Electrical Insurance Trustees
- Assets
- $711.7m
- Revenue
- $277.9m
- Investments
- $610.8m
- Employees
- 20
- Location
- Chicago, IL
- Founding
- 09/1966
- Data as of
- 06/2019
- EIN
- 36-1033970
Electrical Insurance Trustees Overview
Electrical Insurance Trustees is located in Chicago, IL. The organization was established in 1966. 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 06/2019, Electrical Insurance Trustees employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2019, Electrical Insurance Trustees generated $277.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $231.2m during the year ending 06/2019. While expenses have increased by 3.7% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEDICAL BENEFITS TO PLAN PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEDICAL, DEATH, DISABILITY AND UNEMPLOYMENT BENEFITS TO ELIGIBLE PARTICIPANTS AND DEPENDENTS IN ACCORDANCE WITH PROVISIONS OF THE PLAN.
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Electrical Insurance Trustees Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Madix Executive Director | Officer | 45 | $334,837 |
Daniel Sheffield Director Of Information Sy | 45 | $131,393 | |
Lori Seljan Director Of Accounting | 45 | $117,484 | |
Christopher N Mccormick Trustee | Trustee | 5 | $0 |
John P Dalton Trustee | Trustee | 5 | $0 |
Kevin Connolly Trustee | Trustee | 5 | $0 |
Electrical Insurance Trustees Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Crossblue Shield Of Illinois Medical Claims Processor | 6/29/19 | $6,690,281 |
Legacy Professionals Llp Auditing, Payroll Compliance Audits | 6/29/19 | $383,450 |
William Blair Investment Management | 6/29/19 | $318,244 |
The Segal Company Consulting | 6/29/19 | $316,331 |
Mercer Health Benefits Llc Actuary | 6/29/19 | $284,508 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $16,756,931 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,602,820 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $277,859,235 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $222,773,633 |
| Compensation of current officers, directors, key employees. | $349,416 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,205,425 |
| Pension plan accruals and contributions | $656,000 |
| Other employee benefits | $381,716 |
| Payroll taxes | $105,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $385,096 |
| Fees for services: Accounting | $528,407 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,030,487 |
| Fees for services: Other | $1,068,727 |
| Advertising and promotion | $0 |
| Office expenses | $627,250 |
| Information technology | $283,248 |
| Royalties | $0 |
| Occupancy | $593,382 |
| Travel | $11,298 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,149 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $483,037 |
| Insurance | $430,367 |
| All other expenses | $0 |
| Total functional expenses | $231,161,812 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$100,153 |
| Savings and temporary cash investments | $73,739,945 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,292,898 |
| 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 | $149,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $610,761,572 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $711,659,007 |
| Accounts payable and accrued expenses | $3,982,590 |
| Grants payable | $0 |
| Deferred revenue | $642,097 |
| 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 | $23,267,851 |
| Total liabilities | $27,892,538 |
| 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 |
| Total liabilities and net assets/fund balances | $683,766,469 |
Electrical Insurance Trustees Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Line Construction Benefit Fund Lombard, IL | $995,310,310 | $745,010,038 |
Wea Insurance Corporation Madison, WI | $712,836,642 | $615,393,234 |
Safeway Inc Welfare Benefit Tr Chicago, IL | $0 | $500,055,601 |
Exelon Corporation Employees Benefit Trust Chicago, IL | $43,559,127 | $497,549,343 |
United Airlines Employee Sick Leave Tr Chicago, IL | $38,452,063 | $380,552,286 |
Caterpillar Inc Group Insurance Master Trust Agreement Chicago, IL | $255,709,869 | $246,707,757 |
Christian Brothers Employee Benefit Trust Romeoville, IL | $177,676,687 | $317,215,302 |
Ascension Welfare Benefits Trust St Louis, MO | $185,079,173 | $324,182,954 |
Midwest Operating Engineers Welfare Fund Countryside, IL | $570,825,851 | $330,851,269 |
Concordia Health Plan St Louis, MO | $185,239,752 | $266,059,390 |
Chicago District Council Of Carpenters Welfare Fund Chicago, IL | $918,215,522 | $305,952,757 |
Electrical Insurance Trustees Chicago, IL | $711,659,007 | $277,859,235 |
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