International Brotherhood Of Elec Workers 683 Health & Welfare Fund
- Assets
- $35.4m
- Revenue
- $43.7m
- Investments
- $1.1m
- Employees
- 0
- Location
- Lansing, MI
- Founding
- 06/1968
- Data as of
- 05/2023
- EIN
- 31-6084152
Organization Overview
International Brotherhood Of Elec Workers 683 Health & Welfare Fund, operating under the name Workers 683 Health & Welfare Fund, is located in Lansing, MI. The organization was established in 1968. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Workers 683 Health & Welfare Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 05/2023, Workers 683 Health & Welfare Fund generated $43.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $35.4m during the year ending 05/2023. While expenses have increased by 11.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEDICAL, DENTAL, VISION, SHORT-TERM DISABILITY AND DEATH BENEFITS TO IBEW LOCAL UNION 683 MEMBERS AND DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Dew Mgmt Trustee | Trustee | 1 | $0 |
Dustin Gockenback Union Truste | Trustee | 1 | $0 |
Brian Hartshorn Mgmt Trustee | Trustee | 1 | $0 |
Michael Morey Union Truste | Trustee | 1 | $0 |
Patrick Hook Chairman | Officer | 1 | $0 |
Jeremy Ryan Secretary | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medical Mutual Services Administrative Fees | 5/30/18 | $503,879 |
Ullic The Union Labor Life Insurance Company Specific/family Stop Loss Premiums | 5/30/18 | $363,878 |
Ibew Local 683 Fringe Benefit Funds Inc Administration Fees | 5/30/18 | $132,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $42,953,613 |
| Investment income | $666,758 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,663,967 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $31,317,586 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $21,322 |
| Fees for services: Management | $1,484,824 |
| Fees for services: Legal | $88,938 |
| Fees for services: Accounting | $27,163 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,956 |
| Fees for services: Other | $159,826 |
| Advertising and promotion | $0 |
| Office expenses | $13,301 |
| Information technology | $2,480 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,765 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,878 |
| All other expenses | $0 |
| Total functional expenses | $35,407,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,410,784 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,000,884 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $173,437 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $26,391,101 |
| Investments—other securities | $1,087,930 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,329,977 |
| Total assets | $35,394,113 |
| Accounts payable and accrued expenses | $1,339,508 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,394,803 |
| Total liabilities | $4,734,311 |
| Net assets without donor restrictions | $30,659,802 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $35,394,113 |