International Brotherhood Of Electrical Workers
- Assets
- $2.5b
- Revenue
- $160.5m
- Investments
- $336.7m
- Employees
- 0
- Location
- Washington, DC
- Founding
- 08/1940
- Data as of
- 06/2023
- EIN
- 52-0951104
Organization Overview
International Brotherhood Of Electrical Workers is located in Washington, DC. The organization was established in 1940. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. International Brotherhood Of Electrical Workers is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2023, International Brotherhood Of Electrical Workers generated $160.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $193.5m during the year ending 06/2023. While expenses have increased by 2.5% 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
TO ORGANIZE ALL WORKERS FOR THEIR MORAL, ECONOMIC, SOCIAL ADVANCEMENT, CONDITION AND STATUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED PENSION & DEATH BENEFITS TO QUALIFYING PARTICIPANTS OF THE PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lonnie R Stephenson Trustee | Trustee | 1 | $0 |
Kenneth W Cooper Trustee | Trustee | 1 | $0 |
Paul A Noble Trustee | Trustee | 1 | $0 |
Joseph P Calabro Trustee | Trustee | 1 | $0 |
Myles J Calvey Trustee | Trustee | 1 | $0 |
Leroy J Chincio Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Int'l Brotherhood Of Electrical Workers Administration | 6/29/23 | $2,900,000 |
Ullico Investment Advisors Investment Management | 6/29/23 | $1,483,744 |
Bny Mellon Custodian/admin | 6/29/23 | $1,330,132 |
Asb Capital Management Investment Management | 6/29/23 | $1,229,993 |
Loomis Sayles & Company Lp Investment Management | 6/29/23 | $711,689 |
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 | $98,918,240 |
| Investment income | $34,919,859 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,501,190 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $160,531,941 |
| 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 | $183,090,627 |
| 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 | $0 |
| Fees for services: Legal | $187,831 |
| Fees for services: Accounting | $72,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,080,278 |
| Fees for services: Other | $1,514,618 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $250 |
| All other expenses | $0 |
| Total functional expenses | $193,452,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $303,372 |
| Savings and temporary cash investments | $8,155,337 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,192,343 |
| 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 | $149,125 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,093,576,380 |
| Investments—other securities | $336,703,905 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,495,331 |
| Total assets | $2,455,575,793 |
| Accounts payable and accrued expenses | $635,795 |
| Grants payable | $0 |
| Deferred revenue | $12,643,179 |
| 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 | $39,975,389 |
| Total liabilities | $53,254,363 |
| Net assets without donor restrictions | $2,402,321,430 |
| 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 | $2,455,575,793 |