Civic Intelligence

Local 305 Npmhu Welfare Benefit Trust

990 • Fiscal year 2020 • EIN 54-1363072

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

4907 Fitzhugh Avenue No 100Richmond, VA 23230-3533

(804) 358-4664

Siviq Scores

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

Liabilities / Assets

28th percentile

0.00x

Higher debt load relative to assets than 28% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2020

Net Margin

100th percentile

287%

Higher net margin than 100% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

64th percentile

$12,500

Higher top officer pay than 64% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Asset Growth

54th percentile

8.0%

Faster asset growth than 54% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2019 to 2020

Assets

Up

$7,165,755

Up $531,969 (+8.0%) from 2019

Net Assets

Up

$7,160,755

Up $526,969 (+7.9%) from 2019

Liabilities

Up

$5,000

Up $5,000 from 2019

Revenue

Down

-$74,659

Down $490,882 (-118%) from 2019

Expenses

Down

$139,394

Down $46,969 (-25%) from 2019

Net Income

Down

-$214,053

Down $443,913 (-193%) from 2019

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $4,068,347Liabilities 2011: $960Net Assets 2011: $4,067,3872011Assets 2012: $4,359,972Liabilities 2012: $11,900Net Assets 2012: $4,348,0722012Assets 2013: $5,041,651Liabilities 2013: $18,319Net Assets 2013: $5,023,3322013Assets 2015: $5,150,761Liabilities 2015: $0Net Assets 2015: $5,150,7612015Assets 2016: $5,328,685Liabilities 2016: $0Net Assets 2016: $5,328,6852016Assets 2017: $6,113,309Liabilities 2017: $1,834Net Assets 2017: $6,111,4752017Assets 2018: $5,645,970Liabilities 2018: $0Net Assets 2018: $5,645,9702018Assets 2019: $6,633,786Liabilities 2019: $0Net Assets 2019: $6,633,7862019Assets 2020: $7,165,755Liabilities 2020: $5,000Net Assets 2020: $7,160,7552020Assets 2021: $7,935,682Liabilities 2021: $0Net Assets 2021: $7,935,6822021Assets 2022: $6,334,366Liabilities 2022: $9,637Net Assets 2022: $6,324,7292022Assets 2023: $7,389,651Liabilities 2023: $806Net Assets 2023: $7,388,8452023Assets 2024: $8,297,652Liabilities 2024: $10,478Net Assets 2024: $8,287,1742024

Highlighted filing

2020

Assets$7,165,755
Liabilities$5,000
Net Assets$7,160,755

Operations Trend

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

$600K$400K$200K$0-$200K-$400KRevenue 2011: $197,267Expenses 2011: $103,967Net Income 2011: $93,3002011Revenue 2012: $322,230Expenses 2012: $149,096Net Income 2012: $173,1342012Revenue 2013: $389,517Expenses 2013: $135,098Net Income 2013: $254,4192013Revenue 2015: $460,186Expenses 2015: $145,523Net Income 2015: $314,6632015Revenue 2016: $267,728Expenses 2016: $175,830Net Income 2016: $91,8982016Revenue 2017: $478,241Expenses 2017: $155,664Net Income 2017: $322,5772017Revenue 2018: $442,274Expenses 2018: $340,632Net Income 2018: $101,6422018Revenue 2019: $416,223Expenses 2019: $186,363Net Income 2019: $229,8602019Revenue 2020: -$74,659Expenses 2020: $139,394Net Income 2020: -$214,0532020Revenue 2021: $377,639Expenses 2021: $182,617Net Income 2021: $195,0222021Revenue 2022: $111,711Expenses 2022: $143,818Net Income 2022: -$32,1072022Revenue 2023: $171,376Expenses 2023: $127,648Net Income 2023: $43,7282023Revenue 2024: $261,618Expenses 2024: $111,837Net Income 2024: $149,7812024

Highlighted filing

2020

Revenue-$74,659
Expenses$139,394
Net Income-$214,053
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$101,240
Mission and Program Overview

Mission

The veba is maintained to provide benefits for eligible union members who are sick and have exhausted leave from the u.s. Postal service, to provide a one-time lump sum payout to the beneficiaries of deceased union members, and to provide scholarship assistance for eligible dependents of union members who meet the conditions of eligibility and who are selected pursuant to the participating scholarship plan.

SEE PART III, LINE 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$6,633,786$7,160,755▲ $526,969
Investments in Publicly Traded Securities$6,494,733$7,086,224▲ $591,491
Cash and Non-Interest-Bearing Accounts$30,976$44,187▲ $13,211
Savings and Temporary Cash Investments$106,597$33,864▼ $72,733
Accounts Receivable$1,480$1,480→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$6,633,786$7,165,755▲ $531,969
Liabilities
Accounts Payable and Accrued Expenses-$5,000-
Total Liabilities$0$5,000▲ $5,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,633,786$7,160,755▲ $526,969
Total Liabilities and Net Assets / Fund Balance$6,633,786$7,165,755▲ $531,969
Compensation and Service Providers

Employees

NameTitleBaseTotal
Jack W Burtch JrTrustee$12,500$12,500
Larry PattersonTrustee$12,500$12,500

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$-74,659
Other Revenue
$0
Change in Net Assets
$-214,053

Audited Revenue Reconciliation

Revenue per Audited Statements
$-74,659
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$741,022
Total Revenue per Audited Statements
$666,363
Total Revenue per Form 990
$-74,659
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$52,810
Salaries, Compensation, and Employee Benefits$25,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$61,584
Current Officers, Directors, Trustees, and Key Employees---$25,000
Fees for Services Accounting---$20,352
Insurance---$11,562
Fees for Services Other---$11,248
Fees for Service Investment Mgmnt Fees---$6,512
Fees for Services Legal---$2,739
Other Expenses---$180
Total Functional Expenses$0$0$0$139,394

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$139,394
Total Expenses per Audited Statements$139,394
Total Expenses per Form 990$139,394
Expenses Not Reported on Financial Statements$0
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
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

The local 305, national postal mail handlers union's executive board has the power to appoint and remove trustees.

Form 990, Part VI, Section A, Line 7B

As noted for line 7a, the local 305, national postal mail handlers union's executive board has the power to appoint and remove trustees.

Form 990, Part VI, Section B, Line 11B

The draft form 990 was prepared by the outside accountants and reviewed by the veba's legal counsel. It was then submitted to the trustees for verification and approval before filing with the irs.

Form 990, Part VI, Section B, Line 15

Compensation for trustees had not changed since 1986. In 2014, the trustees determined that compensation for each trustee who is not an officer of the sponsoring union should be increased by $1,000/year, beginning on january 1, 2015 and on each succeeding year until total trustee compensation is $10,000/year, provided that the trustees should choose not to implement the increase in any year immediately following a year in which, in the judgment of the trustees, the annual increase in net assets available for benefits (naab) is not satisfactory. Financial oversight is provided separately and independently by the sponsoring union's treasurer, by outside trust counsel and by independent outside auditors.

Form 990, Part VI, Section C, Line 19

The trust evaluates each request for these documents at the time of the request.

Filing and Contact Details

Filer

Filer Name
Local 305 Npmhu Welfare Benefit Trust
EIN
54-1363072
Phone
8043584664
Address
4907 FITZHUGH AVENUE NO 100, RICHMOND, VA 23230-3533

Signing Officer

Name
Leslie Hamlett
Title
Trustee
Phone
8043584664
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Felandria a Jackson
Formed
1986
Legal Domicile
Va
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Keiterstephenshurstgary & Shreavespc
Address
4401 DOMINION BLVD, GLEN ALLEN, VA 23060
Preparer
Jayme Mika
Phone
8047470000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Management has evaluated the effects of accounting guidance related to uncertain income tax positions and concluded that the trust had no significant financial statement exposure to uncertain income tax positions at december 31, 2020 and 2019. The trust is not currently under audit by any tax jurisdiction.

Raw XML Appendix302 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/Desc0THE SICK PLAN PROVIDES A BENEFIT TO ELIGIBLE UNION MEMBERS WHO MEET THE REQUIREMENTS OF THE PLAN, WHO ARE UNABLE TO WORK BECAUSE OF SICKNESS OR INJURY, AND WHO HAVE EXHAUSTED THE SICK LEAVE, ANNUAL LEAVE, ADVANCE LEAVE AND OTHER AVAILABLE BENEFITS PROVIDED BY THEIR EMPLOYER(S).
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IRS990/MissionDesc0THE VEBA IS MAINTAINED TO PROVIDE BENEFITS FOR ELIGIBLE UNION MEMBERS WHO ARE SICK AND HAVE EXHAUSTED LEAVE FROM THE U.S. POSTAL SERVICE, TO PROVIDE A ONE-TIME LUMP SUM PAYOUT TO THE BENEFICIARIES OF DECEASED UNION MEMBERS, AND TO PROVIDE SCHOLARSHIP ASSISTANCE FOR ELIGIBLE DEPENDENTS OF UNION MEMBERS WHO MEET THE CONDITIONS OF ELIGIBILITY AND WHO ARE SELECTED PURSUANT TO THE PARTICIPATING SCHOLARSHIP PLAN.
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE DEATH PLAN PROVIDES A DEATH BENEFIT FOR ELIGIBLE UNION MEMBERS WHO MEET THE REQUIREMENTS OF THE PLAN AND WHO DIE BEFORE THE PLAN TERMINATES. THE DEATH BENEFIT PROVIDED IN THIS PLAN IS PAYABLE TO THE NAMED BENEFICIARY(IES) OF THE DECEASED ELIGIBLE UNION MEMBER.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED THE EFFECTS OF ACCOUNTING GUIDANCE RELATED TO UNCERTAIN INCOME TAX POSITIONS AND CONCLUDED THAT THE TRUST HAD NO SIGNIFICANT FINANCIAL STATEMENT EXPOSURE TO UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2020 AND 2019. THE TRUST IS NOT CURRENTLY UNDER AUDIT BY ANY TAX JURISDICTION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LOCAL 305, NATIONAL POSTAL MAIL HANDLERS UNION'S EXECUTIVE BOARD HAS THE POWER TO APPOINT AND REMOVE TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS NOTED FOR LINE 7A, THE LOCAL 305, NATIONAL POSTAL MAIL HANDLERS UNION'S EXECUTIVE BOARD HAS THE POWER TO APPOINT AND REMOVE TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DRAFT FORM 990 WAS PREPARED BY THE OUTSIDE ACCOUNTANTS AND REVIEWED BY THE VEBA'S LEGAL COUNSEL. IT WAS THEN SUBMITTED TO THE TRUSTEES FOR VERIFICATION AND APPROVAL BEFORE FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION FOR TRUSTEES HAD NOT CHANGED SINCE 1986. IN 2014, THE TRUSTEES DETERMINED THAT COMPENSATION FOR EACH TRUSTEE WHO IS NOT AN OFFICER OF THE SPONSORING UNION SHOULD BE INCREASED BY $1,000/YEAR, BEGINNING ON JANUARY 1, 2015 AND ON EACH SUCCEEDING YEAR UNTIL TOTAL TRUSTEE COMPENSATION IS $10,000/YEAR, PROVIDED THAT THE TRUSTEES SHOULD CHOOSE NOT TO IMPLEMENT THE INCREASE IN ANY YEAR IMMEDIATELY FOLLOWING A YEAR IN WHICH, IN THE JUDGMENT OF THE TRUSTEES, THE ANNUAL INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS (NAAB) IS NOT SATISFACTORY. FINANCIAL OVERSIGHT IS PROVIDED SEPARATELY AND INDEPENDENTLY BY THE SPONSORING UNION'S TREASURER, BY OUTSIDE TRUST COUNSEL AND BY INDEPENDENT OUTSIDE AUDITORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE TRUST EVALUATES EACH REQUEST FOR THESE DOCUMENTS AT THE TIME OF THE REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06633786
IRS990/TotalAssetsEOYAmt07165755
IRS990/TotalAssetsGrp/BOYAmt06633786
IRS990/TotalAssetsGrp/EOYAmt07165755
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0139394
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt05000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt05000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06633786
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07160755
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt025000
IRS990/TotalRevenueGrp/ExclusionAmt0-74659
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-74659
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06633786
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07165755
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04907 FITZHUGH AVENUE NO 100
IRS990/USAddress/CityNm0RICHMOND
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd0232303533
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.MHU305.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LESLIE HAMLETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum08043584664
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOCAL 305 NPMHU WELFARE BENEFIT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0LOCA
ReturnHeader/Filer/EIN0541363072
ReturnHeader/Filer/PhoneNum08043584664
ReturnHeader/Filer/USAddress/AddressLine1Txt04907 FITZHUGH AVENUE NO 100
ReturnHeader/Filer/USAddress/CityNm0RICHMOND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd0232303533
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541631262
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KEITERSTEPHENSHURSTGARY & SHREAVESPC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04401 DOMINION BLVD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLEN ALLEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023060
ReturnHeader/PreparerPersonGrp/PhoneNum08047470000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAYME MIKA
ReturnHeader/ReturnTs02021-11-15T10:32:08-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LESLIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HAMLETT
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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