2021-11-15T14:59:34-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 915 HIGHLAND POINTE DR SUITE 300 ROSEVILLE CA 95678 990 2020-01-01 356967427 WESTERN REGIONAL EMPLOYEE WELFARE BENEFITS TRUST WEST 2095219771 PO BOX 3191 MODESTO CA 953533191 JEFFREY R REED TRUSTEE TRUSTEE 2095219771 2021-11-02 1 JEFFREY REED TRUSTEE 999009999 CRYSTAL COLEMAN P00823057 9167847800 2021-11-02 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JEFFREY R REED 928 12TH ST SUITE 700 MODESTO CA 95354 5850916 0 X NONE X 2012 CA PROVIDE HEALTH, DISABILITY AND LIFE INSURANCE BENEFITS TO EMPLOYEES AND FAMILY MEMBERS. 3 0 0 0 0 0 0 0 5172980 5850916 0 0 0 0 5172980 5850916 0 0 4912753 5482844 0 0 0 0 0 301477 430353 5214230 5913197 -41250 -62281 1554505 1525351 310414 343541 1244091 1181810 PROVIDE HEALTH, DISABILITY AND LIFE INSURANCE BENEFITS TO THE EMPLOYEES, SPOUSES OF EMPLOYEES, AND DEPENDENTS OF EMPLOYEES OF BASIC RESOURCES, INC. AND SUBSIDIARIES. 0 0 PROVIDED MEDICAL BENEFITS TO EMPLOYEES, SPOUSES OF EMPLOYEES, AND DEPENDENTS OF EMPLOYEES, AS APPLICABLE. PROVIDED LIFE INSURANCE BENEFITS TO EMPLOYEES, SPOUSES OF EMPLOYEES, AND DEPENDENTS OF EMPLOYEES, AS APPLICABLE. PROVIDED LONG TERM DISABILITY BENEFITS TO EMPLOYEES, SPOUSES OF EMPLOYEES, AND DEPENDENTS OF EMPLOYEES, AS APPLICABLE. 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 3 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 CA X AARON DO 2095219771 PO BOX 3191 MODESTO CA 953533191 JEFFREY REED CHAIRMAN 1.00 40.00 X X 0 417950 34302 CASEY RAZMA DIRECTOR 1.00 40.00 X 0 327633 40866 MARGARET REED DIRECTOR 1.00 40.00 X 0 220827 23442 0 966410 98610 0 0 1 0 0 EMPLOYER CONTRIBUTIONS 525100 4391174 4391174 EMPLOYEE CONTRIBUTIONS 525100 1459742 1459742 5850916 5850916 5850916 0 0 5482844 37799 ADMINISTRATION EXPENSES 392554 5913197 110091 563108 1231056 740567 213358 221676 1554505 1525351 310414 343541 310414 343541 X 1244091 1181810 1244091 1181810 1554505 1525351 -62281 0 X X 0 1 X 1 0 0 PREPAID DEPOSIT 221676 221676 X 5850916 0 5850916 0 5850916 5880070 -33127 -33127 5913197 0 5913197 PART X, LINE 2: THE TRUST ESTABLISHED UNDER THE PLAN TO HOLD THE PLAN'S ASSETS RECEIVED AN EXEMPTION LETTER FROM THE IRS DATED JUNE 30, 2014, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE. HOWEVER, AS A RESULT OF THE PLAN'S FUNDING POLICY, FROM TIME TO TIME THE TRUST MAY BE SUBJECT TO INCOME TAXES. NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED IN 2020 AND 2019 FOR UNRELATED BUSINESS TAXABLE INCOME. IN ADDITION, THE PLAN AND THE TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THAT THE RELATED TRUST IS TAX-EXEMPT. THE TRUST ESTABLISHED UNDER THE PLAN TO HOLD THE PLAN'S ASSETS RECEIVED AN EXEMPTION LETTER FROM THE IRS DATED JUNE 30, 2014, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE. HOWEVER, AS A RESULT OF THE PLAN'S FUNDING POLICY, FROM TIME TO TIME THE TRUST MAY BE SUBJECT TO INCOME TAXES. NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED IN 2020 AND 2019 FOR UNRELATED BUSINESS TAXABLE INCOME. IN ADDITION, THE PLAN AND THE TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THAT THE RELATED TRUST IS TAX-EXEMPT. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATIONS BY THE IRS. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2020 AND 2019, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN CLAIMS INCURRED BUT NOT REPORTED 4,688. CHANGE IN INSURANCE PREMIUMS PAYABLE -37,815. 0 0 0 JEFFREY REED CHAIRMAN 0 350950 0 67000 0 0 0 25029 0 9273 0 452252 0 0 CASEY RAZMA DIRECTOR 0 260633 0 67000 0 0 0 19610 0 21256 0 368499 0 0 MARGARET REED DIRECTOR 0 153827 0 67000 0 0 0 13202 0 10240 0 244269 0 0 FORM 990, PART VI, SECTION A, LINE 8B THERE WERE NO COMMITTEES WITH AUTHORIY TO ACT ON BEHALF OF THE GOVERNING BODY IN 2020. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 AND ALL APPLICABLE SCHEDULES AND STATEMENTS, HEREAFTER REFERRED TO COLLECTIVELY AS "FORM 990", WERE PROVIDED TO THE TRUSTEES. THE TRUSTEES REVIEWED FORM 990 FOR ACCURACY AND COMPLETENESS. ANY QUESTIONS THAT AROSE FROM THE TRUSTEE'S REVIEWS WERE ADDRESSED AND/OR RESOLVED, AS APPLICABLE, PRIOR TO FILING FORM 990. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT ITS OFFICE. THE ORGANIZATION WILL MAKE AVAILABLE THROUGH ELECTRONIC MEANS SUCH DOCUMENTS UPON REQUEST. FORM 990, PART XII, LINE 2(C): THE TRUST HAD NO CHANGE IN ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. BASIC RESOURCES INC PO BOX 3191 MODESTO CA 95353 942208599 CONTRACTING 0 BASIC RESOURCES PROPERTIES INC PO BOX 3191 MODESTO CA 95353 770570194 REAL ESTATE 0 GEORGE REED INC PO BOX 3191 MODESTO CA 95353 941531193 CONTRACTING 0 BLACK DIAMOND AGGREGATES INC PO BOX 3191 MODESTO CA 95353 770546173 HANDLING 0 711 MATERIALS INC PO BOX 3191 MODESTO CA 95353 942261762 MANUFACTURING 0 REED INTERNATIONAL INC PO BOX 3191 MODESTO CA 95353 942199163 MANUFACTURING 0 VSS INTERNATIONAL INC PO BOX 3191 MODESTO CA 95353 942270766 MAINTENANCE 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 BASIC RESOURCES INC S 584066 CASH TRANSFERED GEORGE REED INC S 902343 CASH TRANSFERED 711 MATERIALS INC S 1187029 CASH TRANSFERED REED INTERNATIONAL INC S 290772 CASH TRANSFERED VSS INTERNATIONAL INC S 2124509 CASH TRANSFERED