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← IBEW LOCAL UNION 269 WELFARE AND SUPPLEMENTAL BENEFIT FUND

Form 990 for tax year 2022

Filed by IBEW LOCAL UNION 269 WELFARE AND SUPPLEMENTAL BENEFIT FUND.

Totals

Total revenue
$25,145,719
Total expenses
$23,969,426
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$24,540,954
Investment income
$604,765
Other revenue
$0
Total assets, end of year
$35,068,547
Total liabilities, end of year
$2,710,493
Net assets or fund balances, end of year
$32,358,054
Program services expenses (Part IX)
$23,417,736
Management and general expenses
$551,690
Fundraising expenses
$0
Program service expenses (Part III)
$23,417,736

Program services were 97.7% 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 $20,985,627 · related or exempt $20,985,627

  • 2b · Program service revenue: COBRA AND RETIREE CONT

    total $2,001,886 · related or exempt $2,001,886

  • 2c · Program service revenue: PRESCRIPTION DRUG REBA

    total $913,840 · related or exempt $913,840

  • 2d · Program service revenue: STOP LOSS REIMBURSEMEN

    total $639,601 · related or exempt $639,601

  • 3 · Investment income

    total $604,765 · related or exempt $604,765

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $23,417,736 · program services $23,417,736

  • 11a · Fees: management

    total $380,082 · management and general $380,082

  • 11b · Fees: legal

    total $47,332 · management and general $47,332

  • 11c · Fees: accounting

    total $62,175 · management and general $62,175

  • 11f · Fees: investment management

    total $26,951 · management and general $26,951

  • 11g · Fees: other

    total $8,500 · management and general $8,500

  • 13 · Office expenses

    total $14,820 · management and general $14,820

  • 23 · Insurance

    total $3,329 · management and general $3,329

  • 24a · Other expenses: PCORI FEE

    total $6,168 · management and general $6,168

  • 24b · Other expenses: OTHER

    total $2,333 · management and general $2,333

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $459,124 · end of year $1,599,216

  • 2 · Savings and temporary cash investments

    beginning of year $34,399 · end of year $24,779

  • 4 · Accounts receivable

    beginning of year $2,987,059 · end of year $2,863,797

  • 11 · Investments: publicly traded securities

    beginning of year $35,304,334 · end of year $29,783,961

  • 12 · Investments: other securities

    end of year $796,794

  • 17 · Accounts payable and accrued expenses

    beginning of year $500,789 · end of year $405,318

  • 25 · Other liabilities

    beginning of year $2,189,647 · end of year $2,305,175

  • 29 · Capital stock, trust principal or current funds

    beginning of year $36,094,480 · end of year $32,358,054

  • 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 GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS

  • PROVIDE GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS

    Expenses $23,417,736 · Revenue $25,145,719

As filed on the 2022 return.

Listed in Part VII

  • Stephen Aldrich

    TRUSTEE

    Total calculated
    $357,345
    From this org
    $0
    From related orgs
    $250,246
    Other
    $107,099
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $250,246 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $74,394 related
    Nontaxable benefits
    $0 + $32,705 related
    Filer's total
    $0 + $357,345 related

  • Wayne Deangelo

    TRUSTEE

    Total calculated
    $319,136
    From this org
    $0
    From related orgs
    $221,372
    Other
    $97,764
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $221,372 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $66,191 related
    Nontaxable benefits
    $0 + $31,573 related
    Filer's total
    $0 + $319,136 related

  • Gino A Pasqualone

    TRUSTEE

    Total calculated
    $319,136
    From this org
    $0
    From related orgs
    $221,372
    Other
    $97,764
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $221,372 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $66,191 related
    Nontaxable benefits
    $0 + $31,573 related
    Filer's total
    $0 + $319,136 related

  • Michael Nielsen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joseph Knecht Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ronald Warr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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
202313179349307211

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