Sheet Metal Workers 303 Welfare Fund in Indianapolis, Indiana (IN)

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Sheet Metal Workers 303 Welfare Fund
Employer Identification Number (EIN)356028684
Name of OrganizationSheet Metal Workers 303 Welfare Fund
Address2828 E 45th St, Indianapolis, IN 46205-2403
ActivitiesUnderwriting municipal insurance
SubsectionLabor Organization
Ruling Date02/1962
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$92,147,731
Amount of Income$57,287,643
Form 990 Revenue Amount$38,410,027
National Taxonomy of Exempt Entities (NTEE)Employment, Job-Related: Labor Unions, Organizations


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Amount of income in 2010: $57,287,643
Sheet Metal Workers 303 Welfare Fund: 

 $57,287,643
Other organizations performing similar types of work: 

 $231,273

Assets in 2010: $92,147,731
This organization: 

 $92,147,731
Other organizations performing similar types of work: 

 $260,825

Expenses in 2007: $32,142,836
This organization: 

 $32,142,836
Other organizations performing similar types of work: 

 $2,429,018

Income to expenses ratio in 2007: 1.3
Sheet Metal Workers 303 Welfare Fund: 

 1.3
Other organizations performing similar types of work: 

 1.0

Number of employees in 2007: 5
Sheet Metal Workers 303 Welfare Fund: 

 5
Other organizations performing similar types of work: 

 10

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$25,232,739$24,663,297$25,587,258$31,398,185$33,475,687$35,237,513$36,207,185$40,740,623
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$22,817,289$23,339,675$25,742,730$28,152,139$31,835,943$33,411,616$35,139,303$39,438,615
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$207,663$124,452$35,337$15,922$50,045$124,012$186,619$132,299
Dividends and interest from securities$2,157,690$2,238,874$1,970,289$1,776,901$1,885,493$1,993,241$1,027,894$674,353
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$50,097$-1,039,704$-2,161,098$1,453,223$-295,794$-291,356$-146,631$495,356
Gross amount from sales of assets other than inventory$3,218,178$24,019,753$31,715,056$19,127,896$13,896,729$10,713,210$47,323,709$4,883,077
Less: cost or other basis and sales expenses$3,168,081$25,059,457$33,876,154$17,674,673$14,192,523$11,004,566$47,470,340$4,387,721
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Total expenses$23,129,495$26,172,130$30,595,928$27,631,043$27,271,965$30,123,612$28,563,769$32,142,836
Program services$0$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$525$625$625$1,225$3,675$2,500$0
Net assets or fund balances at end of year$48,919,382$48,370,854$42,834,848$46,860,766$53,903,342$59,160,049$70,310,587$83,086,640
Excess or (deficit) for the year$2,103,244$-1,508,833$-5,008,670$3,767,142$6,203,722$5,113,901$7,643,416$8,597,787
Net assets or fund balances at beginning of year$46,474,386$48,919,382$48,370,854$42,834,848$46,860,766$53,903,342$59,160,049$70,310,587
Other changes in net assets or fund balances$341,752$960,305$-527,336$258,776$838,854$142,806$3,507,122$4,178,266
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$32,142,836$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$30,732,532
Compensation of current officers, directors, key employees, etc.$0$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$115,450$0$0$0
Pension plan contributions not included above$22,264$0$0$0
Employee benefits not included above$27,830$0$0$0
Payroll taxes$10,268$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$75,082$0$0$0
Legal fees$27,509$0$0$0
Supplies$8,714$0$0$0
Telephone$3,222$0$0$0
Postage and shipping$33,526$0$0$0
Occupancy$9,816$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$22,300$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$8,601$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$11,034$0$0$0
Other expenses not covered above$1,034,688$0$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$50,008,935$49,945,123$43,214,456$48,053,586$55,506,479$60,180,855$71,549,491$84,186,294
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$3,436,459$3,673,237$3,178,227$5,667,305$9,645,467$6,804,569$5,236,725$4,280,512
Accounts receivable less allowance for doubtful accounts$1,947,490$2,042,957$1,767,646$2,475,031$2,676,058$2,833,733$3,410,785$3,799,629
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$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$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$6,333$5,959$5,156$4,789$7,505$5,383$8,263$6,562
Investments - publicly-traded securities$24,704,477$24,268,050
Investments - other securities$44,192,686$43,822,329$37,916,777$39,511,667$42,765,436$50,071,045$38,073,908$51,752,009
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$56,239$38,490$33,303$16,270$9,773$21,078$40,071$29,037
Other assets, including program-related investments$369,728$362,151$313,347$378,524$402,240$445,047$75,262$50,495
Total liabilities$1,089,553$1,574,269$379,608$1,192,820$1,603,137$1,020,806$1,238,904$1,099,654
Accounts payable and accrued expenses$223,000$204,319$379,608$115,430$116,108$105,822$140,279$234,047
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$866,553$1,369,950$0$1,077,390$1,487,029$914,984$1,098,625$865,607
Total liabilities and net assets/fund balances$50,008,935$49,945,123$43,214,456$48,053,586$55,506,479$60,180,855$71,549,491$84,186,294
Total net assets or fund balances$48,919,382$48,370,854$42,834,848$46,860,766$53,903,342$59,160,049$70,310,587$83,086,640
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$0$0$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$0$0$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings16
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?Yes
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, 20065
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,302,008$39,438,615
Program service revenue
Program service revenue 1000000$000$0$34,588,329
Program service revenue 2000000$000$0$3,392,271
Program service revenue 3000000$000$0$77,778
Program service revenue 4000000$000$0$185,859
Program service revenue 5000000$000$0$40,630
000000$000$0$34,588,329
000000$000$0$3,392,271
000000$000$0$77,778
000000$000$0$185,859
000000$000$0$40,630
Medicare/Medicaid payments000000$000$0$1,153,748
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)$132,299$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)$674,353$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))$495,356$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 2007)
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 2007)
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 2007)
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
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$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$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$0
Net income from unrelated business activities not included above$0$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$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$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
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
1Meba Vacation Plan Atlantic Gulf And Pacific Coasts1007 Eastern Ave, Baltimore, MD 21202-4652MD1996-06$79,055,172
2Sheet Metal Workers 303 Welfare Fund2828 E 45th St, Indianapolis, IN 46205-2403IN1962-02$57,287,643
3Plumbing Industry Board158-29 George Meany Blvd, Howard Beach, NY 11414NY1964-03$51,677,124
4Ibew-363 Labor Welfare Fund67 Commerce Dr S, Harriman, NY 10926-3100NY1955-05$34,735,051
5Brotherhood Of Locomotive Engineers & Trainmen1370 Ontario St Mezz Std Bldg, Cleveland, OH 44113OH1943-02$17,486,509
6Cement & Concrete Workers District Council Welfare Fund35-30 Francis Lewis Blvd, Flushing, NY 11358-1931NY1962-11$17,337,423
7International Brotherhood Of Electrical Workers, 0292 Local312 Central Ave Se Ste 292, Minneapolis, MN 55414-1087MN1940-08$5,502,833
8Workers United, Rochester Regional Joint Board750 East Avenue, Rochester, NY 14607-2100NY2010-03$5,457,186
9American Federation Of Teachers, 3326 Duval Teachers United1601 Atlantic Blvd, Jacksonville, FL 32207-3318FL1945-02$4,409,379
10Plumbers Local Union No 1 Trade & Education Fund158-29 George Meany Blvd, Howard Beach, NY 11414-3137NY1990-12$3,319,445
11United Association Of Journeymen & Apprentices Of The Plumbing & Pipe, 537 Ppf35 Travis St, Allston, MA 02134-1251MA1941-01$2,981,301
12Sheet Metal Workers Vacation Fund Of Local 191301 S Columbus St Blvd 1st Flr, Philadephia, PA 19147-5505PA1977-08$2,940,789
13Laborers International Union Of North America, 60 Hcl140 Broadway, Hawthorne, NY 10532-1149NY1940-09$2,778,821
14Cwa Typo 6-Printers Publishers & Media Workers Benefit Fund352 7th Ave Rm 601, New York, NY 10001-5189NY1956-07$2,313,930
15National Alliance Of Postal And Federal EmployeesPO BOX 14406, Houston, TX 77221-4406TX1951-02$2,108,792
16Laborers International Union Of North America, 42 Hcl3710 Enright Ave, Saint Louis, MO 63108-3624MO1940-09$1,491,093
17United Association Of Journeymen & Apprentices Of The Plumbing & Pipe, Ppf Local 433009 Riverside Dr, Chattanooga, TN 37406-4034TN1959-04$1,365,830
18International Longshoremens Association, 1475 IlaPO BOX 1325, Savannah, GA 31402-1325GA1960-01$1,173,494
19United Union Of Roofers Waterproofers & Allied Workers Loc, 2 Rdwa2920 Locust St, Saint Louis, MO 63103-1311MO1944-12$1,116,368
20Communication Workers Of America, 81485 Local160 Montague Street Mezzanine Floor, Brooklyn, NY 11201-3507NY1950-11$425,736
21United Brotherhood Of Carpenters & Joiners Of America 275, Local 275411 Lexington St, Newton, MA 02466-1906MA1944-06$244,980
22Indianapolis Education Association Inc6910 N Shadeland Ave Ste 100, Indianapolis, IN 46220-4274IN1972-02$206,316
23Associated Brick Mason Contractors Of Greater New York Inc95 Croton Avenue, Ossining, NY 10562-4216NY1965-10$194,853
24Civil Service Employees Association, 0872 Niagara Co Educational Emplys110 Forbes Ter, N Tonawanda, NY 14120-1855NY1970-07$76,297
25American Federation Of Labor & Congress Of Industrial Orgs, Decatur Trade & Labor AssemblyPO BOX 2847, Decatur, IL 62524-2847IL1956-05$42,739
26United Steelworkers11 Windhaven Drive, Rochester, NH 03867NH1940-12$26,239
27International Brotherhood Of Teamsters, Local 210 Service Production Merch110 Wall Street - 3rd Floor, New York, NY 10005-3801NY1941-02$11,777,884
28Society Of American Foresters5400 Grosvenor Ln, Bethesda, MD 20814-2122MD1972-05$5,823,823
29Ironworkers Local 292 General Bldg Contractors Assn Appr Eductl Fund3515 Boland Dr, South Bend, IN 46628-4303IN1972-02$216,874
30Calumet Project For Industrial Jobs Inc200 Russell St Ste 304, Hammond, IN 46320-1825IN1989-06$77,990
Number of organizations performing similar types of work
Alaska1
Alabama5
Arkansas3
Arizona2
California7
Connecticut11
District of Columbia1
Delaware3
Florida10
Georgia4
Iowa1
Illinois18
Indiana4
Kentucky3
Louisiana6
Massachusetts14
Maryland4
Maine1
Michigan5
Minnesota11
Missouri7
Mississippi1
Montana6
North Carolina1
Nebraska1
New Hampshire1
New Jersey4
Nevada2
New York65
Ohio10
Oregon1
Pennsylvania15
Rhode Island3
South Carolina2
South Dakota3
Tennessee10
Texas9
Washington3
Wisconsin12
West Virginia1
Total271

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