IBEW LOCAL 102 WELFARE FUND: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: IBEW LOCAL 102 WELFARE FUND (EIN 22-6487222)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-11-06
IRS object ID: 201313109349301066
Schema version: 2012v2.0
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
Form 990
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-11-06T09:32:26-08:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	SHAUGHNESSY GIELLA CPA PC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	420 ROUTE 46 EAST SUITE 4	AddressLine1
City	FAIRFIELD	City
State	NJ	State
ZIP Code	07004	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	226487222	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	IBEW LOCAL 102 WELFARE FUND	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	IBEW	NameControl
Phone	9738871718	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 5355	AddressLine1
City	PARSIPPANY	City
State	NJ	State
ZIP Code	07054	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	BERNARD CORRIGAN	Name
Title	TRUSTEE	Title
Phone	9738871718	Phone
Date Signed	2013-11-06	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	MICHAEL GIELLA	Name
Phone	9738820228	Phone

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-25 16:41:14Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	BERNARD CORRIGAN	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	PO BOX 5355	AddressLine1
City	PARSIPPANY	City
State	NJ	State
ZIP Code	07054	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	64013290	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	N/A	WebSite
Type Of Organization Trust	X	TypeOfOrganizationTrust
Year Formation	1991	YearFormation
State Legal Domicile	NJ	StateLegalDomicile
Activity Or Mission Description	WELFARE FUND - HEALTH/MEDICAL BENEFITS	ActivityOrMissionDescription
Nbr Voting Members Governing Body	8	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	8	NbrIndependentVotingMembers
Total Nbr Employees	0	TotalNbrEmployees
Total Nbr Volunteers	0	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	44402479	ProgramServiceRevenuePriorYear
Program Service Revenue CY	41758167	ProgramServiceRevenueCY
Investment Income Prior Year	3181969	InvestmentIncomePriorYear
Investment Income Current Year	3561948	InvestmentIncomeCurrentYear
Other Revenue Prior Year	1089270	OtherRevenuePriorYear
Other Revenue Current Year	1327715	OtherRevenueCurrentYear
Total Revenue Prior Year	48673718	TotalRevenuePriorYear
Total Revenue Current Year	46647830	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	32927428	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	39814741	BenefitsPaidToMembersCY
Salaries Etc Current Year	0	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	2233922	OtherExpensePriorYear
Other Expenses Current Year	2452425	OtherExpensesCurrentYear
Total Expenses Prior Year	35161350	TotalExpensesPriorYear
Total Expenses Current Year	42267166	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	13512368	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	4380664	RevenuesLessExpensesCY
Total Assets BOY	92539475	TotalAssetsBOY
Total Assets EOY	95876752	TotalAssetsEOY
Total Liabilities BOY	2743049	TotalLiabilitiesBOY
Total Liabilities EOY	1699662	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	89796426	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	94177090	NetAssetsOrFundBalancesEOY
Mission Description	WELFARE FUND - HEALTH/MEDICAL BENEFITS	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	42267166	Expense
Description	PROVIDING HEALTH & MEDICAL BENEFITS TO THE PARTICIPANTS	Description
Total Program Service Expense	42267166	TotalProgramServiceExpense
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	false	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	false	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transaction Related Entity	false	TransactionRelatedEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	62	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	0	NumberOfEmployees
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Quid Pro Quo Contributions	false	QuidProQuoContributions
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOf
Funds To Pay Premiums	false	FundsToPayPremiums
Premiums Paid	false	PremiumsPaid
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	8	NbrVotingGoverningBodyMembers
Number Independent Voting Members	8	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	true	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	false	WhistleblowerPolicy
Document Retention Policy	false	DocumentRetentionPolicy
Compensation Process CEO	false	CompensationProcessCEO
Compensation Process Other	false	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	IE SHAFFER PLAN ADMINISTRATORS	BusinessNameLine1

Field	Value	IRS element (for citing)
Telephone Number	6098836688	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	830 BEAR TAVERN ROAD	AddressLine1
City	WEST TRENTON	City
State	NJ	State
ZIP Code	08628	ZIPCode

Field	Value	IRS element (for citing)
No Listed Persons Compensated	X	NoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (8 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector
JAMES ESTABROOK
TRUSTEE	1.00	X
PATRICK DELLE CAVA
TRUSTEE	1.00	X
GARY PFARR
TRUSTEE	1.00	X
BERNIE CORRIGAN
TRUSTEE	1.00	X
LOUIS VITO
TRUSTEE	1.00	X
BILL ROSSI
TRUSTEE	1.00	X
ROBERT WILLIAMSON III
TRUSTEE	1.00	X
ROBERT RENALDI
TRUSTEE	1.00	X

Field	Value	IRS element (for citing)
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (5 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
HORIZON BC BS
3 PENN PLAZA EAST	NEWARK	NJ	07105	CONTRACT ADMINISTRATOR	649378
DELTA DENTAL
1639 ROUTE 10	PARSIPPANY	NJ	07054	CONTRACT ADMINISTRATOR	144036
FABIAN & BYRN LLC
204 EAGLE ROCK AVE	ROSELAND	NJ	07068	CLAIMS PROCESSING	448264
IE SHAFFER CO
830 BEAR TAVERN ROAD	WEST TRENTON	NJ	08628	THIRD PARTY ADMINISTRATOR	349188
PREMIER HEALYHCARE EXCHANGE INC
2 CROSSROADS DRIVE	BEDMINSTER	NJ	07921	CLAIMS REVIEW	282579

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	5	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (4 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn
EMPLOYER & PARTICIPANT CONTRIBUTIONS	525100	40849209
COBRA & MEDICARE DRUG SUBSIDY	525100	482826
INSURANCE CLAIM	525100	400000
OTHER	525100	26132

Field	Value	IRS element (for citing)
Total Program Service Revenue	41758167	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	2941117	TotalRevenueColumn
Exclusion	$2,941,117	ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

Field	Value	IRS element (for citing)
Securities	17986291	Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Securities	17365460	Securities

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Securities	620831	Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	620831	TotalRevenueColumn
Exclusion	$620,831	ExclusionAmount

Other Revenue Misc OtherRevenueMisc (2 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	ExclusionExclusionAmount	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
UNREALIZED APPRECIATION OF INVESTMENTS	525100	1322154	$1,322,154
REIMBURSED COLLECTION FEES	525100	5561		5561

Field	Value	IRS element (for citing)
Total Other Revenue	1327715	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	46647830	TotalRevenueColumn
Related Or Exempt Function Income	41763728	RelatedOrExemptFunctionIncome
Exclusion	$4,884,102	ExclusionAmount

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	39814741	Total
Program Services	39814741	ProgramServices

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	54055	Total
Program Services	54055	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	28350	Total
Program Services	28350	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	924	Total
Program Services	924	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
ACTUARY	4000	4000
PRINTING & POSTAGE	10963	10963
INVESTMENT ADVISORY	187802	187802
CONTRACT ADMINISTRATOR FEES	1998539	1998539

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	167792	Total
Program Services	167792	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	42267166	Total
Program Services	42267166	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	6177619	BOY
EOY	4867551	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	5068860	BOY
EOY	6014492	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	80942996	BOY
EOY	84544709	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	350000	BOY
EOY	450000	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	92539475	BOY
EOY	95876752	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	2743049	BOY
EOY	1699662	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	2743049	BOY
EOY	1699662	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	89796426	BOY
EOY	94177090	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	89796426	BOY
EOY	94177090	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	92539475	BOY
EOY	95876752	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	4380664	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited

FS Audited Basis FSAuditedBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
Audit Committee	true	AuditCommittee
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Tot Revenue Etc Audited Fincl Stmt	46460028	TotRevenueEtcAuditedFinclStmt
Revenue Subtotal	46460028	RevenueSubtotal
Investment Expenses Not Included	187802	InvestmentExpensesNotIncluded
Revenue Not Rptd On Fin Stmt	187802	RevenueNotRptdOnFinStmt
Total Revenue Per Form990	46647830	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	42479307	TotExpensesEtcAuditedFinclStmt
Other Expenses Included	1796060	OtherExpensesIncluded
Expenses Not Rptd F990	1796060	ExpensesNotRptdF990
Expenses Subtotal	40683247	ExpensesSubtotal
Investment Expenses Not Included2	187802	InvestmentExpensesNotIncluded2
Other Expenses Not Included	1396117	OtherExpensesNotIncluded
Expenses Not Rptd On Fin Stmt	1583919	ExpensesNotRptdOnFinStmt
Total Expenses Per Form990	42267166	TotalExpensesPerForm990

Form990 Schedule D Part XIII Form990ScheduleDPartXIII (2 entries)

IdentifierIdentifier	ExplanationExplanation
Pt XII Line 2d	ACCRUED HEALTH CLAIMS 12/31/11 INCLUDED IN BENEFIT OBLIGATIONS STATEMENT
Pt XII Line 4b	ACCRUED HEALTH CLAIMS 12/31/12 INCLUDED IN BENEFIT OBLIGATIONS STATEMENT

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (11 entries)

IdentifierIdentifier	ExplanationExplanation
Pt VI, Line 3	THE ORGANIZATION UTILIZES THE SERVICES OF I.E. SHAFFER,
	A THIRD PARTY ADMINISTRATOR, AND FABIAN & BYRN, LLC,
	A CLAIMS ADMINISTRATOR.
Pt VI, Line 11b	A COPY OF THE FORM 990 IS PROVIDED TO EACH TRUSTEE AT A MEETING
	PRIOR TO THE FILING DATE, WHERE QUESTIONS THAT A TRUSTEE HAS
	ARE ADDRESSED.
Pt VI, Line 12c	THE ORGANIZATION HAS A REGULARLY SCHEDULED QUARTERLY
	MEETING WHERE IT MONITORS COMPLIANCE WITH THE POLICY.
Pt VI, Line 15a	NO COMPENSATION - EMPLOYEE BENEFIT PLAN
Pt VI, Line 19	THE DOCUMENTS ARE AVAILABLE TO PARTICIPANTS AND THE PUBLIC UPON REQUEST
Form 990, Part IX, Line 24f	COLLECTION FEES - LEGAL 38264. 38264. 0. 0. COLLECTION FEES REIMB-102 PENSION FD 22218. 22218. 0. 0. COLLECTION FEES REIMB-102 SURETY FD 9753. 9753. 0. 0. DISCOUNT CLAIM FEES 43605. 43605. 0. 0. INSURANCE 4912. 4912. 0. 0. PAYROLL AUDIT FEES 49040. 49040. 0. 0.