Electrical Insurance Trustees FY2023 filing

Not tax-deductible

Alsip, ILMutual-benefit / member-servingSince 1930Mutual / membership EIN 36-1033970Revenue $369.1M in FY2023

On file with the IRSfundoffice.org6195 W 115th St, 60803-5153 · Alsip, ILTax-exempt since Sep 1966

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Provide medical benefits to plan participants.

$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $34.1M a year · 11% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$1.1M
to officers and key staff · 0.4% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
5 mo
of spending, in cash
Plus $627.0M in investments, Pt X · Ln 11–13
Looks good: 4.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$31.1M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 10 voting members
Looks good: 6 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$369.1M
+34% vs prior year
Spent
$280.2M
Net assets
$751.5M
By yearFY2020–FY2025
Revenue
$369.1M
FY2023▲ +34%
Tap a bar for its year
Revenue by fiscal year
FY2020$269.4M
FY2021$263.1M
FY2022$275.5M
FY2023$369.1M
FY2024$361.1M
FY2025$370.7M
Expenses
$280.2M
FY2023▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$241.3M
FY2021$273.0M
FY2022$269.6M
FY2023$280.2M
FY2024$299.3M
FY2025$341.3M
Net assets
$751.5M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$712.9M
FY2021$748.0M
FY2022$700.1M
FY2023$751.5M
FY2024$831.3M
FY2025$890.0M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1966.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

18 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director - Past
$354,607Pt VII · Sec A
Director of Information Sy
$165,956Pt VII · Sec A
Director of Accounting
$141,006Pt VII · Sec A
Executive Director - New
$131,154Pt VII · Sec A
Assistant Director of Info Systems
$111,331Pt VII · Sec A
Director of Participant Se
$110,790Pt VII · Sec A
Director of Pension
$103,400Pt VII · Sec A
Trustee - Past
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Sean Madix——$354,607$354,600$381,519$344,358
Erin Keane$286,296$277,929$131,154———
Daniel Sheffield—$165,086$165,956$152,490$151,152$134,911
Lori Seljan$148,569$141,141$141,006$130,561$135,908$121,031
Shih-Chi Chou$140,059—————
Tracy Sohst$128,197$117,810$110,790$107,248$110,608—
Kelly Hunt$115,337$106,129————
Robert Moyer$111,555—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers medical benefits to plan participants.

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Provided by the organization

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1 program · in their own filed words · FY2022
01

Provide medical, death, disability and unemployment benefits to eligible participants and dependents in accordance with provisions of the plan.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$369.1M
Ln 12
Fees for servicesLn 2g$301.4M
Investment incomeLn 3$67.7M
Other incomeLn 4–11$101K
Money outPt IX
$280.2M
Ln 25
Owns and owesPt X
$751.5M
net assets · Ln 32
Cash and savingsLn 1–2$106.8M
Total assetsLn 16$782.6M
LiabilitiesLn 26$31.1M
PeoplePt VI, VII
18
listed · VII A
PaidVII A7
Voting boardVI 1a10
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$301.4M
Investment incomeLn 3$67.7M
Other incomeLn 4–11$101K
Gains on assetsLn 7$48.4M
Total revenueLn 12$369.1M
Assets in detailPt X, end of year
CashLn 1$240K
SavingsLn 2$106.5M
Cash and savings togetherLn 1–2$106.8M
InvestmentsLn 11–13$627.0M
Land, buildings, equipmentLn 10c$15.3M
Total assetsLn 16$782.6M
LiabilitiesLn 26$31.1M
Net assetsLn 32$751.5M
OperationsPt I, VI
EmployeesI 524
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$80.0M$106.8M
InvestmentsLn 11–13$608.8M$627.0M
Land, buildings, equipmentLn 10c$9.4M$15.3M
Total assetsLn 16$729.0M$782.6M
LiabilitiesLn 26$29.0M$31.1M
Net assetsLn 32$700.1M$751.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$270.5M
Pay of current officers, directors and key staffLn 5$479K
Other salaries and wagesLn 7$1.7M
Pension plan contributionsLn 8$700K
Other employee benefitsLn 9$515K
Payroll taxesLn 10$163K
Legal feesLn 11b$325K
Accounting feesLn 11c$652K
Investment management feesLn 11f$967K
Other fees for servicesLn 11g$1.0M
Office expensesLn 13$855K
Information technologyLn 14$170K
OccupancyLn 16$813K
TravelLn 17$4K
Conferences, conventions and meetingsLn 19$70K
Depreciation, depletion and amortizationLn 22$544K
InsuranceLn 23$581K
Other expenses (24a–d)Ln 24$208K
Total functional expensesLn 25$280.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $370.7M$341.3M$29.5M$890.0M 990 PDF
FY2024 $361.1M$299.3M$61.8M$831.3M 990 PDF
FY2023 Viewing $369.1M$280.2M$88.9M$751.5M 990 PDF
FY2022 $275.5M$269.6M$6.0M$700.1M 990 PDF
FY2021 $263.1M$273.0M−$9.9M$748.0M 990 PDF
FY2020 $269.4M$241.3M$28.1M$712.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $369,143,380 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $268,350,924$301,365,574
I-10 Investment incomePrior year $6,756,435$67,676,602
I-11 Other revenuePrior year $402,518$101,204
I-12 Total revenuePrior year $275,509,877$369,143,380
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $259,976,958$270,474,238
I-15 Salaries and benefitsPrior year $3,370,579$3,529,300
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $6,207,401$6,199,664
I-18 Total expensesPrior year $269,554,938$280,203,202
I-19 Revenue less expensesPrior year $5,954,939$88,940,178
Part VI · Governance 6 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $369,143,380 across 5 lines filed
Lines not itemized here account for $114,272 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $301,251,302$301,251,302
VIII-3 Investment incomeExcluded from tax $19,238,875$19,238,875
VIII-7 Net gain or loss on sales of assetsExcluded from tax $48,437,727$48,437,727
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $101,204$101,204
VIII-12 Total revenueRelated to mission $301,365,574 · Unrelated business $0 · Excluded from tax $67,777,806$369,143,380
Part IX · Statement of functional expenses $280,203,202 across 18 lines filed
IX-4 Benefits paid to or for members$270,474,238
IX-5 Pay of current officers, directors and key staff$478,839
IX-7 Other salaries and wages$1,672,186
IX-8 Pension plan contributions$700,000
IX-9 Other employee benefits$515,348
IX-10 Payroll taxes$162,927
IX-11b Legal fees$325,276
IX-11c Accounting fees$652,283
IX-11f Investment management fees$966,852
IX-11g Other fees for services$1,009,639
IX-13 Office expenses$854,730
IX-14 Information technology$169,922
IX-16 Occupancy$813,450
IX-17 Travel$4,190
IX-19 Conferences, conventions and meetings$70,340
IX-22 Depreciation, depletion and amortization$544,237
IX-23 Insurance$581,071
IX-24 Other expenses (24a–d)$207,674
IX-25 Total functional expenses$280,203,202
Part X · Balance sheet $782,594,114 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $196,914$239,515
X-2 Savings and temporary cash investmentsStart of year $79,778,689$106,541,511
X-4 Accounts receivableStart of year $30,572,895$33,346,487
X-9 Prepaid expenses and deferred chargesStart of year $266,055$198,879
X-10c Land, buildings and equipment, netStart of year $9,410,301$15,259,676
X-12 Other securitiesStart of year $608,821,887$627,008,046
X-16 Total assetsStart of year $729,046,741$782,594,114
X-17 Accounts payable and accrued expensesStart of year $3,186,969$1,885,142
X-19 Deferred revenueStart of year $580,555$577,413
X-25 Other liabilitiesStart of year $25,218,036$28,673,743
X-26 Total liabilitiesStart of year $28,985,560$31,136,298
X-32 Total net assets or fund balancesStart of year $700,061,181$751,457,816
X-33 Total liabilities and net assetsStart of year $729,046,741$782,594,114
Part XI · Reconciliation of net assets $751,457,816 net assets at year end
XI-1 Total revenue$369,143,380
XI-2 Total expenses$280,203,202
XI-3 Revenue less expenses$88,940,178
XI-4 Net assets at start of year$700,061,181
XI-5 Net unrealized gains (losses) on investments−$37,543,543
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$751,457,816

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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