Civic Intelligence

Asbestos Workers Local 42 Welfare Fund

990 • Fiscal year 2019 • EIN 52-6079218

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 11, 2020

Organization ProfileN/A

View Organization Page

400 Franklin AvenuePhoenixville, PA 19640

(215) 483-6000

Siviq Scores

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

Liabilities / Assets

59th percentile

0.05x

Higher debt load relative to assets than 59% of similar nonprofits.

2019 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

69th percentile

0.10x

Higher debt load relative to revenue than 69% of similar nonprofits.

2019 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2019

Net Margin

18th percentile

-6.7%

Higher net margin than 18% of similar nonprofits.

2019 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2019 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2019

Asset Growth

33rd percentile

2.1%

Faster asset growth than 33% of similar nonprofits.

2019 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

77th percentile

16%

Faster revenue growth than 77% of similar nonprofits.

2019 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$7,248,715

Up $148,333 (+2.1%) from 2018

Net Assets

Down

$6,908,929

Down $93,002 (-1.3%) from 2018

Liabilities

Up

$339,786

Up $241,335 (+245%) from 2018

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin18th percentile

Revenue

Up

$3,363,328

Up $462,571 (+16%) from 2018

Expenses

Up

$3,587,511

Up $55,848 (+1.6%) from 2018

Net Income

Up

-$224,183

Up $406,723 (+64%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $5,336,990Liabilities 2010: $312,182Net Assets 2010: $5,024,8082010Assets 2011: $5,818,051Liabilities 2011: $59,430Net Assets 2011: $5,758,6212011Assets 2012: $5,891,227Liabilities 2012: $25,284Net Assets 2012: $5,865,9432012Assets 2013: $6,265,618Liabilities 2013: $38,593Net Assets 2013: $6,227,0252013Assets 2014: $6,984,065Liabilities 2014: $25,261Net Assets 2014: $6,958,8042014Assets 2015: $7,472,332Liabilities 2015: $41,596Net Assets 2015: $7,430,7362015Assets 2016: $7,461,904Liabilities 2016: $112,944Net Assets 2016: $7,348,9602016Assets 2017: $7,659,903Liabilities 2017: $166,105Net Assets 2017: $7,493,7982017Assets 2018: $7,100,382Liabilities 2018: $98,451Net Assets 2018: $7,001,9312018Assets 2019: $7,248,715Liabilities 2019: $339,786Net Assets 2019: $6,908,9292019Assets 2020: $6,231,106Liabilities 2020: $183,131Net Assets 2020: $6,047,9752020Assets 2021: $5,215,338Liabilities 2021: $383,052Net Assets 2021: $4,832,2862021Assets 2022: $4,864,672Liabilities 2022: $951,535Net Assets 2022: $3,913,1372022Assets 2023: $3,601,528Liabilities 2023: $661,114Net Assets 2023: $2,940,4142023Assets 2024: $3,097,217Liabilities 2024: $504,501Net Assets 2024: $2,592,7162024

Highlighted filing

2019

Assets$7,248,715
Liabilities$339,786
Net Assets$6,908,929
Open 2019 Filing

Operations Trend

Revenue Growth77th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,063,9662010Expenses 2011: $2,179,7712011Revenue 2012: $2,590,740Expenses 2012: $2,558,816Net Income 2012: $31,9242012Expenses 2013: $2,262,8592013Revenue 2014: $2,881,528Expenses 2014: $2,284,481Net Income 2014: $597,0472014Revenue 2015: $3,026,644Expenses 2015: $2,612,849Net Income 2015: $413,7952015Revenue 2016: $2,836,790Expenses 2016: $3,101,577Net Income 2016: -$264,7872016Revenue 2017: $1,724,398Expenses 2017: $2,625,333Net Income 2017: -$900,9352017Revenue 2018: $2,900,757Expenses 2018: $3,531,663Net Income 2018: -$630,9062018Revenue 2019: $3,363,328Expenses 2019: $3,587,511Net Income 2019: -$224,1832019Revenue 2020: $2,759,120Expenses 2020: $3,553,629Net Income 2020: -$794,5092020Revenue 2021: $2,490,963Expenses 2021: $4,045,258Net Income 2021: -$1,554,2952021Revenue 2022: $2,576,578Expenses 2022: $3,256,165Net Income 2022: -$679,5872022Revenue 2023: $2,696,822Expenses 2023: $3,660,964Net Income 2023: -$964,1422023Revenue 2024: $3,003,872Expenses 2024: $3,364,351Net Income 2024: -$360,4792024

Highlighted filing

2019

Revenue$3,363,328
Expenses$3,587,511
Net Income-$224,183
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 11, 2020
Return Version
2018v3.1
Gross Receipts
$8,978,120
Mission and Program Overview

Mission

The exempt purpose of the plan is to provideparticipants and their dependents with health, accident, disability and death benefits.

To provide participants and their dependents with health, accident, disability and death benefits.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$7,001,931$6,908,929▼ $93,002
Investments in Publicly Traded Securities$6,639,959$6,341,657▼ $298,302
Accounts Receivable$289,387$382,992▲ $93,605
Cash and Non-Interest-Bearing Accounts$101,988$373,874▲ $271,886
Savings and Temporary Cash Investments$69,048$145,303▲ $76,255
Prepaid Expenses and Deferred Charges$0$4,889▲ $4,889
Total Assets$7,100,382$7,248,715▲ $148,333
Liabilities
Escrow Account Liability-$287,510-
Accounts Payable and Accrued Expenses$98,451$52,276▼ $46,175
Total Liabilities$98,451$339,786▲ $241,335
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,001,931$6,908,929▼ $93,002
Total Liabilities and Net Assets / Fund Balance$7,100,382$7,248,715▲ $148,333
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Eric DudzinskeEmployer Trustee
John KlineEmployer Trustee
Joseph FerraraUnion Trustee
Kevin F GalbraithUnion Trustee
Nicholas SmithUnion Trustee
Philip S MitchenerUnion Trustee
Preston SmithUnion Trustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,941,604
Investment Income
$310,074
Other Revenue
$111,650
Change in Net Assets
$-224,183

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,336,674
Revenue Not Reported on Financial Statements
$26,654
Revenue Not Reported on Form 990
$131,181
Total Revenue per Audited Statements
$3,467,855
Total Revenue per Form 990
$3,363,328
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$171,287
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$0--$3,416,224
Fees for Services Management$70,796$0$0$70,796
Fees for Service Investment Mgmnt Fees$26,654$0$0$26,654
Fees for Services Accounting$21,078$0$0$21,078
Fees for Services Legal$15,084$0$0$15,084
Other Expenses$14,494$0$0$14,494
Fees for Services Other$12,000$0$0$12,000
Office Expenses$3,253$0$0$3,253
Conferences and Meetings$3,199$0$0$3,199
Insurance$2,564$0$0$2,564
Total Functional Expenses$171,287$0$0$3,587,511

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,587,511
Expenses per Audited Statements$3,560,857
Total Expenses per Audited Statements$3,560,857
Expenses Not Reported on Financial Statements$26,654
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
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Asbestos Workers Local 42 Welfare Fund
EIN
52-6079218
Phone
2154836000
Address
400 FRANKLIN AVENUE, PHOENIXVILLE, PA 19640

Signing Officer

Name
Preston Smith
Title
Trustee
Phone
2154836000
Signed
2020-03-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Preston Smith
Formed
1951
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Bacheler & Company Pc
Address
400 S KINGS HWY, CHERRY HILL, NJ 08034-2511
Preparer
William J Bacheler CPA
Phone
8564291835
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“A copy of the Form 990 is proveded to the third party administrator and to the members of the Board of Trustees, for review before it is filed.”

Pt VI, Line 12C

“The Board of Trustees monitors the confict of interest policy annually for any potential conflicts.”

Financial Statement Notes

Pt IV, Line 1B

“The organization deposits checks from employers that include amounts that are due to other collectively bargained benefit funds. The organization then transfers the amounts due to the other benefits funds to those benefit funds.”

Pt IV, Line 2B

“At the end of the their there were amounts that had not yet been transferred to the other benefit funds.”

Raw XML Appendix376 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/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt069048
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0145303
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AdditionsDuringYearAmt02390181
IRS990ScheduleD/AgentTrusteeEtcInd0true
IRS990ScheduleD/BeginningBalanceAmt00
IRS990ScheduleD/DistributionsDuringYearAmt02102671
IRS990ScheduleD/EndingBalanceAmt0287510
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt026654
IRS990ScheduleD/ExpensesSubtotalAmt03560857
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt026654
IRS990ScheduleD/InvestmentExpensesNotIncldAmt026654
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0131181
IRS990ScheduleD/RevenueNotReportedAmt0131181
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt026654
IRS990ScheduleD/RevenueSubtotalAmt03336674
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization deposits checks from employers that include amounts that are due to other collectively bargained benefit funds. The organization then transfers the amounts due to the other benefits funds to those benefit funds.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1At the end of the their there were amounts that had not yet been transferred to the other benefit funds.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt IV, Line 1b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt IV, Line 2b
IRS990ScheduleD/TotalExpensesPerForm990Amt03587511
IRS990ScheduleD/TotalRevenuePerForm990Amt03363328
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03467855
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03560857
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the Form 990 is proveded to the third party administrator and to the members of the Board of Trustees, for review before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board of Trustees monitors the confict of interest policy annually for any potential conflicts.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07100382
IRS990/TotalAssetsEOYAmt07248715
IRS990/TotalAssetsGrp/BOYAmt07100382
IRS990/TotalAssetsGrp/EOYAmt07248715
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0171287
IRS990/TotalFunctionalExpensesGrp/TotalAmt03587511
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt098451
IRS990/TotalLiabilitiesEOYAmt0339786
IRS990/TotalLiabilitiesGrp/BOYAmt098451
IRS990/TotalLiabilitiesGrp/EOYAmt0339786
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07001931
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06908929
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt02941604
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0240821
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03122507
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03363328
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07100382
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07248715
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0400 FRANKLIN AVE
IRS990/USAddress/CityNm0PHOENIXVILLE
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019640
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PRESTON SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum02154836000
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASBESTOS WORKERS LOCAL 42 WELFARE FUND
ReturnHeader/Filer/BusinessNameControlTxt0ASBE
ReturnHeader/Filer/EIN0526079218
ReturnHeader/Filer/PhoneNum02154836000
ReturnHeader/Filer/USAddress/AddressLine1Txt0400 FRANKLIN AVENUE
ReturnHeader/Filer/USAddress/CityNm0PHOENIXVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd019640
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F8CA2DC0D207690954A5E02641C4179D145B9DA3
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F8CA2DC0D207690954A5E02641C4179D145B9DA3
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.82.237.58
ReturnHeader/FilingSecurityInformation/IPDt02020-03-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm007:52:46
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BACHELER & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0400 S KINGS HWY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHERRY HILL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0080342511
ReturnHeader/PreparerPersonGrp/PhoneNum08564291835
ReturnHeader/PreparerPersonGrp/PreparationDt02020-03-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM J BACHELER CPA
ReturnHeader/ReturnTs02020-03-19T07:52:51-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,248,715
Liabilities
$339,786
Net assets
$6,908,929
Revenue
$3,363,328
Expenses
$3,587,511
Net income
-$224,183
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.10$0.50$2.59$3.00$3.36$0.36
2023Detailed filing. Detailed filing data is available for this year.$3.60$0.66$2.94$2.70$3.66$0.96
2022Detailed filing. Detailed filing data is available for this year.$4.86$0.95$3.91$2.58$3.26$0.68
2021Detailed filing. Detailed filing data is available for this year.$5.22$0.38$4.83$2.49$4.05$1.55
2020Detailed filing. Detailed filing data is available for this year.$6.23$0.18$6.05$2.76$3.55$0.79
2019Detailed filing. Detailed filing data is available for this year.$7.25$0.34$6.91$3.36$3.59$0.22
2018Detailed filing. Detailed filing data is available for this year.$7.10$0.10$7.00$2.90$3.53$0.63
2017Detailed filing. Detailed filing data is available for this year.$7.66$0.17$7.49$1.72$2.63$0.90
2016Detailed filing. Detailed filing data is available for this year.$7.46$0.11$7.35$2.84$3.10$0.26
2015Detailed filing. Detailed filing data is available for this year.$7.47$0.04$7.43$3.03$2.61$0.41
2014Detailed filing. Detailed filing data is available for this year.$6.98$0.03$6.96$2.88$2.28$0.60
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.27$0.04$6.23$2.26
2012Summary only. Only limited summary data is available for this year.$5.89$0.03$5.87$2.59$2.56$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.82$0.06$5.76$2.18
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.34$0.31$5.02$3.06