Electrical Welfare Trust Fund FY2020 filing

Not tax-deductible

Lanham, MDMutual-benefit / member-servingSince 1949EIN 52-6038507Revenue $138.7M in FY2020

On file with the IRSewtf.org10003 Derekwood Ln Ste 130, 20706-4811 · Lanham, MDTax-exempt since Jul 1961

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To provide Welfare benefits for eligible participants as agreed upon by the national Electrical contractors association - washington, DC chapter and ibew local union no. 26.

95¢ of each $1 spent went to programs.
$788K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $20.5M a year · 12% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$788K
to officers and key staff · 0.7% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $12K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$787K
0.3% of total assets
Looks good: liabilities are 0% 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
$138.7M
Spent
$116.1M
To programs
95%
Net assets
$230.6M
By yearFY2020–FY2024
Revenue
$138.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$138.7M
FY2021$156.9M
FY2022$163.9M
FY2023$165.0M
FY2024$195.6M
Expenses
$116.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$116.1M
FY2021$137.3M
FY2022$134.2M
FY2023$156.5M
FY2024$173.6M
Net assets
$230.6M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$230.6M
FY2021$253.0M
FY2022$262.5M
FY2023$279.5M
FY2024$297.3M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1961.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $109.9M Management & general 5% · $6.2M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $788K paid to officers and key staff.

Part VII, Section A · reportable compensation
Fund Manager
$164,431Pt VII · Sec A
Claims Manager
$162,800Pt VII · Sec A
Benefit Admin Specialist
$142,798Pt VII · Sec A
Benefit Admin Specialist
$108,105Pt VII · Sec A
System Specialist
$106,642Pt VII · Sec A
Senior Claims Processor
$103,302Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Michael McCarron$223,503$216,964$200,920$199,304$164,431
Crystal Milligan$176,887$171,644$160,600$160,600$162,800
Robin Balint$156,084$151,414$140,394$140,394$142,798
James Chambers$118,913$113,596$131,845$116,984$106,642
Sharon Rivett—$118,822$124,114$106,918$108,105
Dawn Oakes$117,372$118,201$122,655——
Michelle Coakley$109,884————
Mosekunola Adeyiga———$101,640$103,302

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 welfare benefits to eligible electrical industry participants.

Questions for Electrical Welfare Trust Fund

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Provided by the organization

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1 program · $109.9M · in their own filed words · FY2020
01

Health and welfare benefits for participants and their dependents.

$109.9Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$12K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$138.7M
Ln 12
Fees for servicesLn 2g$132.9M
Investment incomeLn 3$5.7M
Other incomeLn 4–11$34K
Money outPt IX
$116.1M
Ln 25
Programscol B$109.9M
Managementcol C$6.2M
Owns and owesPt X
$230.6M
net assets · Ln 32
Cash and savingsLn 1–2$14.2M
Total assetsLn 16$231.3M
LiabilitiesLn 26$787K
PeoplePt VI, VII
12
listed · VII A
PaidVII A6
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$132.9M
Investment incomeLn 3$5.7M
Other incomeLn 4–11$34K
Gains on assetsLn 7−$205K
Total revenueLn 12$138.7M
Assets in detailPt X, end of year
CashLn 1$14.2M
SavingsLn 2$0
Cash and savings togetherLn 1–2$14.2M
InvestmentsLn 11–13$196.9M
Land, buildings, equipmentLn 10c$102K
Other assetsLn 15$15K
Total assetsLn 16$231.3M
LiabilitiesLn 26$787K
Net assetsLn 32$230.6M
OperationsPt I, VI
EmployeesI 543
Fiscal year endsHeaderDecember
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 FY20End FY20
Cash and savingsLn 1–2$20.4M$14.2M
InvestmentsLn 11–13$165.3M$196.9M
Land, buildings, equipmentLn 10c$134K$102K
Total assetsLn 16$203.5M$231.3M
LiabilitiesLn 26$701K$787K
Net assetsLn 32$202.8M$230.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$109.9M$109.9M
Pay of current officers, directors and key staffLn 5$201K$201K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$3.6M$3.6M
Pension plan contributionsLn 8$907K$907K
Other employee benefitsLn 9$0
Payroll taxesLn 10$281K$281K
Management feesLn 11a$0
Legal feesLn 11b$200K$200K
Accounting feesLn 11c$96K$96K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$408K$408K
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$20K$20K
Office expensesLn 13$247K$247K
Information technologyLn 14$593K$593K
RoyaltiesLn 15$0
OccupancyLn 16$164K$164K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$65K$65K
InsuranceLn 23$44K$44K
Other expenses (24a–d)Ln 24$383K$383K
All other expensesLn 24e−$968K−$968K
Total functional expensesLn 25$116.1M$109.9M$6.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $195.6M$173.6M$22.0M$297.3M 990 PDF
FY2023 $165.0M$156.5M$8.5M$279.5M 990 PDF
FY2022 $163.9M$134.2M$29.7M$262.5M 990 PDF
FY2021 $156.9M$137.3M$19.6M$253.0M 990 PDF
FY2020 Viewing $138.7M$116.1M$22.6M$230.6M 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 FY2020 990 (6 parts)
Part I · Summary $138,682,238 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $139,136,335$132,925,475
I-10 Investment incomePrior year $5,884,491$5,722,277
I-11 Other revenuePrior year $48,906$34,486
I-12 Total revenuePrior year $145,069,732$138,682,238
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $104,239,599$109,903,045
I-15 Salaries and benefitsPrior year $4,898,066$4,941,044
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,374,055$1,251,849
I-18 Total expensesPrior year $110,511,720$116,095,938
I-19 Revenue less expensesPrior year $34,558,012$22,586,300
Part VI · Governance 0 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
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 $138,682,238 across 9 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $132,925,475$132,925,475
VIII-3 Investment incomeExcluded from tax $5,926,931$5,926,931
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$204,654−$204,654
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $34,486$34,486
VIII-12 Total revenueRelated to mission $132,959,961 · Excluded from tax $5,722,277$138,682,238
Part IX · Statement of functional expenses $116,095,938 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for membersPrograms $109,903,045$109,903,045
IX-5 Pay of current officers, directors and key staffManagement $201,210$201,210
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesManagement $3,552,053$3,552,053
IX-8 Pension plan contributionsManagement $906,522$906,522
IX-9 Other employee benefits$0
IX-10 Payroll taxesManagement $281,259$281,259
IX-11a Management fees$0
IX-11b Legal feesManagement $200,489$200,489
IX-11c Accounting feesManagement $96,173$96,173
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $407,600$407,600
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $19,818$19,818
IX-13 Office expensesManagement $247,390$247,390
IX-14 Information technologyManagement $593,088$593,088
IX-15 Royalties$0
IX-16 OccupancyManagement $164,012$164,012
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $64,811$64,811
IX-23 InsuranceManagement $43,799$43,799
IX-24 Other expenses (24a–d)Management $382,858$382,858
IX-24e All other expensesManagement −$968,189−$968,189
IX-25 Total functional expensesPrograms $109,903,045 · Management $6,192,893$116,095,938
Part X · Balance sheet $231,343,514 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $20,429,849$14,209,545
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $17,547,749$18,370,630
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $96,964$1,772,314
X-10c Land, buildings and equipment, netStart of year $133,677$101,607
X-11 Publicly traded securitiesStart of year $165,263,547$196,874,882
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $14,536$14,536
X-16 Total assetsStart of year $203,486,322$231,343,514
X-17 Accounts payable and accrued expensesStart of year $701,226$786,685
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $701,226$786,685
X-32 Total net assets or fund balancesStart of year $202,785,096$230,556,829
X-33 Total liabilities and net assetsStart of year $203,486,322$231,343,514
Part XI · Reconciliation of net assets $230,556,829 net assets at year end
XI-1 Total revenue$138,682,238
XI-2 Total expenses$116,095,938
XI-3 Revenue less expenses$22,586,300
XI-4 Net assets at start of year$202,785,096
XI-5 Net unrealized gains (losses) on investments$5,185,433
XI-10 Net assets at end of year$230,556,829

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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