Midwest Operating Engineers Welfare Fund FY2023 filing

Not tax-deductible

Countryside, ILMutual-benefit / member-servingSince 1953Mutual / membership EIN 36-6109395Revenue $656.8M in FY2023Latest return filed Jan 23, 2026

On file with the IRSmoefunds.com6150 Joliet Rd, 60525-3956 · Countryside, ILTax-exempt since Mar 1955

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Provide health benefits

$637K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

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
6 of 6
filings with a surplus
Average surplus $164.9M a year · 26% 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
$637K
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
<1 mo
of spending, in cash
Plus $1.75B in investments, Pt X · Ln 11–13
Fine: 0.1 months of spending in cash, plus $1.75B in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$74.9M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 12 voting members
Fine: 6 of 12 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$656.8M
+4% vs prior year
Spent
$491.9M
Net assets
$1.8B
By yearFY2020–FY2025
Revenue
$656.8M
FY2023▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$330.9M
FY2021$576.6M
FY2022$632.5M
FY2023$656.8M
FY2024$758.9M
FY2025$801.8M
Expenses
$491.9M
FY2023▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$306.0M
FY2021$396.9M
FY2022$464.2M
FY2023$491.9M
FY2024$528.1M
FY2025$580.7M
Net assets
$1.8B
FY2023▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$546.1M
FY2021$1.6B
FY2022$1.7B
FY2023$1.8B
FY2024$2.0B
FY2025$2.3B

From the FY2023 Form 990 (year ending March 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 Mar 1955.

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

Who runs it and what they're paid

19 people listed on the 990; $637K 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
Administrative Manager
$247,419Pt VII · Sec A
Communication Director
$151,762Pt VII · Sec A
Pension Manager
$122,688Pt VII · Sec A
Chief Building Engineer
$114,882Pt VII · Sec A
Trustee - Past
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Tom Bernstein$322,766$321,427$247,419$217,881$210,916$213,483
Thomas Bernstein—————$213,483
Angela McMillin$185,773—————
Kathleen Grimm———$168,715$155,312$157,807
Pamela Kowalski—$158,963$151,762$150,757$144,834$142,517
Martin D Turek—$153,981————
Michael Aprile—$153,960————
Trudy Mares$140,617$128,162————

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.

See Midwest Operating Engineers Welfare Fund executive salaries →

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, vision, dental, prescription, death, and disability benefits for eligible operating engineers and their dependents.

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1 program · in their own filed words · FY2022
01

To provide health care, vision, dental, prescription, death and disability benefits for eligible participants and their covered dependents.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$656.8M
Ln 12
Fees for servicesLn 2g$628.1M
Investment incomeLn 3$28.7M
Other incomeLn 4–11$102K
Money outPt IX
$491.9M
Ln 25
Owns and owesPt X
$1.8B
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$1.9B
LiabilitiesLn 26$74.9M
PeoplePt VI, VII
19
listed · VII A
PaidVII A4
Voting boardVI 1a12
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$628.1M
Investment incomeLn 3$28.7M
Other incomeLn 4–11$102K
Gains on assetsLn 7−$14.0M
Total revenueLn 12$656.8M
Assets in detailPt X, end of year
CashLn 1$2.3M
Cash and savings togetherLn 1–2$2.3M
Accounts receivableLn 4$54.5M
Prepaid expenses and deferred chargesLn 9$1.0M
Land, buildings, equipmentLn 10c$1.8M
InvestmentsLn 11–13$1.75B
Other assetsLn 15$51.9M
Total assetsLn 16$1.9B
LiabilitiesLn 26$74.9M
Net assetsLn 32$1.8B
OperationsPt I, VI
EmployeesI 599
VolunteersI 60
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$3.6M$2.3M
InvestmentsLn 11–13$1.70B$1.75B
Land, buildings, equipmentLn 10c$2.1M$1.8M
Total assetsLn 16$1.80B$1.87B
LiabilitiesLn 26$73.0M$74.9M
Net assetsLn 32$1.73B$1.79B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$469.0M
Pay of current officers, directors and key staffLn 5$383K
Other salaries and wagesLn 7$7.4M
Pension plan contributionsLn 8$2.8M
Other employee benefitsLn 9$3.1M
Payroll taxesLn 10$635K
Legal feesLn 11b$689K
Accounting feesLn 11c$327K
Investment management feesLn 11f$1.6M
Other fees for servicesLn 11g$464K
Office expensesLn 13$928K
Information technologyLn 14$783K
OccupancyLn 16$1.1M
Conferences, conventions and meetingsLn 19$40K
Depreciation, depletion and amortizationLn 22$533K
InsuranceLn 23$130K
Other expenses (24a–d)Ln 24$2.1M
Total functional expensesLn 25$491.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jan 23, 2026 $801.8M$580.7M$221.1M$2.3B 990 PDF
FY2024Filed with the IRS Jan 30, 2025 $758.9M$528.1M$230.8M$2.0B 990 PDF
FY2023 ViewingFiled with the IRS Feb 2, 2024 $656.8M$491.9M$165.0M$1.8B 990 PDF
FY2022Filed with the IRS Jan 24, 2023 $632.5M$464.2M$168.3M$1.7B 990 PDF
FY2021Filed with the IRS Oct 26, 2022 $576.6M$396.9M$179.7M$1.6B 990 PDF
FY2020Filed with the IRS Jan 10, 2021 $330.9M$306.0M$24.9M$546.1M 990 PDF

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 $656,841,797 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $584,660,128$628,051,537
I-10 Investment incomePrior year $47,090,091$28,688,297
I-11 Other revenuePrior year $740,670$101,963
I-12 Total revenuePrior year $632,490,889$656,841,797
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $442,035,136$468,981,532
I-15 Salaries and benefitsPrior year $13,049,889$14,283,587
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $9,151,176$8,614,626
I-18 Total expensesPrior year $464,236,201$491,879,745
I-19 Revenue less expensesPrior year $168,254,688$164,962,052
Part VI · Governance 6 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $656,841,797 across 5 lines filed
Lines not itemized here account for $802,639 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $627,248,898$627,248,898
VIII-3 Investment incomeExcluded from tax $42,693,234$42,693,234
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$14,004,937−$14,004,937
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $101,963$101,963
VIII-12 Total revenueRelated to mission $628,051,537 · Unrelated business $0 · Excluded from tax $28,790,260$656,841,797
Part IX · Statement of functional expenses $491,879,745 across 17 lines filed
IX-4 Benefits paid to or for members$468,981,532
IX-5 Pay of current officers, directors and key staff$382,982
IX-7 Other salaries and wages$7,405,534
IX-8 Pension plan contributions$2,792,351
IX-9 Other employee benefits$3,067,728
IX-10 Payroll taxes$634,992
IX-11b Legal fees$688,727
IX-11c Accounting fees$327,415
IX-11f Investment management fees$1,565,855
IX-11g Other fees for services$464,206
IX-13 Office expenses$928,473
IX-14 Information technology$783,277
IX-16 Occupancy$1,084,338
IX-19 Conferences, conventions and meetings$40,099
IX-22 Depreciation, depletion and amortization$532,582
IX-23 Insurance$129,971
IX-24 Other expenses (24a–d)$2,069,683
IX-25 Total functional expenses$491,879,745
Part X · Balance sheet $1,865,358,899 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $3,553,029$2,307,778
X-4 Accounts receivableStart of year $46,113,643$54,547,499
X-9 Prepaid expenses and deferred chargesStart of year $1,261,900$1,019,899
X-10c Land, buildings and equipment, netStart of year $2,054,713$1,765,990
X-11 Publicly traded securitiesStart of year $1,074,352,937$1,158,856,305
X-12 Other securitiesStart of year $628,526,919$594,953,692
X-15 Other assetsStart of year $48,089,546$51,907,736
X-16 Total assetsStart of year $1,803,952,687$1,865,358,899
X-17 Accounts payable and accrued expensesStart of year $19,433,501$17,636,059
X-19 Deferred revenueStart of year $5,496,197$5,378,697
X-25 Other liabilitiesStart of year $48,089,546$51,907,736
X-26 Total liabilitiesStart of year $73,019,244$74,922,492
X-29 Capital stock or trust principalStart of year $0$0
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $1,730,933,443$1,790,436,407
X-32 Total net assets or fund balancesStart of year $1,730,933,443$1,790,436,407
X-33 Total liabilities and net assetsStart of year $1,803,952,687$1,865,358,899
Part XI · Reconciliation of net assets $1,790,436,407 net assets at year end
XI-1 Total revenue$656,841,797
XI-2 Total expenses$491,879,745
XI-3 Revenue less expenses$164,962,052
XI-4 Net assets at start of year$1,730,933,443
XI-5 Net unrealized gains (losses) on investments−$105,459,088
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,790,436,407

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

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