Civic Intelligence

Iron Workers Trust Fund Local #5 Washington DC

EIN 52-6057762 • 501(c)9 • Pittsburgh, PA

Profile

Provide health benefits to union employees.

3 Gateway Ctr 401 Liberty No 120Pittsburgh, PA 15222

www.gemgroup.com

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.18x

Higher debt load relative to assets than 72% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

0.66x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Source year 2023

Net Margin

8th percentile

-36%

Higher net margin than 8% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

66th percentile

11%

Faster asset growth than 66% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

21st percentile

-2.7%

Faster revenue growth than 21% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Assets

Up

$52,451,908

Up $5,014,271 (+11%) from 2022

Liabilities

Up

$9,541,784

Up $9,280,895 (+3557%) from 2022

Net Assets

Down

$42,910,124

Down $4,266,624 (-9.0%) from 2022

Revenue

Down

$14,432,146

Down $407,089 (-2.7%) from 2022

Expenses

Up

$19,629,067

Up $7,039,298 (+56%) from 2022

Net Income

Down

-$5,196,921

Down $7,446,387 (-331%) from 2022

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $7,061,326Liabilities 2010: $141,049Net Assets 2010: $6,920,2772010Assets 2011: $5,648,184Liabilities 2011: $57,422Net Assets 2011: $5,590,7622011Assets 2012: $5,381,671Liabilities 2012: $413,556Net Assets 2012: $4,968,1152012Assets 2013: $5,852,058Liabilities 2013: $125,276Net Assets 2013: $5,726,7822013Assets 2014: $6,243,610Liabilities 2014: $217,663Net Assets 2014: $6,025,9472014Assets 2015: $5,540,281Liabilities 2015: $217,876Net Assets 2015: $5,322,4052015Assets 2016: $7,088,210Liabilities 2016: $287,411Net Assets 2016: $6,800,7992016Assets 2017: $14,776,186Liabilities 2017: $185,146Net Assets 2017: $14,591,0402017Assets 2018: $21,548,666Liabilities 2018: $330,268Net Assets 2018: $21,218,3982018Assets 2019: $27,899,060Liabilities 2019: $324,973Net Assets 2019: $27,574,0872019Assets 2020: $43,565,413Liabilities 2020: $422,419Net Assets 2020: $43,142,9942020Assets 2021: $48,333,170Liabilities 2021: $279,984Net Assets 2021: $48,053,1862021Assets 2022: $47,437,637Liabilities 2022: $260,889Net Assets 2022: $47,176,7482022Assets 2023: $52,451,908Liabilities 2023: $9,541,784Net Assets 2023: $42,910,1242023

Highlighted filing

2023

Assets$52,451,908
Liabilities$9,541,784
Net Assets$42,910,124

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $8,027,8502010Expenses 2011: $8,105,8262011Expenses 2012: $9,279,8562012Expenses 2013: $10,044,6512013Revenue 2014: $9,889,860Expenses 2014: $9,586,270Net Income 2014: $303,5902014Revenue 2015: $9,751,295Expenses 2015: $10,401,748Net Income 2015: -$650,4532015Revenue 2016: $12,226,336Expenses 2016: $10,811,384Net Income 2016: $1,414,9522016Revenue 2017: $15,404,552Expenses 2017: $7,611,034Net Income 2017: $7,793,5182017Revenue 2018: $15,855,685Expenses 2018: $9,031,114Net Income 2018: $6,824,5712018Revenue 2019: $14,378,839Expenses 2019: $8,554,877Net Income 2019: $5,823,9622019Revenue 2020: $24,917,491Expenses 2020: $9,803,690Net Income 2020: $15,113,8012020Revenue 2021: $14,719,245Expenses 2021: $11,691,948Net Income 2021: $3,027,2972021Revenue 2022: $14,839,235Expenses 2022: $12,589,769Net Income 2022: $2,249,4662022Revenue 2023: $14,432,146Expenses 2023: $19,629,067Net Income 2023: -$5,196,9212023

Highlighted filing

2023

Revenue$14,432,146
Expenses$19,629,067
Net Income-$5,196,921

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$52.5$9.54$42.9$14.4$19.6$5.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$47.4$0.26$47.2$14.8$12.6$2.25
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.3$0.28$48.1$14.7$11.7$3.03
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.6$0.42$43.1$24.9$9.80$15.1
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.9$0.32$27.6$14.4$8.55$5.82
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.5$0.33$21.2$15.9$9.03$6.82
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.8$0.19$14.6$15.4$7.61$7.79
2016Detailed filing. Detailed filing data is available for this year.$7.09$0.29$6.80$12.2$10.8$1.41
2015Detailed filing. Detailed filing data is available for this year.$5.54$0.22$5.32$9.75$10.4$0.65
2014Summary only. Only limited summary data is available for this year.$6.24$0.22$6.03$9.89$9.59$0.30
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.85$0.13$5.73$10.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.38$0.41$4.97$9.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.65$0.06$5.59$8.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.06$0.14$6.92$8.03
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2020 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Apr 30, 2021
Return Version
2019v5.2
Gross Receipts
$27,036,393
Mission and Program Overview

Mission

Provide health benefits to union employees.

Provide health benefits to union employees covered by a collective bargaining agreement

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$27,574,087$43,142,994▲ $15,568,907
Cash and Non-Interest-Bearing Accounts$11,915,864$20,937,016▲ $9,021,152
Investments in Publicly Traded Securities$8,395,316$13,021,932▲ $4,626,616
Investments Other Securities$6,102,196$7,727,830▲ $1,625,634
Accounts Receivable$1,483,900$1,876,646▲ $392,746
Prepaid Expenses and Deferred Charges$1,784$1,989▲ $205
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$27,899,060$43,565,413▲ $15,666,353
Liabilities
Accounts Payable and Accrued Expenses$324,973$412,482▲ $87,509
Other Liabilities$0$9,937▲ $9,937
Total Liabilities$324,973$422,419▲ $97,446
Net Assets / Fund Balance
Total Net Assets Fund Balance$27,574,087$43,142,994▲ $15,568,907
Total Liabilities and Net Assets / Fund Balance$27,899,060$43,565,413▲ $15,666,353

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,189,661--
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Cvs HealthInsurance695 GEORGE WASHINGTON HIGHWAY, Lincoln, RI 02865$2,773,642
Zenith American SolutionsTpa1200 3 GATEWAY CENTER, Pittsburgh, PA 15222$448,012
CarefirstAdmin & Access FeesPO BOX 981608, El Paso, TX 79998$169,260
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$17,029,420
Investment Income
$364,205
Other Revenue
$7,523,866
Change in Net Assets
$15,113,801

Audited Revenue Reconciliation

Revenue per Audited Statements
$24,902,037
Revenue Not Reported on Financial Statements
$15,454
Revenue Not Reported on Form 990
$455,106
Total Revenue per Audited Statements
$25,357,143
Total Revenue per Form 990
$24,917,491
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$894,738
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---$8,908,952
Fees for Services Management---$406,512
Fees for Services Other---$84,982
Fees for Services Legal---$36,260
Fees for Services Accounting---$25,033
Office Expenses---$20,252
Conferences and Meetings---$17,527
Fees for Service Investment Mgmnt Fees---$15,454
All Other Expenses---$10,386
Other Expenses---$9,828
Insurance---$6,685
Total Functional Expenses$0$0$0$9,803,690

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$9,803,690
Expenses per Audited Statements$9,788,236
Total Expenses per Audited Statements$9,788,236
Expenses Not Reported on Financial Statements$15,454
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
Due to Broker$9,937
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

All trustees are provided a copy of the completed form before it is filed.

Form 990, Part VI, Section C, Line 19

Participants can review the fund's documents at the fund office.

Filing and Contact Details

Filer

Filer Name
IRON WORKERS TRUST FUND LOCAL #5
EIN
52-6057762
Phone
4124712885
Address
3 GATEWAY CTR 401 LIBERTY NO 120, PITTSBURGH, PA 15222

Signing Officer

Name
Aaron Bast
Title
Trustee
Phone
4124712885
Signed
2021-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aaron Bast
Formed
1951
Legal Domicile
Md
Voting Board Members
10
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Calibre CPA Group Pllc
Address
7501 WISCONSIN AVENUE STE 1200W, BETHESDA, MD 20814
Preparer
Peter P Osman CPA
Phone
2023319880
Supplemental Narrative

Additional Explanations

Part XI, Line 2C

This process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

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 (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the irs or the various states the plan files returns. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Raw XML AppendixShowing 400 of 620 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/OtherExpensesGrp/Desc1POSTAGE AND DELIVERY
IRS990/OtherExpensesGrp/Desc2BANK CHARGES
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS FEES
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11189661
IRS990ScheduleD/OtherSecuritiesGrp/Desc0SSGA INTERMEDIATE US GOVT/CREDIT
IRS990ScheduleD/OtherSecuritiesGrp/Desc1AFL-CIO HOUSING INVESTMENT TRUST
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IRS990ScheduleD/RevenueSubtotalAmt024902037
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING 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 (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR THE VARIOUS STATES THE PLAN FILES RETURNS. THE PLAN 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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IRS990ScheduleD/TotalExpensesPerForm990Amt09803690
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IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0AARON BAST
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1RAYMOND CLELAND
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2WILLIAM BECKMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2TRUSTEE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL TRUSTEES ARE PROVIDED A COPY OF THE COMPLETED FORM BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PARTICIPANTS CAN REVIEW THE FUND'S DOCUMENTS AT THE FUND OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0A C DELLOVADE INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1SOMERSET STEEL & ERECTION CO INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2SECURITY VAULT WORKS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3SCHUFF STEEL COMPANY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4SARENS USA INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5PURPLE LINE TRANSIT CONSTRUCTORS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt6PREMIER CONSULTANTS INTERNATIONAL INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt7PRECAST SERVICES INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt8PEVARNIK BROTHERS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt9PERMASTEELISA NORTH AMERICA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt10OXFORD AIRPORT TECH SERVICES
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt11MIRACLE STEEL INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt12MIDWEST STEEL INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt13MID ATLANTIC PRECAST ERECTORS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt14METRO STEEL INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt15MCMAHON DOOR & ERECTION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt16MC DONOUGH CONSTRUCTION RENTALS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt17MAMMOET USA NORTH INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt18SOUTH CAPITOL BRIDGEBUILDERS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt19LONG FENCE COMPANY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt20SUPERIOR IRON WORKS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt21TATE ORNAMENTAL INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt22WILLIAMS CONSTRUCTION CO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt23WHITE LINE CONSTRUCTION INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt24WHITE CONSTRUCTION INC

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