Ironworkers District Council Of New England Health & Welfare Fund in Dorchester, Massachusetts (MA)

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Ironworkers District Council Of New England Health & Welfare Fund
Employer Identification Number (EIN)042163872
Name of OrganizationIronworkers District Council Of New England Health & Welfare Fund
Address161 Granite Ave, Dorchester, MA 02124-5491
ActivitiesEmployee or member welfare association, Sick, accident, death, or similar benefits
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date07/1987
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$38,476,832
Amount of Income$36,486,231
Form 990 Revenue Amount$17,809,608
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Voluntary Employees Beneficiary Associations (Non-Government)


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Amount of income in 2011: $36,486,231
This organization: 

 $36,486,231
Other organizations performing similar types of work: 

 $15,570,795

Assets in 2011: $38,476,832
Ironworkers District Council Of New England Health & Welfare Fund: 

 $38,476,832
Other organizations performing similar types of work: 

 $11,472,741

Expenses in 2007: $18,420,937
Ironworkers District Council Of New England Health & Welfare Fund: 

 $18,420,937
Other organizations performing similar types of work: 

 $9,889,885

Income to expenses ratio in 2007: 1.4
Ironworkers District Council Of New England Health & Welfare Fund: 

 1.4
Other organizations performing similar types of work: 

 1.0

Number of employees in 2007: 15
Ironworkers District Council Of New England Health & Welfare Fund: 

 15
Other organizations performing similar types of work: 

 7

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
20032004200520062007
Total revenue$21,104,010$20,131,513$22,467,727$26,164,354$25,844,026
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0
Indirect public support$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$19,888,401$19,243,246$21,303,292$25,285,259$24,671,441
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$531,575$355,164$258,317$339,211$663,040
Dividends and interest from securities$195,229$158,246$187,368$467,883$502,002
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$471,090$350,255$703,084$72,001$7,543
Gross amount from sales of assets other than inventory$19,218,801$8,081,146$7,284,588$15,598,094$18,891,125
Less: cost or other basis and sales expenses$18,747,711$7,730,891$6,581,504$15,526,093$18,883,582
Net income or (loss) from special events and activities$0$0$0$0$0
Gross revenue$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$17,715$24,602$15,666$0$0
Total expenses$26,703,928$22,570,228$21,715,897$18,370,042$18,420,937
Program services$0$0$0$0$0
Management and general$0$0$0$0$0
Fundraising$0$0$0$0$0
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$15,773,205$13,538,836$13,522,850$21,560,546$29,537,684
Excess or (deficit) for the year$-5,599,918$-2,438,715$751,830$7,794,312$7,423,089
Net assets or fund balances at beginning of year$20,763,803$15,773,205$13,538,836$13,522,850$21,560,546
Other changes in net assets or fund balances$609,320$204,346$-767,816$243,384$554,049
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$18,420,937$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$16,244,139
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$487,858$0$0$0
Pension plan contributions not included above$25,531$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$42,795$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$36,217$0$0$0
Legal fees$152,162$0$0$0
Supplies$38,212$0$0$0
Telephone$12,976$0$0$0
Postage and shipping$8,616$0$0$0
Occupancy$43,154$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$2,222$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$25,173$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$17,139$0$0$0
Other expenses not covered above$1,284,743$0$0$0
Balance Sheets
20032004200520062007
Total assets$21,122,341$17,879,922$17,340,518$24,446,907$32,420,604
Cash - non-interest-bearing$412,833$438,715$119,766$668,889$625,045
Savings and temporary cash investments$769,035$589,524$3,427,549$1,540,227$1,500,521
Accounts receivable less allowance for doubtful accounts$1,219,441$1,609,002$1,067,063$2,005,406$1,579,619
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$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
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$14,817$16,638$24,855$15,329$16,662
Investments - publicly-traded securities$13,162,625$21,223,292
Investments - other securities$12,999,978$9,509,138$6,298,048$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$4,630,757$4,944,572$5,145,359$5,618,908$5,879,623
Land, buildings, and equipment less accumulated depreciation$334,826$233,356$164,470$101,405$91,611
Other assets, including program-related investments$740,654$538,977$1,093,408$1,334,118$1,504,231
Total liabilities$5,349,136$4,341,086$3,817,668$2,886,361$2,882,920
Accounts payable and accrued expenses$783,071$236,206$361,500$307,673$404,640
Grants payable$0$0$0$0$0
Deferred revenue$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0
Other liabilities$4,566,065$4,104,880$3,456,168$2,578,688$2,478,280
Total liabilities and net assets/fund balances$21,122,341$17,879,922$17,340,518$24,446,907$32,420,604
Total net assets or fund balances$15,773,205$13,538,836$13,522,850$21,560,546$29,537,684
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20032004200520062007
Total revenue$21,104,010$20,131,513$22,467,727$26,164,354$25,844,026
Total revenue, gains, and other support per audited financial statements$21,104,010$20,287,359$21,662,009$26,371,356$26,330,956
Other expenses$0$204,346$-767,816$243,384$554,049
Net unrealized gains on investments$0$204,346$-767,816$243,384$554,049
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$0$0
Other revenue$0$48,500$37,902$36,382$67,119
Investment expenses$0$48,500$37,902$36,382$67,119
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20032004200520062007
Total expenses$26,703,928$22,570,228$21,715,897$18,370,042$18,420,937
Total expenses and losses per audited financial statements$26,703,928$22,521,728$22,358,844$19,194,685$18,457,311
Other revenue$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$0$0
Other expenses$0$48,500$-642,947$-824,643$-36,374
Investment expenses$0$48,500$37,902$36,382$67,119
Other$0$0$-680,849$-861,025$-103,493
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$14,883$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings6
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?No
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$28,248$0$0
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, 200615
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$1,172,585$24,671,441
Program service revenue
Program service revenue 1000000$000$0$22,473,018
Program service revenue 2000000$000$0$2,198,423
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
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)$663,040$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)$502,002$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))$7,543$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
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$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
20022003200420052006
Total$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$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
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
Other income$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
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$17,809,608
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$16,494,714
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$990,624
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$324,270
Gross amount from sales of assets other than inventory (Securities / Other)$19,000,893 / $0
Less: cost or other basis and sales expenses (Securities / Other)$18,676,623 / $0
Gain or (loss) (Securities / Other)$324,270 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$15,223,753
Compensation of current officers, directors, trustees, and key employees$36,838
Other salaries and wages$488,748
Payroll taxes$45,493
Professional fundraising services$0
Other$14,652,674
Balance Sheet (for 2011)
Total assets$38,476,832
Total liabilities$2,214,999
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$14,217
Other$2,200,782
Total net assets or fund balances$36,261,833
Retained earnings, endowment, accumulated income, or other funds$36,261,833
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Johnson & Johnson Voluntary Employee Benefit Trust2 Avenue De Lafayette, Boston, MA 02111-1750MA1972-02$696,482,521
2Electrical Workers Health And Welfare Fund Local 103 Ibew256 Freeport St, Boston, MA 02122-2845MA1953-06$413,521,605
3Bellsouth Corp Representable Empl Healthcare Trust EmployeesPO BOX 5100, Boston, MA 02206-5100MA1994-06$389,079,270
4Zeba Trust770 Cochituate Road Corp Tax Dept, Framingham, MA 01701MA1922-07$296,188,764
5Bellsouth Corporation Healthecare Trust EmployeesPO BOX 5100, Boston, MA 02206-5100MA1994-06$184,880,560
6New England Carpenters Health Benefits Fund350 Fordham Rd, Wilmington, MA 01887-2174MA1959-04$151,290,928
7Teamsters Union Local 25 Health Services & Insurance Plan16 Sever St, Charlestown, MA 02129-1305MA1957-04$118,583,048
8Massachusetts Laborers Health And Welfare Fund14 New England Executive Pk Ste 200, Burlington, MA 01803-5201MA1965-04$100,114,746
9Consumers Power Company Non-Union Welfare Benefit Trust To Provide, For Retiree Health Care & OtherPO BOX 5100, Boston, MA 02206-5100MA1995-11$95,604,143
10Consumers Power Company Union Welfare Tr To Provide For Retiree, BenefitsPO BOX 5100, Boston, MA 02206-5100MA1995-11$92,426,891
11Health & Welfare Fund, Teamsters Local 170 & 437330 Southwest Cutoff, Worcester, MA 01604-2730MA1959-10$75,177,992
12Northrop Grumman Corporation Veba Master Trust Iii2 Ave De Lafayette Lcc1e, Boston, MA 02111MA1978-03$56,613,753
13International Union Of Operating Engineers, Iuoe Local 4PO BOX 680, Medway, MA 02053-0680MA1959-01$52,798,270
14Nstar Retirees Benefit Trust1 Nstar Way, Westwood, MA 02090-2341MA1995-06$52,283,989
15Sheet Metal Workers Union Local No 17 Insurance Fund1157 Adams St - 1st Floor, Dorchester, MA 02124-5710MA1951-07$52,075,022
16Consolidated Edison Of Ny Inc, Master Veba Retire Health TrPO BOX 5100, Boston, MA 02206-5100MA1994-04$48,825,574
17Massachusetts Bricklayers And Masons Health & Welfare Fund645 Morrissey Boulevard, Boston, MA 02122-3563MA1954-03$47,559,190
18Boston Building Service Employees Trust Fund26 West St Fl 3, Boston, MA 02111-1207MA1963-10$43,804,086
19Painters District Council 35 Health Benefits Fund25 Colgate Rd Ste 204, Boston, MA 02131-1123MA1970-07$41,740,529
20Unifirst Employee Benefit Trust68 Jonspin Rd, Wilmington, MA 01887-1090MA$38,354,666
Number of organizations performing similar types of work
Alaska4
Alabama13
Arkansas6
Arizona19
California217
Colorado18
Connecticut44
District of Columbia24
Delaware7
Florida38
Georgia43
Hawaii21
Iowa25
Idaho5
Illinois218
Indiana47
Kansas19
Kentucky23
Louisiana10
Massachusetts81
Maryland58
Maine4
Michigan96
Minnesota80
Missouri75
Mississippi6
Montana7
North Carolina45
North Dakota6
Nebraska12
New Hampshire5
New Jersey128
New Mexico3
Nevada18
New York325
Ohio132
Oklahoma12
Oregon38
Pennsylvania205
Rhode Island20
South Carolina6
South Dakota2
Tennessee46
Texas113
Utah16
Virginia28
Vermont1
Washington65
Wisconsin61
West Virginia12
Wyoming1
International1
Total2,509

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