International Brthd Of Elec Wrkrs & Outside Cntrctrs Hlth & Wlfr Tr Fd
- Assets
- $223.2m
- Revenue
- $28.2m
- Investments
- $137.9m
- Employees
- 42
- Location
- Tinley Park, IL
- Founding
- 09/1954
- Data as of
- 10/2023
- EIN
- 36-2261990
Organization Overview
International Brthd Of Elec Wrkrs & Outside Cntrctrs Hlth & Wlfr Tr Fd is located in Tinley Park, IL. The organization was established in 1954. 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 10/2023, International Brthd Of Elec Wrkrs & Outside Cntrctrs Hlth & Wlfr Tr Fd employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Brthd Of Elec Wrkrs & Outside Cntrctrs Hlth & Wlfr Tr Fd is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 10/2023, International Brthd Of Elec Wrkrs & Outside Cntrctrs Hlth & Wlfr Tr Fd generated $28.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $29.3m during the year ending 10/2023. 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 WELFARE BENEFITS TO INDIVIDUALS WORKING UNDER A COLLECTIVE BARGAINING AGREEMENT BETWEEN IBEW LOCAL NO. 9 AND THE MIDDLE STATES ELECTRICAL CONTRACTORS ASSOCIATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENT OF HEALTH AND WELFARE BENEFITS TO OR ON BEHALF OF ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Turk Trustee | Trustee | 2 | $0 |
John C Burkard Trustee | Trustee | 2 | $0 |
Art Burke Trustee | Trustee | 2 | $0 |
Frank Lizzadro Trustee | Trustee | 2 | $0 |
John D Dowling Trustee | Trustee | 2 | $0 |
William Niesman Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Ppo Network Provider | 10/30/23 | $721,040 |
Benesys Inc Plan Administrator | 10/30/23 | $326,950 |
Calibre Cpa Group Pllc Accountant | 10/30/23 | $174,197 |
Case Mgmt Specialists Claims Management | 10/30/23 | $177,169 |
Invesco Advisors Investment Management | 10/30/23 | $131,027 |
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 | $31,945,333 |
| Investment income | $1,446,323 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,400,163 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,197,696 |
| 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 | $27,734,201 |
| 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 | $0 |
| Fees for services: Management | $606,254 |
| Fees for services: Legal | $52,864 |
| Fees for services: Accounting | $173,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $497,963 |
| Fees for services: Other | $104,372 |
| Advertising and promotion | $0 |
| Office expenses | $112,355 |
| Information technology | $4,490 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,978 |
| Insurance | $20,252 |
| All other expenses | $0 |
| Total functional expenses | $29,331,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,114,918 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,612,593 |
| 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 | $77,105 |
| Net Land, buildings, and equipment | $23,256 |
| Investments—publicly traded securities | $62,958,754 |
| Investments—other securities | $137,920,637 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,480,425 |
| Total assets | $223,187,688 |
| Accounts payable and accrued expenses | $77,462 |
| 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 | $1,817,344 |
| Total liabilities | $1,894,806 |
| 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 | $221,292,882 |
| Total liabilities and net assets/fund balances | $223,187,688 |