IBEW LOCAL 102 WELFARE FUND: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization: IBEW LOCAL 102 WELFARE FUND (EIN 22-6487222)
Tax period: 2011-01-01 to 2011-12-31
Filed: 2012-10-19
IRS object ID: 201232939349300113
Schema version: 2011v1.2
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	2012-10-19T09:56:22-07:00	Timestamp
Tax Period End Date	2011-12-31	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	2011-01-01	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	2012-10-19	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	2011	TaxYear
Build TS	2016-02-24 21:20:13Z	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	67677300	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	40022598	ProgramServiceRevenuePriorYear
Program Service Revenue CY	44402479	ProgramServiceRevenueCY
Investment Income Prior Year	2700112	InvestmentIncomePriorYear
Investment Income Current Year	3181969	InvestmentIncomeCurrentYear
Other Revenue Prior Year	1048006	OtherRevenuePriorYear
Other Revenue Current Year	1089270	OtherRevenueCurrentYear
Total Revenue Prior Year	43770716	TotalRevenuePriorYear
Total Revenue Current Year	48673718	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	34801401	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	32927428	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	2183354	OtherExpensePriorYear
Other Expenses Current Year	2233922	OtherExpensesCurrentYear
Total Expenses Prior Year	36984755	TotalExpensesPriorYear
Total Expenses Current Year	35161350	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	6785961	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	13512368	RevenuesLessExpensesCY
Total Assets BOY	78501415	TotalAssetsBOY
Total Assets EOY	92539475	TotalAssetsEOY
Total Liabilities BOY	2217357	TotalLiabilitiesBOY
Total Liabilities EOY	2743049	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	76284058	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	89796426	NetAssetsOrFundBalancesEOY
Mission Description	WELFARE FUND - HEALTH/MEDICAL BENEFITS	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	35161350	Expense
Description	PROVIDING HEALTH & MEDICAL BENEFITS TO THE PARTICIPANTS	Description
Total Program Service Expense	35161350	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	38	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	573946
DELTA DENTAL
1639 ROUTE 10	PARSIPPANY	NJ	07054	CONTRACT ADMINISTRATOR	144097
FABIAN & BYRN LLC
204 EAGLE ROCK AVE	ROSELAND	NJ	07068	CLAIMS PROCESSING	443212
IE SHAFFER CO
830 BEAR TAVERN ROAD	WEST TRENTON	NJ	08628	THIRD PARTY ADMINISTRATOR	346970
ENVISION RX
2181 E AURORA RD	TWINSBURG	OH	44087	PHARMACEUTICAL SERVICES	123243

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

Program Service Revenue ProgramServiceRevenue (3 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn
EMPLOYER & PARTICIPANT CONTRIBUTIONS	525100	43196396
COBRA & MEDICARE DRUG SUBSIDY	525100	1204888
OTHER	525100	1195

Field	Value	IRS element (for citing)
Total Program Service Revenue	44402479	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	2669744	TotalRevenueColumn
Exclusion	$2,669,744	ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

Field	Value	IRS element (for citing)
Securities	19515807	Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Securities	19003582	Securities

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Securities	512225	Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	512225	TotalRevenueColumn
Exclusion	$512,225	ExclusionAmount

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	UNREALIZED APPRECIATION OF INVESTMENTS	Description
Business Code	525100	BusinessCode
Total Revenue Column	1089270	TotalRevenueColumn
Exclusion	$1,089,270	ExclusionAmount

Field	Value	IRS element (for citing)
Total Other Revenue	1089270	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	48673718	TotalRevenueColumn
Related Or Exempt Function Income	44402479	RelatedOrExemptFunctionIncome
Exclusion	$4,271,239	ExclusionAmount

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	32927428	Total
Program Services	32927428	ProgramServices

Comp Current Officers Directors CompCurrentOfficersDirectors

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

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	78371	Total
Program Services	78371	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	1425	Total
Program Services	1425	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
ACTUARY	4500	4500
PRINTING & POSTAGE	12411	12411
INVESTMENT ADVISORY	171058	171058
CONTRACT ADMINISTRATOR FEES	1675786	1675786

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	262021	Total
Program Services	262021	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	35161350	Total
Program Services	35161350	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	6209607	BOY
EOY	6177619	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	4528440	BOY
EOY	5068860	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	67413368	BOY
EOY	80942996	EOY

Other Assets Total OtherAssetsTotal

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

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	78501415	BOY
EOY	92539475	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	2217357	BOY
EOY	2743049	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	2217357	BOY
EOY	2743049	EOY

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

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	76284058	BOY
EOY	89796426	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	76284058	BOY
EOY	89796426	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	78501415	BOY
EOY	92539475	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	13512368	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited
Audit Committee	true	AuditCommittee
Financial Statement Separate	X	FinancialStatementSeparate
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Total Revenue	48673718	TotalRevenue
Total Expenses	35161350	TotalExpenses
Excess Or Deficit For Year	13512368	ExcessOrDeficitForYear
Excess Or Deficit Per FS	13512368	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	48502660	TotRevenueEtcAuditedFinclStmt
Revenue Subtotal	48502660	RevenueSubtotal
Investment Expenses Not Included	171058	InvestmentExpensesNotIncluded
Revenue Not Rptd On Fin Stmt	171058	RevenueNotRptdOnFinStmt
Total Revenue Per Form990	48673718	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	34511171	TotExpensesEtcAuditedFinclStmt
Other Expenses Included	1316939	OtherExpensesIncluded
Expenses Not Rptd F990	1316939	ExpensesNotRptdF990
Expenses Subtotal	33194232	ExpensesSubtotal
Investment Expenses Not Included2	171058	InvestmentExpensesNotIncluded2
Other Expenses Not Included	1796060	OtherExpensesNotIncluded
Expenses Not Rptd On Fin Stmt	1967118	ExpensesNotRptdOnFinStmt
Total Expenses Per Form990	35161350	TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)

IdentifierIdentifier	ExplanationExplanation
Pt XIII Line 2d	ACCRUED HEALTH CLAIMS 12/31/10 INCLUDED IN BENEFIT OBLIGATIONS STATEMENT
Pt XIII Line 4b	ACCRUED HEALTH CLAIMS 12/31/11 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 11a	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 15	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 37830. 37830. 0. 0. COLLECTION FEES REIMB-102 PENSION FD 102409. 102409. 0. 0. COLLECTION FEES REIMB-102 SURETY FD 70552. 70552. 0. 0. INSURANCE 4886. 4886. 0. 0. PAYROLL AUDIT FEES 45483. 45483. 0. 0. PRESCRIPTION PRICING AUDIT 861. 861. 0. 0.