Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $119,500

• 2a · Program service revenue: DUES

  total $7,320,548 · related or exempt $7,320,548

• 2b · Program service revenue: BUILDING MAINTENANCE FUND

  total $56,605 · related or exempt $56,605

• 2c · Program service revenue: DUES FOR REFUND

  total $31,004 · related or exempt $31,004

• 2d · Program service revenue: APPLICATION FEES

  total $20,750 · related or exempt $20,750

• 2e · Program service revenue: LCTT TRAINING-REIMBURSEMENT

  total $17,593 · related or exempt $17,593

• 2f · All other program service revenue

  total $16,753 · related or exempt $16,753

• 3 · Investment income

  total $233,787 · excluded $233,787

• 7a · Gross sales of assets other than inventory

  other assets $1,500

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

  other assets $2,250

• 7c · Gain or loss

  other assets -$750

• 7d · Net gain or loss

  total -$750 · related or exempt -$750

• 11a · Other revenue: MISCELLANEOUS, SALE OF SHIRTS

  total $38,594 · excluded $38,594

• 11b · Other revenue: ALBAT RENTAL

  total $26,750 · excluded $26,750

• 11e · Other revenue, total

  $65,344

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $747,320

• 7 · Other salaries and wages

  total $1,295,930

• 8 · Pension plan contributions

  total $495,395

• 9 · Other employee benefits

  total $181,929

• 10 · Payroll taxes

  total $147,541

• 11b · Fees: legal

  total $21,979

• 11c · Fees: accounting

  total $32,898

• 11g · Fees: other

  total $4,178

• 12 · Advertising and promotion

  total $81,475

• 13 · Office expenses

  total $133,906

• 14 · Information technology

  total $15,821

• 16 · Occupancy

  total $83,774

• 17 · Travel

  total $104,912

• 19 · Conferences, conventions and meetings

  total $203,881

• 21 · Payments to affiliates

  total $1,827,332

• 22 · Depreciation, depletion and amortization

  total $133,722

• 23 · Insurance

  total $22,218

• 24a · Other expenses: POLITICAL DONATIONS

  total $150,000

• 24b · Other expenses: OTHER PER CAPITA

  total $60,568

• 24c · Other expenses: MEMBERS' DUES REFUND

  total $48,996

• 24d · Other expenses: DUES AND SUBSCRIPTIONS

  total $45,811

• 24e · All other expenses

  total $85,064

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,704,732 · end of year $1,523,777

• 2 · Savings and temporary cash investments

  beginning of year $8,583,286 · end of year $10,707,541

• 4 · Accounts receivable

  beginning of year $73,481 · end of year $68,227

• 8 · Inventories for sale or use

  beginning of year $41,335 · end of year $30,524

• 10a · Land, buildings and equipment: cost or other basis

  $2,579,032

• 10b · Land, buildings and equipment: accumulated depreciation

  $559,837

• 10c · Land, buildings and equipment, net

  beginning of year $1,814,071 · end of year $2,019,195

• 11 · Investments: publicly traded securities

  beginning of year $252,248 · end of year $261,359

• 12 · Investments: other securities

  beginning of year $200,000 · end of year $200,000

• 17 · Accounts payable and accrued expenses

  beginning of year $278,299 · end of year $463,285

• 31 · Retained earnings, endowment or other funds

  beginning of year $12,390,854 · end of year $14,347,338

The filer's explanations (Part III)

SCHEDULE J, PART III

ALL WAGES AND SALARIES PAID BY IBEW LOCAL 17 ARE BASED UPON COLLECTIVELY-BARGAINED AGREEMENTS. THE BUSINESS MANAGER/FINANCIAL SECRETARY'S (BM/FS) SALARY IS DETERMINED BY THE COLLECTIVE BARGAINING AGREEMENT MULTIPLIED BY A FACTOR CONTAINED IN THE LOCAL UNION'S BY-LAWS. THE BM/FS RECEIVES APPROXIMATELY 130,000 OF HIS SALARY FROM DTE ENERGY, FOR WHICH THE LOCAL REIMBURSES DTE, SO AS TO NOT REDUCE PENSION BENEFITS EARNED BY THE BM/FS DURING HIS PREVIOUS EMPLOYMENT WITH DTE.