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efile GRAPHIC rint - DO NOT PROCESS

As Filed Data -

DLN:93490103001527

Return of Organization Exempt From Income Tax

2005

Form990

OM8 No 1545-0047

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

Department of the Treasury

Internal Revenue Service

"The organization may have to use a copy of this return to satisfy state reporting requirements

Open to Public Inspection

A For the 2005 calendar year or tax year beginning 07-01-2005 and ending 06-30-2006

B Check If applicable r Address change

r Name change r Initial return

r
C Name of organization D Employer identification number
Please NYC DISTRICT COUNCIL OF CARPENTERS WELFARE FUND 13-5615576
use IRS WELFARE FUND
label or
print or Number and street (or PObox If mall IS not delivered to street address) I Room/suite
type. See 395 HUDSON STREET
Specific E Telephone number
Instruc- City or town, state or country, and ZIP + 4 (212) 366-7300
tions. NEW YORK, NY 10014
F Accounting method r Cash F Accrual , Final return

r Amended return , Application pend Ing

, Other (specify) ..

i> Section 501(c)(3) organizations and 4947(a)(1) nonexempt charitable H and I are not applicable to section 527 orqentzettons
trusts must attach a completed Schedule A (Form 990 or 990-EZ). H(a) Is this a g roup return for affiliates) I Yes F No
H(b) If "Yes" enter number of affiliates ....
G Web site:" wwwnyccbfcom , Yes , No
H(c) Are all affiliates Included)
J Organization type (check only one) .... F 501(c) (9) .... (Insert no ) , 4947(a)(1) or ,527 (If "No," attach a list See Instructions)
Check here ""f the orqarnzation's gross receipts are normally not more than $25,000 The H(d) Is this a separate return filed by an organization
K covered by a group ruling) ,Yes F No
organization need not file a retum With the IRS, but If the organization received a Form 990 Package In
the mall, It should file a return Without financial data Some states require a complete return. I Group Ex e mptto n Number"
M Check .. P- If the organization IS not required to
L Gross receipts Add lines 6b, 8b, 9b, and lOb to line 12 .. 525,829,895 attach Sch B (Form 990, 990-EZ, or 990-PF)
Revenue Expenses and Changes in Net Assets or Fund Balances (See the mstructrons.)
1 Cont nb uttons , giftS, grants, and Similar amounts received
a Direct public support la
b Indirect pubhe support lb
c Government contributions (grants) lc
d Total (add lines 1a through 1c) (cash $ noncash $ ) ld
2 Program service revenue Including government fees and contracts (from Part VII, line 93) 2 191,132,095
3 Membership dues and assessments 3
4 Interest on savings and temporary cash Investments 4 643,722
5 DIVidends and Interest from s e c urrtre s 5 7,963,831
6a Gross rents I 6a I
b Less rental expenses 6b
c Net rental Income or (loss) (subtract line 6b from line 6a) 6c
7 Other Investment Income (describe .... ) 7
lJ,J
;jj Sa Gross amount from sales of assets (A) SeCUrities (8) 0 ther
c- ather than Inventory
ru 326,079,668 8a
cr:
b Less cost or other baSIS and sales expenses 326,217,198 8b
c Gain or (loss) (attach schedule) ~ -137,530 8c
d Net gain or (loss) (combine line 8c, columns (A) and (8» 8d -137,530
9 Special events and activities (attach schedule) Ifany amount IS from gaming, check here",
a Gross revenue (not Including $ of
contributions reported on line 1a) I 9a I
b Less direct expenses other than fundrars mq expenses 9b
c Net Income or (loss) from special events (subtract line 9b from line 9a) 9c
lOa Gross sales of Inventory, less returns and allowances I lOa I
b Less cost of goods sold lOb
c Gross profit or (loss) from sales of Inventory (attach schedule) (subtract line lOb from line lOa) lOc
11 Other revenue (from Part VII, line 103) 11 10,579
12 Total revenue (add lines 1d, 2, 3,4,5, 6c, 7, 8d, 9c, 10c, and 11) 12 199,612,697
13 Program services (from line 44, column (8» 13
"" 14 Management and general (from line 44, column (C» 14
~
ru 15 Fundr aismq (from line 44, column (D» 15
Q.
" 16 Payments to affiliates (attach schedule) 16
w
17 Total expenses (add II nes 16 and 44, column (A» 17 203,801,866
"" 18 Excess or (defrc rt) for the year (subtract line 17 from line 12) 18 -4,189,169
~ 19 Net assets orfund balances at beginning of year (from line 73, column (A» 19 210,390,063
""
"'-. Other changes In net assets or fund balances (attach explanation) ~
iii 20 20 1,832,486
2: 21 Net assets orfund balances at end of year (combine lines 18,19, and 20) 21 208,033,380 For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.

Cat No 11282Y Form 990 (2005)

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Form 990 (2005)

Page 4

l::F.t.Iii"J Ba la nee Sheets (See the instructions)

Note: Where required, attached schedules and amounts within the des cnptron (A) (8)
column should be for end-of-year amounts only. Beginning of year End of year
45 Cas h-non- int e res t- bea ring 7,065,520 45 6,462,231
46 Savings and temporary cash Investments 4,058,445 46 3,943,230
47a Accounts receivable 47a 26,184,425
b Less allowance for doubtful accounts 47b 15,900,000 9,435,881 47c 10,284,425
48a Pledges receivable 48a
b Less allowance for doubtful accounts 48b 48c
49 Grants receivable 49
50 Receivables from officers, directors, trustees, and key employees
(attach schedule) 50
51a Other notes and loans receivable (attach
schedule) ISla I
-To
a:: b Less allowance for doubtful accounts Sib Sic
-To
-To 52 Lnv e nt o ne s for sale or use 52
.:(
53 Prepaid expenses and deferred charges 136,971 53 158,959
54 Investments-securities (attach schedule) .. I Cost F FMV 198,936,706 54 ~ 195,737,412
55a Investments-land, burldrnqs , and
equipment bas IS ssa
b Less acc umulated deprec iat ro n (attac h
schedule) ssb ssc
56 Investments-other (attach schedule) 56
s7a Land, burldrnqs , and equipment baSIS s7a 3,869,979
b Less acc umulated deprec iat ro n (attac h
schedule) s7b 3,643,820 333,629 s7c ~ 226,159
58 Other assets (describe .. ) 44,952,615 58 ~ 44,590,773

59 Total assets (must equal line 74) Add lines 45 through 58 264,919,767 59 261,403,189
60 Accounts payable and accrued expenses 916,066 60 686,153
61 Grants payable 61
62 Deferred revenue 62
<~ 63 Loans from officers, directors, trustees, and key employees (attach
I
schedule) 63
" 64a Tax-exempt bond liabilities (attach schedule) 64a
h,
b Mortgages and other notes payable (attach schedule) 64b
65 Other lrabhhtre s (describe .. ) 53,613,638 65 ~ 52,683,656

66 Total liabilities Add lines 60 through 65 54,529,704 66 53,369,809
Organizations that follow sFAs 117, check here .. I and complete lines
67 through 69 and lines 73 and 74
-To 67 Unrestricted 67
G!
g 68 Temporarily restricted 68
I']
'i'i 69 Permanently restricted 69
(0
u Organizations that do not follow SFAS 117, check here .. F and
:::
~ complete lines 70 through 74
(:; 70 Capital stock, trust prmcrpal, or current funds 70
-To 71 Paid-In or capital surplus, or land, burldmq, and equipment fund 71
a::
-To 72 Retained earnings, endowment, accumulated Income, or other funds 210,390,063 72 208,033,380
~
a:: 73 Total net assets or fund balances (add lines 67 through 69 or lines
Z 70through72,
column (A) must equal line 19, column (B) must equal line 21) 210,390,063 73 208,033,380
74 Total liabilities and net assets / fund balances Add hnes 66 and 73 264,919,767 74 261,403,189 Form 990 (2005)

Form 990 (2005)

Page 5

lihii"b·j Reconciliation of Revenue per Audited Financial Statements With Revenue per Return (See

the instructions.)
a Total revenue, gains, and other support per audited financial statements a
b A mounts Included on line a but not on line 12
1 Net unrealized gains on Investments bl
2 Donated services and use of facihtre s b2
3 Recoveries of prior year grants b3
4 Other (s p e cifv )
b4
A dd lines bl through b4 b
c Subtract line b from line a c
d Amounts Included on line 12, but not on line a
1 Investment expenses not Included on line 6b dl
2 Other (s p e cifv )
d2
A dd lines dl and d2 d
e Total revenue (line 12) Add lines c and d ... e
.:r.u.,'.c:II:. Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
a Total expenses and losses per audited financial statements a
b A mounts Included on line a but not on line 17
1 Donated services and use of facihtre s bl
2 Prior year adjustments reported on line 20 b2
3 Losses reported on line 20 b3
4 Other (s p e cifv )
b4
A dd lines bl through b4 b
c Subtract line b from line a c
d Amounts Included on line 17, but not on line a:
1 Investment expenses not Included on line 6b dl
2 Other (s p e cifv )
d2
A dd lines dl and d2 d
e Total expenses (line 17) Add lines c and d ... e
• :l'Ti"'J:J!W Current Officers, Directors, Trustees, and Key Employees (List each person who was an officer, director, trustee, or key employee at any time durrnq the year even If they were not compensated.) (See the

instructions.)
(D) Contnbunons to (E) Expense
(8) Title and average hours (C) Compensation employee benefit plans &
(Al Name and address per week devoted to position (If not paid, enter -0-.) deferred compensation account and other
plans allowances
See Additional Data Table Form 990 (2005)

Form 990 (2005)

Page 6

• :E.TiI"'J:J!. Current Officers, Directors, Trustees, and Key Employees (continued) Yes No
75a Enter the total number of officers, directors, and trustees permitted to vote on organization business at board
meetings ... 12
b A re 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 II-B, related to each other through family or business
relatrons hrps ? If"Yes," attach a statement that Identifies the Individuals and explains the re l atrons hrp (s ) 75b No
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 II-B, receive compensation from any other organizations, whether
tax exempt or taxable, that are related to this organization through common s up e rvts to n or common control? 75c No
Note. Related organizations Include section 509(a)(3) supporting organizations
If"Yes," attach a statement that Identifies the Individuals, explains the relationship between this
organization and the other oro aruzatro nj s ), and describes the compensation arrangements,
Including amounts paid to each Individual by each related organization
d Does the organization have a written conflict of Interest p o hc v ? 75d No
• :E.TiI .. '.cII:. 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 (described below) durrnq the year, list that person below and enter the amount of compensation or other

benefits In the appropriate column. See the mstructions.)
(D) Contnbutions to
(A) Name and address (8) Loans and Advances (C) Com pensation employee benefit plans (E) Expense account and
and deferred compensation other allowances
plans










• :fl"i"T,. Other Information (See the instructions.) Yes No
76 Old the organization engage In any activity not previously reported to the IRS? If "Yes,' attach a detailed descnption of each activity 76 No
77 Were any changes made In the organizing or governing documents but not reported to the IRS7 77 No
If"Yes," attach a conformed copy of the changes
78a Old the organization have unrelated busrness gross Income of $1,000 or more dunnq the year covered by thts return> 78a No
b If "Yes," has It flied a tax return on Form 990-T for t his y e ar? 78b
79 Was there a hquidanon, dissolution, termination, or substantial contraction dunng the vear> If "Yes," attach a statement 79 No
80a Is the organization related (other than by association With a statewide or nationwide organization) through common membership,
governing bodies, trustees, officers, etc I to any other exempt or nonexempt orqaruzation? 80a Yes
b If "Yes," enter the name of the organization" See Additional Data Table
and check whether It IS I exempt or I nonexempt
81a Enter direct or Indirect political expenditures (See line 81 Instructions) ·181a I
b Did the organization file Form 1120-POL for this ve ar> 81b No Form 990 (2005)

Form 990 (2005)

Page 7

No

1:E.Ti;a.Ti. Other Information (continued)

82a

Yes

Yes

No

82a Did the organization receive donated services or the use of materials, equipment, or facilities at no charge or at substantially less than fair rental value?

No

b If "Yes," you may Indicate the value of these Items here Do not Include this amount as revenue In Part lor as an expense In Part II (See instructions In Part III )

182b I

83a Did the organization comply with the public Inspection requirements for returns and exemption applications? b Did the organization comply with the disclosure requirements relating to quid pro quo contributions?

84a Did the organization solicit any contributions or gifts that were not tax deductible?

b If "Yes," did the organization Include with every solicitation an express statement that such contributions or gifts were not tax deductible?

85 501(c)(4), (5), or (6) organizations. a Were substantially all dues nondeductible by members? b Did the organization make only In-house lob b v mq expenditures of$2,000 or less?

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 the prior year

e Dues assessments, and Similar amounts from members d Section 162 (e) l o b b y rnq and political expenditures

e Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices

f Taxable amount of l o b b y rnq and political expenditures (line 85d less SSe)

asr

8se

8sd

8se

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

h If s e c tro n 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount on line S5fto Its reasonable estimate of dues allocable to nondeductible lo bbvmq and political expenditures for the following tax year?

86 501(c)(7) orgs. Enter a Initiation fees and capital contributions Included on line 12 1-8_6_a---i ---1

86b

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

87 501(c)(12) orgs. 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)

88 At any time durrnq 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

87a

87b

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

section 4911 ..

I section 4912 ..

, sectio n 4955 ..

b 501(c)(3) and 501(c)(4) orgs. Did the organization engage In any section 4958 excess benefit transaction durrnq 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 durmc the year under

sections 4912,4955, and 4958 ..

83a

83b

84a

84b

8sa

8sb

8sg

8sh

88

89b

No

No

d Enter Amount of tax on line 89c, above, reimbursed by the organization 90a List the states with which a copy of this return IS flied ..

b N umber of employees employed In the pay period that Includes March 12,2005 (See Instructions)

...

90b

142

91a The books are In care of .. _B_O_A_R_D_O_F_T_R_U_S_T_E_E_S _

395 HUDSON STREET Lo c at e d at js- NEWYORK, NY

Telephone no .. (212) 366-7300

ZI P + 4 .. _1_0_0_1_4 _

b At any time durmq the calendar year, did the organization have an Interest In or a signature or other authority over a financial account In a foreign country (such as a bank account, s e c untre s account, or other financial account)?

If"Yes," enter the name of the foreign country .. _

See the Instructions for exceptions and filing requirements for Form TO F 90-22.1, Report of Foreign Bank and Financial Accounts

e At any time durmq the calendar year, did the organization maintain an office o ut s rd e of the United States?

If"Yes," enter the name of the foreign country .. _

92 Section 4947(a)(1) nonexempt chantable trusts filing Form 990 In lieu of Form lD41-C hec k here

and enter the amount of tax-exempt Interest received or accrued d urrnq the tax year

92

Yes No
91b No
91e No ...

Form 990 (2005)

Form 990 (2005)

Page 8

~Tii"'''' Analysis of Income-Producing Activities (See the instructions,
Note: Enter gross amounts unless otherwise Indicated, Unrelated business Income Excluded by section 512, 513, or 514 (E)
(A) (e) Related or
Business (8) Exclusion (D) exempt function
code Amount code Amount Income
93 Program service revenue
a EM PLO YE R CO NTRI BUTIO N S 189,550,583
b COBRA CONTRIBUTIONS 1,581,512
c
d
e
f Medicare/Medicaid payments
9 Fees and contracts from government agencies
94 Membership dues and assessments
95 Interest on savings and temporary cash Investments 14 643,722
96 DIvidends and Interest from s e c urrtte s 14 7,963,831
97 Net rental Income or (loss) from real estate
a debt-financed property
b non debt-financed property
98 Net rental Income or (loss) from personal property
99 Other Investment Income
10D Gam or (loss) from sales of assets other than Inventory 18 -137,530
101 Net Income or (loss) from special events
102 Gross profit or (loss) from sales of tnv e ntory
103 Other revenue a MISCELLANEOUS INCOME 01 10,579
b
c
d
e
104 Subtotal (add columns (B), (D), and (E» 8,480,602 191,132,095 105 Total (add line 104, columns (B), (D), and (E»

Note: Line 105 plus line ld, Part I, should equal the amount on line 12, Part l.

• .. 1_9_9..:.,_6_1_2-'-,6_9_7

Did the organization, dunnq the year, receive any funds, directly or Indirectly, to pay premiums on a personal benefit contract?

Did the organization, durrnq the year, pay premiums, directly or Indirectly, on a personal benefit contract? NOTE: If "Yes" to (b), file Form 8870 and Form 4720 (see instructions),

[""" Yes P" No

Under penalties of perjury. I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge
and belief. It IS true. correct. and complete Declaration of preparer (other than officer) IS based on all Information of which preparer has any knowledge
Please ~ ****** 12007-04-03
Sign 51g nature of officer Date
Here ~
MICHAELl FORDE TRUSTEE/CO-CHAIRMAN
Type or print name and title
Date Check If Preparer's SSN or PTIN (See Gen Inst W)
Pre parer's ~
Paid signature self-
empolyed ·r
Preparer's
Use Firm's name (or yours ~
If self-employed). EIN •
Only address, and ZIP + 4 NOVAK FRANCELLA Ll.C

450 SEVENTH AVENUE SUITE 3500 •
Phone no (212) 279-4262
NEW YORK, NY 10123 Form 99D (2005)

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