Toledo Electrical Welfare Fund
- Assets
- $95.1m
- Revenue
- $50.0m
- Investments
- $64.3m
- Employees
- 584
- Location
- Rossford, OH
- Founding
- 04/1990
- Data as of
- 12/2023
- EIN
- 34-4441661
Organization Overview
Toledo Electrical Welfare Fund is located in Rossford, OH. The organization was established in 1990. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, Toledo Electrical Welfare Fund employed 584 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Toledo Electrical 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 12/2023, Toledo Electrical Welfare Fund generated $50.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $44.2m during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 9 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
TO PROVIDE HEALTH AND WELFRE BENEFITS TO MEMBERS AND DEPENDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TOLEDO ELECTRICAL WELFARE FUND PROVIDES HEALTH AND WELFARE BENEFITS FOR ALL ELIGIBLE MEMBERS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd T Michaelsen Mgmt Trustee | Trustee | 1 | $0 |
Roy B Grosswiler Labor Trustee | Trustee | 1 | $0 |
Thomas Enright Labor Trustee | Trustee | 1 | $0 |
Randy Bryan Labor Trustee | Trustee | 1 | $0 |
Chad Turner Mgmt Trustee | Trustee | 1 | $0 |
Sean Mccarthy Mgmt Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Express Scripts Pharmacy Benefit Manager Admin Fee | 12/30/23 | $690,951 |
American Health Holdings Utilization Management & Medical Review | 12/30/23 | $357,867 |
Included Health Inc Benefit Consulting | 12/30/23 | $314,080 |
Frontpath Health Coalition Network Access Fee & Repricing Fee | 12/30/23 | $168,621 |
Foster And Foster Inc Consulting Services | 12/30/23 | $133,085 |
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 | $47,733,979 |
| Investment income | $2,514,108 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$259,501 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,027,938 |
| 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 | $42,668,831 |
| 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 | $507,327 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $221,261 |
| Payroll taxes | $40,573 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,681 |
| Fees for services: Accounting | $58,298 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,913 |
| Fees for services: Other | $178,195 |
| Advertising and promotion | $0 |
| Office expenses | $107,066 |
| Information technology | $150,855 |
| Royalties | $0 |
| Occupancy | $30,214 |
| Travel | $29,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $59,981 |
| All other expenses | $998 |
| Total functional expenses | $44,159,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,487,466 |
| Savings and temporary cash investments | $10,999,500 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,220,151 |
| 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 | $28,438 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $64,310,828 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,269 |
| Total assets | $95,088,652 |
| Accounts payable and accrued expenses | $213,654 |
| 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 | $4,995,068 |
| Total liabilities | $5,208,722 |
| Net assets without donor restrictions | $0 |
| 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 | $89,879,930 |
| Total liabilities and net assets/fund balances | $95,088,652 |