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← IBEW LOCAL UNION NO 347 HEALTH & WELFARE FUND

Form 990 for tax year 2023

Filed by IBEW LOCAL UNION NO 347 HEALTH & WELFARE FUND.

Totals

Total revenue
$38,318,132
Total expenses
$39,624,758
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$35,985,032
Investment income
$2,321,958
Other revenue
$11,142
Total assets, end of year
$73,525,576
Total liabilities, end of year
$48,658,582
Net assets or fund balances, end of year
$24,866,994
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$39,624,758

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: PROGRAM SERVICE REVENUE

    total $35,985,032 · related or exempt $35,985,032

  • 3 · Investment income

    total $2,385,983 · excluded $2,385,983

  • 7a · Gross sales of assets other than inventory

    securities $3,270,000

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

    securities $3,334,025

  • 7c · Gain or loss

    securities -$64,025

  • 7d · Net gain or loss

    total -$64,025 · related or exempt -$64,025

  • 11a · Other revenue: STOP LOSS DIVIDENDS

    total $11,142 · related or exempt $11,142

  • 11e · Other revenue, total

    $11,142

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $37,776,141

  • 11a · Fees: management

    total $288,343

  • 11b · Fees: legal

    total $178,941

  • 11c · Fees: accounting

    total $37,973

  • 11f · Fees: investment management

    total $28,400

  • 11g · Fees: other

    total $1,180,067

  • 13 · Office expenses

    total $93,409

  • 19 · Conferences, conventions and meetings

    total $14,269

  • 23 · Insurance

    total $20,210

  • 24a · Other expenses: BANK CHARGES

    total $6,037

  • 24b · Other expenses: OTHER EXPENSES

    total $968

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $77,197 · end of year $84,808

  • 2 · Savings and temporary cash investments

    beginning of year $3,079,156 · end of year $6,361,403

  • 4 · Accounts receivable

    beginning of year $3,533,837 · end of year $4,231,724

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,370 · end of year $14,694

  • 11 · Investments: publicly traded securities

    beginning of year $50,356,059 · end of year $59,547,359

  • 12 · Investments: other securities

    beginning of year $3,569,040 · end of year $3,285,588

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,767,750 · end of year $8,369,572

  • 25 · Other liabilities

    beginning of year $36,144,624 · end of year $40,289,010

  • 27 · Net assets without donor restrictions

    beginning of year $21,716,285 · end of year $24,866,994

Mission and programs · 2023

Mission

THE PLAN AND TRUST WERE ESTABLISHED TO PROVIDE MEDICAL, DENTAL, SHORT-TERM DISABILITY BENEFITS, PRESCRIPTIONS, AND DEATH BENEFITS TO QUALIFIED PARTICIPANTS AND DEPENDENTS IN THE CENTRAL IOWA ELECTRICAL INDUSTRY. THE PLAN IS A COLLECTIVELY BARGAINED, MULTIEMPLOYER PLAN.

  • TO PROVIDE HEALTH AND WELFARE BENEFITS TO QUALIFIED PARTICIPANTS AND DEPENDENTS IN THE CENTRAL IOWA ELECTRICAL INDUSTRY.

  • TO PROVIDE DEATH BENEFITS TO THE BENEFICIARIES OF DECEASED QUALIFIED PLAN PARTICIPANTS.

  • Expenses $39,624,758

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Angela Bowersox

    TRUSTEE&SECR

    Total calculated
    $0
    Hours/week
    2

  • Jim Davis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Matt Deangelo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Shannan Garza

    ALTERNATE TR

    Total calculated
    $0
    Hours/week
    2

  • John Irving

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jamie Knutson

    ALTERNATE TR

    Total calculated
    $0
    Hours/week
    2

  • Joe Porepp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David Reid

    TRUSTEE & CH

    Total calculated
    $0
    Hours/week
    2

  • Matthew Warner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Douglas Wolf

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

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.

  • AIRCON ELECTRIC LLC

  • BAKER GROUP LLC

  • BRETON ENTERPRISES LLC

  • ELECTRICAL SPECIALISTS OF IOWA LLA

  • MIDWEST ELECTRICAL DESIGN LLC

  • MODERN ELECTRICAL SERVICES LLC

  • PREMIER ELECTRIC OF IOWA LLC

  • SYSTEMWORKS LLC

Related corporations and trusts

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

  • A&G ELECTRIC

  • ACE ELECTRICAL CONTRACTORS INC

  • ADVANCED ELECTRIC

  • ADVANTAGE POINT GROUP

  • ATLAS ELECTRIC

  • AUTOMATED SYSTEMS OF IOWA

  • AZCO INC

  • BAKER ELECTRIC

  • BALL ELECTRIC INC

  • BEMRICH ELECTRIC

  • BRITTAIN ELECTRIC INC

  • CAPITAL ELECTRIC CONSTRUCTION COMPA

  • CEC-COMPLETE ELECTRIC COMPANY

  • CENTRAL IA MECHANICAL

  • COMMONWEALTH ELEC

  • CONTROL INSTALLATIONS

  • CUPERTINO ELECTRIC INC

  • DL SMITH POWER & ELECTRIC

  • ELECTRICAL ADVANTAGE

  • ELECTRICAL COPRORATION OF AMERICA

  • ELECTRICAL POWER PRODUCTS INC

  • ESCO ELECTRIC CO

  • GURNSEY ELECTRIC

  • HAWKEYE ELECTRICAL

  • HUSSMAN SERVICES

  • KOEHLER ELECTRIC

  • MICHELS POWER INC

  • MMC CONTRACTORS IOWA

  • MORSE ELECTRIC INC

  • MUNSON ELECTRIC

  • NAT TECH

  • NEI ELECTRIC

  • NELSON ELECTRIC

  • OMAHA ELECTRIC

  • ON TIME PROFESSIONALS

  • PIEPER ELECTRIC

  • PIPING & EQUIPMENT COMPANY INC

  • PREMIER ELECTRICAL SERVICES

  • RYSE ELECTRIC

  • SEITHER & CHERRY CO

  • STEWART ELECTRIC INC

  • TRI-CITY ELECTRIC CO

  • VEC INC

  • WALDINGER CORPORATION

  • WESTPHAL & COMPANY

  • WHITE CONSTRUCTION INC

  • WINGER CONTRACTING CO

Provenance

Return type
form_990
Tax year
2023
Filed
24 September 2024
IRS schema version
2023v5.0
Source object
202402829349300905

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