Masonry Welfare Trust in Portland, Oregon (OR)

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Masonry Welfare Trust
Employer Identification Number (EIN)936023043
Name of OrganizationMasonry Welfare Trust
Address9848 E Burnside St, Portland, OR 97216-2330
ActivitiesEmployee or member welfare association
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date11/1957
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$5,000,000 to $9,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$7,691,094
Amount of Income$7,452,392
Form 990 Revenue Amount$7,364,518
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: $7,452,392
Masonry Welfare Trust: 

 $7,452,392
Other organizations performing similar types of work: 

 $15,570,795

Assets in 2011: $7,691,094
This organization: 

 $7,691,094
Other organizations performing similar types of work: 

 $11,472,741

Expenses in 2007: $8,151,987
This organization: 

 $8,151,987
Other organizations performing similar types of work: 

 $9,889,885

Income to expenses ratio in 2007: 0.9
This organization: 

 0.9
Other organizations performing similar types of work: 

 1.0

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$6,277,159$7,379,110$8,266,310$6,764,394$7,137,318
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$5,910,764$6,765,905$7,474,790$5,958,058$6,105,724
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$11,166$16,136$30,428$33,223$35,712
Dividends and interest from securities$282,905$298,383$380,171$446,798$452,518
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$63,748$250,741$370,881$-48,152$372,767
Gross amount from sales of assets other than inventory$5,242,129$3,130,409$3,737,434$5,639,369$5,407,134
Less: cost or other basis and sales expenses$5,178,381$2,879,668$3,366,553$5,687,521$5,034,367
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$8,576$47,945$10,040$374,467$170,597
Total expenses$5,678,867$5,978,449$6,064,388$9,549,356$8,151,987
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$0
Net assets or fund balances at end of year$-13,144,699$-7,388,593$-2,495,081$-5,139,818$-3,155,619
Excess or (deficit) for the year$598,292$1,400,661$2,201,922$-2,784,962$-1,014,669
Net assets or fund balances at beginning of year$-10,013,294$-13,144,699$-7,388,593$-2,495,081$-5,139,818
Other changes in net assets or fund balances$-3,729,697$4,355,445$2,691,590$140,225$2,998,868
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$8,151,987$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$7,719,072
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$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$1,823$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$40,118$0$0$0
Legal fees$107,199$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$18,437$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$9,620$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$7,212$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$248,506$0$0$0
Balance Sheets
20032004200520062007
Total assets$10,499,735$11,903,650$13,952,377$12,195,995$10,796,817
Cash - non-interest-bearing$37,357$1,289,237$959,182$71,950$44,518
Savings and temporary cash investments$1,748,688$307,679$866,419$155,382$617,846
Accounts receivable less allowance for doubtful accounts$438,392$459,782$429,732$477,696$383,458
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$13,482$8,011$6,585$9,703$8,862
Investments - publicly-traded securities$11,010,662$9,522,374
Investments - other securities$8,177,686$9,759,048$11,561,255$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Other assets, including program-related investments$84,130$79,893$129,204$470,602$219,759
Total liabilities$23,644,434$19,292,243$16,447,458$17,335,813$13,952,436
Accounts payable and accrued expenses$1,389,652$1,420,539$2,226,064$2,553,381$3,919,901
Grants payable$0$0$0$0$0
Deferred revenue$35,395$57,110$66,392$72,229$74,335
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$22,219,387$17,814,594$14,155,002$14,710,203$9,958,200
Total liabilities and net assets/fund balances$10,499,735$11,903,650$13,952,377$12,195,995$10,796,817
Total net assets or fund balances$-13,144,699$-7,388,593$-2,495,081$-5,139,818$-3,155,619
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20032004200520062007
Total revenue$6,277,159$7,379,110$8,266,310$6,764,394$7,137,318
Total revenue, gains, and other support per audited financial statements$7,278,566$7,294,471$7,861,676$6,824,053$7,006,342
Other expenses$1,039,598$-49,348$-361,432$88,856$0
Net unrealized gains on investments$1,039,598$-49,348$-361,432$88,856$0
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$38,191$35,291$43,202$29,197$130,976
Investment expenses$38,191$35,291$43,202$29,197$0
Other$0$0$0$0$130,976
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20032004200520062007
Total expenses$5,678,867$5,978,449$6,064,388$9,549,356$8,151,987
Total expenses and losses per audited financial statements$5,642,845$5,862,125$5,828,731$8,660,339$8,420,159
Other revenue$2,169$0$0$0$268,172
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$2,169$0$0$0$268,172
Other expenses$38,191$116,324$235,657$889,017$0
Investment expenses$38,191$35,291$43,202$29,197$0
Other$0$81,033$192,455$859,820$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings10
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, 20060
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$0$7,137,318
Program service revenue
Program service revenue 1000000$000$0$5,237,011
Program service revenue 2000000$000$0$868,713
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$000$0$35,712
Dividends and interest from securities000000$000$0$452,518
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$372,767
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$170,597
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$7,364,518
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$6,949,574
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$199,751
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$67,322
Gross amount from sales of assets other than inventory (Securities / Other)$155,196 / $0
Less: cost or other basis and sales expenses (Securities / Other)$87,874 / $0
Gain or (loss) (Securities / Other)$67,322 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$147,871
Statement of Functional Expenses (for 2011)
Total functional expenses$8,544,275
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$8,544,275
Balance Sheet (for 2011)
Total assets$7,691,094
Total liabilities$36,250,280
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$36,250,280
Total net assets or fund balances$-28,559,186
Retained earnings, endowment, accumulated income, or other funds$-28,559,186
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
1Oregon Teamster Employers TrustPO BOX 4148, Portland, OR 97208-4148OR1960-02$229,046,205
2Pacificorp Union Employees Welfare Benefits Trust825 Ne Multnomah St Ste 1800, Portland, OR 97232-2149OR1996-02$185,828,102
3Harrison Electrical Workers Trust Fund1220 Sw Morrison St Ste 300, Portland, OR 97205-2299OR1957-09$124,784,773
4Oregon-Washington Carpenters Employers Health And Welfare FundPO BOX 4148, Portland, OR 97208-4148OR1957-11$111,444,104
5Alaska Teamster-Employer Welfare Trust1220 Sw Morrison St Ste 300, Portland, OR 97205-2299OR1955-12$79,077,502
6United Association Plumber Stmftr & Shpftr Indstry Retiree Health Tr7600 Sw Mohawk St, Tualatin, OR 97062-8121OR1996-01$75,046,037
7Daimler Trucks N A Lla2701 Nw Vaughn St Ste 900, Portland, OR 97210-5376OR1993-07$73,235,242
8Oregon Laborers-Employers Health And Welfare Trust FundPO BOX 4148, Portland, OR 97208-4148OR1957-02$58,146,370
9United Metal Trades Association Trust, Umta Trust906 Ne 19th Ave, Portland, OR 97232-2203OR1980-04$49,328,213
10Tektronix Inc Benefits Trust14200 Sw Karl Braun Dr, Beaverton, OR 97077-0001OR1981-10$39,420,399
11Daimler Trucks N A Llc2701 Nw Vaughn St Ste 900, Portland, OR 97210-5376OR1988-10$35,310,270
12Inlandboatmens Union Of The Pacific National Health & Welfare Trust1220 Sw Morrison St Ste 300, Portland, OR 97205-2299OR1988-08$33,618,421
13Plumbing & Pipefitting Industry Health & Welfare Fund Local UnionPO BOX 4148, Portland, OR 97208-4148OR1978-03$32,251,862
14Oregon Processors Employees TrustPO BOX 4148, Portland, OR 97208-4148OR1964-08$24,940,558
15Oregon Bakers Union Trust FundPO BOX 4148, Portland, OR 97208-4148OR1980-01$14,413,100
16Potlatch Employee Benefits TrustPO BOX 3168, Portland, OR 97208-3168OR1990-11$13,794,832
17Western States Local Union Trust Fund Of The Office Employees Inter1220 Sw Morrison St Ste 300, Portland, OR 97205-2299OR1961-05$13,364,012
18Blount Inc Welfare Benefit Tr & Declaration TrustPortland, OR 97269OR$12,604,288
19Daimler Trucks N A Lla2701 Nw Vaughn St Ste 900, Portland, OR 97210-5376OR1993-07$11,976,763
20U A Local Union 290 Gas Distribution Emp Vacation Fund7600 Sw Mohawk St, Tualatin, OR 97062-8121OR1994-03$10,213,217
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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