St Paul Electrical Workers Reserve Trust: Nonprofit Profile, Financials & Form 990 (EIN 41-1334004)

Revenue by fiscal year
FY2020	$9.5M
FY2021	$22.0M
FY2022	$13.2M
FY2023	$12.5M
FY2024	$17.2M
FY2025	$19.1M

Expenses by fiscal year
FY2020	$3.8M
FY2021	$5.0M
FY2022	$4.9M
FY2023	$5.1M
FY2024	$5.3M
FY2025	$5.5M

Net assets by fiscal year
FY2020	$136.5M
FY2021	$168.3M
FY2022	$147.0M
FY2023	$165.5M
FY2024	$201.1M
FY2025	$218.6M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2005.

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

Part of a larger organization · Schedule R

St Paul Electrical Workers Reserve Trust files its own Form 990, but Schedule R discloses 25 related entities — figures on this page are for this EIN only, not the whole group.

International Brotherhood of Electrical Workers Local Union No 110 · St Paul Chapter National Electrical Contractors · St Paul Area Electrical Joint Apprenticeship and Training Fund · St Paul Electrical Workers Welfare Fund + 21 more · see all

Combined filings · FY2025 · 7 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 15% of group revenue.

Group revenue

$126.7M

Group expenses

$86.8M

Group net assets

$433.1M

International Brotherhood of Electrical Workers Local Union No 110 · $7.5M rev · $8.0M net assets

St Paul Chapter National Electrical Contractors · $1.2M rev · $1.7M net assets

St Paul Area Electrical Joint Apprenticeship and Training Fund · $2.6M rev · $3.8M net assets

St Paul Electrical Workers Welfare Fund · $72.2M rev · $172.8M net assets

Labor Mgmt Joint Comm for the Saint Paul Electrical Const Industry · $266K rev · $146K net assets

St Paul Electrical Workers Regular Vacation and Holiday Trust · $23.8M rev · $28.1M net assets

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Luke Kuhl

Secretary, Mgmt Trustee

$0Pt VII · Sec A

Nate Stein

Mgmt Trustee

$0Pt VII · Sec A

Jt Pedersen

Mgmt Trustee

$0Pt VII · Sec A

Peter Bourland

Alt Mgmt Trustee Former

$0Pt VII · Sec A

Ron Somerville

Alt Mgmt Trustee

$0Pt VII · Sec A

Mike Estep

Alt Mgmt Trustee

$0Pt VII · Sec A

James Schult

Union Trustee

$0Pt VII · Sec A

Brandon Anderson

Chairman, Union Trustee

$0Pt VII · Sec A

See St Paul Electrical Workers Reserve Trust executive salaries →

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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 15aNo

Programs and updates

Provides retiree medical funding to eligible participants.

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1 program · in their own filed words · FY2024

01

The purpose of this plan is to provide medical coverage for bargaining unit retirees, diasbled participants and surviving spouses of deceased bargaining unit participants and retirees. As of the end of the plan year, there were approximately 2,900 participants.

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 FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$19.1M

Ln 12

Investment incomeLn 3$12.8M

Fees for servicesLn 2g$6.4M

Other incomeLn 4–11$1K

Money outPt IX

$5.5M

Ln 25

Owns and owesPt X

$218.6M

net assets · Ln 32

Cash and savingsLn 1–2$8.4M

Total assetsLn 16$229.7M

LiabilitiesLn 26$11.1M

PeoplePt VI, VII

11

listed · VII A

PaidVII A0

Voting boardVI 1a6

IndependentVI 1b1

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$6.4M

Investment incomeLn 3$12.8M

Other incomeLn 4–11$1K

Gains on assetsLn 7$8.0M

Total revenueLn 12$19.1M

Assets in detailPt X, end of year

SavingsLn 2$8.4M

Cash and savings togetherLn 1–2$8.4M

InvestmentsLn 11–13$220.4M

Total assetsLn 16$229.7M

LiabilitiesLn 26$11.1M

Net assetsLn 32$218.6M

OperationsPt I, VI

EmployeesI 50

VolunteersI 611

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$12.9M	$8.4M
InvestmentsLn 11–13	$206.7M	$220.4M
Total assetsLn 16	$220.5M	$229.7M
LiabilitiesLn 26	$19.4M	$11.1M
Net assetsLn 32	$201.1M	$218.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$4.6M
Management feesLn 11a	$196K
Legal feesLn 11b	$3K
Accounting feesLn 11c	$18K
Investment management feesLn 11f	$643K
Other fees for servicesLn 11g	$17K
Office expensesLn 13	$4K
Information technologyLn 14	$3K
Conferences, conventions and meetingsLn 19	$4K
InsuranceLn 23	$1K
Other expenses (24a–d)Ln 24	$100
Total functional expensesLn 25	$5.5M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$19.1M	$5.5M	$13.7M	$218.6M	990 PDF
FY2024	$17.2M	$5.3M	$12.0M	$201.1M	990 PDF
FY2023	$12.5M	$5.1M	$7.4M	$165.5M	990 PDF
FY2022	$13.2M	$4.9M	$8.3M	$147.0M	990 PDF
FY2021	$22.0M	$5.0M	$17.0M	$168.3M	990 PDF
FY2020	$9.5M	$3.8M	$5.7M	$136.5M	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 O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $19,124,452 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $5,613,078$6,362,073

I-10 Investment incomePrior year $11,619,099$12,761,241

I-11 Other revenuePrior year $3,840$1,138

I-12 Total revenuePrior year $17,236,017$19,124,452

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $4,362,196$4,581,112

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $895,638$888,240

I-18 Total expensesPrior year $5,257,834$5,469,352

I-19 Revenue less expensesPrior year $11,978,183$13,655,100

Part VI · Governance 1 of 6 board members independent, 1 to look at

VI-1a Voting members of the governing body6

VI-1b Independent voting members1

VI-15a Process for setting top official's payNo

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

Part VIII · Statement of revenue $19,124,452 across 5 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,362,073$6,362,073

VIII-3 Investment incomeExcluded from tax $4,769,289$4,769,289

VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,991,952$7,991,952

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,138$1,138

VIII-12 Total revenueRelated to mission $6,363,211 · Unrelated business $0 · Excluded from tax $12,761,241$19,124,452

Part IX · Statement of functional expenses $5,469,352 across 11 lines filed

IX-4 Benefits paid to or for members$4,581,112

IX-11a Management fees$195,600

IX-11b Legal fees$2,637

IX-11c Accounting fees$18,446

IX-11f Investment management fees$643,292

IX-11g Other fees for services$17,367

IX-13 Office expenses$3,643

IX-14 Information technology$2,580

IX-19 Conferences, conventions and meetings$3,512

IX-23 Insurance$1,063

IX-24 Other expenses (24a–d)$100

IX-25 Total functional expenses$5,469,352

Part X · Balance sheet $229,662,086 assets, 9 lines filed

X-2 Savings and temporary cash investmentsStart of year $12,929,642$8,351,453

X-4 Accounts receivableStart of year $895,923$951,325

X-11 Publicly traded securitiesStart of year $187,247,382$209,302,073

X-12 Other securitiesStart of year $19,404,490$11,057,235

X-16 Total assetsStart of year $220,477,437$229,662,086

X-25 Other liabilitiesStart of year $19,404,490$11,057,235

X-26 Total liabilitiesStart of year $19,404,490$11,057,235

X-32 Total net assets or fund balancesStart of year $201,072,947$218,604,851

X-33 Total liabilities and net assetsStart of year $220,477,437$229,662,086

Part XI · Reconciliation of net assets $218,604,851 net assets at year end

XI-1 Total revenue$19,124,452

XI-2 Total expenses$5,469,352

XI-3 Revenue less expenses$13,655,100

XI-4 Net assets at start of year$201,072,947

XI-5 Net unrealized gains (losses) on investments$3,876,804

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$218,604,851

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

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St Paul Electrical Workers Reserve Trust

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for St Paul Electrical Workers Reserve Trust

Funders

Related Organizations

By the numbers

Filing history

Schedules filed Part IV