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I' •• "

A For the 2006 calendar year or tax year beginning JUL 1 2006 and ending JUN 30 2007

2006

990 Return of Organization Exempt From Income Tax

Form ' Under secllon 501 (c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung

benefit trust or private foundallon)

Department of the Treasury

Internal Revenue Service ~ The organization may have to use a copy of this return to satisfy state reporting requirements

OMB No 1545-0047

Open 10 PUblic _action

, , .
B Check If Please C Name of organization o Employer Identification number
applicable use IRS !NEW YORK CITY DISTRICT COUNCIL OF
OAddress label or ~ARPENTERS VACATION FUND 13-6227443
change pnntor
OName type Number and street (or P.O box if mail is not delivered to street address) I Room/suite E Telephone number
change See
Oiniusl Specific 395 HUDSON STREET 212-366-7300
return
[][I Final Instruc- City or town, state or country, and ZIP + 4 F Accounting rretI1Od: 0 Cash [][I Accrual
return lions
OAmended INEW YORK, NY 10014 Og::'~M~
return
OAPPIIC8tlon • Section 501 (c)(3) organizations and 4947(a)(1) nonexempt charitable trusts H and I are not applIcable to section 527 organIzatIons.
pending
must attach a completed Schedule A (Form 990 Dr 990-EZ). H(a) Is thiS a group return for affiliates? DYes [XJNo
G Website: ~WWW • NYCCBF • COM H(b) If "Yes,' enter number of affiliates ~ N/A
J Organization type (ched<onlyone) ~ [][I 501(c) ( 9 )~ Onsertno) 0 4947(a)(1) or 0527 H(c) Are all affiliates Included? N/A DYes ONo
K Check here ~ 0 lithe crqamzation IS not a 509(a)(3) supporting organization and ItS gross (If 'No,' attach a list)
H(d) Is thiS a separate return filed by an or- 0
receipts are normally not more than $25,000 A return is not reqUIred, but It the organization ganlzatlon covered by a group ruling? Yes [XJNo
chooses to file a return, be sure to file a complete return I Grouo Exemotlon Number ~ N/A
M Check ~ [][I If the organization IS not required to attach
L Gross receipts Add lines 6b, 8b, 9b, and 10b to line 12 ~ 28,751,378. Sch 8 (Form 990, 990-EZ, or 990-PF)
I Part J l Revenue, Expenses, and Changes in Net Assets or Fund Balances
1 contnbunons, giftS, grants, and similar amounts received.
a contnbunons to donor advised funds 1a
b Direct publiC support (not Included on line 1 a) 1b
e Indirect public support (not Included on line la) 1c
d Government contnbunons (grants) (not Included on line la) 1d
e Total (add lines 1a through ld) (cash $ noncash $ ) 1e O.
2 Program service revenue including government fees and contracts (from Part VII, line 93) 2 28, 444 , 985 .
3 Membership dues and assessments 3 O.
4 Interest on savings and temporary cash Investments 4 93,556.
5 DIVidends and Interest from seeunties I 6a I 5 208,239.
6 a Gross rents
b Less rental expenses 6b
411 C Net rental Income or (loss). Subtract line 6b from line 6a 6c
~ 7 Other Investment Income (descnbe ~ ) 7 O.
C
411 IAI secunnes 181 Other
> 8 a Gross amount from sales of assets other
411
a: than mvento ry 8a
b Less cost or other baSIS and sales expenses 8b
I Gain or (loss) (attach schedule) 8c
c
d Net gain or (loss) Combine line 8c, columns (A) and (8) 8d O.
9 SpeCial events and acnvmes (attach schedule) If any amount IS from gaming, CheCk, here i 0
a Gross l\!'oeIIue (notlnciuding S ofcontJibubons repol1l:d on line lb) 9a
b Less direct expenses other than fund raising expenses 9b
c Net Income or (lOSS) from special events Subtract line 9b from line 9a 110a I 9c
10 a Gross sales of Inventory, less returns and allowances
b Less· cost of goods sold .. 10b
c Gross profit or (loss) from sales of Inventory (attach schedule) Subtract line 1 po TrO~EC E IVED 10c O.
11 Other revenue (from Part VII, line 103) . 11 4,598.
12 Total revenue. Add lines 1e 2 3 4 5 6c 7 8d 9c 10c and 11 - Ig 12 28,751,378.
13 Program services (from line 44, column (8)) 1115 APR 1 7 lOOS 0 13 O.
III ~
411 14 Management and general (from line 44, column (C)) I 14 o .
III (J).
c 0::: O.
411 15 Fundrarsmq (from line 44, column (D)) 15
Q. OGDEN. UT ......
)C 16 Payments to affiliates (attach schedule) 16 O.
w
17 Total eXDenses. Add lines 16 and 44 column (A) 17 27,060,835.
18 Excess or (cencit) for the year Subtract line 17 from line 12 18 1,690,543.
III 26,571,637.
-;-; 19 Net assets or fund balances at beginning of year (from line 73, column (A)) . 19
z::l 20 Other changes In net assets or fund balances (attach explanation) SEE STATEMENT 1 20 <28,262,180.
<
21 Net assets orfund balances at end of year Combine lines 18, 19, and 20 21 O. >

623001

01-18-07 LHA For Privacy Act and Paperwork Reduction Act Notice, see the separate Instructions.

1

Form 990 (2006)

NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS VACATION FUND

13-6227443

Pa e2

. ,

All organizations must complete column (A) Columns (B), (C), and (0) are required for section 501 (c)(3) and (4) organizations and section 4947(a)(1) nonexempt charitable trusts but optional for others.

Do not include amounts reported on line (A) Total (8) Program (e) Management (0) Fundralslng
6b, 8b, 9b, 10b, or 16 of Part I. services and general
22a Grants paid from donor advised funds
(attach schedule)
(cash $ o . noncash $ O.
II this amounllncludes foreign grants, check here ~D 22a O.
22b Other grants and allocations (attach schedule
(cash $ o • noncash $ O.
II thiS amounllncludes foreign grants, check here ~ D 22b O.
23 Specific assistance to individuals (attach
schedule) 23 O.
24 Benefits paid to or for members (attach
schedule) STATEMENT 3 24 26,268,712.
25a Compensation of current officers, directors, key
employees, etc listed In Part V-A 25a O.
b cornpensanon of former officers, directors, key
employees, etc listed In Part V-B 25b O.
c cornpensanon and other distributions, not included
above, to disqualified persons (as defined under
section 4958(f)(1)) and persons described In
section 4958(c)(3)(B) 25c O.
26 Salanes and wages of employees not
Included on lines 25a, b, and c 26 179,493.
27 Pension plan contributions not Included on
lines 25a, b, and c 27 49,518.
28 Employee benefits not Included on lines
25a - 27 28 39,568.
29 Payroll taxes 29 12,979.
3D Professional fundralstnq fees 3D O.
31 Accounting fees 31 205.
32 Legal fees 32 114,624.
33 Supplies 33 15,285.
34 Telephone 34 4,625.
35 Postage and shipping 35 16,728.
36 Occupancy 36 78,084.
37 Equipment rental and maintenance 37 8,409.
38 Printing and publications ... 38 9,060.
39 Travel 39 O.
40 Conferences, conventions, and meetings 40 O.
41 Interest 41 O.
42 Depreciation, depletion, etc. (attach schedule) 42 8,413.
43 Other expenses not covered above (itermze):
a 43a
b 43b
c 43c
d 43d
e 43e
f 43f
g SEE STATEMENT 2 43g 255,132.
44 Total functional expenses. Add lines 22a through
43g (Organizations completing columns (B)-(O),
carry these totals to lines 13-15) 44 27,060,835. Joint Costs. Check ~ D If you are following SOP 98-2.

Are any JOint costs from a combined educational campaign and fund raising solicitation reported In (B) Program services? ~ DYes 00 No

If 'Yes: enter (I) the aggregate amount of these Joint costs $ N / A , (II) the amount allocated to Program services $ N / A

---...0...,..---

(III) the amount allocated to Management and general $ N / A ; and (Iv) the amount allocated to Fundraislng $ N / A

2

,',

NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS VACATION FUND

13-6227443

Pa e3

Form 990 IS available for public mspecnon and, for some people, serves as the pnmary or sole source of informatIon about a particular orqantzatton. How the public perceives an organizatIon in such cases may be deterrmned by the mforrnatton presented on Its return. Therefore, please make sure the return IS complete and accurate and fully descnbes, in Part III, the orqaruzatron's programs and accomplishments.

What IS the orqamzatron's pnmary exempt purpose? ~ Program Service
VACATION BENEFITS Expenses
(Required for 501 (c)(3)
All orqaruzanons must descnbe their exempt purpose achIevements In a clear and concise manner. State the number of and (4) orgs • and
clients served. pubhcattons Issued. etc. Discuss achIevements that are not measurable. (Section 501 (c)(3) and (4) 4947(a)(1) trusts; but
orqaruzanons and 494 7 (a)(1 ) nonexempt chantable trusts must also enter the amount of grants and allocations to others.) opnonal for others )
a TO PROVIDE VACATION BENEFITS TO ELIGIBLE PARTICIPANTS UNDER
THE TERMS OF THE PLAN.




(Grants and allocanons $ ) If thIS amount Includes forelgn~ants check here ~ D
b





(Grants and allocattons s ) If thIS amount Includes foreiqn grants check here ~ D
C





(Grants and allocatrons $ ) If this amount Includes foreran grants check here ~ [ ]
d





(Grants and allocations $ ) If thIS amount Includes foreign grants check here ~ D
e Other program servtces (attach schedule) D
(Grants and allccanons $ 1 If thIS amount Includes foreicn grants check here ~ f Total of Program Service Expenses (should equal line 44. column (8). Program servlces)

Form 990 (2006)

623021 01·18·07

3

,',

NEW YORK CITY DISTRICT COUNCIL OF ENTERS VA

13

Form 990 (2006) CARP CATION FUND -6227443 Page 4
I Part IV I Balance Sheets (See the instrucuons.)
Note: Where reqUired, attached schedules and amounts within the aeecnpuon column (A) (B)
should be for end-of-year amounts only. Beginning of year End of year
45 Cash· non·interest·beanng 5,471,041- 45 o.
46 Savings and temporary cash Investments 7,807,397. 46 o.

47 a Accounts receivable 47a
b Less: allowance for doubtful accounts 47b 3,349,324. 47c o.

4B a Pledges receivable 4Ba
b Less: allowance for doubtful accounts 4Bb o. 48c o.
49 Grants receivable o. 49 o.
50 a Receivables from current and former officers, directors, trustees, and
key employees o. 50a o.
b Receivables from other disqualified persons (as defined under section
III 4958(1)(1)) and persons descnbed in section 49j8(C)(3 (B) o. 50b o.
..
QI 51 a Other notes and loans receivable 51 a
III
~ b Less allowance for doubtful accounts 51b o. 51c o.
52 Invent ones for sale or use o. 52 o.
53 Prepaid expenses and deferred charges o. 53 o.
54 a Investments· publicly-traded secunties ~ D Cost DFMV 54a
b Investments· other securities ~ D Cost DFMV 11,611.895. 54b
55 a Investments· land, bujldmqs, and
equipment: basis 55a

b Less: accumulated depreciation 55b o. 55c o.
56 Investments· other I 57a I o. 56 o.
57 a Land, buildmqs, and equipment: basis
b Less: accumulated depreciation 57b 73,056. 57c o.
58 Other assets, Including program-related Investments
(descnbe ~ ) 48,089. 58 o.
59 Total assets (must eaualline 74l. Add lines 45 throuah 58 28,360,802. 59 o.
60 Accounts payable and accrued expenses 187,397. 60 o.
61 Grants payable o. 61 o.
62 Deferred revenue o. 62 o.
III o. o.
QI 63 Loans from officers, directors, trustees, and key employees 63
~ 64 a Tax-exempt bond liabilities o. 64a o.
:a
I'll b Mortgages and other notes payable o. 64b o.
::i
65 Other liabilities (descnbs ~ ) 1,601,768. 65 o.

66 Total liabilities. Add lines 60 throuah 65 1,789,165. 66 o.
Organizations that follow SFAS 117, check here ~ D and complete lines
III 67 through 69 and lines 73 and 74.
QI 67 Unrestncted 67
u
c 68 Temporanly restncted 68
I'll
iij
a:I 69 Permanently restricted 69
'0 Organizations that do not follow SFAS 117, check here ~ IX] and
c
::I
u, complete lines 70 through 74 .
..
0 70 Capital stock, trust pnncipal, or current funds o. 70 o.
III
.. o. o.
QI 71 Paid-m or capital surplus, or land, bUilding, and equipment fund 71
III
III 26,571,637. o.
c 72 Retained earnings, endowment, accumulated Income, or other funds 72
..
QI 73 Total net assets or fund balances. Add lines 67 through 69 or lines 70 through 72
Z
(Column (A) must equal line 19 and column (8) must equal line 21) 26,571,637. 73 o.
74 Total liabilities and net assets/fund balances. Add lines 66 and 73 28,360,802. 74 o. Form 990 (2006)

623031 01·2()'07

4

.' NEW YORK CITY DISTRICT COUNCIL OF

Form 990 2006 CARPENTERS VACATION FUND 13-6227443 Pa e5

Reconciliation of Revenue per Audited Financial Statements With Revenue per Return (See the mstrucuons.)

a Total revenue, gains, and other support per audited financial statements a N/A
b Amounts included on line a but not on Part I, line 12:
1 Net unrealized gains on Investments b1
2 Donated services and use of facilities b2
3 Recovenes of pnor year grants b3
4 Other (specify): b4
Add lines b1 through b4 b
c Subtract line b from line a c
d Amounts included on Part I, line 12, but not on line a: l d1 I
1 Investment expenses not Included on Part I, line 6b
2 Other (specify): d2
Add lines d1 and d2 d
e Total revenue (Part I line 12). Add lines c and d ~ a
I PartIV .. B! Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
a Total expenses and losses per audited financial statements a N/A
b Amounts Included on line a but not on Part I, line 17:
1 Donated services and use of facilities b1
2 Prior year adjustments reported on Part I, line 20 b2
3 Losses reported on Part I, line 20 b3
4 Other (specify): b4
Add lines b1 through b4 b
c Subtract line b from line a c
d Amounts Included on Part I, line 17, but not on line a: I d1 I
1 Investment expenses not Included on Part I, line 6b
2 Other (specify): d2
Add lines d1 and d2 d
e Total exoenses (Part I line 17). Add lines c and d ~ e
I Part V-Al Current Officers, Directors, Trustees, and Key Employees (LIst each person who was an officer, director, trustee, or key employee at any time dUring the year even If they were not compensated.) (See the mstructions.)

(8) Title and average hours (e) Compensation (D)Cont~butlons to

(A) Name and address per week devoted to (II not paid, anter ~'r,fn~~~~r:~t

positron -0-.1 compensatlo"·Dlans

o.

(E) Expense account and other allowances

o.

o.

623041 01-18-07

Form 990 (2006)

5

, "

NEW YORK CITY DISTRICT COUNCIL OF

E S 0 F

Form 990 (2006) CARP NTER VACATI N UND 13-6227443 Page 6
lpanV-A.j Current Officers, Directors, Trustees, and Key Employees (continued) Yes No
75 a Enter the total number of officers, directors, and trustees permitted to vote on organization business at board
meetings ~ 12
b Are any officers, directors, trustees, or key employees listed In Form 990, Part V'A, or highest compensated employees
listed In Schedule A, Part I, or highest compensated professional and other Independent contractors listed in Schedule A,
Part II·A or 11·8, related to each other through family or busmess relationships? If 'Yes,' attach a statement that identifies
the Individuals and explains the relatronstupts) 75b X
c Do any officers, directors, trustees, or key employees listed In Form 990, Part V'A, or highest compensated employees
listed In Schedule A, Part I, or highest compensated professional and other independent contractors listed In Schedule A,
Part II·A or 11·8, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the
organization? See the Instructions for the definition of 'related organization.' 75c X
If 'Yes,' attach a statement that Includes the Information descnbed In the instructions.
d Does the oroaruzatron have a written conflict of Interest oohcv? 75d X
I Part V-Bl Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other
. . Benefits (If any former officer, director, trustee, or key employee received compensation or other benefits (descnbed below) dunng the year, list that person below and enter the amount of compensation or other benefits In the appropnate column See the instructions)

(C) Compensation (0) Contributions to (E) Expense
(A) Name and address (8) Loans and Advances (If not paid, employee benefit account and
NONE enter -0-) plans & deferred other allowances
compensation plan.
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
---------------------------------
IPart VII Other Information (See the mstructtons.) Yes No
76 Old the organization make a change In Its activities or methods of conducting activities? If 'Yes,' attach a detailed
statement of each change 76 X
77 Were any changes made In the organizing or governing documents but not reported to the IRS? 77 X
If 'Yes,' attach a conformed copy of the changes.
78 a Old the organization have unrelated bustness gross Income of $1,000 or more dunng the year covered by this return? 78a X
b If 'Yes,' has It filed a tax return on Form 990- T for trus year? N/A 78b
79 Was there a liqutdation, dissolution, termination, or substantial contraction dunng the year? If 'Yes,' attach a statement ** 79 X
80 a Is the organization related (other than by association With a statewide or nationwrde organization) through common
membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization? 80a X
b If 'Yes,' enter the name of the organlzatlon~ SEE STATEMENT 5
and check whether It is D exempt or D nonexempt
81 a Enter direct or Indirect political expenditures. (See line 81 Instructions.) I 81a I o.
b Old the organization file Form 1120-POL for thiS year? alb X **

SEE STATEMENT 6

Form 990 (2006)

62316111)1·18·07

6

NEW YORK CITY DISTRICT COUNCIL OF

Form 990 (2006) CARPENTERS VACATION FUND

13-6227443 Page 7

! Part VII Other Infonnation (contmued)

Yes No

x

82 a
b
83 a
b
84 a
b
85
b
c
d
e
1
g
h
86 Old the organization receive donated services or the use of materials, equipment, or facjlmes at no charge or at substantially less than fair rental value?

If 'Yes,' you may indicate the value of these Items here. Do not Include this

amount as revenue In Part I or as an expense In Part II. (See Instructions In Part III.)

I 82b I

N/A

82a

83b

Old the organization comply with the public inspection requirements for returns and exemption applications? Old the organization comply with the disclosure requirements relating to quid pro quo contnbutions?

Old the organization sohcrt any contributions or gifts that were not tax deductible?

b Gross receipts, Included on line 12, for public use of club facilrnes

87 501(c)(12) organizations. Enter: a Gross Income from members or shareholders

b Gross Income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.)

85e

85d

85e

N/A

83a X

84a

N/A
N/A
N/A
N/A
N/A 85g
N/A 85h
N/A
N/A
N/A
N/A 851

88 a At any time dunng the year, did the organization own a 50% or greater Interest In a taxable corporation or partnership, or an entity disregarded as separate from the organization under Regulations sections 301.7701·2 and 301. 7701·3?

If 'Yes,' complete Part IX

b At any time dunng the year, did the organization, directly or Indirectly, own a controlled entity Within the meaning of section 512(b)(13)? If 'Yes,' complete Part XI

If 'Yes,' did the organization include with every solicitation an express statement that such contnbuuons or gifts were not

tax deductible? N / A 84b

1--=-":":"'+--+---

501 (c)(4), (5), or (6) organizations. a Were substantially all dues nondeductible by members? N / A 1-85=a'-t-_-+ __

Old the organization make only m-house lobbYing expenditures of $2,000 or less? N / A t-8;;,;5;;:b+_+ __

If 'Yes' was answered to either 85a or 85b, do not complete 85c through 85h below unless the organization received a

waiver for proxy tax owed for the pnor year.

Dues, assessments, and Similar amounts from members Section 162(e) lobbymq and political expenditures

Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices Taxable amount of lobbYing and political expenditures (line 85d less 85e)

Does the organization elect to pay the section 6033(e) tax on the amount on line 85f?

If section 6033(e)(1 )(A) dues notices were sent, does the organization agree to add the amount on line 85f to ItS reasonable estimate of dues allocable to nondeductible lobbymq and political expenditures for the follOWing tax year?

501 (c)(7) organizations. Enter: a Initiation fees and capital contnbutions Included on line 12

86a

86b

87a

87b

88a

X

X

X

89b

89 a 501 (c)(3) organizations. Enter: Amount of tax Imposed on the organization dunng the year under:

section 4911 ~ N / A , section 4912 ~ N / A , sectron 4955 ~ N / A

--~~------

b 501(c)(3) and 501 (c)(4) organizations. Old the organization engage In any section 4958 excess benefit

transaction dUring the year or did It become aware of an excess benefit transaction from a prior year? If 'Yes,' attach a statement explaining each transaction

e Enter: Amount of tax Imposed on the organization managers or disqualified persons dunng the year under

sections 4912, 4955, and 4958 ~ O=--'"".

d Enter: Amount of tax on line 89c, above, reimbursed by the organization ~ ..::O~.

a All organizations. At any time dUring the tax year, was the organization a party to a prohibited tax shelter transaction? 890 X

1 All organizations. Old the organization acquire a direct or Indirect Interest in any applicable Insurance contract? 891 X

g For supportmg organizations and sponsonng organizations mamtaming donor advised funds. Old the supporting organization,

or a fund maintained by a sponsoring organization, have excess business holdings at any time dunnq the year? 89g X

N/A

~ 88b

90 a List the states With which a copy of this return IS filed ~=-N:..:O::.;N:..:..=E=-- --r-_-r --:::-::-

b Number of employees employed In the pay penod that Includes March 12, 2006 I 90b I 3 °

91 a The books are in care of ~ BOARD OF TRUSTEES Telephone no ~ 212-366-7300

Located at ~ 395 HUDSON STREET, NEW YORK, NY ZIP + 4 ~ 100 14

b At any time dunng the calendar year, did the organization have an interest In or a signature or other authonty over Yes No
a financial account In a foreign country (such as a bank account, securmes account, or other financial account)? 91b X
If 'Yes,' enter the name of the foreign country ~ N/A
See the Instructions for exceptions and filing requirements for Form TO F 90-22.1, Report of Foreign Bank
and Financial Accounts. 623162/01-18-07

7

Form 990 (2006)

NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS VACATION FUND

C At any time dunng the calendar year, did the organization maintain an office outside of the United States?

If 'Ves,' enter the name of the foreign country ~ .=.N:...:/....:A=- _

92 Section 4947(8)(1) nonexempt chantable trusts fIling Form 990 In lIeu of Form 1041- Check here

and enter the amount of tax-exernot Interest received or accrued durino the tax year .: I 92 I N/A
I Part VIII Analysis of Income-Producing Activities (See the mstructions.)
Note: Enter gross amounts unless otherwIse Unrelated business Income Excluded by section 512. 513. or 514 (E)
indIcated. (A) (8) (e) (D) Related or exempt
Business Amount Exclu· Amount
93 Program service revenue: code slon function Income
code
a EMPLOYER CONTRIBUTIONS 28,444,985.
b
c
d
e
f Medicare/Medicaid payments
g Fees and contracts from government agencies
94 Membership dues and assessments
95 Interest on savings and temporary cash Investments 14 93,556.
96 DIvidends and Interest from secunties 14 208,239.
97 Net rental Income or (loss) from real estate:
a debt·financed property
b not debt·financed property
98 Net rental Income or (loss) from personal property
99 Other Investment Income
100 Gain or (loss) from sales of assets
other than Inventory
101 Net Income or (loss) from special events
102 Gross profit or (loss) from sales of Inventory
103 Other revenue:
a ARBITRATION AWARD 01 4,598.
b
c
d
e
104 SUbtotal (add columns (B), (D), and (E)). o. 306,393. 28,444,985. 105 Total (add line 104, columns (B), (D), and (E))

Note' Line 105 plus line 1e Part I should equal the amount on line 12 Part I

28,751,378.

, , ,
I Part Villi Relationship of Activities to the Accomplishment of Exempt Purposes (See the mstructions.)
Line No. Explain how each activity for which Income IS reported In column (E) of Part VII contnbuted importantly to the accomplishment of the organization's
~ exempt purposes (other than by providing funds for such purposes).
93A \AMOUNTS PAID BY CONTRIBUTING EMPLOYERS AS CONSIDERATION FOR PROVIDING
SERVICES IN FURTHERANCE OF THE PURPOSE CONSTITUTING THE BASIS FOR THE
!EXEMPTION OF THE ORGANIZATION.

I Part IX I Information Regarding Taxable Subsidiaries and Disregarded Entities (See the tnstructions.)
Name, address, a~~IEIN of corpor~~on, perce~~ge of (el (01 I~)
Natu re of activmes Total Income End-of-~ear
partnership, or disregarded enu ownershiP Interest asse s
%
N/A %
%
%
I Part X I Information Regarding Transfers Associated with Personal Benefit Contracts (See the instructions} (a] Did the organization, dUring the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? (b) Did the organization, dunnq the year, pay premiums, directly or indirectly, on a personal benefit contract?

Note: If "Yes" to (bl. tne Form 8870 and Form 4720 (see instructions).

Dves DYes

[X] No [K] No

Form 990 (2006)

623163 01·18·07

8

NEW YORK CITY DISTRICT COUNCIL OF

Form 990 2006 CARPENTERS VACATION FUND 13-6227443 Pa e9

Information Regarding Transfers To and From Controlled Entities. Complete only If the organization IS a

controllmg organization as defmed in section 512(b)(13) N / A

Yes No
106 Did the reporting organization make any transfers to a controlled entity as defined In section 512(b)(13) of the Code? If 'Yes,'
comolete the schedule below for each controlled entnv,
(A) (81 (C) (D)
Name, address, of each Employer Description of Amount of
controlled entity Identification transfer transfer
Number
---------------------------------
a ---------------------------------
---------------------------------
b ---------------------------------
---------------------------------
c ---------------------------------
Totals
Yes No
107 Did the reporting organization receive any transfers from a controlled entity as defined In section 512(b)(13) of the Code? If 'Yes,'
complete the schedule below for each controlled entity.
(A) (8) (CI (01
Name, address, of each Employer Description of Amount of
controlled entity Identification transfer transfer
Number
---------------------------------
a ---------------------------------
---------------------------------
b ---------------------------------
---------------------------------
c ---------------------------------
Totals
Yes No
108 Did the organization have a binding wntten contract In effect on August 17,2006, covenng the Interest, rents, royalties, and
annuities descnbed in cuestion 107 above? /)
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sell-employed), ~TWO BALA P SUITE 501
address, and BALA CYNWYD PA 19004 ~ 610-668-9400
ZlP+4 Phone no Form 990 (2006)

623164101-26-07

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'NEW YORK CITY DISTRICT COUNCIL OF CARPEN

13-6227443

FORM 990

OTHER CHANGES IN NET ASSETS OR FUND BALANCES

STATEMENT

1

DESCRIPTION

AMOUNT

TRANSFER TO NYDCC WELFARE FUND FUE TO MERGER

<28,262,180.>

TOTAL TO FORM 990, PART I, LINE 20

<28,262,180.>

FORM 990

OTHER EXPENSES

STATEMENT

2

(A)

(B) PROGRAM SERVICES

(C) MANAGEMENT AND GENERAL

(D)

DESCRIPTION

TOTAL

FUNDRAISING

AUTOMOBILE COMPUTER EXPENSE CONSULTING

PAYROLL AUDIT EXPENSE

SECURITY INVESTMENT EXPENSE DATA PROCESSING SERVICES

FIDUCIARY LIABILITY INSURANCE

3,597. 12,441. 2,519.

136,132. 14,411. 1,559.

65,030.

19,443.

TOTAL TO FM 990, LN 43

255,132.

FORM 990

BENEFITS PAID TO OR FOR MEMBERS

STATEMENT

3

DESCRIPTION

AMOUNT

VACATION BENEFITS

26,268,712.

TOTAL TO FORM 990, PART II, LINE 24

26,268,712.

12

STATEMENT(S) 1, 2, 3

NEW YORK CITY DISTRICT COUNCIL OF CARPEN

13-6227443

FORM 990

PART V-A - LIST OF CURRENT OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES

STATEMENT

4

NAME AND ADDRESS

TITLE AND AVRG HRS/WK

COMPENSATION

MICHAEL J. FORDE UNION TRUSTEE/CHAIRMEN

395 HUDSON STREET 2.00 O.

NEW YORK, NY 10014

PETER THOMASSEN UNION TRUSTEE

395 HUDSON STREET 2.00 O.

NEW YORK, NY 10014

DENIS SHEIL UNION TRUSTEE

395 HUDSON STREET 2.00 O.

NEW YORK, NY 10014

LAWRENCE D'ERRICO UNION TRUSTEE

157 EAST 25TH STREET 2.00 O.

NEW YORK, NY 10010

ALFRED G. GEROSA EMPLOYER TRUSTEE

49 WEST 45TH STREET, SUITE 900 2.00 O.

NEW YORK, NY 10036

PAUL J. O'BRIEN EMPLOYER TRUSTEE

451 PARK AVENUE SOUTH, 4TH FLOOR 2.00 O.

NEW YORK, NY 10016

GEORGE GRECO EMPLOYER TRUSTEE

P . 0 • BOX 16 3 2 . 0 0 0 •

OLD BRIDGE, NJ 08857

JOSEPH OLIVIERI EMPLOYER TRUSTEE

125 JERICHO TURNPIKE, SUITE 301 2.00 O.

JERICHO, NY 11753

DAVID MEBERG

425 WEST 25TH STREET NEW YORK, NY 10010

EMPLOYER TRUSTEE/CO-CHAIR

2.00 O.

CHARLES HARKIN

395 HUDSON STREET NEW YORK, NY 10014

UNION TRUSTEE 2.00

JOHN GREANEY

505 8TH AVENUE NEW YORK, NY 10018

UNION TRUSTEE 2.00

13

EMPLOYEE

BEN PLAN EXPENSE CONTRIB ACCOUNT

O.

O.

O.

O.

O.

O.

O.

o .

O.

O.

O.

O.

O.

O.

O.

O.

O.

O.

O.

O.

O.

o .

o .

O.

STATEMENT(S) 4

NEW YOR.K CITY DISTRICT COUNCIL OF CARPEN 13-6227443
KEVIN'O'CALLAGHAN EMPLOYER TRUSTEE
216 SOUTH TERRACE AVENUE 2.00 o. o. o .
MOUNT VERNON, NY 10550
RICHARD B HARDING, JR. EMPLOYER TRUSTEE (PAST)
755 2ND AVENUE 2.00 o. o. o.
NEW YORK, NY 10017
TOTALS INCLUDED ON FORM 990, PART V-A o. o . o . FORM 990

IDENTIFICATION OF RELATED ORGANIZATIONS PART VI, LINE 80B

STATEMENT

5

NAME OF ORGANIZATION

EXEMPT NONEXEMPT
X
X
X
X
X
X
X
X
X
X THE D.C. OF NY AND VICINITY OF THE UNITED BROTHERHOOD OF CARPENTERS AND

JOINERS OF AMERICA., AFL-CIO

NEW YORK CITY CARPENTERS RELIEF AND CHARITY FUND NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS PENSION FUND

NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS ANNUITY FUND

NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS WELFARE FUND

NYC DISTRICT COUNCIL OF CARPENTERS APPRENTICE, JOURNEYMEN RETRAINING,

EDUCATIONAL AND INDUSTRY FUND

RETIREMENT AND PENSION FUND FOR OFFICERS AND EMPLOYEES OF THE NEW YORK

CITY DISTRICT COUNCIL OF CARPENTERS AND RELATED ORGANIZATIONS

FORM 990

STATEMENT CONCERNING LIQUIDATION, TERMINATION, ETC. - PART VI, LINE 79

STATEMENT

6

EXPLANATION

DURING THE PLAN YEAR ENDED JUNE 30, 2007 THE FUND MERGED INTO THE NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS WELFARE FUND. SEE ATTACHED MERGER AGREEMENT.

14

STATEMENT(S) 4, 5, 6

NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS V ACTION F11N9-

EIN: 13-6277443

..

RESOLUTION AND MERGER AGREEMENT

WHEREAS, the New York City District Council of Carpenters Welfare Fund (the

"Welfare Fund") is an employee welfare benefit fund exempt from taxation under Section

501(c)(9) of the Internal Revenue Code of 1986, as amended (the "Code");

WHEREAS, the New York City District Council of Carpenters Vacation Fund

(the "Vacation Fund") is an employee welfare benefit ~d exempt from taxation under Section 501 (cX9) oftbe Internal Revenue Code of 1986, as amend6d (the "Code");

,r

WHEREAS, the Welfare Fund and the Vacation Fund (collectively, the "Funds")

are related funds, sponsored by boards of trustees composed of identical individuals;

WHEREAS, the Board of Trustees of the Welfare Fund has appointed an

independent trustee (the "Welfare Fund Independent Trustee"), in accordance with Article VI,

Section 17 of the Welfare Fund's Amended Agreement and Declaration of Trust (the "Welfare Fund Trust Agreement"), to consider the advisability of merging the Funds;

WHEREAS, the Board of Trustees of the Vacation Fund has appointed an

independent trustee (the "Vacation Fund Independent Trustee"), in accordance with Article VI

Section 17 of the Vacation Fund's Amended Agreement and Declaration of Trust (the "Vacation Fund Trust Agreement"), to consider the advisability of merging the Funds;

WHEREAS, each independent fiduciary has had the opportunity to examine and

review any documents or other material it deems necessary to determine the advisability of

merging the Funds;

10110348.2

MERGER AGREEMENT PER STATEMENT 6

NEW YORK CITY DISTRlCT COUNCIL OF CARPENTERS V ACTION FUND

EIN: 13-6277443

WHEREAS, the independent fiduciaries of the Welfare and Vacation Funds have

each determined that a merger of the Welfare Fund and the Vacation Fund is in the best interest

of participants and beneficiaries of both Funds; and

WHEREAS, the Welfare Fund Independent Trustee is authorized to merge by the

Welfare Fund Trust Agreement, and the Vacation Fund Independent Trustee is authorized to

merge by the Vacation Fund Trust Agreement; and

WHEREAS, the Welfare Fund Independent Trustee and the Vacation Fund

Independent Trustee have determined that the Welfare Fund shall be the surviving legal entity for all purposes under the Employee Retirement Income Security Act of 1974, as amended

("ERISA ") and other applicable laws;

Effective October 1, 2006, after bo parties execute this Agreement, the

"

\

eby is merged into and become, a part of the Welfare Fund (the

\

"Merger Daten).

2. On the Merger Date or as soon as practicable thereafter, the Vacation

Fund shall transfer to the Welfare Fund all the property and estate of the Vacation Fund,

including, but not limited to, the accounts receivable, income, revenue, surplus, investments,

-' ,

bank accounts, legal rights and holdings of the Vacation Fund, together with the right to receive contributions or other obligations due from any employer contributing to the Vacation Fund,

pursuant to a collective bargaining or other agreement. This resolution and agreement sh~] constitute the authority and direction to effect such transfer(s).

10170848.2

2

MERGER AGREEMENT PER STATEMENT 6

·'

NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS V ACTION FUND

. , .

EIN: 13-6277443

3. The Welfare Fund shall assume the Vacation Fund's obligations to pay

benefits then due and payable or which shall thereafter become due and payable to those who, but for the merger effected hereby, would be participants in the Vacation Fund and shall also

assume liability for aLI outstanding valid debts and obligations oOhe Vacation Fund.

4. On the Merger Date, all participants in the Vacation Fund and those who,

but for such merger, would have otherwise hereafter remained participants in the Vacation Fund

("Vacation Participants") shall be and become participants in the Welfare Fund. On the Merger

Date, each such Vacation Participant shall be eligible for benefits under the Welfare Fund

pursuant to the terms of the Vacation Fund's plan docwnent in effect immediately prior to the

Merger Date in accordance with any existing collective bargaining or other agreement.

5. On the Merger Date, participants in the pre-merged Welfare Fund shall

continue to be eligible for benefits in accordance with the plan document for the Welfare Fund in

effect immediately prior to the Merger Date.

6. The Welfare Fund shall purchase fiduciary liability insurance for the

Vacation Fund Trustees (including the Vacation Fund Independent Trustee) to cover liability

arising from their service as fiduciaries of the Vacation Food, with coverage limits that are no

less than those under the Vacation Fund's fiduciary liability policy in effect immediately prior to

the Merger Date, with "prior acts" coverage. Such coverage will remain in effect for six (6)

years following the Merger Date. The fiduciary liability insurance provided under this Paragraph

6 shall, in the Welfare Fund's sole discretion, be either: (a) a tail to Vacation Fund's current

fiduciary liability policy; or (b) a rider to the Welfare Fund's policy.

10170848.2

3

MERGER AGREEMENT PER STATEMENT 6

NEW YORK CITY DISTRICT ~OUNCIL OF CARPENTERS V ACTION Frn:m.

EIN: 13-6277443

7. The Funds' professionals, including, but not limited to, the Funds'

administrator, counsel, consultant and accountant shall take an actions necessary or appropriate

to carry out the full intent and purposes ofthis Agreement.

8. This Agreement may be executed in counterparts, each of which shall be

deemed to be an original but all.ofwhich together shall constitute one and the same instrument

9. IN WITNESS WHEREOF, the parties hereto have herewith set their

hands this day of -' 2006 and direct that it be filed with the minutes of the

Board of Trustees of each Fund.

s ,

New York City District Council of Carpenters elfare Fund

New York City District Council t of Carpenters Vacation Fund

•• r

By:

Name:.1¥~1IURii!·&lckl~· L _

Title: dependent Trustee, On

Behalf of the New York City Council of Carpenters Welfare Fund

By:

Name: Lewis Goldberg

Title: Independent Trustee, On Behalf ", of the New York City District

, Council of Carpenters Vacation FWld

q)

10170848,2

4

MERGER AGREEMENT PER STATEMENT 6



l •

NEW YORK CITY DISTRICT COUNCIL OF CARPENTERS V ACTION FUND

. EIN: 13-6277443

7. The Funds' professionals, including, but not limited to, the Funds'

administrator, counsel, consultant and accountant shall take all actions necessary or appropriate

to carry out the full intent and purposes of this Agreement.

8. This Agreement may be executed in counterparts, each of which shall be

deemed to be an original but all of which together shall constitute one and the same instrument

9. IN WITNESS WHEREOF, the parties hereto have herewith set their

hands this ./:l!!:day of L2~ 2006 and direct that it be filed with the minutes of the Board of Trustees of each Fund.

New Yom City District Council of Carpenters Welfare F\U1d

New York City District Council

:~empen~

Name: Lewis Goldberg

Title: Independent Trustee, On Behalf of the New York City District Council of Carpenters Vacation Food

By:

Name: Herbert Ricklin

Title: Independent Trustee, On Behalf of the New York City Council of Carpenters Welfare Fund

101708482

4

MERGER AGREEMENT PER STATEMENT 6