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Nonprofiteer
← CANTON ELECTRICAL WELFARE FUND

Form 990 for tax year 2024

Filed by CANTON ELECTRICAL WELFARE FUND.

Totals

Total revenue
$13,229,678
Total expenses
$13,437,602
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,730,095
Investment income
$490,142
Other revenue
$9,441
Total assets, end of year
$22,995,340
Total liabilities, end of year
$785,714
Net assets or fund balances, end of year
$22,209,626
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: EMPLOYER CONTRIBUTIONS

    total $9,308,859 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: PARTICIPANT CONTRIBUTIONS

    total $1,207,287 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: OFFICE AND SALARY

    total $2,213,949 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $684,942 · unrelated business $0 · excluded $684,942

  • 7a · Gross sales of assets other than inventory

    securities $11,254,384

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

    securities $11,449,184

  • 7c · Gain or loss

    securities -$194,800

  • 7d · Net gain or loss

    total -$194,800 · related or exempt -$194,800 · unrelated business $0 · excluded $0

  • 11a · Other revenue: OTHER

    total $9,441 · related or exempt $9,441 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $9,441

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $11,180,861 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $7,729 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $7,715 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $115,611 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $59,137 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $12,900 · program services $0 · management and general $0 · fundraising $0

  • 11f · Fees: investment management

    total $9,500 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $1,009,715 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $17,473 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $24,391 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $967,951 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: POSTAGE AND PRINTING EXPENSE

    total $17,448 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: RECIPROCITY EXPENSE

    total $2,547 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $4,624 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,355,941 · end of year $1,416,862

  • 2 · Savings and temporary cash investments

    beginning of year $157,778 · end of year $162,755

  • 4 · Accounts receivable

    beginning of year $1,404,910 · end of year $2,108,987

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,538 · end of year $178,594

  • 11 · Investments: publicly traded securities

    beginning of year $17,665,532 · end of year $19,128,142

  • 17 · Accounts payable and accrued expenses

    beginning of year $251,996 · end of year $137,556

  • 25 · Other liabilities

    beginning of year $248,012 · end of year $648,158

  • 29 · Capital stock, trust principal or current funds

    beginning of year $21,119,691 · end of year $22,209,626

Mission and programs · 2024

Mission

TO PROVIDE MEDICAL, VISION, DENTAL, DISABILITY, LIFE INSURANCE, AND ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS TO ELIGIBLE MEMBERS OF IBEW 540 AND THEIR FAMILIES.

  • THE ORGANIZATION PROVIDES MEDICAL, VISION, DENTAL, LIFE INSURANCE, AN ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS TO ELIGIBLE MEMBERS OF THE IBEW LOCAL UNION 540 AND THEIR MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Curt Moore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James Deckert

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Erik Hann

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Brent Fatzinger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mitch Neisel

    TRUSTEE

    Total calculated
    $7,729
    From this org
    $7,729
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Michael Hann

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Don Fox

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nathan Powell

    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
2 September 2026
IRS schema version
2024v5.2
Source object
202612459349300606

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