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← IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND

Form 990 for tax year 2022

Filed by IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND.

Totals

Total revenue
$13,738,595
Total expenses
$12,283,831
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,382,811
Investment income
$355,784
Other revenue
$0
Total assets, end of year
$21,041,480
Total liabilities, end of year
$3,729,099
Net assets or fund balances, end of year
$17,312,381
Program services expenses (Part IX)
$11,932,918
Management and general expenses
$350,913
Fundraising expenses
$0
Program service expenses (Part III)
$11,932,918

Program services were 97.1% 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 $11,123,927 · related or exempt $11,123,927

  • 2b · Program service revenue: RETIREE CONTRIBUTIONS

    total $2,251,120 · related or exempt $2,251,120

  • 2c · Program service revenue: CONTRACTOR LATE FEES

    total $7,764 · related or exempt $7,764

  • 3 · Investment income

    total $355,517 · related or exempt $355,517

  • 7a · Gross sales of assets other than inventory

    securities $2,367,147

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

    securities $2,366,880

  • 7c · Gain or loss

    securities $267

  • 7d · Net gain or loss

    total $267 · related or exempt $267

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $11,932,918 · program services $11,932,918

  • 11a · Fees: management

    total $260,782 · management and general $260,782

  • 11b · Fees: legal

    total $5,918 · management and general $5,918

  • 11c · Fees: accounting

    total $37,707 · management and general $37,707

  • 11f · Fees: investment management

    total $14,362 · management and general $14,362

  • 11g · Fees: other

    total $13,250 · management and general $13,250

  • 13 · Office expenses

    total $17,237 · management and general $17,237

  • 23 · Insurance

    total $1,657 · management and general $1,657

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,516,824 · end of year $3,945,505

  • 2 · Savings and temporary cash investments

    beginning of year $47,450 · end of year $189,585

  • 4 · Accounts receivable

    beginning of year $849,391 · end of year $1,368,618

  • 11 · Investments: publicly traded securities

    beginning of year $16,972,652 · end of year $9,073,732

  • 12 · Investments: other securities

    end of year $6,464,040

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,771,718 · end of year $3,594,099

  • 25 · Other liabilities

    beginning of year $124,000 · end of year $135,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $17,490,599 · end of year $17,312,381

  • 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 $0 · end of year $0

Mission and programs · 2022

Mission

PROVIDE SUPPLEMENTAL GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS

  • PROVIDE SUPPLEMENTAL GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS

    Expenses $11,932,918 · Revenue $13,738,595

As filed on the 2022 return.

Listed in Part VII

  • Roy Foster

    TRUSTEE

    Total calculated
    $380,747
    From this org
    $0
    From related orgs
    $241,231
    Other
    $139,516
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $241,231 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $126,597 related
    Nontaxable benefits
    $0 + $12,919 related
    Filer's total
    $0 + $380,747 related

  • Daniel Cosner

    TRUSTEE

    Total calculated
    $437,843
    From this org
    $0
    From related orgs
    $277,417
    Other
    $160,426
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $277,417 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $145,107 related
    Nontaxable benefits
    $0 + $15,319 related
    Filer's total
    $0 + $437,843 related

  • Jeffery Houde

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joseph Knecht Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Thomas J Peterson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Charles Della Vecchia

    TRUSTEE

    Total calculated
    $386,827
    From this org
    $0
    From related orgs
    $241,231
    Other
    $145,596
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $241,231 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $126,597 related
    Nontaxable benefits
    $0 + $18,999 related
    Filer's total
    $0 + $386,827 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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202343179349306929

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