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Construction Workers Welfare Fund- 147 FY2022 filing

Not tax-deductible

Hopatcong, NJMutual-benefit / member-servingEIN 13-6101595Revenue $1.7M in FY2022

On file with the IRSsandhogs147.org36 Hopatchung Rd, 07843-1524 · Hopatcong, NJTax-exempt since Oct 1964

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To provide medical and other benefits to eligible participants and their dependents.

Mission: Form 990 Part I, line 1

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $515K a year · 27% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
14 mo
of spending, in cash
Looks good: 13.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11K
0.5% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 6 voting members
Fine: 3 of 6 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
+212% vs prior year
Spent
$963K
Net assets
$2.2M
By yearFY2020–FY2024
Revenue
$1.7M
FY2022▲ +212%
Tap a bar for its year
Revenue by fiscal year
FY2020$583K
FY2021$554K
FY2022$1.7M
FY2023$2.7M
FY2024$3.8M
Expenses
$963K
FY2022▲ +58%
Tap a bar for its year
Expenses by fiscal year
FY2020$465K
FY2021$611K
FY2022$963K
FY2023$2.1M
FY2024$2.7M
Net assets
$2.2M
FY2022▲ +38%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.6M
FY2021$1.6M
FY2022$2.2M
FY2023$2.9M
FY2024$4.0M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1964.

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
John Ryan
Union Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Robert Wessels
Employer Trustee
$0Pt VII · Sec A
Mark Rosen
Employer Trustee
$0Pt VII · Sec A
Joseph Ferrara
Employer Trustee
$0Pt VII · Sec A
See Construction Workers Welfare Fund- 147 executive salaries →

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers medical care and other benefits to eligible participants and their families.

Questions for Construction Workers Welfare Fund- 147

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Provided by the organization

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1 program · in their own filed words · FY2022
01

The fund provides medical, vacation and other benefits to eligible participants and their dependents which are funded by participating employers which make contributions based on hours worked.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$1.7M
Ln 12
Fees for servicesLn 2g$1.7M
Investment incomeLn 3$26K
Money outPt IX
$963K
Ln 25
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$2.2M
LiabilitiesLn 26$11K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.7M
Investment incomeLn 3$26K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$1.1M
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$862K
Total assetsLn 16$2.2M
LiabilitiesLn 26$11K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 519
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$549K$1.1M
InvestmentsLn 11–13$1.0M$862K
Total assetsLn 16$1.6M$2.2M
LiabilitiesLn 26$6K$11K
Net assetsLn 32$1.6M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$874K
Management feesLn 11a$38K
Legal feesLn 11b$24K
Accounting feesLn 11c$14K
Investment management feesLn 11f$484
InsuranceLn 23$11K
Other expenses (24a–d)Ln 24$1K
Total functional expensesLn 25$963K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.8M$2.7M$1.1M$4.0M 990 PDF
FY2023 $2.7M$2.1M$656K$2.9M 990 PDF
FY2022 Viewing $1.7M$963K$765K$2.2M 990 PDF
FY2021 $554K$611K−$56K$1.6M 990 PDF
FY2020 $583K$465K$117K$1.6M 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 FY2022 990 (6 parts)
Part I · Summary $1,728,395 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $539,354$1,702,445
I-10 Investment incomePrior year $15,047$25,950
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $554,401$1,728,395
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $521,280$874,313
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $89,243$88,756
I-18 Total expensesPrior year $610,523$963,069
I-19 Revenue less expensesPrior year −$56,122$765,326
Part VI · Governance 3 of 6 board members independent, 5 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $1,728,395 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,702,445$1,702,445
VIII-3 Investment incomeExcluded from tax $25,950$25,950
VIII-12 Total revenueRelated to mission $1,702,445 · Unrelated business $0 · Excluded from tax $25,950$1,728,395
Part IX · Statement of functional expenses $963,069 across 7 lines filed
IX-4 Benefits paid to or for members$874,313
IX-11a Management fees$37,500
IX-11b Legal fees$24,000
IX-11c Accounting fees$14,000
IX-11f Investment management fees$484
IX-23 Insurance$11,370
IX-24 Other expenses (24a–d)$1,402
IX-25 Total functional expenses$963,069
Part X · Balance sheet $2,192,912 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $548,719$1,107,322
X-4 Accounts receivableStart of year $34,166$222,971
X-9 Prepaid expenses and deferred chargesStart of year $1,469$1,013
X-12 Other securitiesStart of year $1,005,360$861,606
X-16 Total assetsStart of year $1,589,714$2,192,912
X-17 Accounts payable and accrued expensesStart of year $5,670$11,373
X-26 Total liabilitiesStart of year $5,670$11,373
X-32 Total net assets or fund balancesStart of year $1,584,044$2,181,539
X-33 Total liabilities and net assetsStart of year $1,589,714$2,192,912
Part XI · Reconciliation of net assets $2,181,539 net assets at year end
XI-1 Total revenue$1,728,395
XI-2 Total expenses$963,069
XI-3 Revenue less expenses$765,326
XI-4 Net assets at start of year$1,584,044
XI-5 Net unrealized gains (losses) on investments−$167,831
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,181,539

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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