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← NECA-IBEW LOCAL 364 WELFARE TRUST

Form 990 for tax year 2022

Filed by NECA-IBEW LOCAL 364 WELFARE TRUST.

Totals

Total revenue
$28,517,094
Total expenses
$18,088,509
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,124,570
Investment income
$1,392,524
Other revenue
$0
Total assets, end of year
$38,654,958
Total liabilities, end of year
$4,172,190
Net assets or fund balances, end of year
$34,482,768
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$18,088,509

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: EMPLOYER CONTRIBUTIONS

    total $25,735,220 · related or exempt $25,735,220

  • 2b · Program service revenue: PARTICIPANT CONTRIBUTIONS

    total $1,389,350 · related or exempt $1,389,350

  • 3 · Investment income

    total $772,473 · excluded $772,473

  • 7a · Gross sales of assets other than inventory

    securities $5,551,482

  • 7b · Less cost or other basis and sales expenses

    securities $4,931,431

  • 7c · Gain or loss

    securities $620,051

  • 7d · Net gain or loss

    total $620,051 · excluded $620,051

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $15,871,187

  • 10 · Payroll taxes

    total $1,293

  • 11b · Fees: legal

    total $19,902

  • 11c · Fees: accounting

    total $28,722

  • 13 · Office expenses

    total $60,242

  • 16 · Occupancy

    total $14,037

  • 19 · Conferences, conventions and meetings

    total $11,134

  • 23 · Insurance

    total $8,531

  • 24a · Other expenses: STOP LOSS INSURANCE

    total $1,042,417

  • 24b · Other expenses: UTILIZATION REVIEW & PPO

    total $468,470

  • 24c · Other expenses: CLAIMS PROCESSING

    total $254,903

  • 24d · Other expenses: ADMINISTRATION

    total $186,991

  • 24e · All other expenses

    total $120,680

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,870,450 · end of year $7,425,755

  • 2 · Savings and temporary cash investments

    beginning of year $47,736 · end of year $29,437

  • 4 · Accounts receivable

    beginning of year $2,979,010 · end of year $4,103,423

  • 9 · Prepaid expenses and deferred charges

    beginning of year $149,230 · end of year $152,296

  • 11 · Investments: publicly traded securities

    beginning of year $19,010,955 · end of year $26,944,047

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,870,925 · end of year $4,162,298

  • 25 · Other liabilities

    beginning of year $16,896 · end of year $9,892

  • 31 · Retained earnings, endowment or other funds

    beginning of year $23,169,560 · end of year $34,482,768

Mission and programs · 2022

Mission

PROVIDE BENEFITS TO ELIGIBLE MEMBERS.

  • PAYMENTS OF MEDICAL, DENTAL, VISION, DISABILITY, LIFE, AND ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS TO ELIGIBLE MEMBERS AND DEPENDENTS.

    Expenses $18,088,509

As filed on the 2022 return.

Listed in Part VII

  • Patrick Tomlin

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • John Robinson

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Alan Golden

    TRUSTEE

    Total calculated
    $206,363
    From this org
    $0
    From related orgs
    $125,930
    Other
    $80,433
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    not reported + $125,930 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $80,433 related
    Filer's total
    not reported + $206,363 related

  • John Larson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jim Lee

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David Cargill

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 4 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
25 July 2024
IRS schema version
2022v5.0
Source object
202432129349300408

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