Civic Intelligence

Voluntary Benefits Plan for Uaw Retired Employees of Allis-Chalmers Corporation

990 • Fiscal year 2020 • EIN 94-3101366

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 26, 2021

26301 Curtiss-wright Parkway 105Richmond Hts, OH 44143

(216) 261-8414

Siviq Scores

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

Liabilities / Assets

24th percentile

0.00x

Higher debt load relative to assets than 24% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

33rd percentile

0.01x

Higher debt load relative to revenue than 33% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2020

Net Margin

23rd percentile

-3.4%

Higher net margin than 23% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

60th percentile

$71,206

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2020

Asset Growth

12th percentile

-6.4%

Faster asset growth than 12% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

98th percentile

165%

Faster revenue growth than 98% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Assets

Down

$41,053,727

Down $2,810,009 (-6.4%) from 2019

Net Assets

Down

$41,014,044

Down $2,800,920 (-6.4%) from 2019

Liabilities

Down

$39,683

Down $9,089 (-19%) from 2019

Revenue

Up

$3,994,574

Up $2,489,973 (+165%) from 2019

Expenses

Down

$4,131,031

Down $432,394 (-9.5%) from 2019

Net Income

Up

-$136,457

Up $2,922,367 (+96%) from 2019

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $58,159,356Liabilities 2010: $269,253Net Assets 2010: $57,890,1032010Assets 2011: $54,384,332Liabilities 2011: $229,887Net Assets 2011: $54,154,4452011Assets 2012: $55,058,084Liabilities 2012: $253,674Net Assets 2012: $54,804,4102012Assets 2013: $59,887,702Liabilities 2013: $130,883Net Assets 2013: $59,756,8192013Assets 2014: $57,368,802Liabilities 2014: $351,398Net Assets 2014: $57,017,4042014Assets 2015: $50,309,476Liabilities 2015: $112,151Net Assets 2015: $50,197,3252015Assets 2016: $46,633,711Liabilities 2016: $113,447Net Assets 2016: $46,520,2642016Assets 2017: $47,169,796Liabilities 2017: $81,783Net Assets 2017: $47,088,0132017Assets 2018: $43,906,001Liabilities 2018: $41,888Net Assets 2018: $43,864,1132018Assets 2019: $43,863,736Liabilities 2019: $48,772Net Assets 2019: $43,814,9642019Assets 2020: $41,053,727Liabilities 2020: $39,683Net Assets 2020: $41,014,0442020Assets 2021: $37,899,688Liabilities 2021: $43,780Net Assets 2021: $37,855,9082021Assets 2022: $32,662,462Liabilities 2022: $19,885Net Assets 2022: $32,642,5772022Assets 2023: $32,102,751Liabilities 2023: $11,376Net Assets 2023: $32,091,3752023Assets 2024: $30,921,718Liabilities 2024: $4,132Net Assets 2024: $30,917,5862024

Highlighted filing

2020

Assets$41,053,727
Liabilities$39,683
Net Assets$41,014,044

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $6,829,2772010Expenses 2011: $6,433,1172011Expenses 2012: $6,397,8052012Revenue 2013: $7,185,898Expenses 2013: $5,749,865Net Income 2013: $1,436,0332013Revenue 2014: $4,921,569Expenses 2014: $6,461,881Net Income 2014: -$1,540,3122014Revenue 2015: $4,313,604Expenses 2015: $7,045,926Net Income 2015: -$2,732,3222015Revenue 2016: $1,628,238Expenses 2016: $6,440,713Net Income 2016: -$4,812,4752016Revenue 2017: $2,992,277Expenses 2017: $5,914,155Net Income 2017: -$2,921,8782017Revenue 2018: $10,207,195Expenses 2018: $5,236,129Net Income 2018: $4,971,0662018Revenue 2019: $1,504,601Expenses 2019: $4,563,425Net Income 2019: -$3,058,8242019Revenue 2020: $3,994,574Expenses 2020: $4,131,031Net Income 2020: -$136,4572020Revenue 2021: $1,212,266Expenses 2021: $4,226,794Net Income 2021: -$3,014,5282021Revenue 2022: $815,296Expenses 2022: $3,561,623Net Income 2022: -$2,746,3272022Revenue 2023: $1,334,699Expenses 2023: $2,412,499Net Income 2023: -$1,077,8002023Revenue 2024: -$739,913Expenses 2024: $2,320,041Net Income 2024: -$3,059,9542024

Highlighted filing

2020

Revenue$3,994,574
Expenses$4,131,031
Net Income-$136,457
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 26, 2021
Return Version
2020v4.1
Gross Receipts
$48,915,631
Mission and Program Overview

Mission

To provide heath and death benefits to retirees of allis-chalmers corporation.

To provide health and death benefits to retirees of allis-chalmers corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$43,814,964$41,014,044▼ $2,800,920
Investments in Publicly Traded Securities$40,041,153$22,827,644▼ $17,213,509
Savings and Temporary Cash Investments$3,182,691$17,725,612▲ $14,542,921
Prepaid Expenses and Deferred Charges$300,953$251,013▼ $49,940
Cash and Non-Interest-Bearing Accounts$273,326$212,139▼ $61,187
Accounts Receivable$65,613$37,319▼ $28,294
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$43,863,736$41,053,727▼ $2,810,009
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$34,429$30,543▼ $3,886
Deferred Revenue$14,343$9,140▼ $5,203
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$48,772$39,683▼ $9,089
Net Assets / Fund Balance
Total Net Assets Fund Balance$43,814,964$41,014,044▼ $2,800,920
Total Liabilities and Net Assets / Fund Balance$43,863,736$41,053,727▼ $2,810,009
Compensation and Service Providers

Employees

NameTitleBaseTotal
Wells Fargo BankTrustee$71,206$71,206
Richard L LichtensteinBenefits Committee Chair$28,420$28,420
Gerald L HalliburtonBenefits Committee Member$11,110$11,110
Jeff KosankeBenefits Committee Member$11,110$11,110

Board Members and Trustees

NameTitle
Renee Turner BaileyBenefits Committee Member
Ted SzczepaniakBenefits Committee Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Benefits Administrative Services CoBenefits Admin.2189 PARKWAY LAKE DR, Birmingham, AL 35204$294,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$108,287
Investment Income
$3,763,492
Other Revenue
$122,795
Change in Net Assets
$-136,457

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,961,813
Revenue Not Reported on Financial Statements
$32,761
Revenue Not Reported on Form 990
$-2,664,463
Other Revenue Adjustments
$32,761
Total Revenue per Audited Statements
$1,297,350
Total Revenue per Form 990
$3,994,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$611,602
Salaries, Compensation, and Employee Benefits$117,558
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$3,401,871
Fees for Services Other---$536,362
Current Officers, Directors, Trustees, and Key Employees---$117,558
Fees for Services Accounting---$40,500
Insurance---$21,722
Fees for Services Legal---$11,513
Fees for Service Investment Mgmnt Fees---$1,505
Total Functional Expenses$0$0$0$4,131,031

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,131,031
Expenses per Audited Statements$4,098,270
Total Expenses per Audited Statements$4,098,270
Expenses Not Reported on Financial Statements$32,761
Other Expense Adjustments$32,761
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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

PART VI, SECTION A, LINE 8B:

The organization does not have separate committees.

PART VI, SECTION B, LINE 11:

A copy of the return is provided to the chair of the benefits committee for review prior to filing.

PART VI, SECTION C, LINE 19:

The organization makes its governing documents and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Voluntary Benefits Plan for Uaw Retired
EIN
94-3101366
In Care Of
% JANIS L BAIR
Phone
2162618414
Address
26301 CURTISS-WRIGHT PARKWAY 105, RICHMOND HTS, OH 44143

Signing Officer

Name
Richard L Lichtenstein
Title
Officer
Phone
2162618414
Signed
2021-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard L Lichtenstein
Formed
1988
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Bdo USA Llp
Address
1300 EAST NINTH STREET SUITE 1301, CLEVELAND, OH 44114
Preparer
Jacob Cook
Phone
2163251700
Supplemental Narrative

Additional Explanations

FORM 990, BOX F, ADDRESS OF PRINCIPAL OFFICER:

26301 curtiss-wright parkway #105 richmond heights, oh 44143

Form 990 Part IX Line 11G

Description:cds administrators total fees:52148

Form 990 Part IX Line 11G

Description:benefits admi services company total fees:345468

Form 990 Part IX Line 11G

Description:milliman usa total fees:68873

Form 990 Part IX Line 11G

Description:citigroup - morgan stanley total fees:12500

Form 990 Part IX Line 11G

Description:jp morgan chase total fees:31950

Form 990 Part IX Line 11G

Description:pnc fin services total fees:9687

Form 990 Part IX Line 11G

Description:vsp total fees:6410

Form 990 Part IX Line 11G

Description:delta dental total fees:9326

Financial Statement Notes

PART X, LINE 2:

The trust funding the plan has received an exemption letter from the internal revenue service (irs) dated december 2, 1988, stating that the trust is tax-exempt under the provisions of section 501(c)(9) of the internal revenue code (irc) as a voluntary employee beneficiary association. Once qualified, the plan is required to operate in conformity with the irc to maintain its qualification. The plan sponsor is responsible for reviewing the annual required amendments list (ral) issued by the irs for individually-designed plans to retain qualified tax status. The plan administrator believes the plan is designed and operated in compliance with the applicable requirements of the irc and therefore, believes the plan, as amended, is qualified, and the related trust is tax exempt. Therefore, no provision for income taxes has been included in the plan's financial statements. Gaap requires 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 is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax examinations for years prior to 2010.

PART XI, LINE 4B:

Expenses netted with revenue $32,761

PART XII, LINE 4B:

Expenses netted with revenue $32,761

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE TRUST FUNDING THE PLAN HAS RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) DATED DECEMBER 2, 1988, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC) AS A VOLUNTARY EMPLOYEE BENEFICIARY ASSOCIATION. ONCE QUALIFIED, THE PLAN IS REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN ITS QUALIFICATION. THE PLAN SPONSOR IS RESPONSIBLE FOR REVIEWING THE ANNUAL REQUIRED AMENDMENTS LIST (RAL) ISSUED BY THE IRS FOR INDIVIDUALLY-DESIGNED PLANS TO RETAIN QUALIFIED TAX STATUS. THE PLAN ADMINISTRATOR BELIEVES THE PLAN IS DESIGNED AND OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND THEREFORE, BELIEVES THE PLAN, AS AMENDED, IS QUALIFIED, AND THE RELATED TRUST IS TAX EXEMPT. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE PLAN'S FINANCIAL STATEMENTS. GAAP REQUIRES 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 IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE PLAN ADMINISTRATOR BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2010.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1EXPENSES NETTED WITH REVENUE $32,761
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXPENSES NETTED WITH REVENUE $32,761
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt026301 CURTISS-WRIGHT PARKWAY #105 RICHMOND HEIGHTS, OH 44143
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE SEPARATE COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE RETURN IS PROVIDED TO THE CHAIR OF THE BENEFITS COMMITTEE FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DESCRIPTION:CDS ADMINISTRATORS TOTAL FEES:52148
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DESCRIPTION:BENEFITS ADMI SERVICES COMPANY TOTAL FEES:345468
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DESCRIPTION:MILLIMAN USA TOTAL FEES:68873
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DESCRIPTION:CITIGROUP - MORGAN STANLEY TOTAL FEES:12500
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8DESCRIPTION:JP MORGAN CHASE TOTAL FEES:31950
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9DESCRIPTION:PNC FIN SERVICES TOTAL FEES:9687
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10DESCRIPTION:VSP TOTAL FEES:6410
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11DESCRIPTION:DELTA DENTAL TOTAL FEES:9326
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, BOX F, ADDRESS OF PRINCIPAL OFFICER:
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, SECTION B, LINE 11:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION C, LINE 19:
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IRS990/USAddress/CityNm0RICHMOND HTS
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IRS990/USAddress/ZIPCd044143
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Richard L Lichtenstein
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum02162618414
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VOLUNTARY BENEFITS PLAN FOR UAW RETIRED
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EMPLOYEES OF ALLIS-CHALMERS CORPORATION

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.9$0.00$30.9$0.74$2.32$3.06
2023Detailed filing. Detailed filing data is available for this year.$32.1$0.01$32.1$1.33$2.41$1.08
2022Detailed filing. Detailed filing data is available for this year.$32.7$0.02$32.6$0.82$3.56$2.75
2021Detailed filing. Detailed filing data is available for this year.$37.9$0.04$37.9$1.21$4.23$3.01
2020Detailed filing. Detailed filing data is available for this year.$41.1$0.04$41.0$3.99$4.13$0.14
2019Detailed filing. Detailed filing data is available for this year.$43.9$0.05$43.8$1.50$4.56$3.06
2018Detailed filing. Detailed filing data is available for this year.$43.9$0.04$43.9$10.2$5.24$4.97
2017Detailed filing. Detailed filing data is available for this year.$47.2$0.08$47.1$2.99$5.91$2.92
2016Detailed filing. Detailed filing data is available for this year.$46.6$0.11$46.5$1.63$6.44$4.81
2015Detailed filing. Detailed filing data is available for this year.$50.3$0.11$50.2$4.31$7.05$2.73
2014Detailed filing. Detailed filing data is available for this year.$57.4$0.35$57.0$4.92$6.46$1.54
2013Detailed filing. Detailed filing data is available for this year.$59.9$0.13$59.8$7.19$5.75$1.44
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.1$0.25$54.8$6.40
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.4$0.23$54.2$6.43
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.2$0.27$57.9$6.83