Indiana Laborers Welfare Fund, Hod Carriers Welfare Fund in Terre Haute, Indiana (IN)

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Indiana Laborers Welfare Fund, Hod Carriers Welfare Fund
Employer Identification Number (EIN)350923209
Name of OrganizationIndiana Laborers Welfare Fund
Secondary NameHod Carriers Welfare Fund
AddressPO BOX 1587, Terre Haute, IN 47808-1587
ActivitiesSick, accident, death, or similar benefits
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date05/1957
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period11/2009
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$163,118,852
Amount of Income$199,201,437
Form 990 Revenue Amount$72,356,027
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Voluntary Employees Beneficiary Associations (Non-Government)



Amount of income in 2009: $199,201,437
This organization:  $199,201,437
Other organizations performing similar types of work:  $15,312,488

Assets in 2009: $163,118,852
This organization:  $163,118,852
Other organizations performing similar types of work:  $11,778,407

Expenses in 2006: $56,369,891
Indiana Laborers Welfare Fund, Hod Carriers Welfare Fund:  $56,369,891
Other organizations performing similar types of work:  $9,675,875

Income to expenses ratio in 2006: 1.7
Indiana Laborers Welfare Fund, Hod Carriers Welfare Fund:  1.7
Other organizations performing similar types of work:  1.0

Number of employees in 2006: 31
Indiana Laborers Welfare Fund, Hod Carriers Welfare Fund:  31
Other organizations performing similar types of work:  7

Employees paid over $50,000 in 2006: 3.2%
This organization:  3.2%
Other organizations performing similar types of work:  0.0%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420052006
Total revenue$52,425,671$48,902,872$58,123,325$65,758,008$71,414,849$79,365,652$96,169,720
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0
Contributions to donor advised funds$0
Direct public support$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$45,028,107$48,257,128$53,538,573$62,547,837$68,034,642$75,844,398$86,389,709
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$23,256$9,892$26,006$27,118$87,846$183,422$234,175
Dividends and interest from securities$3,891,151$3,025,835$2,147,109$1,927,439$2,026,841$2,190,967$3,659,117
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$3,295,516$-789,997$1,494,644$0$0$0$0
Gain or (loss) from sales of assets other than inventory$187,641$-1,599,986$916,993$1,255,614$1,265,520$1,146,865$5,886,719
Gross amount from sales of assets other than inventory$120,437,455$134,286,232$83,284,269$59,528,519$70,108,896$115,440,376$199,710,634
Less: cost or other basis and sales expenses$120,249,814$135,886,218$82,367,276$58,272,905$68,843,376$114,293,511$193,823,915
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Total expenses$61,561,045$65,932,797$67,638,282$61,440,725$67,204,880$56,325,049$56,369,891
Program services$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$85,064,065$68,034,140$58,519,183$62,586,092$66,578,017$91,197,923$126,643,373
Excess or (deficit) for the year$-9,135,374$-17,029,925$-9,514,957$4,317,283$4,209,969$23,040,603$39,799,829
Net assets or fund balances at beginning of year$94,199,439$85,064,065$68,034,140$58,519,183$62,586,092$66,578,017$91,197,923
Other changes in net assets or fund balances$0$0$0$-250,374$-218,044$1,579,303$-4,354,379
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$56,369,891$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$50,019,238
Compensation of current officers, directors, key employees, etc.$106,148$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$1,265,087$0$0$0
Pension plan contributions not included above$167,234$0$0$0
Employee benefits not included above$321,095$0$0$0
Payroll taxes$179,694$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$58,218$0$0$0
Legal fees$75,015$0$0$0
Supplies$310,629$0$0$0
Telephone$20,540$0$0$0
Postage and shipping$0$0$0$0
Occupancy$81,657$0$0$0
Equipment rental and maintenance$68,324$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$26,090$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$51,307$0$0$0
Other expenses not covered above$3,619,615$0$0$0
Balance Sheets
2000200120022003200420052006
Total assets$86,598,720$69,918,365$61,592,421$63,693,945$67,359,845$94,222,399$129,953,483
Cash - non-interest-bearing$0$0$0$0$0$0$0
Savings and temporary cash investments$4,269,026$4,584,417$7,327,733$6,913,166$7,377,682$13,015,826$11,809,059
Accounts receivable less allowance for doubtful accounts$4,225,849$4,670,325$4,863,069$5,153,062$5,697,978$6,880,176$7,515,561
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$10,398$18,791$27,810$45,694$56,535$54,821$276,551
Investments - publicly-traded securities$83,840,619
Investments - other securities$76,647,849$59,315,238$48,483,008$50,746,722$53,516,091$73,516,736$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$25,579,344
Land, buildings, and equipment less accumulated depreciation$646,817$593,817$497,728$417,553$378,255$327,227$285,546
Other assets, including program-related investments$798,781$735,777$393,073$417,748$333,304$427,613$646,803
Total liabilities$1,534,655$1,884,225$3,073,238$1,107,853$781,828$3,024,476$3,310,110
Accounts payable and accrued expenses$1,534,655$1,884,225$3,073,238$1,107,853$781,828$3,024,476$3,310,110
Grants payable$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0$0
Total liabilities and net assets/fund balances$86,598,720$69,918,365$61,592,421$63,693,945$67,359,845$94,222,399$129,953,483
Total net assets or fund balances$85,064,065$68,034,140$58,519,183$62,586,092$66,578,017$91,197,923$126,643,373
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420052006
Total revenue$52,425,671$48,902,872$58,123,325$65,758,008$0$0$0
Total revenue, gains, and other support per audited financial statements$52,425,671$48,902,872$58,123,325$65,758,008$0$0$0
Other expenses$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420052006
Total expenses$61,561,045$65,932,797$67,638,282$61,440,725$0$0$0
Total expenses and losses per audited financial statements$61,561,045$65,932,797$67,638,282$61,440,725$0$0$0
Other revenue$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$81,289$24,859$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings15
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200631
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$9,780,011$86,389,709
Program service revenue
Program service revenue 1000000$000$0$640,728
Program service revenue 2000000$000$0$85,695,208
Program service revenue 3000000$000$0$27,255
Program service revenue 4000000$000$0$26,518
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$234,175$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$3,659,117$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$5,886,719$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
1999200020012002200320042005
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Indiana Laborers Welfare Fund, Hod Carriers Welfare FundPO BOX 1587, Terre Haute, IN 47808-1587IN1957-05$199,201,437
2Indiana Kentucky Carpenters Welfare Fund5420 W Southern Ave Ste 407, Indianapolis, IN 46241-5569IN1960-07$151,806,096
3I S T A Insurance Trust150 W Market St Ste 900, Indianapolis, IN 46204IN1988-01$114,174,359
4Electrical Workers Insurance Benefit Fund Local 4811828 N Meridian St Ste 103, Indianapolis, IN 46202-1452IN1974-01$111,204,835
5Indiana State Council Of Roofers Health And Welfare Fund3440 Kossuth St, Lafayette, IN 47905-4714IN1971-12$109,754,560
6Indiana Teamsters Health Benefits Fund1233 Shelby St, Indianapolis, IN 46203IN1963-07$72,587,265
7Mid Central Operating Engineers Health & Welfare FundPO BOX 9605, Terre Haute, IN 47808-9605IN1954-07$60,406,595
8Northern Indiana Public Service Company Health & Medical Ben Tr, Trust801 E 86th Ave, Merrillville, IN 46410-6271IN1993-04$52,607,686
9Pipe Trades Industry Health & Welfare PlanP O Box 3040, Terre Haute, IN 47803IN1965-01$48,246,594
10Briggs & Stratton Employee Benefit Trust1e Oh St In1-0150, Indianapolis, IN 46277-0001IN1975-11$47,950,548
11Iba Group Insurance Trust8909 Purdue Rd Ste 100, Indianapolis, IN 46268-3147IN1974-05$36,444,874
12Cook Group Health Plan TrustPO BOX 1608, Bloomington, IN 47402-1608IN1981-09$29,413,079
13Glazing Employers & Glaziers Union Local 27 Health & Welfare Fund2111 W Lincoln Hwy, Merrillville, IN 46410-5334IN1959-10$24,805,593
14East Central Illinois Pipe Trades Health & Welfare Plan9045 East 59th Street, Indianapolis, IN 46216IN1967-02$19,223,109
15Indiana State Council Of Carpenters H&w FundIndianapolis, IN 46250IN$19,120,283
16Eli Lilly Company Master Trust For Post-Retirement Medical BenefiLilly Corporate Center, Indianapolis, IN 46285-0001IN1988-12$16,997,480
17Bricklayers & Allied Craftsmen Health & Welfare Fund T H9045 E 59th St, Indianapolis, IN 46216-1030IN1960-11$13,697,369
18Do It Best Corp Health Care Plan Trust AgreementPO BOX 868, Fort Wayne, IN 46801-0868IN1989-11$13,537,177
19Indiana State Council Of Plasterers & Cement Masons Health & Wel FundPO BOX 50440, Indianapolis, IN 46250IN1968-06$11,002,990
20Design & Manufacturing Corporation Employee Benefit Trust3032 Ohio Ave, Connersville, IN 47331-3073IN1987-10$6,404,615
21Health & Welfare Fund Of Teamsters Local Union 716Indianapolis, IN 46225IN$3,516,801
22Brotherhood Of Painters Decorators & Paperhangers Hlt & Wel Fd Lc 156, Local 156409 Millner Industrial Dr, Evansville, IN 47710-2545IN1985-11$2,959,094
23Evansville Graphic Arts Employees Welfare Insurance Fund Of Local 57, 571 Local516 N Fares Ave Ste E, Evansville, IN 47711-5243IN1977-03$1,724,208
24Baldwin & Lyons Inc Group Insurance Plan1099 N Meridian St Ste 700, Indianapolis, IN 46204-1036IN1988-04$1,455,509
25Family Care Health PlanIndianapolis, IN 46250IN$562,105
26Hy-Matic Mfg Inc Employees Benefit TrustPO BOX 98, Kendallville, IN 46755-0098IN1983-09$407,201
27Associated Hospital Service Of Maine Tax Exempt Employee Bnfts Tr, Webster Wayne R Ttee120 Monument Cir, Indianapolis, IN 46204-4906IN1993-08$352,128
28Bg Hoadley Quarries IncBloomington, IN 47402IN$264,346
29American United Life Employees AssociationPO BOX 368, Indianapolis, IN 46206-0368IN1944-09$93,108
30Bay State Gas Co Benefit TrustMerrillville, IN 46410IN$71,404
Number of organizations performing similar types of work
Alaska5
Alabama13
Arkansas5
Arizona12
California213
Colorado20
Connecticut40
District of Columbia24
Delaware9
Florida35
Georgia46
Hawaii21
Iowa24
Idaho5
Illinois228
Indiana43
Kansas18
Kentucky23
Louisiana9
Massachusetts80
Maryland55
Maine4
Michigan95
Minnesota82
Missouri70
Mississippi5
Montana7
North Carolina47
North Dakota7
Nebraska12
New Hampshire6
New Jersey126
New Mexico2
Nevada19
New York323
Ohio120
Oklahoma13
Oregon39
Pennsylvania199
Rhode Island20
South Carolina7
South Dakota2
Tennessee41
Texas119
Utah16
Virginia31
Vermont1
Washington64
Wisconsin58
West Virginia11
Wyoming1
Total2,475

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