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← INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS 17 WELFARE FUND

Form 990 for tax year 2023

Filed by INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS 17 WELFARE FUND.

Totals

Total revenue
$53,651,435
Total expenses
$41,165,654
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$43,404,131
Investment income
$5,943,391
Other revenue
$4,303,913
Total assets, end of year
$107,982,101
Total liabilities, end of year
$19,569,816
Net assets or fund balances, end of year
$88,412,285
Program services expenses (Part IX)
$40,234,975
Management and general expenses
$930,679
Fundraising expenses
$0
Program service expenses (Part III)
$40,234,975

Program services were 97.7% 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 $42,344,895 · related or exempt $42,344,895

  • 2b · Program service revenue: PARTICIPANT CONTRIBUTIONS

    total $1,059,236 · related or exempt $1,059,236

  • 3 · Investment income

    total $6,185,554 · excluded $6,185,554

  • 7a · Gross sales of assets other than inventory

    securities $2,455,021

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

    securities $2,697,184

  • 7c · Gain or loss

    securities -$242,163

  • 7d · Net gain or loss

    total -$242,163 · excluded -$242,163

  • 11a · Other revenue: STOP LOSS REIMBURSEMENT

    total $4,049,103 · excluded $4,049,103

  • 11b · Other revenue: SETTLEMENT CLAIM

    total $194,460 · excluded $194,460

  • 11c · Other revenue: LIQUIDATED DAMAGES

    total $30,546 · excluded $30,546

  • 11d · All other revenue

    total $29,804 · excluded $29,804

  • 11e · Other revenue, total

    $4,303,913

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $40,234,975 · program services $40,234,975

  • 11a · Fees: management

    total $328,819 · management and general $328,819

  • 11b · Fees: legal

    total $111,822 · management and general $111,822

  • 11c · Fees: accounting

    total $80,084 · management and general $80,084

  • 11f · Fees: investment management

    total $30,120 · management and general $30,120

  • 11g · Fees: other

    total $8,600 · management and general $8,600

  • 13 · Office expenses

    total $249,472 · management and general $249,472

  • 19 · Conferences, conventions and meetings

    total $1,241 · management and general $1,241

  • 23 · Insurance

    total $25,515 · management and general $25,515

  • 24a · Other expenses: CLAIMS TAXES AND FEES

    total $95,006 · management and general $95,006

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $10,318,318 · end of year $10,225,706

  • 4 · Accounts receivable

    beginning of year $3,780,324 · end of year $5,381,652

  • 9 · Prepaid expenses and deferred charges

    beginning of year $74,676 · end of year $63,521

  • 11 · Investments: publicly traded securities

    beginning of year $82,224,674 · end of year $92,311,222

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,598,740 · end of year $1,517,924

  • 25 · Other liabilities

    beginning of year $19,343,963 · end of year $18,051,892

  • 31 · Retained earnings, endowment or other funds

    beginning of year $75,455,289 · end of year $88,412,285

Mission and programs · 2023

Mission

TO PROVIDE HEALTH CARE AND LIFE INSURANCE BENEFITS TO LOCAL 17 MEMBERS AND THEIR BENEFICIARIES PURSUANT TO A COLLECTIVELY BARGAINED AGREEMENT UNDER A JOINTLY ADMINISTERED TAFT HARLEY TRUST FUND.

  • TO PROVIDE HEALTH CARE AND LIFE INSURANCE BENEFITS TO LOCAL 17 MEMBERS AND THEIR BENEFICIARIES PURSUANT TO A COLLECTIVELY BARGAINED AGREEMENT UNDER A JOINTLY ADMINISTERED TAFT HARLEY TRUST FUND.

    Expenses $40,234,975 · Revenue $43,404,131

As filed on the 2023 return.

Listed in Part VII

  • Michael Kozlowski

    CHAIRMAN

    Total calculated
    $228,525
    From this org
    $0
    From related orgs
    $168,351
    Other
    $60,174
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $168,351 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $60,174 related
    Filer's total
    not reported + $228,525 related

  • Anthony Rau

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • James Shaw

    TRUSTEE

    Total calculated
    $221,314
    From this org
    $0
    From related orgs
    $195,625
    Other
    $25,689
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $195,625 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $25,689 related
    Filer's total
    not reported + $221,314 related

  • Michael Pittman

    TRUSTEE

    Total calculated
    $228,525
    From this org
    $0
    From related orgs
    $168,351
    Other
    $60,174
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $168,351 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $60,174 related
    Filer's total
    not reported + $228,525 related

  • Adam Segers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Darrin Ferguson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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
2023
Filed
6 June 2025
IRS schema version
2023v6.0
Source object
202521569349301107

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