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← IBEW LOCAL NO 241 WELFARE BENEFITS FUND

Form 990 for tax year 2022

Filed by IBEW LOCAL NO 241 WELFARE BENEFITS FUND.

Totals

Total revenue
$3,629,590
Total expenses
$3,162,495
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,978,399
Investment income
$564,445
Other revenue
$86,746
Total assets, end of year
$10,219,252
Total liabilities, end of year
$96,902
Net assets or fund balances, end of year
$10,122,350
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$3,162,495

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 $2,889,126 · related or exempt $2,889,126

  • 2b · Program service revenue: EMPLOYEE CONTRIBUTIONS

    total $89,273 · related or exempt $89,273

  • 3 · Investment income

    total $564,445 · excluded $564,445

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $86,746 · related or exempt $86,746

  • 11e · Other revenue, total

    $86,746

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,829,880

  • 11b · Fees: legal

    total $41,325

  • 11c · Fees: accounting

    total $57,024

  • 11f · Fees: investment management

    total $12,813

  • 11g · Fees: other

    total $29,169

  • 13 · Office expenses

    total $576

  • 16 · Occupancy

    total $13,860

  • 19 · Conferences, conventions and meetings

    total $5,193

  • 24a · Other expenses: ADMINISTRATIVE FEES

    total $168,051

  • 24b · Other expenses: MISCELLANEOUS

    total $4,604

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,099,161 · end of year $915,752

  • 4 · Accounts receivable

    beginning of year $266,048 · end of year $277,373

  • 9 · Prepaid expenses and deferred charges

    beginning of year $44,186 · end of year $67,533

  • 11 · Investments: publicly traded securities

    beginning of year $9,043,225 · end of year $8,958,594

  • 17 · Accounts payable and accrued expenses

    beginning of year $133,665 · end of year $72,430

  • 19 · Deferred revenue

    beginning of year $11,716 · end of year $11,716

  • 25 · Other liabilities

    beginning of year $3,144 · end of year $12,756

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $10,304,095 · end of year $10,122,350

Mission and programs · 2022

Mission

THE PLAN PROVIDES HOSPITAL, SURGICAL, MAJOR MEDICAL, VISION AND DENTAL, LIFE AND ACCIDENTAL DEATH BENEFITS TO ELIGIBLE PARTICIPANTS.

  • ALL FUNDS ARE USED FOR LOCAL IBEW MEMBERS HOSPITAL AND MEDICAL EXPENSESINCLUDING EYE AND DENTAL.

    Expenses $3,162,495 · Revenue $3,065,145

As filed on the 2022 return.

Listed in Part VII

  • Todd Bruer

    ADMINISTRATOR

    Total calculated
    $160,284
    From this org
    $0
    From related orgs
    $97,614
    Other
    $62,670
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $97,614 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $62,670 related
    Filer's total
    $0 + $160,284 related

  • Michael Herold

    TRUSTEE

    Total calculated
    $2,015
    From this org
    $0
    From related orgs
    $2,015
    Other
    $0
    Hours/week
    0.5 + 0.5 related

  • Brian Weatherby

    TRUSTEE

    Total calculated
    $2,242
    From this org
    $0
    From related orgs
    $2,242
    Other
    $0
    Hours/week
    0.5 + 0.5 related

  • George Denmark

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Meredith Kumpon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Joshua Whitmore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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.

  • IBEW LOCAL 241

    501(C)(5) · GENERAL · NY

    Directly controlled by IBEW LOCAL 241

  • IBEW LOCAL 241 JOINT APPRENTICESHIP TRAINING PLAN

    501(C)(3) · TRAINING FUND · NY

    Directly controlled by IBEW LOCAL 241

  • IBEW LOCAL 241 DEFINED CONTRIBUTION

    401(A) · DEFINED CONTRIBUTION #002 · NY

    Directly controlled by IBEW LOCAL 241

  • IBEW LOCAL 241 PENSION PLAN

    401(A) · PENSION PLAN #001 · NY

    Directly controlled by IBEW LOCAL 241

Provenance

Return type
form_990
Tax year
2022
Filed
8 March 2024
IRS schema version
2022v5.0
Source object
202440729349300034

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