Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: DUES

  total $6,795,695 · related or exempt $6,795,695

• 2b · Program service revenue: APPLICATION FEES

  total $69,045 · related or exempt $69,045

• 2c · Program service revenue: BUILDING MAINTENANCE FUND

  total $66,038 · related or exempt $66,038

• 2d · Program service revenue: DUES FOR REFUND

  total $25,347 · related or exempt $25,347

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

  total $13,746 · related or exempt $13,746

• 3 · Investment income

  total $21,602 · excluded $21,602

• 7a · Gross sales of assets other than inventory

  securities $67,143

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

  securities $65,659

• 7c · Gain or loss

  securities $1,484

• 7d · Net gain or loss

  total $1,484 · related or exempt $1,484

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

  total $84,210 · excluded $84,210

• 11e · Other revenue, total

  $84,210

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $524,092

• 7 · Other salaries and wages

  total $1,137,728

• 8 · Pension plan contributions

  total $402,950

• 9 · Other employee benefits

  total $163,066

• 10 · Payroll taxes

  total $117,974

• 11b · Fees: legal

  total $33,987

• 11c · Fees: accounting

  total $33,216

• 11g · Fees: other

  total $20,237

• 12 · Advertising and promotion

  total $70,825

• 13 · Office expenses

  total $110,734

• 14 · Information technology

  total $6,718

• 16 · Occupancy

  total $92,635

• 17 · Travel

  total $88,349

• 19 · Conferences, conventions and meetings

  total $198,237

• 21 · Payments to affiliates

  total $1,561,962

• 22 · Depreciation, depletion and amortization

  total $81,067

• 23 · Insurance

  total $20,192

• 24a · Other expenses: OTHER PER CAPITA

  total $69,968

• 24b · Other expenses: MEMBERS' DUES REFUND

  total $33,977

• 24c · Other expenses: BUILDING FUND

  total $27,062

• 24d · Other expenses: DUES AND SUBSCRIPTIONS

  total $20,169

• 24e · All other expenses

  total $62,273

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $1,356,793

• 2 · Savings and temporary cash investments

  beginning of year $7,120,334 · end of year $7,618,785

• 4 · Accounts receivable

  beginning of year $24,063 · end of year $57,737

• 8 · Inventories for sale or use

  beginning of year $26,548 · end of year $43,883

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

  $1,472,251

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

  $314,275

• 10c · Land, buildings and equipment, net

  beginning of year $825,828 · end of year $1,157,976

• 11 · Investments: publicly traded securities

  beginning of year $238,688 · end of year $244,234

• 12 · Investments: other securities

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

• 17 · Accounts payable and accrued expenses

  beginning of year $345,888 · end of year $390,086

• 31 · Retained earnings, endowment or other funds

  beginning of year $8,089,573 · end of year $10,289,322

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 116,000 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.