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INSULATORS LOCAL NO 53 WELFARE FUND: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
INSULATORS LOCAL NO 53 WELFARE FUND (EIN 72-0455641)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-12
IRS object ID
202413179349303436
Schema version
2023v5.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-11-12T09:13:12-08:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN451621265PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1TED SOILEAU CPA LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1429 GOVERNMENT ST FL 2AddressLine1Txt
CityBATON ROUGECityNm
State AbbreviationLAStateAbbreviationCd
ZIP70802ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN720455641EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1INSULATORS LOCAL NO 53 WELFARE FUNDBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlINSUBusinessNameControlTxt
Phone5044689654PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12001 VETERANS BLVD 201AddressLine1Txt
CityKENNERCityNm
State AbbreviationLAStateAbbreviationCd
ZIP70062ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonKRISTOPHER COMEAUXPersonNm
Person TitleChairmanPersonTitleTxt
Signature2024-11-12SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonTed A SoileauPreparerPersonNm
PTINP00852991PTIN
Phone2257667910PhoneNum
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990 IRS990

US Address USAddress

FieldValueIRS element (for citing)
Address Line12001 VETERANS BLVD 201AddressLine1Txt
CityKENNERCityNm
State AbbreviationLAStateAbbreviationCd
ZIP70062ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$1,745,222GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressN/AWebsiteAddressTxt
Type Of Organization TrustYes (X)TypeOfOrganizationTrustInd
Formation1953FormationYr
Legal Domicile StateLALegalDomicileStateCd
Activity Or MissionTHE FUND RECEIVES CONTRIBUTIONS FROM PARTICIPATING CONTRACTORS/ MEMBERS WHO EMPLOY MEMBERS OF THE UNION. CONTRIBUTIONS ARE RECEIVED ON EACH COVERED HOUR WORKED. THESE FUNDS ARE USED TO PROVIDE HEALTH INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS.ActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent4VotingMembersIndependentCnt
Total Employee1TotalEmployeeCnt
Total Volunteers4TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$2,454,931PYProgramServiceRevenueAmt
CY Program Service Revenue$1,459,845CYProgramServiceRevenueAmt
PY Investment Income$280,245PYInvestmentIncomeAmt
CY Investment Income$285,377CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$2,735,176PYTotalRevenueAmt
CY Total Revenue$1,745,222CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$1,242,726PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$1,071,508CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$26,910PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$26,602CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$355,523PYOtherExpensesAmt
CY Other Expenses$271,451CYOtherExpensesAmt
PY Total Expenses$1,625,159PYTotalExpensesAmt
CY Total Expenses$1,369,561CYTotalExpensesAmt
PY Revenues Less Expenses$1,110,017PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$375,661CYRevenuesLessExpensesAmt
Total Assets BOY$7,764,522TotalAssetsBOYAmt
Total Assets EOY$8,227,715TotalAssetsEOYAmt
Total Liabilities BOY$1,180,683TotalLiabilitiesBOYAmt
Total Liabilities EOY$1,053,714TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$6,583,839NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$7,174,001NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE FUND RECEIVES CONTRIBUTIONS FROM PARTICIPATING CONTRACTORS/ MEMBERS WHO EMPLOY MEMBERS OF THE UNION. CONTRIBUTIONS ARE RECEIVED ON EACH COVERED HOUR WORKED. THESE FUNDS ARE USED TO PROVIDE HEALTH INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$276,723ExpenseAmt
DescTHE FUND PROVIDES A PRESCRIPTION DRUG CARD TO ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$143,105ExpenseAmt
DescSTOP LOSS INSURANCE COVERAGEDesc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
Expense$11,107ExpenseAmt
DescTHE FUND PROVIDES MAJOR MEDICAL BENEFITS FOR HOSPITAL, DOCTOR, LAB AND DIAGNOSTIC HEALTH CARE TO ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.Desc
FieldValueIRS element (for citing)
Total Program Service Expenses$430,935TotalProgramServiceExpensesAmt
Described In Section501c3falseDescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecYes (true)ReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityYes (true)RelatedEntityInd
Related Organization Ctrl EntYes (true)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (true)TransactionWithControlEntInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document13IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee1EmployeeCnt
Employment Tax Returns FiledfalseEmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member4IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesYes (true)DelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersYes (true)MembersOrStockholdersInd
Election Of Board MembersYes (true)ElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonRYAN BORDELONPersonNm
Phone5044689654PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12001 VETERANS BLVD 201AddressLine1Txt
CityKENNERCityNm
State AbbreviationLAStateAbbreviationCd
ZIP70062ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
SCOTT MCLEAN
Trustee1.000.00Yes (X)$0$0$0
DAVID SCHUBER
Trustee1.000.00Yes (X)$0$0$0
CARL WILSON
Trustee1.000.00Yes (X)$0$0$0
KRISTOPHER COMEAUX
Chairman1.000.00Yes (X)$0$0$0
RYAN BORDELON
EXECUTIVE DIRECTOR1.000.00$0$0$0
FieldValueIRS element (for citing)
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BLUE CROSS BLUE SHIELDBusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 261798AddressLine1Txt
CityBATON ROUGECityNm
State AbbreviationLAStateAbbreviationCd
ZIP70826ZIPCd
FieldValueIRS element (for citing)
ServicesCLAIMS PROCESSINGServicesDesc
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Total Contributions$0TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
EMPLOYER CONTRIBUTIONS525100$1,207,707$1,207,707
MEMBER CONTRIBUTIONS525100$104,023$104,023
RECIPROCAL TRANSFERS525100$148,115$148,115
FieldValueIRS element (for citing)
Total Program Service Revenue$1,459,845TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$285,377TotalRevenueColumnAmt
Exclusion$285,377ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Royalties Revenue RoyaltiesRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Net Income From Gaming NetIncomeFromGamingGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Net Income Or Loss NetIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
FieldValueIRS element (for citing)
Other Revenue Total$0OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,745,222TotalRevenueColumnAmt
Related Or Exempt Func Income$1,459,845RelatedOrExemptFuncIncomeAmt
Exclusion$285,377ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$1,071,508TotalAmt
Program Services$1,071,508ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$16,511TotalAmt
Program Services$16,511ProgramServicesAmt

Comp Disqual Persons CompDisqualPersonsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$6,144TotalAmt
Management And General$6,144ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$2,574TotalAmt
Management And General$2,574ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$1,373TotalAmt
Management And General$1,373ManagementAndGeneralAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$117,155TotalAmt
Program Services$117,155ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$20,006TotalAmt
Program Services$20,006ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$23,468TotalAmt
Management And General$23,468ManagementAndGeneralAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total$0TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$27,653TotalAmt
Program Services$27,653ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$45,801TotalAmt
Management And General$45,801ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$6,785TotalAmt
Management And General$6,785ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Royalties RoyaltiesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$4,903TotalAmt
Management And General$4,903ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$10,928TotalAmt
Program Services$10,928ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Payments To Affiliates PaymentsToAffiliatesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$4,227TotalAmt
Management And General$4,227ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
GROUP VISION SERVICE FEES$8,392$8,392
GOVERNMENT FEES$2,133$2,133

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,369,561TotalAmt
Program Services$1,274,286ProgramServicesAmt
Management And General$95,275ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$277,107BOYAmt
EOY$66,494EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$101,722BOYAmt
EOY$112,556EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$7,385,692BOYAmt
EOY$8,048,665EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$1BOYAmt
EOY$0EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$7,764,522BOYAmt
EOY$8,227,715EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,180,683BOYAmt
EOY$1,053,714EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,180,683BOYAmt
EOY$1,053,714EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$6,583,839BOYAmt
EOY$7,174,001EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$6,583,839BOYAmt
EOY$7,174,001EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$7,764,522BOYAmt
EOY$8,227,715EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$375,661ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$214,501NetUnrlzdGainsLossesInvstAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Securities$8,048,665TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
MEDICAL BENEFIT OBLIGATIONS$1,053,000
PAYROLL LIABILITIES$714
FieldValueIRS element (for citing)
Total Liability$1,053,714TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$1,932,070TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$214,501NetUnrealizedGainsInvstAmt
Revenue Not Reported$214,501RevenueNotReportedAmt
Revenue Subtotal$1,717,569RevenueSubtotalAmt
Investment Expenses Not Incld$27,653InvestmentExpensesNotIncldAmt
Revenue Not Reported Fincl Stmt$27,653RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$1,745,222TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$1,341,908TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal$1,341,908ExpensesSubtotalAmt
Investment Expenses Not Incld2$27,653InvestmentExpensesNotIncld2Amt
Expenses Not Rpt Fincl Stmt$27,653ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$1,369,561TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart X : FIN48 FootnoteFormAndLineReferenceDesc
ExplanationACCOUNTING FOR THE UNCERTAINTY OF TAX POSITIONS CAN IMPACT THE FINANCIAL STATEMENTS. EVEN THOUGH THE FUND IS EXEMPT FROM INCOME TAXES, THE FUND MUST STILL CONSIDER WHETHER ITS EXEMPT INCOME AND OTHER ACTIVITIES OF THE FUND MIGHT BE DETERMINED TO BE UNRELATED BUSINESS INCOME, AND WHETHER THE FUND HAS PROPERLY MAINTAINED ITS TAX EXEMPT STATUS. FASB ASC 740 I.E. FIN 48 , PUBLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD, ADDRESSES THE ISSUE OF ACCOUNTING FOR THE UNCERTAINTY OF MATERIAL TAX POSITIONS IMPACTING THE FINANCIAL STATEMENTS. THE BOARD OF TRUSTEES HAS ADOPTED THE PROVISIONS OF FASB ASC 740 EFFECTIVE DECEMBER 31, 2008. THE ACCOUNTING FOR ALL MATERIAL POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, ON ANY INCOME TAX RETURN IS GOVERNED BY FASB ASC 740. INCOME TAX RETURNS INCLUDE THOSE POSITIONS THAT WERE FILED OR THAT SHOULD HAVE BEEN FILED WITH FEDERAL TAXING AUTHORITIES. IT IS THE BOARD OF TRUSTEES POLICY TO ASSESS ALL MATERIAL POSTIONS TAKEN ON ANY FEDERAL INCOME TAX RETURN. THE BOARD WILL REQUIRE ITS LEGAL AND TAX COUNSEL TO COMMUNICATE TO THEM ALL SUCH UNCERTAIN TAX POSITIONS IN ORDER TO EVALUATE THE IMPACT OF THE TAX POSITION AND THE REPORTING AND DISCLOSURE REQUIRED. THE REQUIREMENT WILL APPLY TO NOT ONLY THE CURRENT REPORTING YEAR BUT ALSO TO ALL PRIOR OPEN REPORTING YEARS THAT COULD STILL BE SUBJECT TO EXAMINATION BY A TAXING AUTHORITY. THE BOARD OF TRUSTEES HAS DETERMINED THAT ANY MATERIAL UNCERTAIN TAX POSITIONS THAT ARE PRESENTED TO THE BOARD OF TRUSTEES WILL BE RECOGNIZED AND MEASURED USING A MORE-LIKELY-THAN-NOT , MLTN THRESHOLD. THE MLTN THRESHOLD MEANS THAT 1. A BENEFIT RELATED TO AN UNCERTAIN TAX POSITION MAY NOT BE RECOGNIZED IN THE FINANCIAL STATEMENTS UNLESS IT IS MLTN THAT THE POSITION WILL BE SUSTAINED BASED ON ITS TECHNICAL MERITS, AND 2. THERE MUST BE MORE THAN A 50 LIKELIHOOD THAT THE POSITION WOULD BE SUSTAINED IF CHALLENGED AND CONSIDERED BY THE HIGHEST COURT IN THE RELEVANT JURISDICTION. MEASUREMENT OF ANY UNCERTAIN TAX POSITION WILL REQUIRE CALCULATING THE CUMULATIVE PROBABILITY OF AN OUTCOME EITHER FOR OR AGAINST THE TAX POSITION. THE TAX BENEFIT OF A QUALIFYING POSITION IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50 LIKELY TO BE REALIZED UPON ULTIMATE SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. INITIAL RECOGNITION OF AN UNCERTAIN TAX POSITION WILL REQUIRE CONTINUED REASSESSMENT OF THE TAX POSITION ON AN ANNUAL BASIS. AS OF EACH YEAR END ANY UNRESOLVED UNCERTAIN TAX POSTIONS MUST BE REASSESSED, AND THE TRUSTEES MUST DETERMINE WHETHER 1. THE FACTORS UNDERLYING THE SUSTAINABILITY ASSERTIONS HAVE CHANGED AND, 2. THE AMOUNT OF THE RECOGNIZED TAX BENEFIT IS STILL APPROPRIATE. DEVELOPMENTS SUCH AS CASE LAW, CHANGES IN TAX LAW, NEW RULINGS OR REGULATIONS ISSUED BY TAXING AUTHORITIES, COULD AFFECT WHETHER A TAX POSITION SHOULD BE RECOGNIZED OR THE AMOUNT THAT SHOULD BE REPORTED. THE FUND WILL BE REQUIRED TO ACCRUE INTEREST AND PENALTIES THAT, UNDER PRESENT TAX LAW, THE FUND WOULD INCUR IF THE UNCERTAIN TAX POSITION ULTIMATELY WERE NOT SUSTAINED. FOR THE YEAR ENDING DECEMBER 31, 2023, NO UNCERTAIN TAX POSITIONS WERE DETERMINED TO EXIST.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (11 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part III, Line 4dOTHER PROGRAM SERVICES 4: THE WELFARE FUND PROVIDES MAJOR MEDICAL HEALTH, PRESCRIPTION AND GROUP TERM LIFE INSURANCE COVERAGE. TOTAL COSTS FOR EACH SERVICE ARE DETAILED HERE IN PART III. THIS FINAL AMOUNT $11,107 IS FOR GROUP TERM LIFE INSURANCE ONLY.
Form 990, Part VI, Section B, Line 11bTHE BOARD OF TRUSTEES RETAINS THE SERVICES OF AN INDEPENDENT PUBLIC ACCOUNTING FIRM TO PREPARE THE ANNUAL IRS FORM 990. THIS FIRM WILL PROVIDE A COPY OF THE COMPLETED FORM 990 TO THE CHAIRMAN OF THE BOARD OF TRUSTEES, THE FUND ADMINISTRATOR, AND THE INDIVIDUAL TRUSTEES OF THE BOARD UPON THEIR REQUEST FOR REVIEW AND APPROVAL.
Form 990, Part VI, Section C, Line 19A SUMMARY ANNUAL REPORT IS PREPARED ANNUALLY BY THE INDEPENDENT CPA FIRM WHO PREPARES THE FORM 990 AS WELL AS THE DOL FORM 5500. THIS SUMMARY ANNUAL REPORT, AS WELL AS THE ANNUAL AUDITED FINANCIAL STATEMENTS AND THE IRS FORM 990, ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. THE SUMMARY ANNUAL REPORT IS MAILED ANNUALLY TO ALL PARTICIPANTS OF THE FUND AND TO ALL PARTICIPATING EMPLOYERS.
FORM 990, PART III, LINE 4D- OTHER SERVICESOTHER ADMINISTRATIVE AND CONSULTING COSTS ARE PROGRAM RELATED. THE FUND RETAINS THE SERVICES OF A THIRD PARTY CONSULTANT TO PROVIDE CONSULTING SERVICES TO THE FUND. PCORIC HEALTH CARE FEE AFFORDABLE CARE ACT RECIPROCAL EMPLOYER CONTRIBUTION TRANSFERS PAYMENTS ARE MADE TO BLUE CROSS BLUE SHIELD INSURANCE COMPANY TO PROVIDE DEATH BENEFITS FOR ELIGIBLE PARTICIPANTS.
FORM 990, PART IV - LINE 35bOUT OF AN ABUNDANCE OF CAUTION, THIS ENTITY HAS A COMMON SET OF BOARD MEMBERS WITH THE INSULATORS LOCAL 53 PENSION FUND, FID 72-0542804. PURSUANT TO THE INSTRUCTIONS OF THE IRS 990, THIS COMMON CONTROL MEETS THE DEFINITION OF A DIRECT CONTROLING ENTITY.
FORM 990, PART VI , LINE 3- DESCRIPTION OF DELEGATED DUTIES TO MAA THIRD PARTY ADMINISTRATOR, SEI PRIVATE TRUST COMPANY, HAS BEEN RETAINED BY THE BOARD OF TRUSTEES TO HANDLE THE INVESTMENT/CUSTODIAN ADMINISTRATIVE DUTIES OF THE FUND. THOSE DUTIES INCLUDE PROCESSING INVESTMENT TRANSACTIONS AND REPORTS, AND VALUING INVESTMENT ASSETS. THE FUND ALSO RETAINS THE SERVICES OF ANOTHER THIRD PARTY ADMINISTRATOR TO PROVIDE CLAIMS MANAGEMENT, PROCESSING AND PAYMENT. THAT COMPANY IS BENEFIT MANAGEMENT SERVICES. THE FUND ALSO RETAINS THE SERVICES OF A THIRD PARTY ADMINISTRATOR TO PROVIDE PRESCRIPTION DRUG MANAGEMENT, PROCESSING AND PAYMENT. THAT COMPANY IS EXPRESS SCRIPTS.
FORM 990, PART VI, LINE 12C-EXPL OF MONITORING ANDENFORCEMENT OF CTHE JOINT BOARD OF TRUSTEES MEETS QUARTERLY TO ADDRESS POLICY ISSUES, PLAN OF BENEFIT CHANGES, INVESTMENT POLICY REVIEW, POLICY DECISIONS, APPEAL OF BENEFITS, REVIEW OF EMPLOYER CONTRIBUTION REPORTS AND DELINQUENCIES, LEGAL COUNSEL REPORTS, AND FUND ADMINISTRATOR REPORTS. DURING THESE MEETINGS ANY ISSUES IMPACTING CONFLICT OF INTEREST OR PROHIBITIVE TRANSACTIONS WILL BE ADDRESSED BY THE JOINT BAORD OF TRUSTEES AND ACTED UPON.
FORM 990, PART VI, LINE 15A - COMPENSATION REVIEW & APPROVAL PROCTHE FULL BOARD OF TRUSTEES MEET TO DISCUSS THE WAGES OF THE EMPLOYEE. THE FULL BOARD OF TRUSTEES VOTE ON THE WAGES FOR THOSE KEY EMPLOYEES.
FORM 990, PART VI, LINE 6-EXPL OF CLASSES OF MEMBERS OR SHAREHOLDERTHE FUND IS MADE UP OF MEMBERS WHO'S ELIGIBILITY IS DETERMINED UNDER THE TERMS OF A COLLECTIVELY BARGAINED AGREEMENT ENTERED INTO BY THEIR RESPECTIVE EMPLOYERS AND ASBESTOS WORKERS LOCAL 53 UNION. THE FUND IS GOVERNED BY A JOINT BOARD OF TRUSTEES CONSISTING OF ELECTED MEMBERS OF THE LOCAL AND APPOINTED REPRESENTATIVES OF THE EMPLOYERS.
FORM 990, PART VI, LINE 7A-HOW MEMBERS OR SHAREHOLDER ELECT GOV. BODYTHE GOVERNING BOARD OF TRUSTEES OPERATE THIS FUND PURSUANT TO THE RULES AND REGULATIONS OF BOTH ERISA AND THE TAFT-HARTLEY ACT WHICH COVER MULTI-EMPLOYER HEALTH & WELFARE FUNDS. THE GOVERNING DOCUMENT IS A TRUST AGREEMENT WHICH PROVIDES FOR THE APPOINTMENT OF EMPLOYER TRUSTEES AS WELL AS THE ELECTION OF UNION TRUSTEES. IT IS THE DUTY OF THIS JOINT BOARD OF TRUSTEES TO OVERSEE OPERATIONS OF THE WELAFRE PLAN, SET POLICIES AND PROCEDURES FOR THE PAYMENT OF MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS WHO ARE COVERED BY A COLLECTIVE BARGAINING AGREEMENT.
FORM 990, PART XI, LINE 5UNREALIZED GAIN ON INVESTMENT ASSETS HELD AT 12/31/2023 TOTALED $214,501.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (5 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtControlled OrganizationControlledOrganizationIndPublic Charity StatusPublicCharityStatusTxt
INSULATORS LOCAL NO 53 PENSION FUND
2001 VETERANS BLVD SUITE 201KENNERLA70062720542804ERISA PENSIONLA501 C9YESYes (true)
AWLU 53 JAC
2001 VETERANS BLVD SUITE 201KENNERLA70062720782786ERISA TRAININGLA501C3NOfalseYES
ASBESTOS WORKERS LOCAL 53
2001 VETERANS BLVD SUITE 201KENNERLA70062720184645SPONSORING ORGLA501 C5NOfalse
INSULATORS LOCAL NO 53 WELFARE FUND
2001 VETERANS BLVD SUITE 201KENNERLA70062720455641ERISA WELFARELA501 C9NOfalse
LOCAL 53 IAF
2001 VETERANS BLVD 200KENNERLA70062720184645SPONSORING ORGANIZATIONLA501 C5NOfalse

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (18 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtEntity TypeEntityTypeTxtControlled OrganizationControlledOrganizationIndEINEIN
ALLTEMP INSULATIONS INC
305 E VIRTUE STCHALMETTELA70043CONTRIBUTINGLANOC CORPfalse
CSI
950 MAHAFFEY RDPORT ALLENLA70767SPONSORING ORGLANOC CORPfalse203931184
DAY & ZIMMERMAN
1500 SPRING GARDEN STPHILADEPHIAPA19130CONTRIBUTINGLANOC CORPfalse
FLOUR CONSTRUCTORS INTERNATIONAL
100 FLUOR DANIEL DRMETAIRIELA70001CONTRIBUTINGLANOC CORPfalse
SCI
23333 HOO SHOO TOO RDBATON ROUGELA70895CONTRIBUTINGLANOC CORPfalse
SOUTHEAST INSULATION INC
11919 SUNRAY AVEBATON ROUGELA70816CONTRIBUTINGLANOC CORPfalse
TAYLOR-SEIDENBACH INC
11919 SUNRAY AVENEW ORLEANSLA70150CONTRIBUTINGLANOC CORPfalse
TURNER INDUSTRIES
8687 UNITED PLAZA RDBATON ROUGELA70809SPONSORINGLANOC CORPfalse550869273
ADVANCED ENERGY PROTECTION LLC
3867 PLAZA TOWER DRBATON ROUGELA70816CONTRIBUTINGLANOC CORPfalse
DAY & ZIMMERMAN - WATERFORD
1500 SPRING GARDEN STREETPHILADELPHIAPA19130CONTRIBUTINGPANOC CORPfalse
EAGLE INSULATIONS SOUTHEAST LLC
3947 LOUISA STREETMETAIRIELA70126CONTRIBUTINGLANOC CORPfalse
GOMEZ CONSTRUCTION & INSULATION LLC
11714 INDUSTRIPLEX BLVDBATON ROUGELA70809CONTRIBUTINGLANOC CORPfalse
TSI
731 S SCOTT STNEW ORLEANSLA70119CONTRIBUTINGLANOC CORPfalse
QUALITY COMMERICAL INSULATION
2216 MAGAZINE STREETNEW ORLEANSLA70130CONTRIBUTINGLANOC CORPfalse
ME&I
8550 UNITED PLAZA BUILDING IIBATON ROUGELA70809CONTRIBUTINGLANOC CORPfalse
BHI
River Bend StreetSt FarncisvilleLA70775CONTRIBUTINGLANOC CORPfalse
FLOUR CONSTRUCTORS INTERNATIONAL
100 FLUOR DANIEL DRGREENVILLESC29607CONTRIBUTING EMPLOYERSCNOC CORPfalse
TURNER INDUSTRIES
8687 UNITED PLAZA BLVDBATON ROUGELA70809CONTRIBUTING EMPLOYERLANOC CORPfalse
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsfalseReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgfalseGiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgfalseGiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgfalseLoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgfalseLoansOrGuaranteesFromOthOrgInd
Div Related OrganizationfalseDivRelatedOrganizationInd
Asset Sale To Other OrgfalseAssetSaleToOtherOrgInd
Asset Purchase From Other OrgfalseAssetPurchaseFromOtherOrgInd
Asset ExchangefalseAssetExchangeInd
Rental Of Facilities To Oth OrgfalseRentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgfalseRentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgYes (true)PerformOfServicesForOthOrgInd
Perform Of Services By Other OrgfalsePerformOfServicesByOtherOrgInd
Sharing Of FacilitiesfalseSharingOfFacilitiesInd
Paid Employees SharingfalsePaidEmployeesSharingInd
Reimbursement Paid To Other OrgfalseReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrgInd
Transfer To Other OrgfalseTransferToOtherOrgInd
Transfer From Other OrgfalseTransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (16 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmtMethod Of Amount DeterminationMethodOfAmountDeterminationTxt
INSULATORS LOCAL NO 53 PENSION FUND
l$6,755COST
AWLU 53 JAC
l$9,890COST
ASBESTOS WORKERS LOCAL 53
l$19,944COST
INSULATORS LOCAL NO 53 WELFARE FUND
l$2,252COST
LOCAL 53 IAF
l$10,327COST
ALLTEMP INSULATIONS INC
l$385,946COST
CSI
l$123,541COST
DAY & ZIMMERMAN
l$76,573COST
FLOUR CONSTRUCTORS INTERNATIONAL
l$25,750COST
SCI
l$75,983COST
SOUTHEAST INSULATION INC
l$28,743COST
TURNER INDUSTRIES
l$253,086COST
DAY & ZIMMERMAN - WATERFORD
l$57,728COST
EAGLE INSULATIONS SOUTHEAST LLC
l$78,644COST
TSI
l$35,489COST
BHI
l$18,241COST