TY 2019 Form 990

(A) Name and business address	(B) Description of services	(C) Compensation
HEALTHPARTNERS INC 8170 33RD AVE S BLOOMINGTON,MN55425	CLAIMS PROCESSING	4,118,626
PIPE TRADES SERVICES MN INC 4461 WHITE BEAR PARKWAY STE 1 WHITE BEAR LAKE,MN55110	CONTRACT ADMINISTRATOR	1,671,683
TWELE CAPITAL MANAGEMENT 5601 SMETANA DRIVE SUITE 707 MINNETONKA,MN55343	INVESTMENT ADVISORY	351,005
DELTA DENTAL PLAN OF MINNESOTA 500 S WASHINGTON AVENUE MINNEAPOLIS,MN55415	CLAIMS PROCESSING	290,814
VISION SERVICE PLAN 200 S WACKER DR SUITE 3080 CHICAGO,IL60606	CLAIMS PROCESSING	174,939
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 5

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet

Attach to Form 990.
SchDMd Bullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2019

Open to Public Inspection

Name of the organization

PIPE TRADES SERVICES MN WELFARE FUND

Employer identification number

41-0761972

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... SchDMd Bullet

(ii)

Assets included in Form 990, Part X ............................... SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2019

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

Term endowment SchDMd Bullet

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .................

3a(i)

(ii) Related organizations .................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....
b	Buildings ....
c	Leasehold improvements
d	Equipment ....	1,823	1,183	640
e	Other .....
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				640

Schedule D (Form 990) 2019

Page 3

Part VII

InvestmentsOther Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3)Other
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

InvestmentsProgram Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2019

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	106,315,471
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	-143,180
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................			2e	-143,180
3	Subtract line 2e from line 1..................			3	106,458,651
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b	1,833,583
c	Add lines 4a and 4b....................			4c	1,833,583
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	108,292,234

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	109,697,387
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d....................			2e	0
3	Subtract line 2e from line 1...................			3	109,697,387
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b	198,742
c	Add lines 4a and 4b.....................			4c	198,742
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	109,896,129

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
PART XI, LINE 4B - OTHER ADJUSTMENTS:	NET LOSS OF GRANTOR TRUST -37,886. 481(A) ADJUSTMENT - CASH TO ACCRUAL 1,871,469.
PART XII, LINE 4B - OTHER ADJUSTMENTS:	NET LOSS OF DISREGARDED ENTITY 198,742.

Schedule D (Form 990) 2019

Additional Data

Software ID:
Software Version:

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Schedule L
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Transactions with Interested Persons

Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
MediumBullet

Attach to Form 990 or Form 990-EZ.
MediumBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2019

Open to Public Inspection

Name of the organization

PIPE TRADES SERVICES MN WELFARE FUND

Employer identification number

41-0761972

Part I

Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.

1(a) Name of disqualified person	(c) Description of transaction	(d) Corrected?
1(a) Name of disqualified person	(c) Description of transaction	Yes	No

Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image

Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ Bullet Image

Part II

Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22

(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	(d) Loan to or from the organization?		(e) Original principal amount	(f) Balance due	(g) In default?		(h) Approved by board or committee?		(i) Written agreement?
(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	To	From	(e) Original principal amount	(f) Balance due	Yes	No	Yes	No	Yes	No






Total ............... $

Part III

Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of assistance	(d) Type of assistance	(e) Purpose of assistance

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 50056A

Schedule L (Form 990 or 990-EZ) 2019

Page 2

Part IV

Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of transaction	(d) Description of transaction	(e) Sharing of organization's revenues?
(a) Name of interested person		(c) Amount of transaction	(d) Description of transaction	Yes	No
(1) PIPE TRADES HEALTH CARE SERVICES INC	100% COMMONLY CONTROLLED ENTITY	-9,671,741	PIPE TRADES HEALTH CARE SERVICES, A COMMONLY CONTROLLED ENTITY, PAYS ALL OPERATING EXPENSES FOR THE ORGANIZATION. THE ORGANIZATION REIMBURSES PIPE TRADES HEALTH CARE SERVICES FOR THESE EXPENSES ANNUALLY.		No

Part V

Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).

Return Reference	Explanation

Schedule L (Form 990 or 990-EZ) 2019

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2019

Open to Public
Inspection

Name of the organization

PIPE TRADES SERVICES MN WELFARE FUND

Employer identification number

41-0761972

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 3	THE TRUST DOES NOT HAVE ANY EMPLOYEES. CLAIMS PROCESSING AND ROUTINE ADMINISTRATIVE TASKS ARE PERFORMED BY THE PIPE TRADES SERVICES MN, INC., A TAXABLE CORPORATION ESTABLISHED BY THE TRUST AND OTHER BENEFIT FUNDS TO FACILITATE DAY TO DAY ADMINISTRATIVE FUNCTIONS.
FORM 990, PART VI, SECTION B, LINE 11B	THE ADMINISTRATOR AND THE TRUSTEES REVIEW THE FORM 990 AND WILL CONSULT WITH THE PREPARER REGARDING ANY ITEM THAT THEY DETERMINE TO BE INSUFFICIENT OR REQUIRING ADDITIONAL INFORMATION OR DISCUSSION.
FORM 990, PART VI, SECTION B, LINE 12C	EACH TRUSTEE COMPLETES AN ANNUAL DISCLOSURE FORM FOR POTENTIAL CONFLICTS OF INTEREST, AND IS REQUIRED TO INFORM THE TRUST OF ANY CONFLICT THAT THE TRUSTEES BELIEVE MAY HAVE ARISEN. IF THE ADMINISTRATIVE STAFF OF THE PIPE TRADES SERVICES MN, INC. OR TRUSTEES OF THE PIPE TRADES SERVICES MN WELFARE FUND BELIEVE A CONFLICT HAS ARISEN, OR IF INFORMATION OF A POTENTIAL CONFLICT IS DISCOVERED IN ANY OTHER MANNER, THAT INFORMATION IS COMMUNICATED TO THE TRUSTEES FOR REVIEW AND ATTENTION.
FORM 990, PART VI, SECTION C, LINE 19	FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST ARE AVAILABLE UPON REQUEST.
FORM 990, PART XI, LINE 9:	NET LOSS OF GRANTOR TRUST 37,886. 481(A) ADJUSTMENT - CASH TO ACCRUAL 5,614,407.
PART XII, LINE 1:	THE TRUST IS CHANGING THE ACCOUNTING METHOD USED TO PREPARE THE FORM 990 FROM CASH METHOD TO ACCRUAL METHOD. THE TRUST MAINTAINS ITS BOOKS AND RECORDS ON THE ACCRUAL METHOD AND IS CHANGING THE ACCOUNTING METHOD USED TO PREPARE THE FORM 990 TO BE CONSISTENT WITH ITS BOOKS AND RECORDS. THE TRUST HAS FILED FORM 3115 TO REPORT THE CHANGE IN METHOD OF ACCOUNTING.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2019

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBullet

Attach to Form 990.
MediumBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2019

Open to Public Inspection

Name of the organization

PIPE TRADES SERVICES MN WELFARE FUND

Employer identification number

41-0761972

Part I

Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity
(1) LABOR VALUE RX LLC 4461 WHITE BEAR PKWY STE 1 WHITE BEAR LAKE,MN55110 81-2225045	PHARMACY BENEFIT MANAGEMENT COMPANY	MN	-267,010	189,753	PIPE TRADE SERVICES MN WELFARE FUND

Part II

Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1)PIPE TRADES HEALTH CARE SERVICES INC 4461 WHITE BEAR PARKWAY STE 1 WHITE BEAR LAKE,MN55110 46-1398525	HEALTHCARE SERVICES	MN	501(C)(5)	N/A	N/A		No
(2)PIPE TRADES SERVICES MN RETIREE HEALTH FUND 4461 WHITE BEAR PARKWAY STE 1 WHITE BEAR LAKE,MN55110 16-1657260	PROVIDING HEALTH AND MEDICAL BENEFITS	MN	501(C)(9)	N/A	N/A		No
(3)CITY OF MPLS PUBLIC WORKS
(4)CITY OF ST PAUL OFFICE OF HUMAN RESOURCE
(5)INDEPENDENT SCHOOL DIST 625
(6)JAC OF LOCAL 11 & 589
(7)LOCAL 015 MPLS J A C
(8)LOCAL 034 PLUMBERS
(9)LOCAL 11
(10)LOCAL 15 PLUMBERS
(11)LOCAL 34 JATC
(12)LOCAL 455 J A C
(13)LOCAL 455 PIPEFITTERS C U
(14)LOCAL 455 PIPEFITTERS
(15)LOCAL 539 MPLS PIPEFITTERS J A C
(16)LOCAL 539
(17)LOCAL 561 PLUMBERS & FITTERS
(18)LOCAL 589 UNION HALL
(19)LOCAL 6 JAC
(20)LOCAL 6
(21)MN MECHANICAL CONTRACTORS ASSOC
(22)MN PIPE TRADES ASSN
(23)MPLS PUBLIC SCHOOLS-SSD #1
(24)MUNICIPAL BLDG COMMISSION
(25)SPRINKLER FITTERS LOCAL 417 JAC OFFICE
(26)SPRINKLER FITTERS LOCAL 417

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) 2019

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets		Yes	No
(1) PIPE TRADES SERVICES MN BUILDING TRUST 4461 WHITE BEAR PARKWAY STE 1 WHITE BEAR LAKE,MN55110 41-6251939	PROPERTY RENTAL	MN	N/A	T	-37,886	1,033,592	33.330 %		No
(2) PIPE TRADES SERVICES MN INC 4461 WHITE BEAR PARKWAY STE 1 WHITE BEAR LAKE,MN55110 41-0918427	ADMINISTRATIVE SERVICES	MN	N/A	C					No
(3) 3D MECHANICAL INC
(4) A & E PLUMBING
(5) AW KUETTEL & SONS
(6) A-1 REFRIGERATION SERVICE
(7) ACCESS MECHANICAL
(8) ACI PLUMBING INC
(9) ACLARA SMART GRID SOLUTIONS LLC
(10) ADAM'S ON-TIME PLBG & WATER HTRS
(11) ADVANTAGE AIR HEATING & COOLING
(12) ADVANTAGE POINT GROUP
(13) AECOM MANAGEMENT SERVICES INC
(14) AIR CONDITIONING ASSOCIATES INC
(15) AIR MECHANICAL INC
(16) AIRCORPS LLC
(17) ALBERS MECHANICAL CONTRACTORS INC
(18) ALEXANDER PLUMBING LLC
(19) ALLAN MECHANICAL
(20) ALLIANCE MECHANICAL SVCS
(21) ALTA HEATING AND PLUMBING INC DBA CLEARW
(22) ANDERSON PLUMBING & HEATING
(23) ARCHER MECHANICAL LLC
(24) ARCHITECT MECHANICAL INC
(25) AREA MECHANICAL INC
(26) ARI MECHANICAL SERVICES INC
(27) ARMOR MECHANICAL LLC
(28) ARROW SPRINKLER INC
(29) ASSOCIATED MECH CONTRACTORS INC
(30) ATLANTIC PLANT MAINT ATTNCOLEENGLASSCOCK
(31) AUGUST WINTER & SONS INC
(32) AZCO INC
(33) BADGER STATE INC
(34) BAKER GROUP
(35) BARNES PLBG CO INC
(36) BARTYLLA PLUMBING & HEATING INC
(37) BASSETT MECHANICAL
(38) BELKNAP PLUMBING & HEATING
(39) BENDTEC INC
(40) BERG PLBG & HTG INC
(41) BHI ENERGY SPECIALTY SERVICES
(42) BILL RASCHER MECHANICAL INC
(43) BINDER HEATING & AC INC
(44) BLAYLOCK PLBG CO
(45) BREDAHL PLBG INC
(46) BRESKI PLUMBING INC
(47) BRETH-ZENZEN FIRE PROTECTION LLC
(48) BROTHERS FIRE & SECURITY
(49) BRUCE NELSON PLBG & HTG SVC
(50) BSI MECHANICAL INC
(51) BUDGET PLUMBING CORP
(52) BURNETT PLUMBING COMPANY
(53) BURN-O-MATIC MOONEY & RIDLER MECH CONT
(54) C R MEYER & SONS CO
(55) CALDWELL PLUMBING & HEATING
(56) CANDOR COMPANIES INC
(57) CARLSON BROS INC
(58) CARLSON DULUTH COMPANY
(59) CARRIER CORP
(60) CEDAR HTG & AIR CONDTG LLC
(61) CENTRAIRE HTG & AC INC
(62) CENTURY PLBG INC
(63) CHARPS LLC
(64) CHS INC
(65) CITIES 1 PLB & HTG INC
(66) CITIES COMPANIES INC
(67) CLIMATE AIR INC
(68) CLIMATE MAKERS INC
(69) CLIMATE PROS LLC
(70) COMMERCIAL PLBG & HTG INC
(71) COMMERCIAL REFRIGERATION SYSTEMS INC
(72) COMPLETE CONTROL INC
(73) CONSTRUCTION & TURNAROUND SERVICES LLC
(74) COOL AIR MECHANICAL INC
(75) CORPORATE MECHANICAL INC
(76) CORRINS PLUMBING HEATING
(77) CORVAL CONSTRUCTORS INC
(78) CROSSTOWN MECHANICAL
(79) CUSTOM REFRIGERATION
(80) DAIKIN APPLIED
(81) DAVE NELSON PLUMBING LLC
(82) DAVIS MECHANICAL SYSTEMS
(83) DAY & ZIMMERMAN NPS INC
(84) DIVISION 23 MECHANICAL SVCS INC
(85) DMC PLBG & HTG INC
(86) DO NOT USE HARRIS MECHANICAL SVCS LLC
(87) DOWNTOWN MECHANICAL LLC
(88) DYNAMIC FIRE PROTECTION INC
(89) ECO MECHANICAL SERVICES LLC
(90) EGAN COMPANIES INC DBA EGAN MECHANICAL
(91) EL JAY MECHANICAL INC
(92) EL JAY PLBG & HTG INC
(93) ELANDER MECHANICAL INC
(94) ELLINGSON TRENCHLESS LLC
(95) ERICKSON PLBG HTG & COOLG INC
(96) ESCAPE FIRE PROTECTION
(97) EVER - GREEN ENERGY LLC
(98) EXPRESS FIRE PROTECTION INC
(99) FAIRCON SVC CO
(100) FIRELINE SPRINKLER CORP
(101) FOUR STAR CONSTRUCTION INC
(102) FREEDOM MECHANICAL LLP
(103) FRONTIER FIRE PROTECTION INC
(104) G R MECHANICAL PLBG & HTG INC
(105) GALAXY MECHANICAL INC
(106) GARTNER REFRIGERATION INC
(107) GARTNER REFRIGERATION INC
(108) GENERAL HEATING AND AIR CONDITIONING
(109) GENERAL SHEET METAL
(110) GENZ-RYAN PLBG & HTG
(111) GILBERT MECHANICAL CONTRACTORS INC
(112) GO FETSCH MECHANICAL LLC
(113) GRINNELL FIRE PROTECTIONSIMPLEXGRINNELL
(114) GUARDIAN MECHANICAL SERVICE INC
(115) GUSTAFSON MECHANICAL INC
(116) H2C
(117) HARRIS MECHANICAL CONTRACTING CO
(118) HARRIS MOUNTAIN WEST LLC
(119) HARRIS ROCHESTER INC
(120) HARTY MECHANICAL INC
(121) HAYES AUTOMATION INC
(122) HAYES MECHANICAL
(123) HECIMOVICH MECHANICAL
(124) HEISEL BROTHERS INC
(125) HENGEL BROTHERINC
(126) HERO HOME SERVICES INC
(127) HOMEWORKS PLUMBING HEATING AIR
(128) HONEYWELL INC
(129) HORWITZ INC
(130) HOVDE PLBG & HTG INC
(131) HUMERATECH
(132) HUSSMANN SERVICES CORP
(133) HYBRID MECHANICAL LLC
(134) INDUSTRIAL REFRIGERATION SVC INC
(135) IRON RANGE PLUMBING & HEATING
(136) J F AHERN CO INC
(137) JAMAR
(138) JAY HAWK MECHANICAL
(139) JIM MURR PLBG INC
(140) JK MECHANICAL CONTRACTORS INC
(141) JOHNSON CONTROLS INC
(142) JRH PLUMBING LLC
(143) K&A PLUMBING LLC
(144) K PEARSON MECHANICAL LLC
(145) KB SERVICE COMPANY
(146) KLAMM MECHANICAL CONTRACTORS INC
(147) KORTECH CONSULTING LLC
(148) KRAFT MECHANICAL LLC
(149) LAKEHEAD CONSTRUCTORS INC
(150) LARSON PLBG INC
(151) LBP MECHANICAL INC
(152) LEADING EDGE MECH INC
(153) LEGACY COMPANIES INC
(154) LEGEND MECH
(155) LEVAHN BROTHERS INC
(156) LIFESAVER FIRE PROTECTION LLC
(157) LOCH MONSTER PLUMBING LLC
(158) LOUIS DEGIDIO SVCS INC
(159) LUND FOOD HOLDINGS INC
(160) LVC COMPANIES INC
(161) M & S PLUMBING INC
(162) M J ELECTRIC LLC
(163) MAG MECHANICAL
(164) MAJOR MECHANICAL INC
(165) MARKET MECHANICAL INCCLIMATE PROS
(166) MASTER MECHANICAL
(167) MCDOWALL CO
(168) MCNALLAN PLUMBING AND HEATING LLC
(169) MCQUILLAN BROS PLUMBING HEATING & AC
(170) MECHANICAL INC
(171) MEHRMAN R J & SONS INC
(172) METRO MECHANICAL CONTRACTOR
(173) METROPOLITAN AIRPORTS COMM
(174) METROPOLITAN COUNCIL WASTEWATER SERVICES
(175) MICHELS PIPELINE
(176) MID CITY MECHANICAL CORP
(177) MIDWEST FABRICATING
(178) MIDWEST FIRE PROTECTION
(179) MIKE'S CUSTOM MECHANICAL
(180) MINNESOTA CONTROL SYSTEMS LLC
(181) MK MECHANICAL INC
(182) MN LIMITED INC
(183) MN MECHANICAL SOLUTIONS INC
(184) MODERN COMPANIES
(185) MODERN HTG & AC
(186) MOOREHEAD MACHINERY & BOILER
(187) MOORHEAD MACHINERY & BOILER CO
(188) MPLS PUBLIC SCHOOLS-SSD #1
(189) MUSKA PLUMBING LLC
(190) NASSEFF MECHANICAL CONTRACTORS INC
(191) NELSON MECHANICAL INC
(192) NEW CENTURY SYSTEMS INC
(193) NEW LINE MECHANICAL INC
(194) NOAH ACQUISITION DBA BENJAMIN FRANKLIN
(195) NOOTER CONSTRUCTION
(196) NORBLOM PLBG CO
(197) NORDIC MECHANICAL SVCS INC
(198) NORMINN INDUSTRIAL LLC
(199) NORTHERN AIR CORP
(200) NORTHERN HORIZONS SOLWAY INC
(201) NORTHERN MECHANICAL CONTRACTORS
(202) NORTHERN PIPELINE CONSTR CO
(203) NORTHERN PLUMBING TECH INC
(204) NORTHERN STATES PWR CO DBA XCEL ENERGY
(205) NORTHLAND MECHANICAL
(206) NOVA FIRE PROTECTION INC
(207) O BRIEN A G PLUMBING
(208) OLSEN FIRE PROTECTION INC
(209) OLYMPIC FIRE PROTECTION
(210) OPTION ONE MECHANICAL LLC
(211) OVERLAND MECHANICAL SERVICES INC
(212) OWENS COMPANIES INC
(213) P & D MECHANICAL CONTRACTING CO
(214) P & H SERVICES CO INC
(215) P & R PLUMBING AND HEATING
(216) PAAPE BUILDING SERVICES
(217) PALEN KIMBALL COMPANY
(218) PALEN KIMBALL LLC
(219) PBBS EQUIPMENT CORP-TC DIV
(220) PELLAND SWENSON
(221) PETERSON MECHANICAL INC
(222) PETERSON SHEET METAL INC
(223) PFIFFNER HTG & AC SVC INC
(224) PHLAG MECHANICAL INC
(225) PIONEER POWER INC
(226) POWER PLUMBING LLC
(227) PREMIER HTG & AC
(228) PRO CONTROL BSG
(229) Q3 CONTRACTING
(230) R J MECHANICAL INC
(231) R M COTTON COMPANY
(232) R T MOORE CO MN INC
(233) RADOTICH INC
(234) RAPIDS PLUMBING & HEATING
(235) RASCHER PLBG & HTG
(236) RED WING PLUMBING & HEATING
(237) RICE LAKE CONSTR
(238) RICHFIELD PLBG CO
(239) RIVERSIDE MECHANICAL
(240) ROBERT GIBB AND SONS INC
(241) ROCHESTER PLUMBING & HEATING COMPANY INC
(242) ROYAL MECHANICAL INC
(243) RYAN MECHANICAL INC
(244) S&S THERMO DYNAMICS INC
(245) SCHADEGG MECHANICAL INC
(246) SCHECK INDUSTRIAL CORPORATION
(247) SCHECK MECHANICAL
(248) SCHERER PLUMBING LLC
(249) SCHULTIES PLBG INC
(250) SCHWAB VOLLHABER-LUBRATT SVC CORP
(251) SCHWICKERT INC
(252) SEITZ BROS INC
(253) SERTICH PLUMBING & HEATING
(254) SERVICE FIRE PROTECTION
(255) SHANK CONSTRUCTORS INC
(256) SHANNON'S INC
(257) SHEET METAL SOLUTIONS LLC
(258) SHIELD FIRE PROTECTION
(259) SHUBITZ PLUMBING & HEATING
(260) SIEMENS INDUSTRY INC
(261) SIGNATURE MECHANICAL INC
(262) SILVER TREE PLUMBING & HEATING LLC
(263) SIMONEAU & STERLING MIDWEST CORP
(264) SKOGEN MECHANICAL LLC
(265) SKYLINE FIRE PROTECTION
(266) SODERLIN INC
(267) SOLID REFRIGERATION
(268) SOUTHERN MINNESOTA HIGH PRESSURE PIPING
(269) SOUTH-TOWN INC DBA SOUTHTOWN REFRIGERTN
(270) SOUTHTOWN PLBG
(271) SPRIGGS PLBG & HTG
(272) SPRING PLUMBING LLC
(273) ST PAUL PLBG & HTG CO
(274) STACK BROTHERS MECHANICAL
(275) STEINHAGEN ENTERPRISES INC
(276) STEINKRAUS PLUMBING INC
(277) STEWART PLUMBING INC
(278) STRAIGHTLINE REFRIGERATION LLC
(279) SUMMIT FIRE PROTECTION INC
(280) SUN MECHANICAL INC
(281) SUN RAY PLBG & HTG INC
(282) SYSTEM TECHNOLOGY SVC INC
(283) TEAM MECHANICAL INC
(284) THE BOLDT COMPANY
(285) THERMO KING SALES & SVC INC
(286) TMS JOHNSON SERVICE LLC
(287) TOTAL FIRE PROTECTION INC
(288) TOTAL MECHANICAL SVCS INC
(289) TOTAL REFRIG & HVAC SYS LLC
(290) TRANE TECHNOLOGIES
(291) TWEETGAROT MECHANICAL INC
(292) TWIN CITY MECHANICAL
(293) TWIN CITY PIPE TRADES
(294) U OF M PAYROLL SERVICES
(295) UHL CO INC
(296) UNITED HEATING AND COOLING
(297) UNITED PIPING INC
(298) UNITED STATES MECHANICAL INC
(299) UNITED WATER & SEWER CO
(300) VIKING AUTOMATIC SPRINKLER
(301) VOGEL MECHANICAL INC
(302) VOSON PLBG INC
(303) VOSS UTILITY & PLBG INC
(304) WALDINGER CORPORATION
(305) WEIDNER'S MECHANICAL CONTRACTORS
(306) WENZEL - PLYMOUTH PLBG LLC
(307) WENZEL HTG & AIR CONDTG
(308) WINONA CONTROLS INC
(309) WOODBURY MECHANICAL
(310) WRIGLEY MECHANICAL INC
(311) YALE MECHANICAL INC

Schedule R (Form 990) 2019

Page 3

Part V

Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................

b Gift, grant, or capital contribution to related organization(s) ............................

c Gift, grant, or capital contribution from related organization(s) ............................

d Loans or loan guarantees to or for related organization(s) ............................

e Loans or loan guarantees by related organization(s) ............................

f Dividends from related organization(s) ............................

g Sale of assets to related organization(s) ............................

h Purchase of assets from related organization(s) ............................

i Exchange of assets with related organization(s) ............................

j Lease of facilities, equipment, or other assets to related organization(s) .......................

k Lease of facilities, equipment, or other assets from related organization(s) ......................

l Performance of services or membership or fundraising solicitations for related organization(s) .....................

m Performance of services or membership or fundraising solicitations by related organization(s) .................

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................

o Sharing of paid employees with related organization(s) ............................

p Reimbursement paid to related organization(s) for expenses ............................

q Reimbursement paid by related organization(s) for expenses ............................

r Other transfer of cash or property to related organization(s) ............................

s Other transfer of cash or property from related organization(s) ............................

Yes

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved

Schedule R (Form 990) 2019

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No

Schedule R (Form 990) 2019

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R. (see instructions).

Return Reference	Explanation

Schedule R (Form 990) 2019

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: TO PROVIDE ELIGIBLE PIPE TRADES MEMBERS AND THEIR DEPENDENTS WITH HEALTH AND WELFARE BENEFITS.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	8
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	8
5	Total number of individuals employed in calendar year 2019 (Part V, line 2a) ......	5	0
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, line 39 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	93,877,644	103,887,369
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	2,610,065	2,477,734
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	-238,049	1,927,131
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	96,249,660	108,292,234
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	86,255,738	92,825,675
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	0	0
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	15,084,657	17,070,454
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	101,340,395	109,896,129
19	Revenue less expenses. Subtract line 18 from line 12.......	-5,090,735	-1,603,895
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	111,468,405	115,408,452
21	Total liabilities (Part X, line 26).............	0	34,829
22	Net assets or fund balances. Subtract line 21 from line 20.....	111,468,405	115,373,623

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	PROVIDER OF HEALTH AND WELFARE BENEFITS FOR MEMBERS OF THE PIPING INDUSTRY AND THEIR DEPENDENTS.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)		(D) Reportable compensation from the organization (W-2/1099-MISC)	(E) Reportable compensation from related organizations (W-2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) JAKE PETTIT...................................................................... BOARD CHAIR	2.00 ................. 4.00	X	X	0	0	0
(2) KRISTEN OLSON...................................................................... CO-CHAIR (THRU 5/2019)	2.00 ................. 4.00	X	X	0	0	0
(3) DOUG JONES...................................................................... CO-CHAIR (BEG. 5/2019)	2.00 ................. 4.00	X	X	0	0	0
(4) JEFF HUBERTY...................................................................... TRUSTEE	2.00 ................. 4.00	X		0	0	0
(5) MIKE TIEVA...................................................................... TRUSTEE	2.00 ................. 4.00	X		0	0	0
(6) GARY THADEN...................................................................... TRUSTEE	2.00 ................. 4.00	X		0	0	0
(7) SCOTT SEATH...................................................................... TRUSTEE	2.00 ................. 4.00	X		0	0	0
(8) JOE LANE...................................................................... TRUSTEE	2.00 ................. 4.00	X		0	0	0

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	0	0	0

1a	Federated campaigns..	1a
b	Membership dues..	1b
c	Fundraising events..	1c
d	Related organizations	1d
e	Government grants (contributions)	1e

f	All other contributions, gifts, grants, and similar amounts not included above	1f

g	Noncash contributions included in lines 1a - 1f:$	1g

h Total. Add lines 1a-1f.......

		Business Code
2a	EMPLOYER CONTRIBUTIONS	900099	87,788,821	87,788,821
b	RETIREE HEALTH FUND	900099	9,788,248	9,788,248
c	SELF PAY CONTRIBUTIONS	900099	6,310,300	6,310,300
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		103,887,369

3 Investment income (including dividends, interest, and othersimilar amounts) ......			2,477,734			2,477,734
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
		(ii) Personal	(i) Real
6a	Gross rents		54,516	6a
b	Less: rental expenses		92,402	6b
c	Rental income or (loss)		-37,886	6c
d	Net rental income or (loss).......			-37,886			-37,886
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory			7a
b	Less: cost or other basis and sales expenses			7b
c	Gain or (loss)			7c
d	Net gain or (loss).........
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a	481(A) ADJUSTMENT-CASH TO ACCRUAL		900099	1,871,469	1,871,469
b	MISCELLANEOUS INCOME		900099	93,548	93,548
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			1,965,017
12	Total revenue. See instructions.....			108,292,234	105,852,386	0	2,439,848

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......	92,825,675
5	Compensation of current officers, directors, trustees, and key employees ...........
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....
9	Other employee benefits .......
10	Payroll taxes ...........
11	Fees for services (non-employees):
a	Management ......	1,671,683
b	Legal .........	65,916
c	Accounting ...........	60,635
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......	350,855
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	172,129
12	Advertising and promotion ....
13	Office expenses .......
14	Information technology ......
15	Royalties ..
16	Occupancy ...........
17	Travel ............
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..
23	Insurance ...	8,546
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	PIPE TRADES HEALTH CARE	9,671,741
b	CONTRACT ADMINISTRATIVE	4,678,987
c	PRESCRIPTION DRUGS	6,550
d	UA RECIPROCITY SYS ACCE	2,960
e	All other expenses	380,452
25	Total functional expenses. Add lines 1 through 24e	109,896,129
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			8,267,074	1	8,886,312
2	Savings and temporary cash investments .........			8,216,607	2	8,607,259
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............			0	4	7,432,401
5	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........				7
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			0	9	10,857
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	1,823
b	Less: accumulated depreciation	10b	1,183	1,005	10c	640
11	Investments—publicly traded securities .			92,564,721	11	87,656,145
12	Investments—other securities. See Part IV, line 11 .....				12
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			2,418,998	15	2,814,838
16	Total assets. Add lines 1 through 15 (must equal line 33)...			111,468,405	16	115,408,452

17	Accounts payable and accrued expenses .....	0	17	34,829
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D		25
26	Total liabilities. Add lines 17 through 25..	0	26	34,829

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........		27
28	Net assets with donor restrictions ...........		28
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....	0	29	0
30	Paid-in or capital surplus, or land, building or equipment fund ...	0	30	0
31	Retained earnings, endowment, accumulated income, or other funds	111,468,405	31	115,373,623
32	Total net assets or fund balances ...........	111,468,405	32	115,373,623
33	Total liabilities and net assets/fund balances ........	111,468,405	33	115,408,452