2025-11-13T12:11:13-08:00 2024-12-31 451621265 TED SOILEAU CPA LLC 429 GOVERNMENT ST FL 2 BATON ROUGE LA 70802 990 2024-01-01 720455641 INSULATORS LOCAL NO 53 WELFARE FUND INSU 5044689654 2001 VETERANS BLVD 201 KENNER LA 70062 KRISTOPHER COMEAUX Chairman 2025-11-13 true true Ted A Soileau P00852991 2257667910 2024 2025-03-06 01:10:19Z 2001 VETERANS BLVD 201 KENNER LA 70062 2056370 false X N/A X 1953 LA THE 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. 4 4 1 4 0 0 1459845 1705107 285377 351263 0 1745222 2056370 0 1071508 1539233 26602 27655 0 0 271451 391640 1369561 1958528 375661 97842 8227715 8361159 1053714 1064549 7174001 7296610 X THE 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. false false 122917 STOP LOSS INSURANCE COVERAGE 73134 THE FUND PROVIDES A PRESCRIPTION DRUG CARD TO ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS. 9864 THE FUND PROVIDES MAJOR MEDICAL BENEFITS FOR HOSPITAL, DOCTOR, LAB AND DIAGNOSTIC HEALTH CARE TO ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS. 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 $9,864 IS FOR GROUP TERM LIFE INSURANCE ONLY. 205915 false false false false false false false false false false true false false true true false false false false false false false false false false false false false false false false false false false false false false false false false true true true false true 2 0 true 1 false false false false false false false false false X 4 4 false true false false true true false true true false false true true true true true true true false false X RYAN BORDELON 5044689654 2001 VETERANS BLVD 201 KENNER LA 70062 X RYAN BORDELON EXECUTIVE DIRECTOR 1.00 0.00 17136 0 8718 SCOTT MCLEAN Trustee 1.00 0.00 X 0 0 0 DAVID SCHUBER Trustee 1.00 0.00 X 0 0 0 CARL WILSON Trustee 1.00 0.00 X 0 0 0 KRISTOPHER COMEAUX Chairman 1.00 0.00 X 0 0 0 17136 8718 0 false false false BLUE CROSS BLUE SHIELD PO BOX 261798 BATON ROUGE LA 70826 CLAIMS PROCESSING 60416 0 0 EMPLOYER CONTRIBUTIONS 525100 1212786 1212786 MEMBER CONTRIBUTIONS 525100 55148 55148 RECIPROCAL TRANSFERS 525100 113447 113447 STOP LOSS REIMBURSEMENTS 525100 323726 323726 1705107 351263 351263 0 0 0 0 0 0 0 0 2056370 1705107 351263 0 0 0 1539233 1539233 17136 17136 0 0 6522 6522 2574 2574 1423 1423 230115 230115 20357 20357 25702 25702 0 0 29100 29100 51422 51422 0 7006 7006 0 0 4903 4903 0 0 8732 8732 0 0 0 4727 4727 GROUP VISION SERVICE FEES 7477 7477 GOVERNMENT FEES 2099 2099 0 1958528 1854249 104279 0 66494 351836 0 0 112556 114357 0 0 0 0 0 0 0 8048665 7894966 0 0 0 8227715 8361159 1053714 1064549 1053714 1064549 X 7174001 7296610 7174001 7296610 8227715 8361159 97842 24767 X false true X true false 7894966 MEDICAL BENEFIT OBLIGATIONS 1064000 PAYROLL LIABILITIES 549 1064549 X 2052037 24767 24767 2027270 29100 29100 2056370 1929428 1929428 29100 29100 1958528 Part X : FIN48 Footnote ACCOUNTING 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, 2024, NO UNCERTAIN TAX POSITIONS WERE DETERMINED TO EXIST. Form 990, Part VI, Section B, Line 11b THE 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 19 A 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 SERVICES OTHER 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 35b OUT 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 MA A 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 C THE 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 PROC THE 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 SHAREHOLDER THE 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. BODY THE 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 5 UNREALIZED GAIN ON INVESTMENT ASSETS HELD AT 12/31/2024 TOTALED $24,767. 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