Line Construction Benefit Fund FY2021 filing

Not tax-deductible

Lombard, ILMutual-benefit / member-servingSince 1963Mutual / membership EIN 36-6066988Revenue $1.0B in FY2021

On file with the IRSlineco.org821 Parkview Blvd, 60148-3230 · Lombard, ILTax-exempt since Jun 1964

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Provide health and welfare benefits for eligible members.

$963K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2021 · 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
6 of 6
filings with a surplus
Average surplus $156.3M a year · 14% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$963K
to officers and key staff · 0.1% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $1.22B in investments, Pt X · Ln 11–13
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$13.0M
0.9% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 18 voting members
Looks good: 10 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0B
+14% vs prior year
Spent
$822.2M
Net assets
$1.5B
By yearFY2020–FY2025
Revenue
$1.0B
FY2021▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$883.3M
FY2021$1.0B
FY2022$1.1B
FY2023$1.1B
FY2024$1.2B
FY2025$1.4B
Expenses
$822.2M
FY2021▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2020$680.9M
FY2021$822.2M
FY2022$912.9M
FY2023$1.0B
FY2024$1.1B
FY2025$1.2B
Net assets
$1.5B
FY2021▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2B
FY2021$1.5B
FY2022$1.5B
FY2023$1.7B
FY2024$1.9B
FY2025$2.1B

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1964.

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

Who runs it and what they're paid

26 people listed on the 990; $963K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$289,034Pt VII · Sec A
IT Director
$146,609Pt VII · Sec A
Director of Operations
$141,795Pt VII · Sec A
$134,438Pt VII · Sec A
Claims Manager
$132,655Pt VII · Sec A
HR Manager
$118,053Pt VII · Sec A
Trustee - Past
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Kevin Chesniak$488,000$468,000$447,231$422,727$289,034$279,672
Mary Garite$205,324$196,584$189,288$171,507$141,795$137,231
Jeffrey Marshall$175,029$167,554$160,885$153,344$146,609$142,845
Kathlyn Hames$159,832$153,079$147,054$140,241$132,655$121,884
David Mineau$159,777$153,026$147,002$140,192$134,438$128,696
Mary Hayes$140,306$134,393$129,119$123,154$118,053$113,784

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

Provides health and welfare benefits for eligible members.

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1 program · in their own filed words · FY2021
01

Provide health and welfare benefits for eligible members.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.0B
Ln 12
Fees for servicesLn 2g$987.9M
Investment incomeLn 3$19.7M
Other incomeLn 4–11$314K
Money outPt IX
$822.2M
Ln 25
Owns and owesPt X
$1.5B
net assets · Ln 32
Cash and savingsLn 1–2$164.1M
Total assetsLn 16$1.5B
LiabilitiesLn 26$13.0M
PeoplePt VI, VII
26
listed · VII A
PaidVII A6
Voting boardVI 1a18
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$987.9M
Investment incomeLn 3$19.7M
Other incomeLn 4–11$314K
Gains on assetsLn 7$5.2M
Total revenueLn 12$1.0B
Assets in detailPt X, end of year
CashLn 1$48.0M
SavingsLn 2$116.2M
Cash and savings togetherLn 1–2$164.1M
InvestmentsLn 11–13$1.22B
Land, buildings, equipmentLn 10c$330K
Other assetsLn 15$726K
Total assetsLn 16$1.5B
LiabilitiesLn 26$13.0M
Net assetsLn 32$1.5B
OperationsPt I, VI
EmployeesI 5102
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$228.9M$164.1M
InvestmentsLn 11–13$937.0M$1.22B
Land, buildings, equipmentLn 10c$344K$330K
Total assetsLn 16$1.26B$1.50B
LiabilitiesLn 26$12.1M$13.0M
Net assetsLn 32$1.24B$1.49B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$807.8M
Pay of current officers, directors and key staffLn 5$367K
Other salaries and wagesLn 7$5.6M
Pension plan contributionsLn 8$1.3M
Other employee benefitsLn 9$1.1M
Payroll taxesLn 10$532K
Legal feesLn 11b$133K
Accounting feesLn 11c$277K
Investment management feesLn 11f$996K
Other fees for servicesLn 11g$698K
Office expensesLn 13$1.4M
Information technologyLn 14$806K
OccupancyLn 16$493K
Conferences, conventions and meetingsLn 19$133K
Depreciation, depletion and amortizationLn 22$97K
InsuranceLn 23$214K
Other expenses (24a–d)Ln 24$306K
Total functional expensesLn 25$822.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4B$1.2B$170.0M$2.1B 990 PDF
FY2024 $1.2B$1.1B$104.6M$1.9B 990 PDF
FY2023 $1.1B$1.0B$97.0M$1.7B 990 PDF
FY2022 $1.1B$912.9M$178.2M$1.5B 990 PDF
FY2021 Viewing $1.0B$822.2M$185.7M$1.5B 990 PDF
FY2020 $883.3M$680.9M$202.5M$1.2B 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 FY2021 990 (6 parts)
Part I · Summary $1,007,885,123 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $867,133,525$987,884,702
I-10 Investment incomePrior year $15,909,442$19,686,107
I-11 Other revenuePrior year $277,938$314,314
I-12 Total revenuePrior year $883,320,905$1,007,885,123
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $667,315,272$807,790,246
I-15 Salaries and benefitsPrior year $8,530,045$8,908,550
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,021,127$5,517,373
I-18 Total expensesPrior year $680,866,444$822,216,169
I-19 Revenue less expensesPrior year $202,454,461$185,668,954
Part VI · Governance 10 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,007,885,123 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $987,884,702$987,884,702
VIII-3 Investment incomeExcluded from tax $14,495,026$14,495,026
VIII-7 Net gain or loss on sales of assetsExcluded from tax $5,191,081$5,191,081
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $314,314$314,314
VIII-12 Total revenueRelated to mission $987,884,702 · Unrelated business $0 · Excluded from tax $20,000,421$1,007,885,123
Part IX · Statement of functional expenses $822,216,169 across 17 lines filed
IX-4 Benefits paid to or for members$807,790,246
IX-5 Pay of current officers, directors and key staff$366,936
IX-7 Other salaries and wages$5,622,840
IX-8 Pension plan contributions$1,266,346
IX-9 Other employee benefits$1,120,808
IX-10 Payroll taxes$531,620
IX-11b Legal fees$132,609
IX-11c Accounting fees$277,230
IX-11f Investment management fees$996,053
IX-11g Other fees for services$697,595
IX-13 Office expenses$1,365,513
IX-14 Information technology$805,960
IX-16 Occupancy$492,618
IX-19 Conferences, conventions and meetings$133,312
IX-22 Depreciation, depletion and amortization$96,930
IX-23 Insurance$213,592
IX-24 Other expenses (24a–d)$305,961
IX-25 Total functional expenses$822,216,169
Part X · Balance sheet $1,499,726,971 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year −$38,950$47,984,466
X-2 Savings and temporary cash investmentsStart of year $228,889,611$116,153,757
X-4 Accounts receivableStart of year $87,795,933$113,101,632
X-9 Prepaid expenses and deferred chargesStart of year $459,608$520,565
X-10c Land, buildings and equipment, netStart of year $343,660$330,466
X-11 Publicly traded securitiesStart of year $432,628,354$359,745,911
X-12 Other securitiesStart of year $504,352,618$861,164,500
X-15 Other assetsStart of year $2,038,543$725,674
X-16 Total assetsStart of year $1,256,469,377$1,499,726,971
X-17 Accounts payable and accrued expensesStart of year $1,461,879$1,873,529
X-19 Deferred revenueStart of year $4,250,761$4,383,121
X-25 Other liabilitiesStart of year $6,353,323$6,778,758
X-26 Total liabilitiesStart of year $12,065,963$13,035,408
X-32 Total net assets or fund balancesStart of year $1,244,403,414$1,486,691,563
X-33 Total liabilities and net assetsStart of year $1,256,469,377$1,499,726,971
Part XI · Reconciliation of net assets $1,486,691,563 net assets at year end
XI-1 Total revenue$1,007,885,123
XI-2 Total expenses$822,216,169
XI-3 Revenue less expenses$185,668,954
XI-4 Net assets at start of year$1,244,403,414
XI-5 Net unrealized gains (losses) on investments$56,619,195
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,486,691,563

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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