refreshing map…

700 Tower DriveTroy, MI 48098-2808

(248) 813-9800

Siviq Scores

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

Liabilities / Assets

40th percentile

0.01x

Higher debt load relative to assets than 40% of similar nonprofits.

2020 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

38th percentile

0.01x

Higher debt load relative to revenue than 38% of similar nonprofits.

2020 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2020

Net Margin

66th percentile

14%

Higher net margin than 66% of similar nonprofits.

2020 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

69th percentile

$102,007

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2020 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2020

Asset Growth

66th percentile

12%

Faster asset growth than 66% of similar nonprofits.

2020 filings • 501(c)9 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

79th percentile

12%

Faster revenue growth than 79% of similar nonprofits.

2020 filings • 501(c)9 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$20,825,151

Up $2,210,905 (+12%) from 2019

Net Assets

Up

$20,718,772

Up $2,210,083 (+12%) from 2019

Liabilities

Up

$106,379

Up $822 (+0.8%) from 2019

Revenue

Up

$16,423,063

Up $1,740,789 (+12%) from 2019

Expenses

Down

$14,108,770

Down $2,870,019 (-17%) from 2019

Net Income

Up

$2,314,293

Up $4,610,808 (+201%) from 2019

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $3,761,657Liabilities 2010: $43,885Net Assets 2010: $3,717,7722010Assets 2011: $11,903,792Liabilities 2011: $35,592Net Assets 2011: $11,868,2002011Assets 2012: $18,201,372Liabilities 2012: $49,301Net Assets 2012: $18,152,0712012Assets 2013: $21,150,197Liabilities 2013: $48,170Net Assets 2013: $21,102,0272013Assets 2014: $23,042,964Liabilities 2014: $70,847Net Assets 2014: $22,972,1172014Assets 2015: $21,334,656Liabilities 2015: $53,383Net Assets 2015: $21,281,2732015Assets 2016: $19,953,061Liabilities 2016: $73,956Net Assets 2016: $19,879,1052016Assets 2017: $21,376,068Liabilities 2017: $85,040Net Assets 2017: $21,291,0282017Assets 2018: $19,982,109Liabilities 2018: $77,204Net Assets 2018: $19,904,9052018Assets 2019: $18,614,246Liabilities 2019: $105,557Net Assets 2019: $18,508,6892019Assets 2020: $20,825,151Liabilities 2020: $106,379Net Assets 2020: $20,718,7722020Assets 2021: $23,353,131Liabilities 2021: $106,268Net Assets 2021: $23,246,8632021Assets 2022: $21,054,368Liabilities 2022: $151,807Net Assets 2022: $20,902,5612022Assets 2023: $21,963,610Liabilities 2023: $110,851Net Assets 2023: $21,852,7592023Assets 2024: $25,974,468Liabilities 2024: $92,892Net Assets 2024: $25,881,5762024

Highlighted filing

2020

Assets$20,825,151
Liabilities$106,379
Net Assets$20,718,772

Operations Trend

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

$20M$10M$0-$10MRevenue 2010: $12,874,556Expenses 2010: $11,609,904Net Income 2010: $1,264,6522010Expenses 2011: $8,811,6382011Expenses 2012: $9,651,8562012Revenue 2013: $12,931,542Expenses 2013: $9,981,586Net Income 2013: $2,949,9562013Revenue 2014: $13,446,861Expenses 2014: $11,576,771Net Income 2014: $1,870,0902014Revenue 2015: $14,403,558Expenses 2015: $14,029,245Net Income 2015: $374,3132015Revenue 2016: $13,208,483Expenses 2016: $16,006,415Net Income 2016: -$2,797,9322016Revenue 2017: $16,258,058Expenses 2017: $15,495,961Net Income 2017: $762,0972017Revenue 2018: $15,728,348Expenses 2018: $17,654,787Net Income 2018: -$1,926,4392018Revenue 2019: $14,682,274Expenses 2019: $16,978,789Net Income 2019: -$2,296,5152019Revenue 2020: $16,423,063Expenses 2020: $14,108,770Net Income 2020: $2,314,2932020Revenue 2021: $17,830,700Expenses 2021: $16,473,853Net Income 2021: $1,356,8472021Revenue 2022: $14,696,130Expenses 2022: $15,049,775Net Income 2022: -$353,6452022Revenue 2023: $16,261,019Expenses 2023: $14,622,655Net Income 2023: $1,638,3642023Revenue 2024: $17,059,470Expenses 2024: $16,174,191Net Income 2024: $885,2792024

Highlighted filing

2020

Revenue$16,423,063
Expenses$14,108,770
Net Income$2,314,293
Jump To
Filing Snapshot
Filing Period
Sep 1, 2019 to Aug 31, 2020
Signed
Apr 28, 2021
Return Version
2019v5.0
Gross Receipts
$16,583,384
Mission and Program Overview

Mission

Providing health and welfare benefits

Plumbers local 98 insurance fund is a taft-hartley multi-employer fund that provides hospital, medical, prescription, dental, life, vision, hearing, disability and other supplemental benefits on behalf of the members of plumbers local 98 and their beneficiaries and dependents prusant to the collective bargaining agreement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$18,508,689$20,718,772▲ $2,210,083
Investments in Publicly Traded Securities$16,178,645$17,252,183▲ $1,073,538
Cash and Non-Interest-Bearing Accounts$816,632$2,145,397▲ $1,328,765
Accounts Receivable$1,341,850$1,070,968▼ $270,882
Prepaid Expenses and Deferred Charges$109,709$189,498▲ $79,789
Savings and Temporary Cash Investments$167,410$167,105▼ $305
Total Assets$18,614,246$20,825,151▲ $2,210,905
Liabilities
Accounts Payable and Accrued Expenses$105,557$106,379▲ $822
Total Liabilities$105,557$106,379▲ $822
Net Assets / Fund Balance
Total Net Assets Fund Balance$18,508,689$20,718,772▲ $2,210,083
Total Liabilities and Net Assets / Fund Balance$18,614,246$20,825,151▲ $2,210,905
Compensation and Service Providers

Employees

NameTitleOtherTotal
Jon DerooTrustee$102,007$102,007
Wade KovachTrustee$101,007$101,007
Carlo CastiglioneSecretary$7,268$7,268

Board Members and Trustees

NameTitle
John R GreenChairman
Carl EvansTrustee
Christopher FreemanTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Benesys INCTpa, Management700 TOWER DRIVE, SUITE 300, Troy, MI 48098$393,968
Health Plan AdvocateConsulting1550 EAST BELTLINE, SUITE 175, Grand Rapids, MI 49506$120,794
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$14,735,029
Investment Income
$1,681,683
Other Revenue
$6,351
Change in Net Assets
$2,314,293

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,423,063
Revenue Not Reported on Form 990
$-104,210
Total Revenue per Audited Statements
$16,318,853
Total Revenue per Form 990
$16,423,063
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,023,752
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---$13,085,018
Fees for Services Other---$441,989
Fees for Services Management---$329,470
Office Expenses---$106,777
Fees for Services Legal---$42,438
Fees for Service Investment Mgmnt Fees---$29,042
Insurance---$15,299
Fees for Services Accounting---$14,000
Conferences and Meetings---$8,456
Information Technology---$1,800
Other Expenses---$700
Total Functional Expenses$0$0$0$14,108,770

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,108,770
Total Expenses per Audited Statements$14,108,770
Total Expenses per Form 990$14,108,770
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
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Benesys, inc. Is the third party administrator for the day-to-day operations of the fund.

Form 990, Page 6, Part VI, Line 11B

The board of trustees is presented with form 990 prior to approval.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Plumbers Local 98 Insurance Fund
EIN
38-6447251
Phone
2488139800
Address
700 TOWER DRIVE, TROY, MI 48098-2808

Signing Officer

Name
Carlo Castiglione
Title
Secretary
Phone
2488139800
Signed
2021-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carlo Castiglione
Formed
1982
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
3
Employees
26
Volunteers
6

Preparer

Firm
Bultynck & Co Pllc
Address
15985 CANAL RD, CLINTON TOWNSHIP, MI 48038-5021
Preparer
Christopher Scott Cpapfs Mst
Phone
5862867300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Plumbers local 98 insurance fund is a taft-hartley multi-employer fund that provides hospital, medical, prescription, dental, life, vision, hearing, disability and other supplemental benefits on behalf of the members of plumbers local 98 and their beneficiaries and dependents prusant to the collective bargaining agreement.

Form 990, Page 1, Part I, Line 6

Volunteers consist of uncompensated board members.

Financial Statement Notes

Schedule D, Page 3, Part X

The plan obtained a favorable determination letter on february 27, 1984, in which the internal revenue service stated that the plan and related trust, as then designed, was in compliance with applicable requirements of the internal revenue code. The plan has been amended since receiving the determination letter. However, the plan administrator and the plan's legal counsel believe the plan is currently designed and being operated in compliance with the applicable requirements of the internal revenue code. Accounting principles generally accepted in the united states of america require plan management to evaluate tax positions taken by the plan and recognize a tax liability if the plan has taken an uncertain tax position that more likely than not would not be sustained upon examination by the internal revenue service. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax examinations for years prior to 2017.

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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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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PLAN OBTAINED A FAVORABLE DETERMINATION LETTER ON FEBRUARY 27, 1984, IN WHICH THE INTERNAL REVENUE SERVICE STATED THAT THE PLAN AND RELATED TRUST, AS THEN DESIGNED, WAS IN COMPLIANCE WITH APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE. THE PLAN HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER. HOWEVER, THE PLAN ADMINISTRATOR AND THE PLAN'S LEGAL COUNSEL BELIEVE THE PLAN IS CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY IF THE PLAN HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE PLAN ADMINISTRATOR BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalExpensesPerForm990Amt014108770
IRS990ScheduleD/TotalRevenuePerForm990Amt016423063
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt016318853
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt014108770
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PLUMBERS LOCAL 98 INSURANCE FUND IS A TAFT-HARTLEY MULTI-EMPLOYER FUND THAT PROVIDES HOSPITAL, MEDICAL, PRESCRIPTION, DENTAL, LIFE, VISION, HEARING, DISABILITY AND OTHER SUPPLEMENTAL BENEFITS ON BEHALF OF THE MEMBERS OF PLUMBERS LOCAL 98 AND THEIR BENEFICIARIES AND DEPENDENTS PRUSANT TO THE COLLECTIVE BARGAINING AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VOLUNTEERS CONSIST OF UNCOMPENSATED BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BENESYS, INC. IS THE THIRD PARTY ADMINISTRATOR FOR THE DAY-TO-DAY OPERATIONS OF THE FUND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF TRUSTEES IS PRESENTED WITH FORM 990 PRIOR TO APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd5N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd6N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd7N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd8N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd9N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd10N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd11N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd12N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd13N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd14N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd15N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd16N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd17N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd18N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd19N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd20N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd21N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd22N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd23N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd24N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd25N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd26N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd27N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd28N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd29N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd30N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd31N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd32N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd34N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd35N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd40N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd41N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd42N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd48N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd61N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd63N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0999999999
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1999999999
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN3999999999

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.0$0.09$25.9$17.1$16.2$0.89
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.0$0.11$21.9$16.3$14.6$1.64
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.1$0.15$20.9$14.7$15.0$0.35
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.4$0.11$23.2$17.8$16.5$1.36
2020Detailed filing. Detailed filing data is available for this year.$20.8$0.11$20.7$16.4$14.1$2.31
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.6$0.11$18.5$14.7$17.0$2.30
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.0$0.08$19.9$15.7$17.7$1.93
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.4$0.09$21.3$16.3$15.5$0.76
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.0$0.07$19.9$13.2$16.0$2.80
2015Detailed filing. Detailed filing data is available for this year.$21.3$0.05$21.3$14.4$14.0$0.37
2014Detailed filing. Detailed filing data is available for this year.$23.0$0.07$23.0$13.4$11.6$1.87
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.2$0.05$21.1$12.9$9.98$2.95
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.2$0.05$18.2$9.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$0.04$11.9$8.81
2010Summary only. Only limited summary data is available for this year.$3.76$0.04$3.72$12.9$11.6$1.26