2015-07-30T09:40:02-07:00 2014-09-30 990 2013-10-01 130891035 JOINT INDUSTRY BOARD OF THE ELECTRICAL INDUSTRY JOIN 7185912000 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 Dr Gerald Finkel Chairman, Joint Industry Board 7185912000 2015-07-29 2013 2016-04-25 22:37:26Z Dr Gerald Finkel 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 169902372 0 X WWW.JIBEI.ORG X 1943 NY To supervise and administer various benefit plans under collective bargaining agreements and the related agreements and working rules. X 30 0 278 30 0 0 0 0 12917099 5877256 685139 722193 30924525 32226542 44526763 38825991 0 0 4605641 1840000 28612050 31466129 0 0 0 23605155 10923778 56822846 44229907 -12296083 -5403916 85816554 65590643 47695252 32393502 38121302 33197141 X To supervise and administer various benefit plans under the terms of the collective bargaining agreements and the related agreements and working rules. The Board also owns 100 percent of its subsidiaries, JIB Realty Corporation, JIB Services and JIB Catering Inc. JIB Realty owns and operates a shopping center facility in Queens, NY. JIB Catering was established to provide support for various approved events. JIB Services is a professional employer organization (PEO) registered with the NY State Department of Labor that employs all of the individuals working for JIB Medical, P.C. All employees of JIB Services are leased by JIB Medical. The Board is the sole member of JIB Services. 0 1 0 0 0 To supervise and administer various benefit plans under the terms of the collective bargaining agreements and the related agreements and working rules. 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 1 123 0 1 278 1 0 0 0 0 0 0 X 30 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 NY X Joint Industry Board of the Electrical Industry 7185912000 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 Hal Sokoloff Trustee 1 1 X 0 0 0 Barry Katzen Trustee 1 1 X 0 0 0 Thomas Carlucci Trustee 1 1 X 0 0 0 Stephen Gianotti Trustee 1 1 X 0 0 0 Rudy Weissberg Trustee 1 1 X 0 0 0 Richard Kleinknecht Trustee 1 1 X 0 0 0 Steven Lazzaro Trustee 1 1 X 0 0 0 Ciro Lupo Trustee 1 1 X 0 0 0 Carol Kleinberg Trustee 1 1 X 0 0 0 David Pinter Trustee 1 1 X 0 0 0 John Pinto Trustee 1 1 X 0 0 0 David I Samuels Trustee 1 1 X 0 0 0 Gary Segal Trustee 1 1 X 0 0 0 Benjamin Arana Trustee 1 1 X 0 0 0 Christopher Erikson Trustee 1 1 X 0 0 0 William Hofving Trustee 1 1 X 0 0 0 John E Marchell Trustee 1 1 X 0 0 0 Vincent McElroen Trustee 1 1 X 0 0 0 Raymond Melville Trustee 1 1 X 0 0 0 Robert Olenick Trustee 1 1 X 0 0 0 Luis Restrepo Trustee 1 1 X 0 0 0 Paul Ryan Trustee 1 1 X 0 0 0 Jospeh Santigate Trustee 1 1 X 0 0 0 Michael Whalen Trustee 1 1 X 0 0 0 Lance Van Arsdale Trustee 1 1 X 0 0 0 Elliot Hecht Trustee 1 1 X 0 0 0 Louis Sciara Trustee 1 1 X 0 0 0 James Bua Trustee 1 1 X 0 0 0 Riccardo Rollins Trustee 1 1 X 0 0 0 Gina Addeo Trustee 1 1 X 0 0 0 Alexander Samilenko Trustee 1 1 X 0 0 0 Sandra Milad-Gibson Trustee 1 1 X 0 0 0 Dr Gerald Finkel Chairman 30 10 X 194751 64917 0 Vito Mundo Legal Counsel 40 0 X 302067 0 0 Mark Chanzis Director of Administration 40 0 X 259876 0 0 Jean L'Allier Director Electrical Employers Self Insurance Safety Plan 40 0 X 216585 0 0 Nicholas Papapietro Investment Director 40 0 X 208583 0 0 Steve Butman Director of Information Technology 40 0 X 205892 0 0 Robert Ball Investment Director 40 0 X 218068 0 0 Chris Sessa Legal Counsel 40 0 X 192758 0 0 1798580 64917 0 47 0 1 0 0 0 Employers' contributions 230000 5877256 5877256 0 0 0 0 0 0 5877256 808387 808387 0 0 0 0 0 0 0 0 0 0 0 0 130990187 0 131076381 0 -86194 0 -86194 -86194 0 0 Administrative and recordkeeping fees 230000 31434153 31434153 0 0 NEBF Service Fee 230000 50061 50061 0 0 Other income 230000 742328 742328 0 0 0 0 0 0 32226542 38825991 38825991 0 0 1840000 756694 19761050 1975315 7450403 1522667 282777 895300 70547 339865 907139 1426440 1402745 405654 213374 Pension and deferred comp costs 2428038 Transfer to apprentice training program 1324000 Misc expenses 1227899 44229907 0 0 0 12104926 16257963 1039334 194800 2505378 1328329 1050517 1177049 67406799 45066532 4214978 2894299 85816554 65590643 768675 1875987 18650668 20879910 28275909 9637605 47695252 32393502 X 38121302 33197141 0 0 0 0 38121302 33197141 85816554 65590643 X -5403916 144057 0 0 0 335698 X X 0 1 X 1 0 0 1 X 0 0 0 0 0 0 0 931314 0 720653 210661 1062388 0 362659 699729 511676 0 245017 266659 1177049 0 Unallocated contributions and other 7436191 Compensated absences payable 1179033 Deferred Comp payable 183000 Due to affiliates 839381 9637605 X Schedule D, Part IV, Line 2b The Board has segregated contributions designated for the Wage and Benefit Fund. The Participating Employers contribute different amounts (based on the Agreements) of their weekly standard gross wages to the Wage and Benefit Fund. The Wage and Benefit Fund amounts are held by the Board to pay uncollectible employer and employee contribution receivables once approved for release. Accordingly, the designated assets and respective liability are disclosed under "wage and benefit fund account" on the accompanying consolidated financial statements. Schedule D, Part X, Line 2 Management evaluated all of the Board's tax positions for all open tax years and has concluded that the Board has taken no uncertain tax positions that require adjustment to the financial statements. Generally the Board is no longer subject to income tax examinations by U.S. federal, state or local tax authorities for years before 2011, which is the standard statute of limitations look-back period. 0 1 0 Vito Mundo Legal Counsel 302067 0 0 0 0 0 0 0 0 0 302067 0 0 Dr Gerald Finkel Chairman 194751 64917 0 0 0 0 0 0 0 0 194751 64917 0 Mark Chanzis Director of Administration 259876 0 0 0 0 0 0 0 0 0 259876 0 0 Jean L'Allier Director Electrical Employers Self Insurance Safety Plan 216585 0 0 0 0 0 0 0 0 0 216585 0 0 0 Nicholas Papapietro Investment Director 208583 0 0 0 0 0 0 0 0 0 208583 0 0 0 Steve Butman Director of Information Technology 205892 0 0 0 0 0 0 0 0 0 205892 0 0 0 Robert Ball Investment Director 218068 0 0 0 0 0 0 0 0 0 218068 0 0 Chris Sessa Legal Counsel 192758 0 0 0 0 0 0 0 0 0 192758 0 0 0 Schedule J, Part I, Line 4 Subsequent to Sept 30, 2008, the Board enacted a Top Hat Supplemental Executive Retirement Plan for two key executives to provide future retirement and death benefits. The SERP was terminated during the plan year ended Sept 30 ,20111. The Board agreed to replace this plan by making contributions for these two key executives as allowed by Section 457(b) of the Internal Revenue Code under the newly established Joint Industry Board Eligible Deferred Compensation Plan. These contributions, along with additional discretionary contributions made to the JIB Employees' 401 Plan, are intended to provide an actuarially equivalent benefit to those previously offered under the SERP. Under the new funding arrangement, deferred compensation payable was $183,000 as of September 30 ,2014. The Board agreed to establish a separate trust for the apprnetice training program under the provisions of ERISA. As of September 30 ,2013, the Board recorded $16,020,723 as an apprentice training program liability on the consolidated statements of financial position and a transfer to apprentice training program trust of $16,020,723 on the consolidated statements of activities to reflect the then-upcoming transfer. The separate trust was established on April 28, 2014. For the period of October 1, 2013 to April 28, 2014, a change of $1,324,000 in net assets was applicable to the apprentice training program. As a result, a total of $17,344,723 in apprentice net assets were transferred to the new trust during the 2014 year. 2014-04-28 17344723 See above for detail. 611735214 Electrical Industry Apprentice Training Program 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 501(c)(9) 1 0 0 0 Schedule N, Part II, Line 2 Some Trustees of the Board also became Trustees of the Apprentice Training Program. Form 990, Part III, Line 3 The Board agreed to establish a separate trust for the apprnetice training program under the provisions of ERISA. As of September 30 ,2013, the Board recorded $16,020,723 as an apprentice training program liability on the consolidated statements of financial position and a transfer to apprentice training program trust of $16,020,723 on the consolidated statements of activities to reflect the then-upcoming transfer. The separate trust was established on April 28, 2014. For the period of October 1, 2013 to April 28, 2014, a change of $1,324,000 in net assets was applicable to the apprentice training program. As a result, a total of $17,344,723 in apprentice net assets were transferred to the new trust during the 2014 year. Form 990, Part VI, Section B, Line 11b The Board's Trustees approve all financial statement information included in the Form 990 (The September 30 ,2014 audited financial statements were approved by the Trustees). In addiiton, all significant transactions are approved by the Board's Trustees. Form 990, Part VI, Section B, Line 12c JIB management discusses with the Board its fidiuicary responsibilities including following the Board's policies. Form 990, Part VI, Section C, Line 19 The Board makes its governing documents aviailable to all of its members. This is communicated in various manners (Internal and external websites, etc.) Form 990, Part XI, Line 5 The Board's unrealized gain for the 2013 fiscal year. Form 990, Part XI, Line 9 The Board's financial statements are prepared on a consolidated basis. This amount represents the overall activities for JIB Realty. JIB Realty is 100 percent wholly owned by the Board. Form 990, Part XII, Line 2c The Finance Committeee evaluated and recommended our independent accountants to the Board. JIB Services LLC 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 464861345 It is PEO that employs all of the individuals working for JIB Medical, P.C NY 0 99940 N/A Dental Benefit Fund of the Electrical Industry 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 112585905 To provide dental benefits to eligible members NY 501(c)(9) N/A 0 The Electrical Industry Group Life Fund 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 131884504 Proivde group term life insurance coverage for eligible members. NY 501(c)(9) N/A 0 Educational and Cultural Trust Fund of the Electrical Industry 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 116035960 Provide educational and cultural benefits to members of the electrical industry NY 501(c)(5) N/A 1 E and C Property Holdings 1 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 392068169 To hold title to real estate used by the Educational and Cultural Trust Fund NY 501(c)(2) N/A 0 E and C Property Holdings 2 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 271107280 To hold title to real estate used by the Educational and Cultural Trust Fund NY 501(c)(2) N/A 0 E and C Property Holdings South 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 800400043 To hold title to real estate used by the Educational and Cultural Trust Fund NY 501(c)(2) N/A 0 Additional Security Benefits Plan 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 112212659 Provide additiona lsecurity benefits to members NY 501(c)(9) N/A 0 Pension Hospitalization and Benefits Plan of the Electrical Industry 158 11 Harry Van Arsdale Jr Avenue Flushing NY 11365 130891045 Provide medical and other benefits to members of the electrical industry NY 501(c)(9) N/A 0 Dental Benefit Plan of the Elevator Industry 158-11 Harry Vam Arsdale Jr Avenue Flushing NY 11365 115219005 Provide dental benefits to eligible members NY 501(c)(9) N/A 0 Legal Services Plan of the Electrcial Industry 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 112871178 To provide legal services benefits to eligible members NY 501(c)(9) N/A 0 Clothing and Tools Plan of the Electrical Industry 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 113105790 Provide clothing and tools reimbursement to eligible members NY 501(c)(5) N/A 0 The Electrical Industry Scholarship Fund Inc 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 061687979 Provide scholarships to eligible individuals NY 501(c)(3) N/A 0 Real Estate Fund 158-11 Harry Van arsdale Jr Avenue Flushing NY 11365 800580089 Provide benefits to eligible members NY 501(c)(5) N/A 0 Electrical Employers Self Insurance Safety Plan 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 510151311 Provide workmans compensation and disability benefits to eligible members NY 501(c)(9) N/A 0 Vacation Holiday Unemployement Plan of the Electrical Industry 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 131853892 Provide benefits to eligible members NY 501(c)(9) N/A 0 Health Reimbursement Account of the Electrical Industry 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 562489386 Proivde additional benefits to eligible members NY 501(c)(9) N/A 0 Employees Security Fund of the Electrical Products Industries 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 136100908 Provide medical and other benefits to eligible members. NY 501(c)(9) N/A 0 Electrical Industry Apprentice Training Program 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 611735214 To provide apprentice trianing for eligible members NY 501(c)(9) N/A N/A 0 Annuity Plan of the Electrical Industry 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 136123600 To provide annuity benefits to eligible union members NY 401(a) N/A N/A 0 Pension Hospitalization and Benefit Plan of the Electrical Industry Pension Trust 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 136123601 To provide pension benefits to eligible union members NY 401(a) N/A N/A 0 Harry Van Arsdale Jr Memorial Association Inc 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 112803482 Educate and promote educational activities for Harry Van Arsdale NY 501(c)(3) PC N/A 0 Employees Securities Fund of the Electrical Products Industries Pension Plan 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 136100907 To provide pension benefits to eligible union members NY 401(a) N/A N/A 0 Deferred Salary Plan of the Electrical Industry 158-11 Harry Van Arsdale Jr Avenue Flushing NY 11365 112656063 To provide 401k and other benefits to eligible union members NY 401(a) N/A N/A 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 Educational and Cultural Trust Fund of the Electrical Industry k 1402745 The premises occupied by the Board are leased from the E&C Fund. Total rent expense recorded in the JIB 2014 fiscal year consolidated financial statements was $1,402,745. Pension Hospitalization and Benefits Plan of the Electrical Industry l 31434153 It is the policy of the Board to allocate certain administrative and recordkeeping costs to the various benefit plans it administers, in addition to the cost and payroll and related payroll benefits directly attributable to each plan. In computing these allocated costs, various factors were considered including the volume of transactions relating to each plan in relation to the other plans administered by the Board, the total assets of the Plans and transactions with affilliates. Administrative record-keeping costs are billed to the affiliates on a monthly basis. The $31,434,153 represents the amounts received and earned by the Board for the period of October 1, 2013 to September 30 ,2014. Pension Hospitalization and Benefits Plan of the Electrical Industry m 0 See letter L for detail. Pension Hospitalization and Benefits Plan of the Electrical Industry n 0 See letter L for detail. Pension Hospitalization and Benefits Plan of the Electrical Industry p 0 See letter L for detail. Pension Hospitalization and Benefits Plan of the Electrical Industry o 0 See letter L for detail. Electrical Industry Apprentice Training Program r 1324000 The Board agreed to establish a separate trust for the apprentice training program under the provisions of ERISA. As of September 30 ,2013, the Board recorded $16,020,723 as an apprentice training program liability on the consolidated statements of financial position and a transfer to apprentice training program trust of $16,020,723 on the consolidated statements of activities to reflect the then-upcoming transfer. The separate trust was established on April 28, 2014. For the period of October 1, 2013 to April 28, 2014, a change of $1,324,000 in net assets was applicable to the apprentice training program. As a result, a total of $17,344,723 in apprentice net assets were transferred to the new trust during the 2014 year. Pension Hospitalization and Benefits Plan of the Electrical Industry q 0 See letter L for detail. Pension Hospitalization and Benefits Plan of the Electrical Industry s 0 See letter L for detail.