Local 282 Welfare Trust Fund: Nonprofit Profile, Financials & Form 990 (EIN 11-6244552)

Revenue by fiscal year
FY2021	$101.7M
FY2022	$103.7M
FY2022	$84.4M
FY2023	$104.7M
FY2024	$128.3M

Expenses by fiscal year
FY2021	$92.6M
FY2022	$104.4M
FY2022	$83.2M
FY2023	$99.9M
FY2024	$136.7M

Net assets by fiscal year
FY2021	$159.2M
FY2022	$157.8M
FY2022	$147.7M
FY2023	$161.4M
FY2024	$154.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1956.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

16 people listed on the 990; $887K paid to officers and key staff.

Part VII, Section A · reportable compensation

Mario Bulding

Fund Manager

$295,886Pt VII · Sec A

Thomas Zultko

Instructor

$157,971Pt VII · Sec A

Hong Ying Li

Controller

$115,162Pt VII · Sec A

Octavia Malone

Pension Clerk

$107,173Pt VII · Sec A

Patrick Shure

Accounts Payable

$107,039Pt VII · Sec A

Ho Y Ho

Payroll Auditor

$103,811Pt VII · Sec A

Michael Bourgal JR

Trustee

$0Pt VII · Sec A

Michael O'Toole

Trustee

$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2022	FY2021
Mario Bulding	$295,886	$272,037	$260,773	$215,867	$248,117
Bruce Levine	—	$140,097	$291,544	$287,668	$288,688
Thomas Zultko	$157,971	$150,417	$143,345	$123,902	$136,223
Timothy Lye	—	$117,664	$129,259	$127,774	$125,970
Hong Ying Li	$115,162	$111,789	—	—	—
Octavia Malone	$107,173	—	—	—	—
Patrick Shure	$107,039	—	—	—	—
Ho Y Ho	$103,811	$103,011	—	—	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides health and welfare benefits to plan participants.

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1 program · in their own filed words · FY2024

01

Provided health, welfare and other benefits to plan participants.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$128.3M

Ln 12

Fees for servicesLn 2g$103.2M

Other incomeLn 4–11$13.2M

Investment incomeLn 3$12.0M

Money outPt IX

$136.7M

Ln 25

Owns and owesPt X

$154.5M

net assets · Ln 32

Cash and savingsLn 1–2$19.0M

Total assetsLn 16$184.7M

LiabilitiesLn 26$30.2M

PeoplePt VI, VII

16

listed · VII A

PaidVII A6

Voting boardVI 1a10

IndependentVI 1b10

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$103.2M

Investment incomeLn 3$12.0M

Other incomeLn 4–11$13.2M

Gains on assetsLn 7$6.7M

Total revenueLn 12$128.3M

Assets in detailPt X, end of year

CashLn 1$10.5M

SavingsLn 2$8.5M

Cash and savings togetherLn 1–2$19.0M

InvestmentsLn 11–13$135.6M

Land, buildings, equipmentLn 10c$82K

Other assetsLn 15$1.1M

Total assetsLn 16$184.7M

LiabilitiesLn 26$30.2M

Net assetsLn 32$154.5M

OperationsPt I, VI

EmployeesI 543

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$17.2M	$19.0M
InvestmentsLn 11–13	$144.6M	$135.6M
Land, buildings, equipmentLn 10c	$72K	$82K
Total assetsLn 16	$182.4M	$184.7M
LiabilitiesLn 26	$21.0M	$30.2M
Net assetsLn 32	$161.4M	$154.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$0
Grants to domestic individualsLn 2	$0
Grants and assistance to foreign recipientsLn 3	$0
Benefits paid to or for membersLn 4	$124.5M
Pay of current officers, directors and key staffLn 5	$435K
Pay of disqualified personsLn 6	$0
Other salaries and wagesLn 7	$2.8M
Pension plan contributionsLn 8	$958K
Other employee benefitsLn 9	$1.1M
Payroll taxesLn 10	$256K
Management feesLn 11a	$0
Legal feesLn 11b	$1.4M
Accounting feesLn 11c	$477K
Lobbying feesLn 11d	$0
Professional fundraising feesLn 11e	$0
Investment management feesLn 11f	$565K
Other fees for servicesLn 11g	$2.9M
Advertising and promotionLn 12	$0
Office expensesLn 13	$398K
Information technologyLn 14	$376K
RoyaltiesLn 15	$0
OccupancyLn 16	$0
TravelLn 17	$11K
Travel and entertainment for public officialsLn 18	$0
Conferences, conventions and meetingsLn 19	$39K
InterestLn 20	$0
Payments to affiliatesLn 21	$0
Depreciation, depletion and amortizationLn 22	$33K
InsuranceLn 23	$313K
Other expenses (24a–d)Ln 24	$157K
All other expensesLn 24e	$0
Total functional expensesLn 25	$136.7M	$0	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$128.3M	$136.7M	−$8.5M	$154.5M	990 PDF
FY2023	$104.7M	$99.9M	$4.8M	$161.4M	990 PDF
FY2022	$103.7M	$104.4M	−$721K	$157.8M	990 PDF
FY2021	$101.7M	$92.6M	$9.1M	$159.2M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2024 990 (6 parts)

Part I · Summary $128,283,405 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $158,959$0

I-9 Program service revenuePrior year $96,386,868$103,159,724

I-10 Investment incomePrior year $3,100,689$11,964,572

I-11 Other revenuePrior year $5,026,056$13,159,109

I-12 Total revenuePrior year $104,672,572$128,283,405

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to membersPrior year $87,929,539$124,531,299

I-15 Salaries and benefitsPrior year $5,572,096$5,570,495

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $6,362,303$6,641,454

I-18 Total expensesPrior year $99,863,938$136,743,248

I-19 Revenue less expensesPrior year $4,808,634−$8,459,843

Part VI · Governance 10 of 10 board members independent, 2 to look at

VI-1a Voting members of the governing body10

VI-1b Independent voting members10

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $128,283,405 across 9 lines filed

Lines not itemized here account for $43,987 of total revenue; see the IRS return.

VIII-1h Total contributions, gifts and grants$0

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $103,159,724$103,159,724

VIII-3 Investment incomeExcluded from tax $5,244,892$5,244,892

VIII-5 Royalties$0

VIII-6 Net rental income or lossExcluded from tax $12,535$12,535

VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,719,680$6,719,680

VIII-8 Net income from fundraising events$0

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $13,102,587$13,102,587

VIII-12 Total revenueRelated to mission $116,306,298 · Excluded from tax $11,977,107$128,283,405

Part IX · Statement of functional expenses $136,743,248 across 31 lines filed

IX-1 Grants to domestic organizations$0

IX-2 Grants to domestic individuals$0

IX-3 Grants and assistance to foreign recipients$0

IX-4 Benefits paid to or for members$124,531,299

IX-5 Pay of current officers, directors and key staff$435,238

IX-6 Pay of disqualified persons$0

IX-7 Other salaries and wages$2,824,703

IX-8 Pension plan contributions$958,169

IX-9 Other employee benefits$1,096,585

IX-10 Payroll taxes$255,800

IX-11a Management fees$0

IX-11b Legal fees$1,405,141

IX-11c Accounting fees$477,252

IX-11d Lobbying fees$0

IX-11e Professional fundraising fees$0

IX-11f Investment management fees$565,040

IX-11g Other fees for services$2,868,009

IX-12 Advertising and promotion$0

IX-13 Office expenses$398,287

IX-14 Information technology$375,512

IX-15 Royalties$0

IX-16 Occupancy$0

IX-17 Travel$10,629

IX-18 Travel and entertainment for public officials$0

IX-19 Conferences, conventions and meetings$38,778

IX-20 Interest$0

IX-21 Payments to affiliates$0

IX-22 Depreciation, depletion and amortization$32,894

IX-23 Insurance$313,075

IX-24 Other expenses (24a–d)$156,837

IX-24e All other expenses$0

IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$136,743,248

Part X · Balance sheet $184,705,462 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $8,060,560$10,509,501

X-2 Savings and temporary cash investmentsStart of year $9,163,826$8,492,675

X-3 Pledges and grants receivable$0

X-4 Accounts receivableStart of year $19,317,608$28,760,303

X-8 Inventories for sale or use$0

X-9 Prepaid expenses and deferred chargesStart of year $190,348$205,575

X-10c Land, buildings and equipment, netStart of year $71,654$81,740

X-11 Publicly traded securitiesStart of year $121,970,901$114,933,420

X-12 Other securitiesStart of year $22,616,380$20,662,248

X-13 Program-related investments$0

X-14 Intangible assets$0

X-15 Other assetsStart of year $990,000$1,060,000

X-16 Total assetsStart of year $182,381,277$184,705,462

X-17 Accounts payable and accrued expensesStart of year $755,295$712,186

X-25 Other liabilitiesStart of year $20,176,212$29,453,609

X-26 Total liabilitiesStart of year $20,952,855$30,165,795

X-32 Total net assets or fund balancesStart of year $161,428,422$154,539,667

X-33 Total liabilities and net assetsStart of year $182,381,277$184,705,462

Part XI · Reconciliation of net assets $154,539,667 net assets at year end

XI-1 Total revenue$128,283,405

XI-2 Total expenses$136,743,248

XI-3 Revenue less expenses−$8,459,843

XI-4 Net assets at start of year$161,428,422

XI-5 Net unrealized gains (losses) on investments$1,571,088

XI-10 Net assets at end of year$154,539,667

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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