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St Paul Electrical Workers Welfare Fund

Not tax-deductible

Saint Paul, MNMutual-benefit / member-servingSince 1973Mutual / membership EIN 41-1365924Revenue $72.2M in FY2025

On file with the IRS1330 Conway St Ste 130, 55106-5856 · Saint Paul, MNTax-exempt since Jun 1962

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To provide medical, dental, vision, and disability benefits for eligible participants and their dependents.

Run by 11 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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
6 of 6
filings with a surplus
Average surplus $9.7M a year · 17% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
4 mo
of spending, in cash
Plus $149.6M in investments, Pt X · Ln 11–13
Looks good: 4.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.9M
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 6 voting members
Worth a look: 1 of 6 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$72.2M
+26% vs prior year
Spent
$53.2M
Net assets
$172.8M
By yearFY2020–FY2025
Revenue
$72.2M
FY2025▲ +26%
Tap a bar for its year
Revenue by fiscal year
FY2020$53.0M
FY2021$56.7M
FY2022$55.2M
FY2023$53.4M
FY2024$57.5M
FY2025$72.2M
Expenses
$53.2M
FY2025▼ -0.7%
Tap a bar for its year
Expenses by fiscal year
FY2020$43.8M
FY2021$45.4M
FY2022$45.9M
FY2023$47.8M
FY2024$53.6M
FY2025$53.2M
Net assets
$172.8M
FY2025▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2020$108.7M
FY2021$124.7M
FY2022$118.9M
FY2023$128.9M
FY2024$149.4M
FY2025$172.8M

From the FY2025 Form 990 (year ending September 2025) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1962.

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

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
James C Schult
Union Trustee
$0Pt VII · Sec A
Jamie M McNamara
Alternate Union Trustee
$0Pt VII · Sec A
Peter B Bourland
Alt Mgmt Trustee
$0Pt VII · Sec A
Brandon P Anderson
Chairman, Union Trustee
$0Pt VII · Sec A
J T Pedersen
Mgmt Trustee
$0Pt VII · Sec A
Luke Kuhl
Secretary, Mgmt Trustee
$0Pt VII · Sec A
Nate Stein
Mgmt Trustee
$0Pt VII · Sec A
Douglas Suchanek
Union Trustee
$0Pt VII · Sec A
See St Paul Electrical Workers Welfare Fund 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 healthcare benefits, including medical, surgical, and hospitalization insurance, for electrical workers and their families.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

To provide and maintain group life, group accident, and health insurance, including group hospitalization, medical and surgical benefits or any other benefits as determined by the trustees for the benefit of 3,403 participants and their beneficiaries.

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
$72.2M
Ln 12
Fees for servicesLn 2g$65.8M
Investment incomeLn 3$6.3M
Other incomeLn 4–11$7K
Money outPt IX
$53.2M
Ln 25
Owns and owesPt X
$172.8M
net assets · Ln 32
Cash and savingsLn 1–2$19.7M
Total assetsLn 16$175.6M
LiabilitiesLn 26$2.9M
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$65.8M
Investment incomeLn 3$6.3M
Other incomeLn 4–11$7K
Gains on assetsLn 7$2.6M
Total revenueLn 12$72.2M
Assets in detailPt X, end of year
CashLn 1$2.0M
SavingsLn 2$17.7M
Cash and savings togetherLn 1–2$19.7M
InvestmentsLn 11–13$149.6M
Total assetsLn 16$175.6M
LiabilitiesLn 26$2.9M
Net assetsLn 32$172.8M
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
LineStart FY25End FY25
Cash and savingsLn 1–2$15.2M$19.7M
InvestmentsLn 11–13$131.2M$149.6M
Total assetsLn 16$150.8M$175.6M
LiabilitiesLn 26$1.4M$2.9M
Net assetsLn 32$149.4M$172.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$52.1M
Management feesLn 11a$527K
Legal feesLn 11b$89K
Accounting feesLn 11c$32K
Investment management feesLn 11f$276K
Other fees for servicesLn 11g$89K
Office expensesLn 13$25K
Conferences, conventions and meetingsLn 19$33K
InsuranceLn 23$4K
Other expenses (24a–d)Ln 24$118K
Total functional expensesLn 25$53.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $72.2M$53.2M$18.9M$172.8M 990 PDF
FY2024 $57.5M$53.6M$3.9M$149.4M 990 PDF
FY2023 $53.4M$47.8M$5.7M$128.9M 990 PDF
FY2022 $55.2M$45.9M$9.3M$118.9M 990 PDF
FY2021 $56.7M$45.4M$11.3M$124.7M 990 PDF
FY2020 $53.0M$43.8M$9.3M$108.7M 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 $72,185,747 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $54,425,747$65,832,682
I-10 Investment incomePrior year $3,044,117$6,345,687
I-11 Other revenuePrior year $38,866$7,378
I-12 Total revenuePrior year $57,508,730$72,185,747
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $52,368,448$52,054,777
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,232,197$1,191,921
I-18 Total expensesPrior year $53,600,645$53,246,698
I-19 Revenue less expensesPrior year $3,908,085$18,939,049
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 $72,185,747 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $65,832,682$65,832,682
VIII-3 Investment incomeExcluded from tax $3,795,557$3,795,557
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,550,130$2,550,130
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,378$7,378
VIII-12 Total revenueRelated to mission $65,840,060 · Unrelated business $0 · Excluded from tax $6,345,687$72,185,747
Part IX · Statement of functional expenses $53,246,698 across 10 lines filed
IX-4 Benefits paid to or for members$52,054,777
IX-11a Management fees$526,509
IX-11b Legal fees$88,756
IX-11c Accounting fees$32,445
IX-11f Investment management fees$276,151
IX-11g Other fees for services$89,042
IX-13 Office expenses$24,552
IX-19 Conferences, conventions and meetings$32,885
IX-23 Insurance$4,026
IX-24 Other expenses (24a–d)$117,555
IX-25 Total functional expenses$53,246,698
Part X · Balance sheet $175,643,621 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,200,000$1,953,967
X-2 Savings and temporary cash investmentsStart of year $13,999,611$17,699,674
X-4 Accounts receivableStart of year $4,409,964$6,418,322
X-11 Publicly traded securitiesStart of year $129,856,388$146,826,242
X-12 Other securitiesStart of year $1,331,189$2,745,416
X-16 Total assetsStart of year $150,797,152$175,643,621
X-17 Accounts payable and accrued expensesStart of year $39,773$121,664
X-25 Other liabilitiesStart of year $1,331,189$2,745,416
X-26 Total liabilitiesStart of year $1,370,962$2,867,080
X-32 Total net assets or fund balancesStart of year $149,426,190$172,776,541
X-33 Total liabilities and net assetsStart of year $150,797,152$175,643,621
Part XI · Reconciliation of net assets $172,776,541 net assets at year end
XI-1 Total revenue$72,185,747
XI-2 Total expenses$53,246,698
XI-3 Revenue less expenses$18,939,049
XI-4 Net assets at start of year$149,426,190
XI-5 Net unrealized gains (losses) on investments$4,411,302
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$172,776,541

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

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