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Nonprofiteer
← INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS

Form 990 for tax year 2023

Filed by INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS.

Totals

Total revenue
$174,821,483
Total expenses
$208,150,405
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$107,027,755
Investment income
$69,378,093
Other revenue
-$1,584,365
Total assets, end of year
$2,573,431,912
Total liabilities, end of year
$55,362,028
Net assets or fund balances, end of year
$2,518,069,884
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 $107,027,755 · related or exempt $107,027,755

  • 3 · Investment income

    total $38,848,978 · excluded $38,848,978

  • 7a · Gross sales of assets other than inventory

    securities $1,607,704,365

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

    securities $1,577,175,250

  • 7c · Gain or loss

    securities $30,529,115

  • 7d · Net gain or loss

    total $30,529,115 · unrelated business $9,072,064 · excluded $21,457,051

  • 11a · Other revenue: CURRENCY EXCHANGE LOSS

    total -$1,584,365 · excluded -$1,584,365

  • 11e · Other revenue, total

    -$1,584,365

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $193,352,311

  • 11b · Fees: legal

    total $144,365

  • 11c · Fees: accounting

    total $74,800

  • 11f · Fees: investment management

    total $5,719,199

  • 11g · Fees: other

    total $2,097,435

  • 23 · Insurance

    total $112,936

  • 24a · Other expenses: UBIT TAXES

    total $3,740,415

  • 24b · Other expenses: CONTRACT ADMINSTRATOR F

    total $2,900,000

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,500

  • 24d · Other expenses: MISCELLANEOUS

    total $3,444

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $303,372 · end of year $205,669

  • 2 · Savings and temporary cash investments

    beginning of year $8,155,337 · end of year $10,257,262

  • 4 · Accounts receivable

    beginning of year $6,192,343 · end of year $6,630,384

  • 9 · Prepaid expenses and deferred charges

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

  • 11 · Investments: publicly traded securities

    beginning of year $2,093,576,380 · end of year $2,206,002,007

  • 12 · Investments: other securities

    beginning of year $336,703,905 · end of year $330,499,779

  • 15 · Other assets

    beginning of year $10,495,331 · end of year $19,687,686

  • 17 · Accounts payable and accrued expenses

    beginning of year $635,795 · end of year $957,633

  • 19 · Deferred revenue

    beginning of year $12,643,179 · end of year $13,147,019

  • 25 · Other liabilities

    beginning of year $39,975,389 · end of year $41,257,376

  • 27 · Net assets without donor restrictions

    beginning of year $2,402,321,430 · end of year $2,518,069,884

Mission and programs · 2023

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 2023 return.

Listed in Part VII

  • Lonnie R Stephenson

    TRUSTEE

    Total calculated
    $1,290,141
    From this org
    $0
    From related orgs
    $890,714
    Other
    $399,427
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $890,355 related
    Bonus
    $0
    Other
    $0 + $359 related
    Deferred
    $0 + $399,120 related
    Nontaxable benefits
    $0 + $307 related
    Filer's total
    $0 + $1,290,141 related

  • Kenneth W Cooper

    TRUSTEE

    Total calculated
    $756,577
    From this org
    $0
    From related orgs
    $498,167
    Other
    $258,410
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $448,575 related
    Bonus
    $0
    Other
    $0 + $49,592 related
    Deferred
    $0 + $231,461 related
    Nontaxable benefits
    $0 + $26,949 related
    Filer's total
    $0 + $756,577 related

  • Paul A Noble

    TRUSTEE

    Total calculated
    $730,673
    From this org
    $0
    From related orgs
    $487,332
    Other
    $243,341
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $395,694 related
    Bonus
    $0
    Other
    $0 + $91,638 related
    Deferred
    $0 + $207,452 related
    Nontaxable benefits
    $0 + $35,889 related
    Filer's total
    $0 + $730,673 related

  • Joseph P Calabro

    TRUSTEE

    Total calculated
    $124,903
    From this org
    $0
    From related orgs
    $58,978
    Other
    $65,925
    Hours/week
    1 + 10 related

  • Myles J Calvey

    TRUSTEE

    Total calculated
    $116,533
    From this org
    $0
    From related orgs
    $59,548
    Other
    $56,985
    Hours/week
    1 + 10 related

  • Leroy J Chincio

    TRUSTEE

    Total calculated
    $124,809
    From this org
    $0
    From related orgs
    $58,884
    Other
    $65,925
    Hours/week
    1 + 10 related

  • Christopher Erickson

    TRUSTEE

    Total calculated
    $139,642
    From this org
    $0
    From related orgs
    $69,232
    Other
    $70,410
    Hours/week
    1 + 10 related

  • William W Riley

    TRUSTEE

    Total calculated
    $125,473
    From this org
    $0
    From related orgs
    $59,548
    Other
    $65,925
    Hours/week
    1 + 10 related

  • Daniel L Shirey

    TRUSTEE

    Total calculated
    $118,426
    From this org
    $0
    From related orgs
    $58,770
    Other
    $59,656
    Hours/week
    1 + 10 related

  • Bill Hamilton

    TRUSTEE

    Total calculated
    $35,526
    From this org
    $0
    From related orgs
    $0
    Other
    $35,526
    Hours/week
    1 + 10 related

  • Donald B Finn

    TRUSTEE

    Total calculated
    $124,809
    From this org
    $0
    From related orgs
    $58,884
    Other
    $65,925
    Hours/week
    1 + 10 related

  • Tom Griffiths

    TRUSTEE

    Total calculated
    $96,481
    From this org
    $0
    From related orgs
    $58,481
    Other
    $38,000
    Hours/week
    1 + 10 related

  • Zachary T Cassidy

    TRUSTEE

    Total calculated
    $920
    From this org
    $0
    From related orgs
    $0
    Other
    $920
    Hours/week
    1 + 10 related

  • Mark H Cunningham

    TRUSTEE

    Total calculated
    $73,131
    From this org
    $0
    From related orgs
    $27,617
    Other
    $45,514
    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 · 54.73% owned · share of income -$17,370,438 · share of assets $123,740,275 · controlled entity

    Directly controlled by IBEW PENSION BENEFIT FUND

Provenance

Return type
form_990
Tax year
2023
Filed
15 January 2025
IRS schema version
2023v6.0
Source object
202501219349301200

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