Pipefitters Union-537 Welfare Fund in Allston, Massachusetts (MA)

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Pipefitters Union-537 Welfare Fund
Employer Identification Number (EIN)042167074
Name of OrganizationPipefitters Union-537 Welfare Fund
Address35 Travis St Unit 1, Allston, MA 02134-1251
ActivitiesEmployee or member welfare association, Other health services, Sick, accident, death, or similar benefits
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date02/1955
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period02/2011
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$24,724,290
Amount of Income$26,179,641
Form 990 Revenue Amount$24,794,818
National Taxonomy of Exempt Entities (NTEE)Health - General and Rehabilitative:


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Amount of income in 2011: $26,179,641
This organization: 

 $26,179,641
Other organizations performing similar types of work: 

 $3,680,069

Assets in 2011: $24,724,290
Pipefitters Union-537 Welfare Fund: 

 $24,724,290
Other organizations performing similar types of work: 

 $1,261,707

Expenses in 2007: $28,333,147
This organization: 

 $28,333,147
Other organizations performing similar types of work: 

 $8,696,778

Income to expenses ratio in 2007: 0.9
Pipefitters Union-537 Welfare Fund: 

 0.9
Other organizations performing similar types of work: 

 1.1

Number of employees in 2007: 5
Pipefitters Union-537 Welfare Fund: 

 5
Other organizations performing similar types of work: 

 6

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$16,424,336$17,915,042$17,862,105$15,352,244$15,564,578$16,054,396$19,747,774$24,460,718
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$15,064,440$16,573,850$17,068,297$13,694,000$14,223,382$14,899,857$17,365,917$23,452,747
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$644,101$168,467$636,057$127,507$28,383$41,084$50,455$1,095,323
Dividends and interest from securities$1,012,241$1,021,408$462,741$783,895$813,602$1,286,983$1,567,930$349,457
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$0
Gain or (loss) from sales of assets other than inventory$-296,446$151,317$-304,990$746,842$499,211$-173,528$763,472$-436,809
Gross amount from sales of assets other than inventory$0$151,317$0$746,842$13,576,120$9,528,198$12,762,189$6,269,615
Less: cost or other basis and sales expenses$296,446$0$304,990$0$13,076,909$9,701,726$11,998,717$6,706,424
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$43,252,666$12,828,003$15,203,922$17,722,618$20,805,253$22,159,361$25,162,340$28,333,147
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$0$0$0$0$0$0$0
Net assets or fund balances at end of year$10,066,231$45,742,609$44,296,477$49,842,606$47,037,707$42,323,917$38,076,031$32,698,459
Excess or (deficit) for the year$-26,828,330$5,087,039$2,658,183$-2,370,374$-5,240,675$-6,104,965$-5,414,566$-3,872,429
Net assets or fund balances at beginning of year$34,399,392$42,328,678$45,742,609$44,296,478$49,842,606$47,037,707$42,323,917$38,076,031
Other changes in net assets or fund balances$2,495,169$-1,673,108$-4,104,315$7,916,502$2,435,776$1,391,175$1,166,680$-1,505,143
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$28,333,147$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$25,905,002
Compensation of current officers, directors, key employees, etc.$55,658$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$138,759$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$48,664$0$0$0
Payroll taxes$10,813$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$32,500$0$0$0
Legal fees$14,515$0$0$0
Supplies$5,122$0$0$0
Telephone$2,296$0$0$0
Postage and shipping$4,733$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$20,261$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$12,918$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$2,081,906$0$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$43,527,622$47,804,006$46,735,317$50,536,030$47,849,938$42,793,836$41,035,277$34,789,856
Cash - non-interest-bearing$150$150$150$150$150$150$150$0
Savings and temporary cash investments$8,583,820$12,670,655$13,908,737$4,436,607$4,160,588$1,866,271$4,266,262$3,212,501
Accounts receivable less allowance for doubtful accounts$1,787,870$2,549,435$2,082,216$1,566,505$1,623,812$1,729,400$1,998,375$2,340,848
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$0$0$0$0$0$0$0$0
Investments - publicly-traded securities$8,352,267$9,674,266
Investments - other securities$24,959,810$19,623,980$15,935,877$17,781,784$14,316,091$13,220,648$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$6,775,741$11,136,339$12,476,067$24,122,735$24,749,297$22,777,367$23,018,223$15,762,241
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Other assets, including program-related investments$1,420,231$1,823,447$2,332,270$2,628,249$3,000,000$3,200,000$3,400,000$3,800,000
Total liabilities$33,461,391$2,061,397$2,438,839$693,424$812,231$469,919$2,959,246$2,091,397
Accounts payable and accrued expenses$2,937,147$193,503$218,989$232,233$237,778$280,603$265,877$1,921,336
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$30,524,244$1,867,894$2,219,850$461,191$574,453$189,316$2,693,369$170,061
Total liabilities and net assets/fund balances$43,527,622$47,804,006$46,735,317$50,536,030$47,849,938$42,793,836$41,035,277$34,789,856
Total net assets or fund balances$10,066,231$45,742,609$44,296,478$49,842,606$47,037,707$42,323,917$38,076,031$32,698,459
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 meetings0
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
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$1,444,780$23,015,938
Program service revenue
Program service revenue 1000000$000$0$22,803,262
Program service revenue 2000000$000$0$649,485
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)$1,095,323$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)$349,457$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$000$0$-436,809
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
1Neighborhood Health Plan253 Summer St, Boston, MA 02210-1120MA1990-10$1,273,278,454
2Harvard Pilgrim Health Care Of New England Inc93 Worcester St, Wellesley, MA 02481-3609MA1979-09$330,840,049
3Group Health Program Of The Natnl Telecommunications Coop Assoc, Account Number 191-419-124030 Town Square Blvd Ste 300, Asheville, NC 28803-5087NC1975-10$263,389,108
4Ufcw Local Unions & Employers Benefit Plan Of Sw Ohio Area7250 Poe Ave Ste 300, Dayton, OH 45414-2698OH1957-11$132,094,664
5Carpenters Industrial Council Trust Fund602 Virginia St E, Charleston, WV 25301-2154WV1974-06$83,892,269
6Massachusetts Public Employees Health & Welfare Fund45 Bromfield St Ste 401, Boston, MA 02108-4117MA1985-11$29,128,482
7Pipefitters Union-537 Welfare Fund35 Travis St Unit 1, Allston, MA 02134-1251MA1955-02$26,179,641
8Main Automobile Dealers Assoc Inc Insurance Trust 180 Civic Center DPO BOX 2667, Augusta, ME 04338-2667ME1968-01$23,212,242
9Suffolk County Municipal Employees Benefit Fund30 Orville Dr Ste D, Bohemia, NY 11716-2513NY1976-07$19,989,504
10Local 201 Plumbers & Steamfitters Welfare PlanBoice Rd, Hyde Park, NY 12538NY1974-12$16,204,171
11Stationary Engineers Fireman Mntnce & Bldg Srvc Union Loc 670 Wlfr Fnd299 Broadway, New York, NY 10007-1901NY1978-04$12,003,681
12Local 373 Ua Health & Welfare Fund76 Pleasant Hill Road, Mountainville, NY 10953NY1994-01$9,617,224
13Construction Teamsters Health & Welfare Fund16 Sever St, Charlestown, MA 02129-1305MA1961-02$8,411,266
14Journeymen Of Plumb & Pipefitting Industry Welfare Fund Local 27436 Hopatchung Rd, Hopatcong, NJ 07843-1524NJ1958-01$8,040,193
15Bakery Drivers-194 Welfare Fund2003 Route 130, North Brunswick, NJ 08902-4857NJ1955-09$6,115,283
16District Council 37 Cultural Inst Health & Security Plan Tr125 Barclay St, New York, NY 10007-2233NY1981-06$5,342,747
17Prudential Retiree Medical Benefits Tr100 Plaza One Ms3048, Jersey City, NJ 07311-3901NJ1992-01$4,929,617
18Harrison Teachers Benefits255 Union Ave, Harrison, NY 10528-1602NY1983-09$1,572,106
19Health & Welfare Fund Of Local No 340 - I A T S EPO BOX 636, Jericho, NY 11753-0636NY1987-05$404,511
20Harness Horsemens Health And Retirement Inc800 Michigan Ave, Columbus, OH 43215-1107OH1988-08$148,103
21Chemcentral Corporation Benefit TrustPO BOX 34325, Seattle, WA 98124-1325WA1989-05$67,142
22Connecticut Mutual Ins Co Voluntary Employee Beneficiary Tr1295 State St Mip F205, Springfield, MA 01111-0001MA1990-03$1,673
23Group Health Co-Operative Of Eau Claire2503 N Hillcrest Parkway, Altoona, WI 54720-2569WI1994-09$316,164,525
24Medical-Dental Benefit Plan Trust For Employees Of Aetna Serv Inc, Casualty Company Trust151 Farmington Ave, Hartford, CT 06156-0001CT1992-08$29,156,845
25Chicago Plastering Health & Welfare Trust5611 W 120th St, Alsip, IL 60803-3449IL1963-05$14,465,947
26Amalgamated Life And Health Insurance Company333 Westchester Avenue, White Plains, NY 10604-2910NY1943-08$8,875,650
27Campagna Turano Bakeries Inc & Turano Pastry Shops Inc S-F Ben Tr6501 Roosevelt Rd, Berwyn, IL 60402-1100IL1983-04$8,124,753
28Ernie Green Industries Inc Health & Welfare Trust3500 Pentagon Boulevard, Beavercreek, OH 45431-2375OH1988-10$5,507,554
29Burr Oak Tool & Gauge Co Inc Employees Health Benefit Plan TrusPO BOX 338, Sturgis, MI 49091-0338MI1988-09$5,069,127
30Kraus Anderson Incorporated Health Care Plan Trust Agreement525 S 8th St, Minneapolis, MN 55404-1030MN1981-05$4,249,788
Number of organizations performing similar types of work
Arkansas3
Arizona2
Connecticut4
Delaware1
Florida3
Iowa1
Illinois3
Indiana1
Louisiana1
Massachusetts6
Maine1
Michigan2
Minnesota2
Missouri2
North Carolina1
New Jersey3
New York19
Ohio5
Oregon1
Pennsylvania2
South Dakota1
Texas3
Vermont1
Washington1
Wisconsin2
West Virginia1
Total72

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