Electrical Workers' Insurance Fund

Not tax-deductible

Warren, MIMutual-benefit / member-servingSince 1951EIN 38-1393235Revenue $92.8M in FY2025

On file with the IRSewjbt.org2277 E Eleven Mile Rd, 48092-5217 · Warren, MITax-exempt since Jun 1954

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The Fund was established by collective-bargaining between ibew local 58 and smc neca to provide health Insurance to member electricians and their families. Over 5,900 participants and 6,700 beneficiaries & dependents benefit.

100¢ of each $1 spent went to programs.
$678K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · 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
2 of 6
filings with a surplus
Average deficit $2.0M a year · 3% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$678K
to officers and key staff · 0.8% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.3M
1.0% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$92.8M
+14% vs prior year
Spent
$88.6M
To programs
100%
Net assets
$134.3M
By yearFY2020–FY2025
Revenue
$92.8M
FY2025▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$66.1M
FY2021$72.6M
FY2022$68.2M
FY2023$71.6M
FY2024$81.5M
FY2025$92.8M
Expenses
$88.6M
FY2025▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$66.2M
FY2021$74.1M
FY2022$80.5M
FY2023$74.9M
FY2024$80.3M
FY2025$88.6M
Net assets
$134.3M
FY2025▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$143.4M
FY2021$147.9M
FY2022$115.7M
FY2023$115.8M
FY2024$128.8M
FY2025$134.3M

From the FY2025 Form 990 (year ending September 2025) · 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 1954.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $88.6M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $678K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Benefits Dir
$399,173Pt VII · Sec A
Asst Benefit
$168,349Pt VII · Sec A
Accountant
$110,800Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
E Craig Young$399,173$381,950$350,000$273,812$270,565$265,000
Michele Davis$168,349$146,500$138,000$123,750$116,200—
Sarah Padgett—$144,524—$121,500——
Jessica Cyprus$110,800$102,625————
William Darish—$1————

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides health insurance to member electricians and their families.

Questions for Electrical Workers' Insurance Fund

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Provided by the organization

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1 program · $88.6M · in their own filed words · FY2024
01

The fund provides health benefits to over 12,600 participants, dependents and beneficiaries.

$88.6Mprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$92.8M
Ln 12
Fees for servicesLn 2g$83.2M
Investment incomeLn 3$8.6M
Other incomeLn 4–11$1.1M
Money outPt IX
$88.6M
Ln 25
Programscol B$88.6M
Owns and owesPt X
$134.3M
net assets · Ln 32
Cash and savingsLn 1–2$3.7M
Total assetsLn 16$135.6M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$83.2M
Investment incomeLn 3$8.6M
Other incomeLn 4–11$1.1M
Gains on assetsLn 7$4.0M
Total revenueLn 12$92.8M
Assets in detailPt X, end of year
CashLn 1$350
SavingsLn 2$3.7M
Cash and savings togetherLn 1–2$3.7M
InvestmentsLn 11–13$127.8M
Land, buildings, equipmentLn 10c$868
Other assetsLn 15$810K
Total assetsLn 16$135.6M
LiabilitiesLn 26$1.3M
Net assetsLn 32$134.3M
OperationsPt I, VI
EmployeesI 514
Fiscal year endsHeaderSeptember
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 FY25End FY25
Cash and savingsLn 1–2$1.9M$3.7M
InvestmentsLn 11–13$124.1M$127.8M
Land, buildings, equipmentLn 10c$1K$868
Total assetsLn 16$130.2M$135.6M
LiabilitiesLn 26$1.4M$1.3M
Net assetsLn 32$128.8M$134.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$86.2M
Pay of current officers, directors and key staffLn 5$399K
Other salaries and wagesLn 7$1.1M
Pension plan contributionsLn 8$148K
Other employee benefitsLn 9$81K
Payroll taxesLn 10$38K
Legal feesLn 11b$51K
Accounting feesLn 11c$55K
Investment management feesLn 11f$290K
Other fees for servicesLn 11g$35K
Advertising and promotionLn 12$30K
Office expensesLn 13$44K
Information technologyLn 14$66K
OccupancyLn 16$35K
Depreciation, depletion and amortizationLn 22$550
InsuranceLn 23$9K
Total functional expensesLn 25$88.6M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $92.8M$88.6M$4.2M$134.3M 990 PDF
FY2024 $81.5M$80.3M$1.1M$128.8M 990 PDF
FY2023 $71.6M$74.9M−$3.4M$115.8M 990 PDF
FY2022 $68.2M$80.5M−$12.3M$115.7M 990 PDF
FY2021 $72.6M$74.1M−$1.5M$147.9M 990 PDF
FY2020 $66.1M$66.2M−$112K$143.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $92,786,165 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $76,254,303$83,159,463
I-10 Investment incomePrior year $4,147,958$8,562,888
I-11 Other revenuePrior year $1,058,025$1,063,814
I-12 Total revenuePrior year $81,460,286$92,786,165
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $77,838,924$86,154,469
I-15 Salaries and benefitsPrior year $1,826,001$1,809,370
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $655,514$614,553
I-18 Total expensesPrior year $80,320,439$88,578,392
I-19 Revenue less expensesPrior year $1,139,847$4,207,773
Part VI · Governance 0 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
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 $92,786,165 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $83,159,463$83,159,463
VIII-3 Investment incomeExcluded from tax $4,586,683$4,586,683
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,976,205$3,976,205
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,063,814$1,063,814
VIII-12 Total revenueRelated to mission $87,135,668 · Excluded from tax $5,650,497$92,786,165
Part IX · Statement of functional expenses $88,578,392 across 16 lines filed
IX-4 Benefits paid to or for members$86,154,469
IX-5 Pay of current officers, directors and key staff$399,173
IX-7 Other salaries and wages$1,143,169
IX-8 Pension plan contributions$147,916
IX-9 Other employee benefits$80,772
IX-10 Payroll taxes$38,340
IX-11b Legal fees$50,697
IX-11c Accounting fees$54,532
IX-11f Investment management fees$290,390
IX-11g Other fees for services$34,750
IX-12 Advertising and promotion$30,413
IX-13 Office expenses$43,750
IX-14 Information technology$65,660
IX-16 Occupancy$34,993
IX-22 Depreciation, depletion and amortization$550
IX-23 Insurance$8,818
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$88,578,392
Part X · Balance sheet $135,588,755 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $350$350
X-2 Savings and temporary cash investmentsStart of year $1,851,096$3,669,439
X-4 Accounts receivableStart of year $3,282,962$3,304,257
X-10c Land, buildings and equipment, netStart of year $1,417$868
X-11 Publicly traded securitiesStart of year $120,105,934$123,104,487
X-12 Other securitiesStart of year $3,989,816$4,698,984
X-15 Other assetsStart of year $986,220$810,370
X-16 Total assetsStart of year $130,217,795$135,588,755
X-17 Accounts payable and accrued expensesStart of year $377,659$293,126
X-25 Other liabilitiesStart of year $1,016,084$1,015,980
X-26 Total liabilitiesStart of year $1,393,743$1,309,106
X-32 Total net assets or fund balancesStart of year $128,824,052$134,279,649
X-33 Total liabilities and net assetsStart of year $130,217,795$135,588,755
Part XI · Reconciliation of net assets $134,279,649 net assets at year end
XI-1 Total revenue$92,786,165
XI-2 Total expenses$88,578,392
XI-3 Revenue less expenses$4,207,773
XI-4 Net assets at start of year$128,824,052
XI-5 Net unrealized gains (losses) on investments$1,247,824
XI-10 Net assets at end of year$134,279,649

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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