Mid-South Iron Workers Welfare Fund: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization: Mid-South Iron Workers Welfare Fund (EIN 73-6104291)
Tax period: 2010-12-01 to 2011-11-30
Filed: 2012-07-13
IRS object ID: 201221959349301062
Schema version: 2010v3.7
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 J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2012-07-13T15:51:46-05:00	Timestamp
Tax Period End Date	2011-11-30	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	NEEDLES & ASSOCIATES INC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	350 INTERLOCKEN BLVD STE 220	AddressLine1
City	BROOMFIELD	City
State	CO	State
ZIP Code	80021	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2010-12-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	736104291	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	MID-SOUTH IRON WORKERS WELFARE FUND	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	MID-	NameControl
Phone	4056822323	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1300 S MERIDIAN STREET	AddressLine1
City	OKLAHOMA CITY	City
State	OK	State
ZIP Code	73108	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	HARVEY SWIFT	Name
Title	CO CHAIRMAN	Title
Phone	4056822323	Phone
Date Signed	2012-07-13	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	KURT NEEDLES	Name
Phone	3034304225	Phone
Date Prepared	2012-07-13	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2010	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Gross Receipts	4667987	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Type Of Organization Other	X	TypeOfOrganizationOther
Type Of Org Other Description	H & W FUND	TypeOfOrgOtherDescription
Year Formation	1964	YearFormation
State Legal Domicile	OK	StateLegalDomicile
Activity Or Mission Description	TO PROVIDE HEALTH BENEFITS TO PARTICIPANTS AND THEIR DEPENDENTS.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	5	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	5	NbrIndependentVotingMembers
Total Nbr Employees	0	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	2044267	ProgramServiceRevenuePriorYear
Program Service Revenue CY	2879611	ProgramServiceRevenueCY
Investment Income Prior Year	116919	InvestmentIncomePriorYear
Investment Income Current Year	171183	InvestmentIncomeCurrentYear
Other Revenue Prior Year	53608	OtherRevenuePriorYear
Other Revenue Current Year	84396	OtherRevenueCurrentYear
Total Revenue Prior Year	2214794	TotalRevenuePriorYear
Total Revenue Current Year	3135190	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	2635234	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	2033220	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	508130	OtherExpensePriorYear
Other Expenses Current Year	756469	OtherExpensesCurrentYear
Total Expenses Prior Year	3143364	TotalExpensesPriorYear
Total Expenses Current Year	2789689	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-928570	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	345501	RevenuesLessExpensesCY
Total Assets BOY	4333452	TotalAssetsBOY
Total Assets EOY	4520852	TotalAssetsEOY
Total Liabilities BOY	1466265	TotalLiabilitiesBOY
Total Liabilities EOY	1370423	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	2867187	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	3150429	NetAssetsOrFundBalancesEOY
Info In Schedule O Part III	X	InfoInScheduleOPartIII
Mission Description	TO PROVIDE HEALTH BENEFITS TO PARTICIPANTS AND THEIR DEPENDENTS.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	2033220	Expense
Description	MEDICAL BENEFITS PAID ON PARTICIPANTS' BEHALF, INSURANCE PREMIUMS FOR MEDICAL BENEFITS AND CHANGE IN LIABILITIES.	Description

Activity Other ActivityOther

Field	Value	IRS element (for citing)
Expense	756469	Expense
Description	MEDICAL BENEFITS PAID ON PARTICIPANTS' BEHALF, INSURANCE PREMIUMS FOR MEDICAL BENEFITS AND CHANGE IN LIABILITIES.	Description

Field	Value	IRS element (for citing)
Total Of Other Program Service Exp	756469	TotalOfOtherProgramServiceExp
Total Program Service Expense	2789689	TotalProgramServiceExpense
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
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	true	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	true	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
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	0	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	false	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
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	5	NbrVotingGoverningBodyMembers
Number Independent Voting Members	5	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	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	true	WhistleblowerPolicy
Document Retention Policy	true	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

Field	Value	IRS element (for citing)
Name Person	BOARD OF TRUSTEES	NamePerson
Telephone Number	4056822323	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	1300S MERIDIAN STREET	AddressLine1
Address Line2	SUITE 200	AddressLine2
City	OKLAHOMA CITY	City
State	OK	State
ZIP Code	73108	ZIPCode

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

Form990 Part VII Section A Form990PartVIISectionA (6 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	FormerFormer
HARVEY SWIFT
CO CHAIRMAN	1.00	X	0	0	0
TOM LAMBERT
CHAIRMAN	1.00	X	0	0	0
IVAN B WILLIAMS
TRUSTEE	1.00	X	0	0	0
WALTER R ASHFORD
TRUSTEE	1.00	X	0	0	0
JOHN DRESHER
TRUSTEE	1.00	X	0	0	0
JOHN HUNTER
TRUSTEE	1.00		0	0	0	X

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

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	ZENITH AMERICAN SOLUTIONS	BusinessNameLine1
Business Name Line2	ZENITH AMERICAN SOLUTIONS	BusinessNameLine2

Address Of Contractor AddressOfContractor

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	1300 S MERIDIAN STREET	AddressLine1
Address Line2	1300 S MERIDIAN STREET	AddressLine2
City	OKLAHOMA CITY	City
State	OK	State
ZIP Code	73108	ZIPCode

Field	Value	IRS element (for citing)
Description Of Services	ADMINISTRATION	DescriptionOfServices
Compensation	132156	Compensation

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	1	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (4 entries)

DescriptionDescription	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
EMPLOYER CONTRIBUTIONS	2627863	2627863
EMPLOYEE CONTRIBUTIONS - RETI	125268	125268
EMPLOYER CONTRIB. - RECIP IN	96263	96263
EMPLOYEE CONTRIBUTIONS - COBR	30217	30217

Field	Value	IRS element (for citing)
Total Program Service Revenue	2879611	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	85063	TotalRevenueColumn
Exclusion	$85,063	ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

Field	Value	IRS element (for citing)
Securities	1618917	Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Securities	1532797	Securities

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Securities	86120	Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	86120	TotalRevenueColumn
Related Or Exempt Function Income	86120	RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc (3 entries)

DescriptionDescription	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
SAV-RX REBATE	43707	43707
COBRA SUBSIDY REIM	22373	22373
STOP LOSS INCOME	15347	15347

Miscellaneous Revenue MiscellaneousRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	2969	TotalRevenueColumn
Related Or Exempt Function Income	2969	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	84396	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	3135190	TotalRevenueColumn
Related Or Exempt Function Income	3050127	RelatedOrExemptFunctionIncome
Exclusion	$85,063	ExclusionAmount

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	2033220	Total
Program Services	2033220	ProgramServices

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	132004	Total
Program Services	132004	ProgramServices

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	37910	Total
Program Services	37910	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	18973	Total
Program Services	18973	ProgramServices

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	10250	Total
Program Services	10250	ProgramServices

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	347	Total
Program Services	347	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	9875	Total
Program Services	9875	ProgramServices

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
EMPLOYER CONTRIB - RECIP	411455	411455
BLUE CROSS/BLUE SHIELD FE	93629	93629
CONSULTANT FEE	41907	41907
SAV-RX ADMIN FEES	119	119

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	2789689	Total
Program Services	2789689	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	675041	BOY
EOY	595999	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	982664	BOY
EOY	2122476	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	315988	BOY
EOY	468998	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	2359759	BOY
EOY	1333379	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	4333452	BOY
EOY	4520852	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	171265	BOY
EOY	263423	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	1295000	BOY
EOY	1107000	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	1466265	BOY
EOY	1370423	EOY

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

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	2867187	BOY
EOY	3150429	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	2867187	BOY
EOY	3150429	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	4333452	BOY
EOY	4520852	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	345501	ReconcilationRevenueExpenses
Reconcilation Other Changes	-62259	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited
Audit Committee	true	AuditCommittee
Financial Statement Consolidated	X	FinancialStatementConsolidated

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Disclosed Orgs Legal Control	false	DisclosedOrgsLegalControl
Disclosed For Charitable Purposes	false	DisclosedForCharitablePurposes
Written Policy Monitoring	false	WrittenPolicyMonitoring
Sect170h Requirements Satisfied	false	Sect170hRequirementsSatisfied
Solicited Assets For Sale	false	SolicitedAssetsForSale
Agent Trustee Etc	false	AgentTrusteeEtc
Included On FS	false	IncludedOnFS
Endowments Held By Unrelated Orgs	false	EndowmentsHeldByUnrelatedOrgs
Endowments Held By Related Orgs	false	EndowmentsHeldByRelatedOrgs
Are Related Orgs Listed Schedule R	false	AreRelatedOrgsListedScheduleR

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescription	AmountAmount
HOUR BANK LIABILITY	$757,000
CLAIMS INCURRED BUT NOT REPOR	$350,000

Field	Value	IRS element (for citing)
Total Of Amounts	1107000	TotalOfAmounts
Total Revenue	3135190	TotalRevenue
Total Expenses	2789689	TotalExpenses
Excess Or Deficit For Year	345501	ExcessOrDeficitForYear
Net Unrealized GL On Investments	-62259	NetUnrealizedGLOnInvestments
Total Adjustments	-62259	TotalAdjustments
Excess Or Deficit Per FS	283242	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	3072931	TotRevenueEtcAuditedFinclStmt
Net Unrealized Gains Investments	-62259	NetUnrealizedGainsInvestments
Revenue Not Rptd F990	-62259	RevenueNotRptdF990
Revenue Subtotal	3135190	RevenueSubtotal
Total Revenue Per Form990	3135190	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	2789689	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	2789689	ExpensesSubtotal
Total Expenses Per Form990	2789689	TotalExpensesPerForm990

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Severance Payment	false	SeverancePayment
Supplemental Nonqual Retire Plan	false	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	false	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII

Field	Value	IRS element (for citing)
Name Person	JOHN HUNTER	NamePerson

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (4 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
ALL OTHER ACHIEVEMENTS DESCRIPTION	FORM 990, PAGE 2, PART III, LINE 4D	MEDICAL BENEFITS PAID ON PARTICIPANTS' BEHALF, INSURANCE PREMIUMS FOR MEDICAL BENEFITS AND CHANGE IN LIABILITIES.
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990	FORM 990, PAGE 6, PART VI, LINE 11B	A COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF TRUSTEES FOR THEIR REVIEW.
ENFORCEMENT OF CONFLICTS POLICY	FORM 990, PAGE 6, PART VI, LINE 12C	TRUSTEES DISCUSS THE ENFORCEMENT OF CONFLICTS POLICY DURING BOARD OF TRUSTEE OR COMMITTEE MEETINGS.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION	FORM 990, PAGE 6, PART VI, LINE 19	ALL GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.