﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2009v1.7">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2011-01-24T09:10:18-06:00</Timestamp>
    <TaxPeriodEndDate>2010-05-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>ROGOW &amp; LONEY PC</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>3135 S STATE ST SUITE 208</AddressLine1>
        <City>ANN ARBOR</City>
        <State>MI</State>
        <ZIPCode>481081653</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2009-06-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>386141764</EIN>
      <Name>
        <BusinessNameLine1>JOINT BOARD OF TRUSTEES IBEW 252</BusinessNameLine1>
        <BusinessNameLine2>HEALTH AND WELFARE TRUST FUND</BusinessNameLine2>
      </Name>
      <NameControl>JOIN</NameControl>
      <Phone>7346632178</Phone>
      <USAddress>
        <AddressLine1>3135 S STATE ST</AddressLine1>
        <AddressLine2>ROOM/SUITE 105</AddressLine2>
        <City>ANN ARBOR</City>
        <State>MI</State>
        <ZIPCode>481081653</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>KEVIN LADD</Name>
      <Title>BOARD CHAIR</Title>
      <Phone>7346632178</Phone>
      <DateSigned>2010-12-23</DateSigned>
    </Officer>
    <Preparer>
      <Name>NEIL J LONEY</Name>
      <Phone>7347410400</Phone>
      <DatePrepared>2011-01-24</DatePrepared>
    </Preparer>
    <TaxYear>2009</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="4">
    <IRS990 documentId="RetDoc2" referenceDocumentId="RetDoc4">
      <GrossReceipts>23670921</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <Organization501c typeOf501cOrganization="9">X</Organization501c>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1966</YearFormation>
      <StateLegalDomicile>MI</StateLegalDomicile>
      <ActivityOrMissionDescription>PROVIDE HEALTH BENEFITS TO IBEW LOCAL 252 UNION MEMBERS</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>8</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>2</NbrIndependentVotingMembers>
      <TotalNbrEmployees>0</TotalNbrEmployees>
      <TotalNbrVolunteers>8</TotalNbrVolunteers>
      <TotalGrossUBI>0</TotalGrossUBI>
      <ContributionsGrantsCurrentYear>0</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>8910714</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>9695260</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>84096</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>473975</InvestmentIncomeCurrentYear>
      <OtherRevenueCurrentYear>0</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>8994810</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>10169235</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsCY>0</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersPriorYear>6893497</BenefitsPaidToMembersPriorYear>
      <BenefitsPaidToMembersCY>7751256</BenefitsPaidToMembersCY>
      <SalariesEtcCurrentYear>0</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>0</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>1872637</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>2101405</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>8766134</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>9852661</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>228676</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>316574</RevenuesLessExpensesCY>
      <TotalAssetsBOY>7214999</TotalAssetsBOY>
      <TotalAssetsEOY>7908730</TotalAssetsEOY>
      <TotalLiabilitiesBOY>165291</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>191179</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>7049708</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>7717551</NetAssetsOrFundBalancesEOY>
      <MissionDescription>PROVIDE HEALTH BENEFITS TO IBEW LOCAL 252 UNION MEMBERS</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <Expense>7751256</Expense>
      <Description>SELF FUNDED PAYMENTS FOR LOSS OF TIME AND MEDICAL,DENTAL, VISION &amp; PRESCRIPTION BENEFITS. COVERS MEMBERS AND DEPENDENTS. 2266 PERSONS COVERED FOR 5/31/10.</Description>
      <Activity2>
        <Expense>291885</Expense>
        <Description>INSURED COVERAGE FOR LIFE,ACCIDENTAL DEATH FOR MEMBERS ONLY,PLUS STOP-LOSS COVERAGE FOR THE MEDICAL BENEFITS.</Description>
      </Activity2>
      <Activity3>
        <Expense>1143514</Expense>
        <Description>RECIPROCAL PAYMENTS.</Description>
      </Activity3>
      <TotalProgramServiceExpense>9186655</TotalProgramServiceExpense>
      <DescribedIn501C3>false</DescribedIn501C3>
      <ScheduleBRequired>false</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <DonorAdvisedFunds referenceDocumentId="RetDoc1">false</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="RetDoc1">false</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="RetDoc1">false</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="RetDoc1">false</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="RetDoc1">false</TermOrPermanentEndowments>
      <BalanceSheetAmountsReported referenceDocumentId="RetDoc1">true</BalanceSheetAmountsReported>
      <IndependentAuditFinancialStmt referenceDocumentId="RetDoc1">true</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="RetDoc1">false</ConsolidatedAuditFinancialStmt>
      <School>false</School>
      <ForeignOffice>false</ForeignOffice>
      <ForeignActivities>false</ForeignActivities>
      <MoreThan5000KToOrganizations>false</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>false</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>false</ProfessionalFundraising>
      <FundraisingActivities>false</FundraisingActivities>
      <Gaming>false</Gaming>
      <Hospital>false</Hospital>
      <GrantsToOrganizations>false</GrantsToOrganizations>
      <GrantsToIndividuals>false</GrantsToIndividuals>
      <ScheduleJRequired>false</ScheduleJRequired>
      <TaxExemptBonds>false</TaxExemptBonds>
      <LoanToOfficerOrDQP referenceDocumentId="RetDoc3">false</LoanToOfficerOrDQP>
      <GrantToRelatedPerson referenceDocumentId="RetDoc3">false</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization referenceDocumentId="RetDoc3">true</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember referenceDocumentId="RetDoc3">false</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp referenceDocumentId="RetDoc3">false</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions>false</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt>false</DeductibleContributionsOfArt>
      <Terminated>false</Terminated>
      <PartialLiquidation>false</PartialLiquidation>
      <DisregardedEntity>false</DisregardedEntity>
      <RelatedEntity>false</RelatedEntity>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <ActivitiesConductedPartnership>false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>0</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <ComplianceWithBackupWitholding>false</ComplianceWithBackupWitholding>
      <NumberOfEmployees>0</NumberOfEmployees>
      <UnrelatedBusinessIncome>false</UnrelatedBusinessIncome>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <NonDeductibleContributions>false</NonDeductibleContributions>
      <NbrVotingGoverningBodyMembers>8</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>2</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>false</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>false</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>true</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>false</MaterialDiversionOrMisuse>
      <MembersOrStockholders>true</MembersOrStockholders>
      <ElectionOfBoardMembers>true</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>false</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>true</MinutesOfGoverningBody>
      <MinutesOfCommittees>true</MinutesOfCommittees>
      <OfficerMailingAddress>false</OfficerMailingAddress>
      <LocalChapters>false</LocalChapters>
      <Form990ProvidedToGoverningBody>true</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>true</ConflictOfInterestPolicy>
      <AnnualDisclosureCoveredPersons>true</AnnualDisclosureCoveredPersons>
      <RegularMonitoringEnforcement>true</RegularMonitoringEnforcement>
      <WhistleblowerPolicy>true</WhistleblowerPolicy>
      <DocumentRetentionPolicy>true</DocumentRetentionPolicy>
      <CompensationProcessCEO>false</CompensationProcessCEO>
      <CompensationProcessOther>false</CompensationProcessOther>
      <InvestmentInJointVenture>false</InvestmentInJointVenture>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>BANK OF ANN ARBOR</NamePerson>
        <TelephoneNumber>7346631128</TelephoneNumber>
        <AddressUS>
          <AddressLine1>125 S FIFTH</AddressLine1>
          <AddressLine2>125 S FIFTH</AddressLine2>
          <City>ANN ARBOR</City>
          <State>MI</State>
          <ZIPCode>481078009</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <NoListedPersonsCompensated>X</NoListedPersonsCompensated>
      <Form990PartVIISectionA>
        <NamePerson>KEVIN LADD</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>8.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ROBERT TURNER</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>8.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>WILLIAM WHITE</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>8.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ERIC MALEY</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>8.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>GREG STEPHENS</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>8.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>TIMOTHY HUTCHINS</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>8.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JOHN KREGER</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>8.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DAN CERVENAN</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>8.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>false</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>BLUE CROSS BLUE SHIELD OF MICHIGAN</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <DescriptionOfServices>ADMINISTRATION</DescriptionOfServices>
        <Compensation>281467</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>ANN ARBOR BENEFIT ADMINISTRATORS</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>3135 S STATE ST STE 105</AddressLine1>
            <City>ANN ARBOR</City>
            <State>MI</State>
            <ZIPCode>481081653</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>ADMINISTRATION</DescriptionOfServices>
        <Compensation>221067</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>2</NumberOfContractorsGT100K>
      <ProgramServiceRevenue>
        <Description>MEMBERSHIP DUES &amp; ASSESSMENTS</Description>
        <TotalRevenueColumn>9695260</TotalRevenueColumn>
        <ExclusionAmount>9695260</ExclusionAmount>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>9695260</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>298705</TotalRevenueColumn>
        <ExclusionAmount>298705</ExclusionAmount>
      </InvestmentIncome>
      <GrossAmountSalesAssets>
        <Securities>13676956</Securities>
      </GrossAmountSalesAssets>
      <LessCostOthBasisSalesExpenses>
        <Securities>13501686</Securities>
      </LessCostOthBasisSalesExpenses>
      <GainOrLoss>
        <Securities>175270</Securities>
      </GainOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>175270</TotalRevenueColumn>
        <ExclusionAmount>175270</ExclusionAmount>
      </NetGainOrLossInvestments>
      <TotalRevenue>
        <TotalRevenueColumn>10169235</TotalRevenueColumn>
        <ExclusionAmount>10169235</ExclusionAmount>
      </TotalRevenue>
      <BenefitsToMembers>
        <Total>7751256</Total>
        <ProgramServices>7751256</ProgramServices>
      </BenefitsToMembers>
      <FeesForServicesManagement>
        <Total>502534</Total>
        <ManagementAndGeneral>502534</ManagementAndGeneral>
      </FeesForServicesManagement>
      <FeesForServicesLegal>
        <Total>56243</Total>
        <ManagementAndGeneral>56243</ManagementAndGeneral>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>16720</Total>
        <ManagementAndGeneral>16720</ManagementAndGeneral>
      </FeesForServicesAccounting>
      <FeesForServicesInvstMgmntFees>
        <Total>30033</Total>
        <ManagementAndGeneral>30033</ManagementAndGeneral>
      </FeesForServicesInvstMgmntFees>
      <ConferencesMeetings>
        <Total>7639</Total>
        <ManagementAndGeneral>7639</ManagementAndGeneral>
      </ConferencesMeetings>
      <Insurance>
        <Total>7692</Total>
        <ManagementAndGeneral>7692</ManagementAndGeneral>
      </Insurance>
      <OtherExpenses>
        <Description>RECIPROCAL PAYMENTS</Description>
        <Total>1143514</Total>
        <ProgramServices>1143514</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INSURANCE EXPENSES</Description>
        <Total>291885</Total>
        <ProgramServices>291885</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>ACTUARIAL FEE</Description>
        <Total>31762</Total>
        <ManagementAndGeneral>31762</ManagementAndGeneral>
      </OtherExpenses>
      <OtherExpenses>
        <Description>CONSULTING FEE</Description>
        <Total>9483</Total>
        <ManagementAndGeneral>9483</ManagementAndGeneral>
      </OtherExpenses>
      <OtherExpenses>
        <Description>TRANSFER FEES</Description>
        <Total>2137</Total>
        <ManagementAndGeneral>2137</ManagementAndGeneral>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>1763</Total>
        <ManagementAndGeneral>1763</ManagementAndGeneral>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>9852661</Total>
        <ProgramServices>9186655</ProgramServices>
        <ManagementAndGeneral>666006</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </TotalFunctionalExpenses>
      <SavingsAndTempCashInvestments>
        <BOY>558852</BOY>
        <EOY>94163</EOY>
      </SavingsAndTempCashInvestments>
      <AccountsReceivable>
        <BOY>699069</BOY>
        <EOY>905991</EOY>
      </AccountsReceivable>
      <PrepaidExpensesDeferredCharges>
        <BOY>573426</BOY>
        <EOY>1074612</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>252458</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>252458</LandBldgEquipmentAccumDeprec>
      <InvestmentsPubTradedSecurities>
        <BOY>5383652</BOY>
        <EOY>5833964</EOY>
      </InvestmentsPubTradedSecurities>
      <TotalAssets>
        <BOY>7214999</BOY>
        <EOY>7908730</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>165291</BOY>
        <EOY>191179</EOY>
      </AccountsPayableAccruedExpenses>
      <TotalLiabilities>
        <BOY>165291</BOY>
        <EOY>191179</EOY>
      </TotalLiabilities>
      <DoNotFollowSFAS117>X</DoNotFollowSFAS117>
      <CapStckTrstPrinCurrentFunds>
        <BOY>7049708</BOY>
        <EOY>7717551</EOY>
      </CapStckTrstPrinCurrentFunds>
      <TotalNetAssetsFundBalances>
        <BOY>7049708</BOY>
        <EOY>7717551</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>7214999</BOY>
        <EOY>7908730</EOY>
      </TotalLiabNetAssetsFundBalances>
      <MethodOfAccountingOther note="SEE SCH O">X</MethodOfAccountingOther>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleD documentId="RetDoc1">
      <DisclosedOrgsLegalControl>false</DisclosedOrgsLegalControl>
      <DisclosedForCharitablePurposes>false</DisclosedForCharitablePurposes>
      <WrittenPolicyMonitoring>false</WrittenPolicyMonitoring>
      <Sect170hRequirementsSatisfied>false</Sect170hRequirementsSatisfied>
      <SolicitedAssetsForSale>false</SolicitedAssetsForSale>
      <AgentTrusteeEtc>false</AgentTrusteeEtc>
      <IncludedOnFS>false</IncludedOnFS>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <AreRelatedOrgsListedScheduleR>false</AreRelatedOrgsListedScheduleR>
      <Equipment>
        <OtherCostOrOtherBasis>252458</OtherCostOrOtherBasis>
        <Depreciation>252458</Depreciation>
      </Equipment>
      <TotalRevenue>10169235</TotalRevenue>
      <TotalExpenses>9852661</TotalExpenses>
      <ExcessOrDeficitForYear>316574</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>351269</NetUnrealizedGLOnInvestments>
      <TotalAdjustments>351269</TotalAdjustments>
      <ExcessOrDeficitPerFS>667843</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>10520504</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>351269</NetUnrealizedGainsInvestments>
      <RevenueNotRptdF990>351269</RevenueNotRptdF990>
      <RevenueSubtotal>10169235</RevenueSubtotal>
      <TotalRevenuePerForm990>10169235</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>9852661</TotExpensesEtcAuditedFinclStmt>
      <ExpensesSubtotal>9852661</ExpensesSubtotal>
      <TotalExpensesPerForm990>9852661</TotalExpensesPerForm990>
    </IRS990ScheduleD>
    <IRS990ScheduleL documentId="RetDoc3">
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>ROBERT TURNER</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>PARTICIPANT</Relationship>
        <DescriptionOfTransaction>PLAN PARTICIPANT</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>KEVIN LADD</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>PARTICIPANT</Relationship>
        <DescriptionOfTransaction>PLAN PARTICIPANT</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>WILLIAM WHITE</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>PARTICIPANT</Relationship>
        <DescriptionOfTransaction>PLAN PARTICIPANT</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>GREG STEPHAENS</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>PARTICIPANT</Relationship>
        <DescriptionOfTransaction>PLAN PARTICIPANT</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>TIMOTHY HUTCHINS</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>PARTICIPANT</Relationship>
        <DescriptionOfTransaction>PLAN PARTICIPANT</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleO documentId="RetDoc4">
      <GeneralExplanation>
        <Identifier>SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 4</ReturnReference>
        <Explanation>THE PLAN ADOPTED AN AMENDMENT TO BRING IT INTO COMPLIANCE WITH THE MENTAL HEALTH PARITY AND ADDICTION EQUITY ACT OF 2008 - MHPAEA.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CLASSES OF MEMBERS OR STOCKHOLDERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 6</ReturnReference>
        <Explanation>UNION MEMBERS OF INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS 252</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ELECTION OF MEMBERS AND THEIR RIGHTS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 7A</ReturnReference>
        <Explanation>BOARD OF TRUSTEES ARE ELECTED BY THE IBEW 252 UNION MEMBERS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11</ReturnReference>
        <Explanation>THE FORM 990 WAS DISTRIBUTED TO THE MEMBERS OF THE BOARD OF TRUSTEES BEFORE FILING. NO REVIEW WAS CONDUCTED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ENFORCEMENT OF CONFLICTS POLICY</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 12C</ReturnReference>
        <Explanation>THE RELEVANT CONFLICT OF INTEREST POLICY STATES: EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. UNDERSTANDS THE ORGANIZATION IS TAX EXEMPT AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 19</ReturnReference>
        <Explanation>THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC AT THE FUND OFFICE, 3135 S STATE ST., SUITE 105, ANN ARBOR, MI 48108.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ADDITIONAL INFORMATION</Identifier>
        <ReturnReference>SCHEDULE O</ReturnReference>
        <Explanation>FORM 990, PART VI, LINE 15, COMPENSATION: ALL MANAGEMENT OFFICIALS AND OFFICERS OF THE BOARD OF TRUSTEES ARE UNPAID VOLUNTEERS. FORM 990, LINE F - METHOD OF ACCOUNTING ACCRUAL METHOD OF ACCOUNTING EXCEPT THAT NO ESTIMATE HAS BEEN MADE FOR HEALTH AND DISABILITY CLAIMS INCURRED BUT NOT REPORTED TO THE PLAN ADMINISTRATOR.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>