2021 Summary Annual Report

By | March 1, 2022

This is a summary for the annual report for the death benefit program (the “Plan”) for the
Widows’ and Orphans’ Aid Association of the Police Department of San Francisco (the
“Association”), EIN:94-0981411, for its plan year ending December 31, 2021. The Annual Report
has been filed with the Internal Revenue Service as required under the Employee Retirement
Income Security Act of 1974 (“ERISA”).

The Association has committed itself to pay for all claims under the terms of the Plan. The
Plan maintains an investment portfolio managed by KCM Investments/ Charles Schwab Group.

The Value of the Plan assets after subtracting liabilities of the Association was $9,511,648,
as of December 31,2021 (The Plan Year) compared to $8,487,100. As of January 1, 2021. This
increase includes unrealized appreciation and depreciation in the value of the Association’s
assets, that is, the difference between the value of the Association’s assets at the end of the
year, and the value of the assets at the beginning of the year, or the cost of assets acquired
during the year. The change in the market value of the Association’s assets during the year was
$1,024,540, during the year covered by this Summary Report, after subtracting liabilities, the
Association experienced a net increase of $327,735.

Your Rights to Additional Information

You have the right to receive a full copy of the Annual Report, or any part thereof, upon
request. The report includes the following components:

An Accountant’s Report

Assets held for Investment

Fiduciary information including transactions between the Plan and parties in interest;

(i.e., persons who specified relationships with the Plan).

Loans and other obligations which may be in default (if any);

Leases which may be in default (if any); and,

Transactions in excess of 3% of Plan assets

To obtain a full copy of the Annual Report, or any part thereof, call or write to the Widows’ and Orphans’ Aid Association, P.O. Box 4247, San Rafael, CA 94913-4247. The telephone number is 415 681-3660. The charge to copy the full report is $5.00 or %.25 per page for portions thereof.

You also have the right to receive from the Plan Administrator, upon request and at no cost, a statement of the assets and liabilities of the Plan and accompanying notes, or both, if you request a copy of the full Annual Report from the Plan Administrator, these two statements and accompanying notes are included as part of the report.

You also have the legally protected right to examine the Annual Report. We can schedule an appointment for this document examination at the San Francisco Police Officers Association 800 Bryant Street, #2, San Francisco, CA 94103. You may also examine the Annual Report at the U.S. Department of Labor in Washington D.C., or obtain a copy from the U.S. Department of Labor, upon payment of copying fees, by writing to the Public Disclosure Room N1513, Employee Benefits Security Administration (EBSA), U.S. Department of Labor, 200 Constitution Avenue, N.W. Washington D.C., 20210. The most expedient option to examine and print a copy of this report would be to query our website at ‘sfwidowsandorphans.org’. We post a copy of this Annual Report each year. I will provide a copy of the Annual Report to any member upon request.

During the Plan Year, the Association had $574,962 in total income, including $337,594 in member dues and fees, and dividends and interest of $237,368. Plan expenses were $595,000 in paid benefits to member’s beneficiaries, $19,688 in accounting and legal fees, $55,576 in net payroll, $14,705 in payroll taxes, and $11,658 in miscellaneous expenses, insurance costs, office supplies, copying, postage and mailing costs, utilities, Trustee stipends, and other incidental operating expenses.

The Association had 36 reported deaths in 2021.  The following names appear in order of notification by month, from January through December of 2021:
Ken Foss (87)
Richard Frost (77)
Norman Lee (59)
Joseph Lordan (88)
Larry Mack (57)
Wassil Rolovich (90)
Prentice Sanders (83)
Victor Silveira (52)
Steve Driskoll (89)
Frank Gau (87)
Ronald Dinslage (73)
Anthony Hartzer (68)
Tim Quan (72)
James Skinner (90)
Bruce MacDonald (77)
Randall Wardlaw (83)
Niklos Navarra (87)
William Frazier (65)
Silvia David (68)
Paul Juul (76)
Craig Piro (74)
William Gay (79)
Carl Payne (81)
Stanley Harris (87)
Matt Krimsky (62)
Stephen Ryan (58)
Thomas Tyrrell (82)
Lloyd Crosbie (91)
Joseph Vigil (84)
Ernest Howren (80)
Ronald Jackson (88)
Darol Smith (87)
John Talley (93)
Warren Yee (67)
Innocente Cisneros (91)
Ron Sheppard (77)

The Officers and Trustees for the Association for 2022 are: President Rob Forneris, Vice President Louis Barberini, Secretary Mark J. McDonough, Treasurer Dean Taylor, Trustees Ryan Walsh, Leroy Lindo, Ray Kane, Jim O’Meara and Maureen Leonard, and our Administrative Assistant is Sally Foster.

The Association was able to meet all obligations this past year. The member death benefit remains at $17,500.00. It is very important that a member beneficiary designation is current. Please call or write the Association to report a change of address or beneficiary designation. Members who currently receive a bill for annual membership dues may contact the Police Credit Union for their financial institution to arrange for automatic payment of yearly dues. The Association can be reached at 415 681-3660, or by email at ‘Widowsorphans825@gmail.com.

Mark J. McDonough
WOAA Secretary
March 1, 2022