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← ELECTRICAL WORKERS INSURANCE BENEFIT FUND LOCAL 481

Form 990 for tax year 2023

Filed by ELECTRICAL WORKERS INSURANCE BENEFIT FUND LOCAL 481.

Totals

Total revenue
$53,581,724
Total expenses
$38,321,008
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$48,687,265
Investment income
$4,894,459
Other revenue
$0
Total assets, end of year
$187,230,122
Total liabilities, end of year
$355,042
Net assets or fund balances, end of year
$186,875,080
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: EMPLOYER CONTRIBUTIONS

    total $44,762,481 · related or exempt $44,762,481

  • 2b · Program service revenue: PARTICIPANT CONTRIBUTIONS

    total $2,788,449 · related or exempt $2,788,449

  • 2c · Program service revenue: PRESCRIPTION REBATES

    total $1,032,945 · related or exempt $1,032,945

  • 2d · Program service revenue: SUBROGATION RECOVERIES

    total $65,112 · related or exempt $65,112

  • 2e · Program service revenue: STOP LOSS REFUNDS

    total $14,713 · related or exempt $14,713

  • 2f · All other program service revenue

    total $23,565 · related or exempt $23,565

  • 3 · Investment income

    total $4,100,862 · excluded $4,100,862

  • 7a · Gross sales of assets other than inventory

    securities $34,821,082

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

    securities $34,027,485

  • 7c · Gain or loss

    securities $793,597

  • 7d · Net gain or loss

    total $793,597 · excluded $793,597

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $36,846,116

  • 5 · Compensation of officers, directors and key employees

    total $67,199

  • 7 · Other salaries and wages

    total $309,580

  • 8 · Pension plan contributions

    total $105,826

  • 9 · Other employee benefits

    total $110,480

  • 10 · Payroll taxes

    total $28,933

  • 11b · Fees: legal

    total $67,113

  • 11c · Fees: accounting

    total $39,162

  • 11f · Fees: investment management

    total $267,895

  • 11g · Fees: other

    total $90,425

  • 13 · Office expenses

    total $114,327

  • 14 · Information technology

    total $107,187

  • 16 · Occupancy

    total $25,313

  • 17 · Travel

    total $5,204

  • 19 · Conferences, conventions and meetings

    total $44,657

  • 22 · Depreciation, depletion and amortization

    total $44,200

  • 23 · Insurance

    total $30,645

  • 24a · Other expenses: PCORI FEES

    total $16,746

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,529,899 · end of year $6,245,374

  • 2 · Savings and temporary cash investments

    beginning of year $2,968,875 · end of year $14,318,536

  • 4 · Accounts receivable

    beginning of year $4,307,080 · end of year $5,999,192

  • 9 · Prepaid expenses and deferred charges

    beginning of year $47,268 · end of year $72,426

  • 10a · Land, buildings and equipment: cost or other basis

    $229,083

  • 10b · Land, buildings and equipment: accumulated depreciation

    $163,333

  • 10c · Land, buildings and equipment, net

    beginning of year $67,203 · end of year $65,750

  • 11 · Investments: publicly traded securities

    beginning of year $127,605,975 · end of year $157,286,752

  • 12 · Investments: other securities

    end of year $3,242,092

  • 17 · Accounts payable and accrued expenses

    beginning of year $187,064 · end of year $149,569

  • 19 · Deferred revenue

    beginning of year $219,366 · end of year $205,473

  • 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 $158,119,870 · end of year $186,875,080

Mission and programs · 2023

Mission

PROVIDE HEALTH BENEFITS

  • TO PROVIDE HEALTH AND WELFARE, LONG-TERM DISABILITY AND DEATH BENEFIT TO MEMBERS AND THEIR DEPENDENTS.

As filed on the 2023 return.

Listed in Part VII

  • Jeff Wheeler

    TRUSTEE

    Total calculated
    $184,097
    From this org
    $0
    From related orgs
    $113,264
    Other
    $70,833
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $112,490 related
    Bonus
    $0
    Other
    $0 + $774 related
    Deferred
    $0 + $40,432 related
    Nontaxable benefits
    $0 + $30,401 related
    Filer's total
    $0 + $184,097 related

  • Andrew Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jim Tsareff

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tim Whicker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Larry Van Tries

    ALTERNATE TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Carl Williams

    TRUSTEE

    Total calculated
    $1,481
    From this org
    $0
    From related orgs
    $1,481
    Other
    $0
    Hours/week
    1 + 1 related

  • Chris Grider

    TRUSTEE

    Total calculated
    $10,717
    From this org
    $0
    From related orgs
    $6,886
    Other
    $3,831
    Hours/week
    1 + 1 related

  • Blake Andrews

    ALTERNATE TRUSTEE

    Total calculated
    $176,367
    From this org
    $0
    From related orgs
    $107,484
    Other
    $68,883
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $106,710 related
    Bonus
    $0
    Other
    $0 + $774 related
    Deferred
    $0 + $38,482 related
    Nontaxable benefits
    $0 + $30,401 related
    Filer's total
    $0 + $176,367 related

  • David Ray

    PLAN ADMINISTRATOR

    Total calculated
    $228,329
    From this org
    $150,867
    From related orgs
    $0
    Other
    $77,462
    Hours/week
    12 + 28 related

    Schedule J breakdown matched by us

    Base
    $146,533
    Bonus
    $0
    Other
    $4,334
    Deferred
    $50,666
    Nontaxable benefits
    $26,796
    Filer's total
    $228,329

  • Whitney King

    ASSISTANT PLAN ADMINISTRATOR

    Total calculated
    $170,097
    From this org
    $105,868
    From related orgs
    $0
    Other
    $64,229
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $105,868
    Bonus
    $0
    Other
    $0
    Deferred
    $37,287
    Nontaxable benefits
    $26,942
    Filer's total
    $170,097

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

  • 3 · Approval by the board or compensation committee

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 481 SUPPLEMENTAL UNEMPLOYMENT BENEFIT PLAN

    501(C)(9) · PROVIDES SUPPLEMENTAL UNEMPLOYMENT BENEFITS TO PARTICIPANTS · IN

  • INDIANA ELECTRICAL WORKERS PENSION TRUST FUND

    401A · PROVIDES PENSION BENEFITS TO PARTICIPANTS · IN

  • IBEW LOCAL UNION 481 DEFINED CONTRIBUTION PLAN AND TRUST

    401A · PROVIDES PENSION BENEFITS TO PARTICIPANTS · IN

  • IBEW LOCAL UNION 481

    501(C)(5) · LABOR UNION · IN

  • INDIANAPOLIS ELECTRICAL JATC

    501(C)(3) · TRAINING FUND · IN

  • INDIANA PLAN FOR EQUAL EMPLOYMENT

    CONTRIBUTING EMPLOYER

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.

  • SHAMBAUGH & SON LP

    CONTRIBUTING EMPLOYER

Related corporations and trusts

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

  • ATEC ELECTRICAL CONTRACTORS

    CONTRIBUTING EMPLOYER

  • ADVANTAGE ELECTRIC SERVICES LL

    CONTRIBUTING EMPLOYER

  • ALDRIDGE ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • ALLSTAR CONTRACTING LLC

    CONTRIBUTING EMPLOYER

  • ALPHA MECHANICAL SERVICE

    CONTRIBUTING EMPLOYER

  • ATLANTIC PLANT MAINTENANCE INC

    CONTRIBUTING EMPLOYER

  • APPLE ELECTRIC

    CONTRIBUTING EMPLOYER

  • AREA WIDE ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • BANTA ELECTRICAL CONTRACTORS

    CONTRIBUTING EMPLOYER

  • B & K ELECTRICAL CONTRACTORS

    CONTRIBUTING EMPLOYER

  • BARTH ELECTRIC CO

    CONTRIBUTING EMPLOYER

  • BLOCK ELECTRIC CO INC

    CONTRIBUTING EMPLOYER

  • BMWC CONSTRUCTORS INC

    CONTRIBUTING EMPLOYER

  • BOTT ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • MADDOX ELECTRIC COMPANY INC

    CONTRIBUTING EMPLOYER

  • CACHE VALLEY ELECTRIC CO

    CONTRIBUTING EMPLOYER

  • CAPITAL ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • CARLIN ELECTRIC LLC

    CONTRIBUTING EMPLOYER

  • CENTRAL STATE

    CONTRIBUTING EMPLOYER

  • COMPLETE ELECTRICAL & COMMUN

    CONTRIBUTING EMPLOYER

  • CONNECT ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • COOPER ELECTRIC

    CONTRIBUTING EMPLOYER

  • DAVE O'MARA CONTRACTOR INC

    CONTRIBUTING EMPLOYER

  • DEBRA-KUEMPEL

    CONTRIBUTING EMPLOYER

  • JAMES H DREW CORPORATION

    CONTRIBUTING EMPLOYER

  • ELECTRICAL SPECIALISTS LLC

    CONTRIBUTING EMPLOYER

  • ELECTRICAL WORKERS BENEFIT TRU

    CONTRIBUTING EMPLOYER

  • ELECTRO DESIGN ENGINEERING

    CONTRIBUTING EMPLOYER

  • ELECTRIC PLUS INC

    CONTRIBUTING EMPLOYER

  • ERMCO INC

    CONTRIBUTING EMPLOYER

  • ESI ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • FAIRCHILD COMMUNICATION SYS

    CONTRIBUTING EMPLOYER

  • FERRILL FISHER LLC

    CONTRIBUTING EMPLOYER

  • GLENWOOD ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • GUARDIAN FIRE SYSTEMS INC

    CONTRIBUTING EMPLOYER

  • HARMESON ELECTRIC LLC

    CONTRIBUTING EMPLOYER

  • HIGH VOLTAGE MAINTENANCE CORP

    CONTRIBUTING EMPLOYER

  • HILLIARD ELECTRIC LLC

    CONTRIBUTING EMPLOYER

  • THE HOOSIER COMPANY INC

    CONTRIBUTING EMPLOYER

  • HOOSIER INDUSTRIAL ELECTRIC

    CONTRIBUTING EMPLOYER

  • HUSTON ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • HUSTON SIGN LLC

    CONTRIBUTING EMPLOYER

  • INTEGRATED POWER AND TECHNOLOG

    CONTRIBUTING EMPLOYER

  • INDUSTRIAL ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • J & J ELECTRIC OF INDIANA INC

    CONTRIBUTING EMPLOYER

  • JL ELECTRICAL SERVICES LLC

    CONTRIBUTING EMPLOYER

  • KAISER ELECTRICAL CONTRACTORS

    CONTRIBUTING EMPLOYER

  • KK HALL INC

    CONTRIBUTING EMPLOYER

  • KOCHS ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • LEYDEN ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • LINK ELECTRIC CO INC

    CONTRIBUTING EMPLOYER

  • LIVE WIRE CONSULTING INC

    CONTRIBUTING EMPLOYER

  • LONG ELECTRIC CO INC

    CONTRIBUTING EMPLOYER

  • MAJESTIC ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • MARSHALL ELECTRICAL CONTRACTIN

    CONTRIBUTING EMPLOYER

  • MARTELL ELECTRIC LLC

    CONTRIBUTING EMPLOYER

  • MAVERICK COMMUNICATIONS

    CONTRIBUTING EMPLOYER

  • MAVERICK ELECTRICAL SOLUTIONS

    CONTRIBUTING EMPLOYER

  • MILLER-EADS COMPANY INC

    CONTRIBUTING EMPLOYER

  • MILLER INFORMATION SYSTEMS

    CONTRIBUTING EMPLOYER

  • NRK INC

    CONTRIBUTING EMPLOYER

  • NUGENT ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • PALS ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • PAYNE ELECTRIC COMPANY

    CONTRIBUTING EMPLOYER

  • POTOMAC ELECTRICAL SERVICES L

    CONTRIBUTING EMPLOYER

  • PULSE ELECTRIC LLC

    CONTRIBUTING EMPLOYER

  • QUALITY CONTROLS & ELECTRICAL

    CONTRIBUTING EMPLOYER

  • R & M ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • ADT COMMERCIAL LLCRED HAWK

    CONTRIBUTING EMPLOYER

  • RELIANT ELECTRIC & SOLAR LLC

    CONTRIBUTING EMPLOYER

  • RIVERSIDE ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • SECURALL TECHNOLOGIES INC

    CONTRIBUTING EMPLOYER

  • SEXSON MECHANICAL CORPORATION

    CONTRIBUTING EMPLOYER

  • SOLAR ELECTRIC TURBINE CO LLC

    CONTRIBUTING EMPLOYER

  • STALEY SIGNS INC

    CONTRIBUTING EMPLOYER

  • STERLING INDUSTRIAL LLC

    CONTRIBUTING EMPLOYER

  • SUMMIT ELECTRICAL COMPANY LLC

    CONTRIBUTING EMPLOYER

  • SUN ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • SWAN ELECTRICAL SYSTEMS LLC

    CONTRIBUTING EMPLOYER

  • TECH ELECTRONICS OF INDIANA

    CONTRIBUTING EMPLOYER

  • TC ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • TOTAL ELECTRICAL SYSTEMS TESTI

    CONTRIBUTING EMPLOYER

  • WEB CONNECTIVITY LLC

    CONTRIBUTING EMPLOYER

  • WELLS GLOBAL WEST

    CONTRIBUTING EMPLOYER

  • WEST ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • WHITE ELECTRICAL CONSTRUCTION

    CONTRIBUTING EMPLOYER

  • WOODS ELECTRICAL CONTRACTORS I

    CONTRIBUTING EMPLOYER

  • XCEED ELECTRIC INC

    CONTRIBUTING EMPLOYER

  • XL INDUSTRIAL SERVICES INC

    CONTRIBUTING EMPLOYER

Provenance

Return type
form_990
Tax year
2023
Filed
9 September 2024
IRS schema version
2023v5.1
Source object
202402539349301420

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