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Nonprofiteer
← IBEW NECA HEALTH AND WELFARE FUND

Form 990 for tax year 2023

Filed by IBEW NECA HEALTH AND WELFARE FUND.

Totals

Total revenue
$38,441,525
Total expenses
$35,835,186
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$35,806,470
Investment income
$2,622,266
Other revenue
$12,789
Total assets, end of year
$53,652,030
Total liabilities, end of year
$27,598,246
Net assets or fund balances, end of year
$26,053,784
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: HEALTH PLAN CONTRIBUTIONS

    total $35,806,470 · related or exempt $35,806,470

  • 3 · Investment income

    total $1,236,310 · excluded $1,236,310

  • 7a · Gross sales of assets other than inventory

    securities $47,676,256

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

    securities $46,290,300

  • 7c · Gain or loss

    securities $1,385,956

  • 7d · Net gain or loss

    total $1,385,956 · related or exempt $1,385,956

  • 11a · Other revenue: OTHER INCOME

    total $12,789 · related or exempt $12,789

  • 11e · Other revenue, total

    $12,789

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $34,872,901

  • 11a · Fees: management

    total $473,171

  • 11b · Fees: legal

    total $182,523

  • 11c · Fees: accounting

    total $41,658

  • 11f · Fees: investment management

    total $35,633

  • 11g · Fees: other

    total $77,733

  • 13 · Office expenses

    total $76,131

  • 14 · Information technology

    total $2,480

  • 19 · Conferences, conventions and meetings

    total $11,559

  • 23 · Insurance

    total $26,225

  • 24a · Other expenses: BANK FEES

    total $34,774

  • 24b · Other expenses: DUES EXPENSE

    total $398

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $227,917 · end of year $177,416

  • 4 · Accounts receivable

    beginning of year $3,399,929 · end of year $3,426,686

  • 9 · Prepaid expenses and deferred charges

    beginning of year $65,086 · end of year $66,730

  • 11 · Investments: publicly traded securities

    beginning of year $44,066,474 · end of year $49,877,895

  • 15 · Other assets

    beginning of year $83,076 · end of year $103,303

  • 17 · Accounts payable and accrued expenses

    beginning of year $550,961 · end of year $232,505

  • 25 · Other liabilities

    beginning of year $27,046,925 · end of year $27,365,741

  • 27 · Net assets without donor restrictions

    beginning of year $20,244,596 · end of year $26,053,784

Mission and programs · 2023

Mission

PROVIDE HEALTH & WELFARE BENEFITS FOR MEMBERS OF THE PLAN. THE PLAN IS A COLLECTIVELY BARGAINED, MULTIEMPLOYER PLAN.

  • THE HEALTH & WELFARE FUND PROVIDES HOSPITAL AND MEDICAL BENEFITS AS WELL AS PRESCRIPTIONS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

  • THE HEALTH & WELFARE FUND PROVIDES SHORT TERM DISABILITY BENEFITS FOR ACTIVE PARTICIPANTS WHO ARE INJURED OR SICK.

  • THE HEALTH & WELFARE FUND PROVIDES A DEATH BENEFIT FOR ACTIVE PARTICIPANTS.

As filed on the 2023 return.

Listed in Part VII

  • Barry Mayfield

    CHAIRMAN

    Total calculated
    $0

  • Tom Falcon

    SECRETARY

    Total calculated
    $0

  • Jay Ignowski

    TRUSTEE

    Total calculated
    $0

  • Mike Bunach

    TRUSTEE

    Total calculated
    $0

  • Steve Mayfield

    TRUSTEE

    Total calculated
    $0

  • Jeff Meurrens

    TRUSTEE

    Total calculated
    $0

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.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • AC THERMAL PROTECTION

  • ELECTRICAL POWERPROS LLC

  • ELECTRITECH

  • GOODRITE ELECTRIC LLC

  • JW SERVICES

  • NEW COVENANT CONSULTING LLC

  • P1 GROUP CONSTRUCTION LLC

  • TRINITY ELECTRICAL SERVICE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • A C ELECTRICAL INC

  • AC LIGHTNING PROTECTION INC

  • ABC ELECTRIC INC

  • ALLFAB ELECTRIC

  • ALTMEYER ELECTRIC INC

  • APTIM

  • AZCO INC

  • BAXTER-KENWORTHY ELEC INC

  • BURNHAM ELECTRICAL SERVICES & TECHN

  • CANON ELECTRIC INC

  • CAPITOL CITY ELECTRIC

  • COMMONWEALTH ELECTRIC CO

  • DAY ELECTRIC SERVICE INC

  • DECKER ELECTRIC

  • DOWNS ELECTRIC INC

  • EGAN COMPANY

  • ELECTRIC CO OF OMAHA

  • ELECTRICAL CORP OF AMERICA

  • ELECTRICAL SERVICE GROUP

  • ESCO ELECTRIC COMPANY

  • FISCHER ELECTRIC

  • G5 SERVICES INC

  • GATCHELL ELECTRIC INC

  • HIGH TECH ELECTRIC INC

  • HILLER ELECTRIC CO

  • HY-ELECTRIC INC

  • K ELECTRIC COMPANY INC

  • LOESS HILLS ELECTRIC

  • MEDIUM VOLTAGE SERVICES

  • MIDWEST PREFABRICATION

  • MILLER ELECTRIC COMPANY

  • MONSTER ELECTRIC

  • MONZU ELECTRIC

  • MORTENSEN ELECTRIC CO INC

  • MOTOR CITY ELECTRIC TECH

  • MOY ELECTRIC

  • NATIONAL ELECTRIC COMPANY

  • OES SYSTEM SOLUTIONS

  • OMAHA ELECTRIC SERVICE INC

  • ORTMEIER TECHNICAL SERVICE INC

  • PAYNECREST ELECTRIC

  • POWER TECH

  • RS ELECTRIC CORP

  • RAY-MARTIN

  • SACHS ELECTRIC CO

  • THOMPSON SOLUTIONS GROUP

  • TRI-CITY ELECTRIC

  • VAN ERT ELECTRIC COMPANY

  • WIRED INC

Provenance

Return type
form_990
Tax year
2023
Filed
8 July 2024
IRS schema version
2023v5.0
Source object
202422189349301802

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