Ibew Local 150 Welfare Fund is located in Lansing, MI. The organization was established in 1959. 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 06/2021, Ibew Local 150 Welfare Fund employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ibew Local 150 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 06/2021, Ibew Local 150 Welfare Fund generated $19.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $21.2m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH BENEFITS FOR PARTICIPATING MEMBERS AND THEIR FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND WELFARE BENEFITS TO MEMBERS AND DEPENDENTS OF IBEW LOCAL 150.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jeffrey Schwingbeck Trustee | Trustee | 3 | $0 |
Jeffrey Harger Trustee | Trustee | 3 | $0 |
Lizabeth Karson Trustee | Trustee | 3 | $0 |
Robert Bodeman Trustee | Trustee | 3 | $0 |
Patrick Serzynski Trustee | Trustee | 3 | $0 |
Anthony Arnone Trustee | Trustee | 3 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Blue Crossblue Shield Il Claims Payor And Ppo | 6/29/21 | $323,153 |
Tic International Corp Admin And Claims Services | 6/29/21 | $121,056 |
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 | $17,258,032 |
Investment income | $1,519,565 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $35,287 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $19,067,344 |
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 | $20,201,622 |
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 | $31,229 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $35,691 |
Payroll taxes | $36,742 |
Fees for services: Management | $122,670 |
Fees for services: Legal | $53,956 |
Fees for services: Accounting | $20,753 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $23,558 |
Fees for services: Other | $621,479 |
Advertising and promotion | $0 |
Office expenses | $41,031 |
Information technology | $762 |
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 | $1,472 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $4,515 |
All other expenses | $0 |
Total functional expenses | $21,211,697 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $863,596 |
Savings and temporary cash investments | $7,155 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,919,083 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $40,480,873 |
Investments—other securities | $1,641,772 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $44,912,479 |
Accounts payable and accrued expenses | $20,243 |
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 | $3,792,246 |
Total liabilities | $3,812,489 |
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 | $41,099,990 |
Total liabilities and net assets/fund balances | $44,912,479 |