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Construction Workers' Trust Fund FY2021 filing

Not tax-deductible

Columbia, MDMutual-benefit / member-servingSince 1952Mutual / membership EIN 52-6037528Revenue $10.8M in FY2021Latest return filed Jul 29, 2026

On file with the IRSColumbia, MDTax-exempt since Jan 1954

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Providing health benefits to union members

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 52-6037528) · Dispute this line
Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
The IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $336K a year · 3% of revenue · last 6 filings
A surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
5.1 mo
of spending, in cash
Plus $15.9M in investments, Pt X · Ln 11–13
5.1 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$105K
0.5% of total assets
Liabilities are 0.5% of assets.
Pt X · Ln 26
Independent board members
0
of 8 voting members
None of 8 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$10.8M
+2% vs prior year
Spent
$10.0M
Net assets
$21.1M
By yearFY2020–FY2025
Revenue
$10.8M
FY2021▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$10.6M
FY2021$10.8M
FY2022$9.9M
FY2023$11.7M
FY2024$10.8M
FY2025$10.8M
Expenses
$10.0M
FY2021▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$10.7M
FY2021$10.0M
FY2022$11.8M
FY2023$11.8M
FY2024$10.5M
FY2025$11.8M
Net assets
$21.1M
FY2021▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$19.9M
FY2021$21.1M
FY2022$16.9M
FY2023$16.9M
FY2024$18.6M
FY2025$17.4M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

990 PDF Follow Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1954.

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Julio Palomo
Chairman
$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 Workers' Trust Fund executive salaries →

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

Programs and updates

Construction Workers' Trust Fund is a member-serving organization based in Columbia, MD, formed in 1952.

Questions for Construction Workers' Trust Fund

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1 program · in their own filed words · FY2020
01

Provides medical, disability and life insurance benefits to eligible members and dependents.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 52-6037528) · Dispute this line
Pt IX · Ln 25 · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$10.8M
Ln 12
Fees for servicesLn 2g$10.4M
Other incomeLn 4–11$244K
Investment incomeLn 3$205K
Money outPt IX
$10.0M
Ln 25
Owns and owesPt X
$21.1M
net assets · Ln 32
Cash and savingsLn 1–2$4.3M
Total assetsLn 16$21.2M
LiabilitiesLn 26$105K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$10.4M
Investment incomeLn 3$205K
Other incomeLn 4–11$244K
Gains on assetsLn 7$244K
Total revenueLn 12$10.8M
Assets in detailPt X, end of year
CashLn 1$3.1M
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$4.3M
Accounts receivableLn 4$1.0M
InvestmentsLn 11–13$15.9M
Total assetsLn 16$21.2M
LiabilitiesLn 26$105K
Net assetsLn 32$21.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
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 FY21End FY21
Cash and savingsLn 1–2$5.6M$4.3M
InvestmentsLn 11–13$12.5M$15.9M
Total assetsLn 16$20.1M$21.2M
LiabilitiesLn 26$143K$105K
Net assetsLn 32$19.9M$21.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$9.2M
Management feesLn 11a$294K
Legal feesLn 11b$161K
Accounting feesLn 11c$16K
Investment management feesLn 11f$6K
Other fees for servicesLn 11g$24K
Office expensesLn 13$15K
TravelLn 17$400
Conferences, conventions and meetingsLn 19$2K
InsuranceLn 23$142K
Other expenses (24a–d)Ln 24$121K
Total functional expensesLn 25$10.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jul 29, 2026 $10.8M$11.8M−$976K$17.4M 990 PDF
FY2024Filed with the IRS Jul 31, 2025 $10.8M$10.5M$210K$18.6M 990 PDF
FY2023Filed with the IRS Jul 31, 2024 $11.7M$11.8M−$73K$16.9M 990 PDF
FY2022Filed with the IRS Aug 1, 2023 $9.9M$11.8M−$1.9M$16.9M 990 PDF
FY2021 ViewingFiled with the IRS Aug 4, 2022 $10.8M$10.0M$809K$21.1M 990 PDF
FY2020Filed with the IRS Jul 28, 2021 $10.6M$10.7M−$96K$19.9M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2021 990
Part I · Summary $10,829,672 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $10,212,409$10,380,778
I-10 Investment incomePrior year $290,719$448,894
I-11 Other revenuePrior year $84,375$0
I-12 Total revenuePrior year $10,587,503$10,829,672
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $9,788,361$9,240,877
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $894,947$779,587
I-18 Total expensesPrior year $10,683,308$10,020,464
I-19 Revenue less expensesPrior year −$95,805$809,208
Part VI · Governance 0 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members0
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $10,829,672 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,380,778$10,380,778
VIII-3 Investment incomeExcluded from tax $205,021$205,021
VIII-7 Net gain or loss on sales of assetsExcluded from tax $243,873$243,873
VIII-12 Total revenueRelated to mission $10,380,778 · Unrelated business $0 · Excluded from tax $448,894$10,829,672
Part IX · Statement of functional expenses $10,020,464 across 11 lines filed
IX-4 Benefits paid to or for members$9,240,877
IX-11a Management fees$293,735
IX-11b Legal fees$160,516
IX-11c Accounting fees$15,760
IX-11f Investment management fees$5,684
IX-11g Other fees for services$24,030
IX-13 Office expenses$15,116
IX-17 Travel$400
IX-19 Conferences, conventions and meetings$1,625
IX-23 Insurance$141,712
IX-24 Other expenses (24a–d)$121,009
IX-25 Total functional expenses$10,020,464
Part X · Balance sheet $21,214,729 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,182,724$3,085,179
X-2 Savings and temporary cash investmentsStart of year $4,405,714$1,199,181
X-4 Accounts receivableStart of year $2,026,187$1,042,984
X-11 Publicly traded securitiesStart of year $12,459,594$15,887,385
X-16 Total assetsStart of year $20,074,219$21,214,729
X-17 Accounts payable and accrued expensesStart of year $56,569$104,644
X-25 Other liabilitiesStart of year $86,495$0
X-26 Total liabilitiesStart of year $143,064$104,644
X-29 Capital stock or trust principalStart of year $19,931,155$21,110,085
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $0$0
X-32 Total net assets or fund balancesStart of year $19,931,155$21,110,085
X-33 Total liabilities and net assetsStart of year $20,074,219$21,214,729
Part XI · Reconciliation of net assets $21,110,085 net assets at year end
XI-1 Total revenue$10,829,672
XI-2 Total expenses$10,020,464
XI-3 Revenue less expenses$809,208
XI-4 Net assets at start of year$19,931,155
XI-5 Net unrealized gains (losses) on investments$369,722
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$21,110,085

Form 990 e-file FY2021 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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