Civic Intelligence

Operating Engineers Union 3 Pensioned Health & Welfare Fund

990 • Fiscal year 2014 • EIN 94-6096327

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 27, 2015

1640 S Loop RdSuiteAlameda, CA 94502

(510) 337-3050

Siviq Scores

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

Liabilities / Assets

64th percentile

0.12x

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

2014 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

70th percentile

0.18x

Higher debt load relative to revenue than 70% of similar nonprofits.

2014 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2014

Net Margin

46th percentile

1.4%

Higher net margin than 46% of similar nonprofits.

2014 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

64th percentile

$168,975

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2014 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2014

Asset Growth

48th percentile

3.9%

Faster asset growth than 48% of similar nonprofits.

2014 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Revenue Growth

68th percentile

8.3%

Faster revenue growth than 68% of similar nonprofits.

2014 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Assets

Up

$156,639,436

Up $5,809,373 (+3.9%) from 2013

Net Assets

Down

$137,510,111

Down $494,458 (-0.4%) from 2013

Liabilities

Up

$19,129,325

Up $6,303,831 (+49%) from 2013

Revenue

Up

$108,746,234

Up $8,353,113 (+8.3%) from 2013

Expenses

Up

$107,185,065

Up $13,811,331 (+15%) from 2013

Net Income

Down

$1,561,169

Down $5,458,218 (-78%) from 2013

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $126,170,680Liabilities 2010: $8,786,679Net Assets 2010: $117,384,0012010Assets 2011: $140,443,937Liabilities 2011: $14,511,611Net Assets 2011: $125,932,3262011Assets 2012: $145,204,024Liabilities 2012: $15,140,748Net Assets 2012: $130,063,2762012Assets 2013: $150,830,063Liabilities 2013: $12,825,494Net Assets 2013: $138,004,5692013Assets 2014: $156,639,436Liabilities 2014: $19,129,325Net Assets 2014: $137,510,1112014Assets 2015: $146,880,283Liabilities 2015: $8,659,076Net Assets 2015: $138,221,2072015Assets 2016: $154,843,581Liabilities 2016: $15,057,130Net Assets 2016: $139,786,4512016Assets 2017: $170,562,988Liabilities 2017: $12,612,171Net Assets 2017: $157,950,8172017Assets 2018: $185,660,473Liabilities 2018: $13,379,906Net Assets 2018: $172,280,5672018Assets 2019: $217,186,601Liabilities 2019: $15,185,000Net Assets 2019: $202,001,6012019Assets 2020: $248,305,262Liabilities 2020: $21,636,689Net Assets 2020: $226,668,5732020Assets 2021: $267,164,659Liabilities 2021: $14,726,920Net Assets 2021: $252,437,7392021Assets 2022: $267,935,818Liabilities 2022: $15,288,454Net Assets 2022: $252,647,3642022Assets 2023: $283,590,262Liabilities 2023: $11,674,974Net Assets 2023: $271,915,2882023Assets 2024: $295,309,473Liabilities 2024: $14,589,515Net Assets 2024: $280,719,9582024

Highlighted filing

2014

Assets$156,639,436
Liabilities$19,129,325
Net Assets$137,510,111

Operations Trend

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

$150M$100M$50M$0-$50MRevenue 2010: $91,031,885Expenses 2010: $83,585,023Net Income 2010: $7,446,8622010Revenue 2011: $97,838,243Expenses 2011: $91,000,211Net Income 2011: $6,838,0322011Revenue 2012: $95,984,709Expenses 2012: $93,650,883Net Income 2012: $2,333,8262012Revenue 2013: $100,393,121Expenses 2013: $93,373,734Net Income 2013: $7,019,3872013Revenue 2014: $108,746,234Expenses 2014: $107,185,065Net Income 2014: $1,561,1692014Revenue 2015: $115,534,398Expenses 2015: $111,204,226Net Income 2015: $4,330,1722015Revenue 2016: $119,104,128Expenses 2016: $120,764,414Net Income 2016: -$1,660,2862016Revenue 2017: $131,877,383Expenses 2017: $117,335,011Net Income 2017: $14,542,3722017Revenue 2018: $135,455,688Expenses 2018: $115,912,352Net Income 2018: $19,543,3362018Revenue 2019: $149,156,510Expenses 2019: $122,861,221Net Income 2019: $26,295,2892019Revenue 2020: $135,314,965Expenses 2020: $119,913,906Net Income 2020: $15,401,0592020Revenue 2021: $118,212,622Expenses 2021: $96,264,351Net Income 2021: $21,948,2712021Revenue 2022: $119,278,066Expenses 2022: $103,050,897Net Income 2022: $16,227,1692022Revenue 2023: $125,705,324Expenses 2023: $114,139,978Net Income 2023: $11,565,3462023Revenue 2024: $125,268,149Expenses 2024: $123,459,429Net Income 2024: $1,808,7202024

Highlighted filing

2014

Revenue$108,746,234
Expenses$107,185,065
Net Income$1,561,169
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 27, 2015
Return Version
2014v5.0
Gross Receipts
$262,246,328
Mission and Program Overview

Mission

To provide healthcare benefits during retirement to eligible operating engineers covered by collective bargaining agreements.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$138,004,569$137,510,111▼ $494,458
Investments in Publicly Traded Securities$118,049,586$116,625,336▼ $1,424,250
Investments Other Securities$14,789,465$15,262,963▲ $473,498
Accounts Receivable$8,505,093$11,409,284▲ $2,904,191
Savings and Temporary Cash Investments$5,514,852$3,700,511▼ $1,814,341
Cash and Non-Interest-Bearing Accounts$1,060,111$2,287,905▲ $1,227,794
Prepaid Expenses and Deferred Charges$8,992$8,992→ $0
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 Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$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$150,830,063$156,639,436▲ $5,809,373
Other Assets Total$2,901,964$7,344,445▲ $4,442,481
Liabilities
Other Liabilities$10,770,358$17,103,301▲ $6,332,943
Accounts Payable and Accrued Expenses$1,791,932$1,764,575▼ $27,357
Deferred Revenue$263,204$261,449▼ $1,755
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$12,825,494$19,129,325▲ $6,303,831
Net Assets / Fund Balance
Total Net Assets Fund Balance$138,004,569$137,510,111▼ $494,458
Total Liabilities and Net Assets / Fund Balance$150,830,063$156,639,436▲ $5,809,373

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$15,262,963--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Richard PiomboTrustee/co-chairman
Russell E BurnsTrustee/co-chairman
Richard VeraExecutive Director
Bruce NoelTrustee
Dan RedingTrustee
Fg CrosthwaiteTrustee
James E MurrayTrustee
James SullivanTrustee
Justin DistonTrustee
Kevin J AlbaneseTrustee
Lance InouyeTrustee
Mike CrollTrustee
Nate TuckerTrustee
Pane MeatogaTrustee
Pete FigueiredoTrustee
Robert DoudTrustee
Steve HarrisTrustee
Steve IngersollTrustee
Thomas HolsmanTrustee
piero ruggeriTrustee
tom squeriTrustee
Carl GoffTrustee (p)
Jeffrey ClydeTrustee (p)
John M HumberTrustee (p)
Rene VercruyssenTrustee (p)

Highest Paid Contractors

ContractorServicesLocationCompensation
Associated Third Party AdministratoContract Admin.1640 S LOOP RD, Alameda, CA 94502$2,610,574
Anthem Blue CrossClaims AdministratorPO Box 629, Woodland Hills, CA 91365$1,296,137
Segal ConsultingConsultant100 MONTGOMERY ST STE 500, San Francisco, CA 94104$158,093
Mcmorgan Co LLCInvestment ManagerONE FRONT ST STE 500, San Francisco, CA 94111$141,612
Chartwell Investment MgrInvestment Manager1235 WESTLAKES DR STE 400, Berwyn, PA 19312-2412$134,515
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$89,851,917
Investment Income
$7,914,887
Other Revenue
$10,979,430
Change in Net Assets
$1,561,169

Audited Revenue Reconciliation

Revenue per Audited Statements
$108,746,234
Revenue Not Reported on Form 990
$-2,055,627
Total Revenue per Audited Statements
$106,690,607
Total Revenue per Form 990
$108,746,234
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,354,465
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---$100,830,600
Fees for Services Management---$2,610,574
Fees for Service Investment Mgmnt Fees---$332,486
Office Expenses---$226,190
Fees for Services Other---$202,093
Fees for Services Accounting---$53,332
Fees for Services Legal---$42,042
Insurance---$35,623
Other Expenses---$29,438
Conferences and Meetings---$25,020
All Other Expenses---$4,055
Total Functional Expenses$0$0$0$107,185,065

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$107,185,065
Expenses per Audited Statements$105,299,143
Total Expenses per Audited Statements$105,299,143
Expenses Not Reported on Financial Statements$1,885,922
Other Expense Adjustments$1,885,922
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
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
PLAN'S BENEFIT OBLIGATIONS$9,776,238
Collateral for Securities on Loan$7,327,063
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

PART VI, SECTION A - LINE 1A:

THE LABOR TRUSTEES AND THE MANAGEMENT TRUSTEES ARE THE TWO SEGMENTS OF THE GOVERNING BODY. EACH MEMBER OF THE GOVERNING BODY HAS THE POWER TO VOTE ON ALL MATTERS, HOWEVER, THE VOTES WITHIN EACH SEGMENT ARE ACCUMULATED AND A UNIT VOTE IS DETERMINED BASED ON THE MAJORITY OF VOTES WITHIN EACH SEGMENT. PART VI, SECTION A - LINE 8B: THE PLAN DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. PART VI, SECTION B - LINE 11B: THE PLAN'S 990 IS AVAILABLE ON THE TRUSTEE WEBSITE FOR REVIEW PRIOR TO FILING. PART VI, SECTION B - LINE 12C: THE QUARTERLY BOARD MEETING PROVIDES AN OFFICIAL VENUE FOR OFFICERS, DIRECTORS, AND TRUSTEES TO DISCLOSE SUCH INTERESTS THAT COULD GIVE RISE TO CONFLICT. PARTY VI, SECTION C - LINE 19: THE PLAN MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO PARTICIPANTS UPON REQUEST. ON AN ANNUAL BASIS, A FORM 5500 ANNUAL RETURN/REPORT OF EMPLOYEE BENEFIT PLAN IS FILED WITH THE DEPARTMENT OF LABOR. THIS REPORT IS AVAILABLE ON THEIR WEBSITE. PART VII, SECTION A - LINE 1A: TRUSTEES ARE NOT COMPENSATED BY THE PLAN. COMPENSATION PAID TO TRUSTEES EMPLOYED BY OTHER RELATED ORGANIZATIONS IS REPORTED ON THE FORM 990 FILED WITH THE IRS BY THE RELATED TAX-EXEMPT ORGANIZATION. FOR ADDITIONAL INFORMATION, CONTACT THE THIRD-PARTY ADMINISTRATOR, ASSOCIATED THIRD PARTY ADMINISTRATORS. BELOW IS THE RELATED ORGANIZATION THAT PAID COMPENSATION TO THE TRUSTEES: INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL UNION NO. 3; EIN 94-0577785. PART VII, SECTION A: Richard Vera receives compensation from the Operating Engineers Trust Funds Multi-Plan Services Account (the "MPSA"), a related party, which acts as a joint venture cost sharing arrangement providing a vehicle for handling of mutual concerns, interests, problems and information services to the members of the various Operating Engineers Trust Funds. Richard Vera acts as the Executive Director of MPSA and all the Operating Engineers Trust Funds which are under its umbrella.

Filing and Contact Details

Filer

Filer Name
Operating Engineers Union 3 Pensioned
EIN
94-6096327
In Care Of
% ASSOCIATED THIRD PARTY ADMIN
Phone
5103373050
Address
1640 S LOOP RD, Suite, ALAMEDA, CA 94502

Signing Officer

Name
russell burns
Title
co-chairman
Phone
5103373050
Signed
2015-08-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
russell burns
Formed
1962
Legal Domicile
CA
Voting Board Members
20
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Miller Kaplan Arase Llp
Address
44 MONTGOMERY ST STE 3701, SAN FRANCISCO, CA 94104-4831
Preparer
Miller Kaplan Arase Llp
Phone
4159563600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

THE PLAN HAS ADOPTED GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD. THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN HAS NOT TAKEN UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. Information return for years subsequent to December 31, 2011 were subject to examination by authorities. PART XII, LINE 4B: CHANGE IN BENEFIT OBLIGATIONS.

Raw XML AppendixShowing 400 of 619 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/OtherExpensesGrp/Desc2MEDICAL REVIEW FEES

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.$295$14.6$281$125$123$1.81
2023Detailed filing. Detailed filing data is available for this year.$284$11.7$272$126$114$11.6
2022Detailed filing. Detailed filing data is available for this year.$268$15.3$253$119$103$16.2
2021Detailed filing. Detailed filing data is available for this year.$267$14.7$252$118$96.3$21.9
2020Detailed filing. Detailed filing data is available for this year.$248$21.6$227$135$120$15.4
2019Detailed filing. Detailed filing data is available for this year.$217$15.2$202$149$123$26.3
2018Detailed filing. Detailed filing data is available for this year.$186$13.4$172$135$116$19.5
2017Detailed filing. Detailed filing data is available for this year.$171$12.6$158$132$117$14.5
2016Detailed filing. Detailed filing data is available for this year.$155$15.1$140$119$121$1.66
2015Detailed filing. Detailed filing data is available for this year.$147$8.66$138$116$111$4.33
2014Detailed filing. Detailed filing data is available for this year.$157$19.1$138$109$107$1.56
2013Summary only. Only limited summary data is available for this year.$151$12.8$138$100$93.4$7.02
2012Summary only. Only limited summary data is available for this year.$145$15.1$130$96.0$93.7$2.33
2011Summary only. Only limited summary data is available for this year.$140$14.5$126$97.8$91.0$6.84
2010Summary only. Only limited summary data is available for this year.$126$8.79$117$91.0$83.6$7.45