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Construction Industry Laborers Welfare Fund

Not tax-deductible

Bloomington, MNMutual-benefit / member-servingSince 1952Mutual / membership EIN 44-0568755Revenue $86.5M in FY2024

On file with the IRS3001 Metro Dr Ste 500, 55425-1617 · Bloomington, MNTax-exempt since Jun 1954

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Provide health & Welfare benefits

Run by 15 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · 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
3 of 5
filings with a surplus
Average surplus $175K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
2 mo
of spending, in cash
Plus $163.2M in investments, Pt X · Ln 11–13
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.1M
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$86.5M
+24% vs prior year
Spent
$85.2M
Net assets
$182.3M
By yearFY2020–FY2024
Revenue
$86.5M
FY2024▲ +24%
Tap a bar for its year
Revenue by fiscal year
FY2020$59.7M
FY2021$60.9M
FY2022$62.6M
FY2023$69.6M
FY2024$86.5M
Expenses
$85.2M
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$58.6M
FY2021$62.5M
FY2022$63.6M
FY2023$68.7M
FY2024$85.2M
Net assets
$182.3M
FY2024▲ +23%
Tap a bar for its year
Net assets by fiscal year
FY2020$150.9M
FY2021$156.8M
FY2022$135.0M
FY2023$147.8M
FY2024$182.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1954.

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

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Construction Industry Laborers Welfare Fund 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II49 listed

Programs and updates

Offers health and welfare benefits to those in need.

Questions for Construction Industry Laborers Welfare Fund

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The fund provides health and welfare benefits for approximately 7,200 covered participants and their dependents.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$86.5M
Ln 12
Fees for servicesLn 2g$77.1M
Investment incomeLn 3$5.8M
Other incomeLn 4–11$3.7M
Money outPt IX
$85.2M
Ln 25
Owns and owesPt X
$182.3M
net assets · Ln 32
Cash and savingsLn 1–2$15.3M
Total assetsLn 16$188.4M
LiabilitiesLn 26$6.1M
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$77.1M
Investment incomeLn 3$5.8M
Other incomeLn 4–11$3.7M
Gains on assetsLn 7−$256K
Total revenueLn 12$86.5M
Assets in detailPt X, end of year
CashLn 1$3.9M
SavingsLn 2$11.4M
Cash and savings togetherLn 1–2$15.3M
InvestmentsLn 11–13$163.2M
Other assetsLn 15$1.2M
Total assetsLn 16$188.4M
LiabilitiesLn 26$6.1M
Net assetsLn 32$182.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$5.6M$15.3M
InvestmentsLn 11–13$137.3M$163.2M
Total assetsLn 16$150.1M$188.4M
LiabilitiesLn 26$2.3M$6.1M
Net assetsLn 32$147.8M$182.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$77.2M
Management feesLn 11a$1.1M
Legal feesLn 11b$389K
Accounting feesLn 11c$201K
Investment management feesLn 11f$349K
Other fees for servicesLn 11g$3.5M
Office expensesLn 13$20K
Conferences, conventions and meetingsLn 19$27K
InsuranceLn 23$39K
Other expenses (24a–d)Ln 24$2.3M
Total functional expensesLn 25$85.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $86.5M$85.2M$1.4M$182.3M 990 PDF
FY2023 $69.6M$68.7M$967K$147.8M 990 PDF
FY2022 $62.6M$63.6M−$1.0M$135.0M 990 PDF
FY2021 $60.9M$62.5M−$1.6M$156.8M 990 PDF
FY2020 $59.7M$58.6M$1.1M$150.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $86,543,222 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $63,660,642$77,060,194
I-10 Investment incomePrior year $3,700,679$5,821,986
I-11 Other revenuePrior year $2,260,421$3,661,042
I-12 Total revenuePrior year $69,621,742$86,543,222
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $62,020,708$77,198,251
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $6,633,612$7,960,561
I-18 Total expensesPrior year $68,654,320$85,158,812
I-19 Revenue less expensesPrior year $967,422$1,384,410
Part VI · Governance 17 of 17 board members independent, 3 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $86,543,222 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $77,060,194$77,060,194
VIII-3 Investment incomeExcluded from tax $6,078,367$6,078,367
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$256,381−$256,381
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,661,042$3,661,042
VIII-12 Total revenueRelated to mission $80,721,236 · Unrelated business $0 · Excluded from tax $5,821,986$86,543,222
Part IX · Statement of functional expenses $85,158,812 across 10 lines filed
IX-4 Benefits paid to or for members$77,198,251
IX-11a Management fees$1,146,300
IX-11b Legal fees$389,237
IX-11c Accounting fees$201,176
IX-11f Investment management fees$348,630
IX-11g Other fees for services$3,508,950
IX-13 Office expenses$20,003
IX-19 Conferences, conventions and meetings$27,487
IX-23 Insurance$38,552
IX-24 Other expenses (24a–d)$2,280,226
IX-25 Total functional expenses$85,158,812
Part X · Balance sheet $188,435,485 assets, 13 lines filed
Asset lines not itemized here account for $273,919; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $0$3,923,165
X-2 Savings and temporary cash investmentsStart of year $5,615,793$11,375,626
X-4 Accounts receivableStart of year $6,696,993$8,461,210
X-9 Prepaid expenses and deferred chargesStart of year $41,548$41,548
X-11 Publicly traded securitiesStart of year $72,345,703$85,456,119
X-12 Other securitiesStart of year $64,998,759$77,696,187
X-15 Other assetsStart of year $280,726$1,207,711
X-16 Total assetsStart of year $150,103,374$188,435,485
X-17 Accounts payable and accrued expensesStart of year $1,331,566$1,319,978
X-25 Other liabilitiesStart of year $0$3,923,165
X-26 Total liabilitiesStart of year $2,338,242$6,149,844
X-32 Total net assets or fund balancesStart of year $147,765,132$182,285,641
X-33 Total liabilities and net assetsStart of year $150,103,374$188,435,485
Part XI · Reconciliation of net assets $182,285,641 net assets at year end
XI-1 Total revenue$86,543,222
XI-2 Total expenses$85,158,812
XI-3 Revenue less expenses$1,384,410
XI-4 Net assets at start of year$147,765,132
XI-5 Net unrealized gains (losses) on investments$7,283,878
XI-9 Other changes in net assets$25,852,221
XI-10 Net assets at end of year$182,285,641

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

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