Civic Intelligence

Retiree'S Welfare Trust

990 • Fiscal year 2018 • EIN 91-6065367

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 12, 2019

Organization ProfileN/A

View Organization Page

2323 Eastlake Ave EastSeattle, WA 98102

(206) 329-4900

Siviq Scores

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

Liabilities / Assets

61st percentile

0.08x

Higher debt load relative to assets than 61% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

73rd percentile

0.16x

Higher debt load relative to revenue than 73% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2018

Net Margin

48th percentile

6.1%

Higher net margin than 48% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2018 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2018

Asset Growth

47th percentile

2.3%

Faster asset growth than 47% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

35th percentile

1.4%

Faster revenue growth than 35% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$66,484,264

Up $1,502,435 (+2.3%) from 2017

Net Assets

Up

$61,369,854

Up $1,455,394 (+2.4%) from 2017

Liabilities

Up

$5,114,410

Up $47,041 (+0.9%) from 2017

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin48th percentile

Revenue

Up

$32,263,022

Up $433,966 (+1.4%) from 2017

Expenses

Up

$30,310,927

Up $177,912 (+0.6%) from 2017

Net Income

Up

$1,952,095

Up $256,054 (+15%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

$200M$150M$100M$50M$0Assets 2010: $40,579,729Liabilities 2010: $6,550,689Net Assets 2010: $34,029,0402010Assets 2011: $42,774,037Liabilities 2011: $5,857,550Net Assets 2011: $36,916,4872011Assets 2012: $46,923,771Liabilities 2012: $5,228,072Net Assets 2012: $41,695,6992012Assets 2013: $50,820,343Liabilities 2013: $5,315,233Net Assets 2013: $45,505,1102013Assets 2014: $55,147,761Liabilities 2014: $5,488,988Net Assets 2014: $49,658,7732014Assets 2015: $58,718,975Liabilities 2015: $4,953,432Net Assets 2015: $53,765,5432015Assets 2016: $62,021,689Liabilities 2016: $4,945,376Net Assets 2016: $57,076,3132016Assets 2017: $64,981,829Liabilities 2017: $5,067,369Net Assets 2017: $59,914,4602017Assets 2018: $66,484,264Liabilities 2018: $5,114,410Net Assets 2018: $61,369,8542018Assets 2019: $80,896,989Liabilities 2019: $4,772,131Net Assets 2019: $76,124,8582019Assets 2020: $97,777,796Liabilities 2020: $4,889,171Net Assets 2020: $92,888,6252020Assets 2021: $113,632,369Liabilities 2021: $5,559,484Net Assets 2021: $108,072,8852021Assets 2022: $116,226,888Liabilities 2022: $5,568,733Net Assets 2022: $110,658,1552022Assets 2023: $133,326,281Liabilities 2023: $4,872,904Net Assets 2023: $128,453,3772023Assets 2024: $156,828,774Liabilities 2024: $4,153,999Net Assets 2024: $152,674,7752024

Highlighted filing

2018

Assets$66,484,264
Liabilities$5,114,410
Net Assets$61,369,854
Open 2018 Filing

Operations Trend

Revenue Growth35th percentile

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

$60M$40M$20M$0Expenses 2010: $25,257,6492010Expenses 2011: $27,953,9422011Expenses 2012: $25,597,6152012Revenue 2013: $30,608,522Expenses 2013: $26,206,836Net Income 2013: $4,401,6862013Revenue 2014: $30,796,544Expenses 2014: $26,898,471Net Income 2014: $3,898,0732014Revenue 2015: $31,021,721Expenses 2015: $26,893,991Net Income 2015: $4,127,7302015Revenue 2016: $31,495,323Expenses 2016: $28,602,292Net Income 2016: $2,893,0312016Revenue 2017: $31,829,056Expenses 2017: $30,133,015Net Income 2017: $1,696,0412017Revenue 2018: $32,263,022Expenses 2018: $30,310,927Net Income 2018: $1,952,0952018Revenue 2019: $42,470,272Expenses 2019: $30,509,211Net Income 2019: $11,961,0612019Revenue 2020: $43,337,498Expenses 2020: $29,200,496Net Income 2020: $14,137,0022020Revenue 2021: $46,106,899Expenses 2021: $32,702,210Net Income 2021: $13,404,6892021Revenue 2022: $50,830,349Expenses 2022: $37,391,371Net Income 2022: $13,438,9782022Revenue 2023: $52,482,151Expenses 2023: $40,352,250Net Income 2023: $12,129,9012023Revenue 2024: $55,314,894Expenses 2024: $32,635,729Net Income 2024: $22,679,1652024

Highlighted filing

2018

Revenue$32,263,022
Expenses$30,310,927
Net Income$1,952,095
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 12, 2019
Return Version
2018v3.1
Gross Receipts
$64,162,404
Mission and Program Overview

Mission

Welfare benefits to participants

To provide health benefits for retired employees who meet the eligibility rules in effect when they retire and/or qualified members of their family.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$59,914,460$61,369,854▲ $1,455,394
Investments in Publicly Traded Securities$60,584,324$60,417,657▼ $166,667
Savings and Temporary Cash Investments$2,921,636$4,893,082▲ $1,971,446
Accounts Receivable$1,463,986$1,161,245▼ $302,741
Prepaid Expenses and Deferred Charges$11,883$12,280▲ $397
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$64,981,829$66,484,264▲ $1,502,435
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$2,197,369$2,614,410▲ $417,041
Other Liabilities$2,870,000$2,500,000▼ $370,000
Total Liabilities$5,067,369$5,114,410▲ $47,041
Net Assets / Fund Balance
Total Net Assets Fund Balance$59,914,460$61,369,854▲ $1,455,394
Total Liabilities and Net Assets / Fund Balance$64,981,829$66,484,264▲ $1,502,435
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Joe TessierChairman
Doug RuygrokTrustee
Steve ManuszakTrustee
Steven C ChandlerTrustee
Ted BunstineTrustee
Brian PersonSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Northwest Administrators Inc-2323 Eastlake Avenue E, Seattle, WA 98102-3393$2,849,511
CIGNA PPO Network-One CVS Drive, Woonsocket, RI 02895$284,892
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$31,158,607
Investment Income
$1,104,415
Other Revenue
$0
Change in Net Assets
$1,952,095

Audited Revenue Reconciliation

Revenue per Audited Statements
$32,113,369
Revenue Not Reported on Financial Statements
$149,653
Revenue Not Reported on Form 990
$-496,701
Total Revenue per Audited Statements
$31,616,668
Total Revenue per Form 990
$32,263,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,307,365
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---$27,003,562
Fees for Services Management---$2,685,123
Fees for Services Other---$354,935
Fees for Service Investment Mgmnt Fees---$149,653
Fees for Services Accounting---$62,724
Insurance---$14,446
Fees for Services Legal---$9,470
Conferences and Meetings---$2,976
Travel---$2,313
Other Expenses---$1,050
Total Functional Expenses$0$0$0$30,310,927

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$30,540,313
Total Expenses per Audited Statements$30,540,313
Total Expenses per Form 990$30,310,927
Expenses Not Reported on Financial Statements$-229,386
Other Expense Adjustments$-379,039
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Claims Incurred but Not Reported$2,500,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“The board of trustees has selected a professional third party administrator to run the day to day operations of the trust. The board of trustees retains ultimate responsibility for the actions of the third party administrator.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Management monitors policy for conflicts of interest by reviewing annually.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Examine without charge at the Plan Administrators Office and at union halls of all Plan documents including insurance contracts, collective bargaining agreements, and copies of all documents filed with the U.S. Department of Labor, such as annual reports and Plan description. Obtain copies of all Plan documents and other Plan information upon a written request to the Plan Administrator. The Administrator may make a reasonable charge for the copies. Receive a summary of the Plans annual financial report. The Plan Administrator is required by law to furnish each participant with a copy of this summary financial report.”

Filing and Contact Details

Filer

Filer Name
Retirees Welfare Trust
EIN
91-6065367
Phone
2063294900
Address
2323 EASTLAKE AVE EAST, SEATTLE, WA 98102

Signing Officer

Name
Joe Tessier
Title
Chairman
Signed
2019-11-12
Discuss with paid preparer
Yes

Organization Details

Formed
1964
Legal Domicile
Wa
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Anastasi Moore & Martin Pllc
Address
9 South Washington St STE 600, Spokane, WA 99201-3709
Preparer
Paul J Anastasi CPA
Phone
5093230272
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The trust established under the Plan to hold the Plans assets is qualified pursuant to the appropriate section of the Internal Revenue Code (IRC) and, accordingly, the trusts net investment income is exempt from income taxes. The Plan has obtained a favorable determination letter from the IRS, but has since been amended. However, the Plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC. Therefore, they believe that the Plan is qualified and the related trust is tax-exempt as of the financial statement date. Accordingly, no provision for income taxes has been included in the Plans financial statements.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 plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2018, there are no uncertain positions taken or expected to be taken that would require recognition of the liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions and the Plan could be subject to income tax if certain issues were found by the IRS that could result in the disqualification of the Plans tax-exempt status; however, there are currently no audits for any tax periods in progress.”

Raw XML AppendixShowing 400 of 409 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The trust established under the Plan to hold the Plans assets is qualified pursuant to the appropriate section of the Internal Revenue Code (IRC) and, accordingly, the trusts net investment income is exempt from income taxes. The Plan has obtained a favorable determination letter from the IRS, but has since been amended. However, the Plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC. Therefore, they believe that the Plan is qualified and the related trust is tax-exempt as of the financial statement date. Accordingly, no provision for income taxes has been included in the Plans financial statements.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 plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2018, there are no uncertain positions taken or expected to be taken that would require recognition of the liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions and the Plan could be subject to income tax if certain issues were found by the IRS that could result in the disqualification of the Plans tax-exempt status; however, there are currently no audits for any tax periods in progress.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalLiabilityAmt02500000
IRS990ScheduleD/TotalRevenuePerForm990Amt032263022
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt031616668
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board of trustees has selected a professional third party administrator to run the day to day operations of the trust. The board of trustees retains ultimate responsibility for the actions of the third party administrator.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Management monitors policy for conflicts of interest by reviewing annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Examine without charge at the Plan Administrators Office and at union halls of all Plan documents including insurance contracts, collective bargaining agreements, and copies of all documents filed with the U.S. Department of Labor, such as annual reports and Plan description. Obtain copies of all Plan documents and other Plan information upon a written request to the Plan Administrator. The Administrator may make a reasonable charge for the copies. Receive a summary of the Plans annual financial report. The Plan Administrator is required by law to furnish each participant with a copy of this summary financial report.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0See attached
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Seattle
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Joe Tessier
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RETIREES WELFARE TRUST
ReturnHeader/Filer/BusinessNameControlTxt0RETI
ReturnHeader/Filer/EIN0916065367
ReturnHeader/Filer/PhoneNum02063294900
ReturnHeader/Filer/USAddress/AddressLine1Txt02323 EASTLAKE AVE EAST
ReturnHeader/Filer/USAddress/CityNm0SEATTLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098102
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0208149084
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ANASTASI MOORE & MARTIN PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09 South Washington St STE 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Spokane

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$66,484,264
Liabilities
$5,114,410
Net assets
$61,369,854
Revenue
$32,263,022
Expenses
$30,310,927
Net income
$1,952,095
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$157$4.15$153$55.3$32.6$22.7
2023Detailed filing. Detailed filing data is available for this year.$133$4.87$128$52.5$40.4$12.1
2022Detailed filing. Detailed filing data is available for this year.$116$5.57$111$50.8$37.4$13.4
2021Detailed filing. Detailed filing data is available for this year.$114$5.56$108$46.1$32.7$13.4
2020Detailed filing. Detailed filing data is available for this year.$97.8$4.89$92.9$43.3$29.2$14.1
2019Detailed filing. Detailed filing data is available for this year.$80.9$4.77$76.1$42.5$30.5$12.0
2018Detailed filing. Detailed filing data is available for this year.$66.5$5.11$61.4$32.3$30.3$1.95
2017Detailed filing. Detailed filing data is available for this year.$65.0$5.07$59.9$31.8$30.1$1.70
2016Detailed filing. Detailed filing data is available for this year.$62.0$4.95$57.1$31.5$28.6$2.89
2015Detailed filing. Detailed filing data is available for this year.$58.7$4.95$53.8$31.0$26.9$4.13
2014Detailed filing. Detailed filing data is available for this year.$55.1$5.49$49.7$30.8$26.9$3.90
2013Detailed filing. Detailed filing data is available for this year.$50.8$5.32$45.5$30.6$26.2$4.40
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.9$5.23$41.7$25.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.8$5.86$36.9$28.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.6$6.55$34.0$25.3