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Nonprofiteer
← INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS

Form 990 for tax year 2022

Filed by INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS.

Totals

Total revenue
$160,531,941
Total expenses
$193,452,750
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$98,918,240
Investment income
$63,421,049
Other revenue
-$1,807,348
Total assets, end of year
$2,455,575,793
Total liabilities, end of year
$53,254,363
Net assets or fund balances, end of year
$2,402,321,430
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: PARTICIPANT CONTRIBUTI

    total $98,918,240 · related or exempt $98,918,240

  • 3 · Investment income

    total $34,919,859 · excluded $34,919,859

  • 7a · Gross sales of assets other than inventory

    securities $2,348,631,559

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

    securities $2,320,130,369

  • 7c · Gain or loss

    securities $28,501,190

  • 7d · Net gain or loss

    total $28,501,190 · unrelated business $3,293,601 · excluded $25,207,589

  • 11a · Other revenue: CURRENCY EXCHANGE LOSS

    total -$1,807,348 · excluded -$1,807,348

  • 11e · Other revenue, total

    -$1,807,348

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $183,090,627

  • 11b · Fees: legal

    total $187,831

  • 11c · Fees: accounting

    total $72,000

  • 11f · Fees: investment management

    total $5,080,278

  • 11g · Fees: other

    total $1,514,618

  • 23 · Insurance

    total $250

  • 24a · Other expenses: CONTRACT ADMINSTRATOR F

    total $2,700,000

  • 24b · Other expenses: UBIT TAXES

    total $802,889

  • 24c · Other expenses: MISCELLANEOUS

    total $4,257

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $402,151 · end of year $303,372

  • 2 · Savings and temporary cash investments

    beginning of year $14,660,113 · end of year $8,155,337

  • 4 · Accounts receivable

    beginning of year $5,708,415 · end of year $6,192,343

  • 9 · Prepaid expenses and deferred charges

    beginning of year $149,125 · end of year $149,125

  • 11 · Investments: publicly traded securities

    beginning of year $2,079,384,542 · end of year $2,093,576,380

  • 12 · Investments: other securities

    beginning of year $258,353,047 · end of year $336,703,905

  • 15 · Other assets

    beginning of year $13,870,410 · end of year $10,495,331

  • 17 · Accounts payable and accrued expenses

    beginning of year $846,014 · end of year $635,795

  • 19 · Deferred revenue

    beginning of year $10,290,848 · end of year $12,643,179

  • 25 · Other liabilities

    beginning of year $49,033,335 · end of year $39,975,389

  • 27 · Net assets without donor restrictions

    beginning of year $2,312,357,606 · end of year $2,402,321,430

Mission and programs · 2022

Mission

TO PROVIDE PENSION & DEATH BENEFITS TO QUALIFYING PARTICIPANTS OF THE PLAN.

Activities or mission (Part I)

TO ORGANIZE ALL WORKERS FOR THEIR MORAL, ECONOMIC, SOCIAL ADVANCEMENT, CONDITION AND STATUS.

  • PROVIDED PENSION & DEATH BENEFITS TO QUALIFYING PARTICIPANTS OF THE PLAN.

As filed on the 2022 return.

Listed in Part VII

  • Lonnie R Stephenson

    TRUSTEE

    Total calculated
    $613,254
    From this org
    $0
    From related orgs
    $480,732
    Other
    $132,522
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $433,780 related
    Bonus
    $0
    Other
    $0 + $46,952 related
    Deferred
    $0 + $114,578 related
    Nontaxable benefits
    $0 + $17,944 related
    Filer's total
    $0 + $613,254 related

  • Kenneth W Cooper

    TRUSTEE

    Total calculated
    $668,755
    From this org
    $0
    From related orgs
    $428,990
    Other
    $239,765
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $383,185 related
    Bonus
    $0
    Other
    $0 + $45,805 related
    Deferred
    $0 + $203,876 related
    Nontaxable benefits
    $0 + $35,889 related
    Filer's total
    $0 + $668,755 related

  • Paul A Noble

    TRUSTEE

    Total calculated
    $458,382
    From this org
    $0
    From related orgs
    $254,782
    Other
    $203,600
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $249,858 related
    Bonus
    $0
    Other
    $0 + $4,924 related
    Deferred
    $0 + $167,711 related
    Nontaxable benefits
    $0 + $35,889 related
    Filer's total
    $0 + $458,382 related

  • Joseph P Calabro

    TRUSTEE

    Total calculated
    $120,957
    From this org
    $0
    From related orgs
    $56,966
    Other
    $63,991
    Hours/week
    1 + 10 related

  • Myles J Calvey

    TRUSTEE

    Total calculated
    $121,478
    From this org
    $0
    From related orgs
    $57,487
    Other
    $63,991
    Hours/week
    1 + 10 related

  • Leroy J Chincio

    TRUSTEE

    Total calculated
    $120,872
    From this org
    $0
    From related orgs
    $56,881
    Other
    $63,991
    Hours/week
    1 + 10 related

  • Christopher Erickson

    TRUSTEE

    Total calculated
    $135,013
    From this org
    $0
    From related orgs
    $66,860
    Other
    $68,153
    Hours/week
    1 + 10 related

  • William W Riley

    TRUSTEE

    Total calculated
    $121,478
    From this org
    $0
    From related orgs
    $57,487
    Other
    $63,991
    Hours/week
    1 + 10 related

  • Daniel L Shirey

    TRUSTEE

    Total calculated
    $101,261
    From this org
    $0
    From related orgs
    $56,775
    Other
    $44,486
    Hours/week
    1 + 10 related

  • Frank Furco

    TRUSTEE

    Total calculated
    $82,006
    From this org
    $0
    From related orgs
    $39,103
    Other
    $42,903
    Hours/week
    1 + 10 related

  • Donald B Finn

    TRUSTEE

    Total calculated
    $73,620
    From this org
    $0
    From related orgs
    $19,344
    Other
    $54,276
    Hours/week
    1 + 10 related

  • Tom Griffiths

    TRUSTEE

    Total calculated
    $70,446
    From this org
    $0
    From related orgs
    $31,845
    Other
    $38,601
    Hours/week
    1 + 10 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
PENSION BENEFITS AS PROVIDED BY THE INTERNATIONAL CONSTITUTION OF THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS EXCEED THE IRS QUALIFIED COMPENSATION LIMITS AND ARE THEREFORE PROVIDED BY A SUPPLEMENTAL RETIREMENT PLAN ON BEHALF OF THE IBEW'S INTERNATIONAL PRESIDENT AND INTERNATIONAL SECRETARY-TREASURER.

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.

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.

  • IBEW HEADQUARTERS BUILDING LLC

    REAL ESTATE · DC

Related corporations and trusts

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

  • INDURE REAL ESTATE INVESTMENT TRUST INC

    C · INVESTMENT IN REAL ESTATE · DC · 54.75% owned · share of income -$10,379,819 · share of assets $141,110,713 · controlled entity

    Directly controlled by IBEW PENSION BENEFIT FUND

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202410819349300746

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