Civic Intelligence

Asbestos Workers Local 42 Welfare Fund

990 • Fiscal year 2021 • EIN 52-6079218

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 08, 2021

Organization ProfileN/A

View Organization Page

140 Sylvan AvenueEnglewood Cliffs, NJ 07632

(888) 717-2091

Siviq Scores

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

Liabilities / Assets

64th percentile

0.07x

Higher debt load relative to assets than 64% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.15x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Net Margin

7th percentile

-62%

Higher net margin than 7% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

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.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2021

Asset Growth

10th percentile

-16%

Faster asset growth than 10% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

17th percentile

-9.7%

Faster revenue growth than 17% of similar nonprofits.

2021 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets64th percentile

Assets

Down

$5,215,338

Down $1,015,768 (-16%) from 2020

Net Assets

Down

$4,832,286

Down $1,215,689 (-20%) from 2020

Liabilities

Up

$383,052

Up $199,921 (+109%) from 2020

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin7th percentile

Revenue

Down

$2,490,963

Down $268,157 (-9.7%) from 2020

Expenses

Up

$4,045,258

Up $491,629 (+14%) from 2020

Net Income

Down

-$1,554,295

Down $759,786 (-96%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth10th 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

2021

Assets$5,215,338
Liabilities$383,052
Net Assets$4,832,286
Open 2021 Filing

Operations Trend

Revenue Growth17th 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

2021

Revenue$2,490,963
Expenses$4,045,258
Net Income-$1,554,295
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 8, 2021
Return Version
2020v4.1
Gross Receipts
$7,653,101
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$6,047,975$4,832,286▼ $1,215,689
Investments in Publicly Traded Securities$5,581,254$4,141,993▼ $1,439,261
Savings and Temporary Cash Investments$148,081$405,491▲ $257,410
Cash and Non-Interest-Bearing Accounts$311,502$404,766▲ $93,264
Accounts Receivable$185,030$257,828▲ $72,798
Prepaid Expenses and Deferred Charges$5,239$5,260▲ $21
Total Assets$6,231,106$5,215,338▼ $1,015,768
Liabilities
Escrow Account Liability$144,831$216,777▲ $71,946
Accounts Payable and Accrued Expenses$38,300$166,275▲ $127,975
Total Liabilities$183,131$383,052▲ $199,921
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,047,975$4,832,286▼ $1,215,689
Total Liabilities and Net Assets / Fund Balance$6,231,106$5,215,338▼ $1,015,768
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Eric DudzinskiEmployer Trustee
John DillonEmployer Trustee
John KlineEmployer Trustee
Steven CastellarinEmployer Trustee (Alt)
Nicholas SmithUnion Trustee
Philip S MitchenerUnion Trustee
Preston SmithUnion Trustee
Joseph FerraraUnion Trustee (Alt)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,098,578
Investment Income
$310,064
Other Revenue
$82,321
Change in Net Assets
$-1,554,295

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,462,620
Revenue Not Reported on Financial Statements
$28,343
Revenue Not Reported on Form 990
$338,606
Total Revenue per Audited Statements
$2,801,226
Total Revenue per Form 990
$2,490,963
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$221,392
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$3,823,866--$3,823,866
Fees for Services Management$100,575$0$0$100,575
Fees for Service Investment Mgmnt Fees$28,343$0$0$28,343
Fees for Services Accounting$25,398$0$0$25,398
Fees for Services Legal$20,000$0$0$20,000
Fees for Services Other$15,623$0$0$15,623
Other Expenses$11,607$0$0$11,607
Office Expenses$9,621$0$0$9,621
Insurance$4,001$0$0$4,001
Conferences and Meetings$2,369$0$0$2,369
Total Functional Expenses$4,045,258$0$0$4,045,258

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,045,258
Expenses per Audited Statements$4,016,915
Total Expenses per Audited Statements$4,016,915
Expenses Not Reported on Financial Statements$28,343
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 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
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
8887172091
Address
140 SYLVAN AVENUE, ENGLEWOOD CLIFFS, NJ 07632
Doing Business As
co ZENITH AMERICAN SOLUTIONS

Signing Officer

Name
Preston Smith
Title
Trustee
Phone
8887172091
Signed
2021-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Preston Smith
Formed
1951
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

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

Additional Explanations

Pt VI, Line 11B

“A copy of the Form 990 is provided 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.”

Pt VI, Line 19

“Governing documents, conflict of interest policy, and financial statements are made available to the public by the Fund's third party administrator.”

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 year there were amounts that had not yet been transferred to the other benefit funds.”

Raw XML Appendix386 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/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0Employer contribtuion
IRS990/ProgramServiceRevenueGrp/Desc1Participant contribution
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01287017
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1811561
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt03377889
IRS990/PYInvestmentIncomeAmt0264334
IRS990/PYOtherExpensesAmt0175740
IRS990/PYOtherRevenueAmt076420
IRS990/PYProgramServiceRevenueAmt02418366
IRS990/PYRevenuesLessExpensesAmt0-794509
IRS990/PYTotalExpensesAmt03553629
IRS990/PYTotalRevenueAmt02759120
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-1554295
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0148081
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0405491
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AdditionsDuringYearAmt01215506
IRS990ScheduleD/AgentTrusteeEtcInd0true
IRS990ScheduleD/BeginningBalanceAmt0144831
IRS990ScheduleD/DistributionsDuringYearAmt01143560
IRS990ScheduleD/EndingBalanceAmt0216777
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt028343
IRS990ScheduleD/ExpensesSubtotalAmt04016915
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt028343
IRS990ScheduleD/InvestmentExpensesNotIncldAmt028343
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0338606
IRS990ScheduleD/RevenueNotReportedAmt0338606
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt028343
IRS990ScheduleD/RevenueSubtotalAmt02462620
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 year 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/TotalExpensesPerForm990Amt04045258
IRS990ScheduleD/TotalRevenuePerForm990Amt02490963
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02801226
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04016915
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the Form 990 is provided 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/ExplanationTxt2Governing documents, conflict of interest policy, and financial statements are made available to the public by the Fund's third party administrator.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06231106
IRS990/TotalAssetsEOYAmt05215338
IRS990/TotalAssetsGrp/BOYAmt06231106
IRS990/TotalAssetsGrp/EOYAmt05215338
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04045258
IRS990/TotalFunctionalExpensesGrp/TotalAmt04045258
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0183131
IRS990/TotalLiabilitiesEOYAmt0383052
IRS990/TotalLiabilitiesGrp/BOYAmt0183131
IRS990/TotalLiabilitiesGrp/EOYAmt0383052
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06047975
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04832286
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt02098578
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0137317
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02353646
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02490963
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06231106
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05215338
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01188 RIVER RD
IRS990/USAddress/CityNm0NEW CASTLE
IRS990/USAddress/StateAbbreviationCd0DE
IRS990/USAddress/ZIPCd019720
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PRESTON SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum08887172091
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASBESTOS WORKERS LOCAL 42 WELFARE FUND
ReturnHeader/Filer/BusinessNameControlTxt0ASBE
ReturnHeader/Filer/EIN0526079218
ReturnHeader/Filer/PhoneNum08887172091
ReturnHeader/Filer/USAddress/AddressLine1Txt0140 SYLVAN AVENUE
ReturnHeader/Filer/USAddress/CityNm0ENGLEWOOD CLIFFS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007632
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/ZIPCd008034
ReturnHeader/PreparerPersonGrp/PhoneNum08564291835
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM J BACHELER CPA
ReturnHeader/ReturnTs02022-04-06T08:16:55-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PRESTON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SMITH
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,215,338
Liabilities
$383,052
Net assets
$4,832,286
Revenue
$2,490,963
Expenses
$4,045,258
Net income
-$1,554,295
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