Harrison Electrical Workers Trust Fund: FY2022 Nonprofit Profile & Form 990 (EIN 93-6023048)

Revenue by fiscal year
FY2020	$148.4M
FY2021	$175.9M
FY2022	$170.0M
FY2023	$166.7M
FY2024	$180.7M

Expenses by fiscal year
FY2020	$130.1M
FY2021	$145.7M
FY2022	$148.7M
FY2023	$158.6M
FY2024	$156.5M

Net assets by fiscal year
FY2020	$259.5M
FY2021	$303.7M
FY2022	$266.8M
FY2023	$307.1M
FY2024	$362.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1957.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $148.7M

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

2 people listed on the 990.

Part VII, Section A · reportable compensation

Garth Bachman

Trustee

$0Pt VII · Sec A

Timothy Gauthier

Trustee

$0Pt VII · Sec A

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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 comprehensive health and welfare benefits to eligible electrical workers and their dependents.

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Provided by the organization

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1 program · $148.7M · in their own filed words · FY2022

01

Provide health and welfare benefits to participants and their eligible dependents.

$148.7Mprogram expense

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$170.0M

Ln 12

Fees for servicesLn 2g$156.6M

Investment incomeLn 3$13.0M

Other incomeLn 4–11$377K

Money outPt IX

$148.7M

Ln 25

Programscol B$148.7M

Owns and owesPt X

$266.8M

net assets · Ln 32

Cash and savingsLn 1–2$19.8M

Total assetsLn 16$359.4M

LiabilitiesLn 26$92.6M

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$156.6M

Investment incomeLn 3$13.0M

Other incomeLn 4–11$377K

Gains on assetsLn 7$5.1M

Total revenueLn 12$170.0M

Assets in detailPt X, end of year

CashLn 1$13.1M

SavingsLn 2$6.7M

Cash and savings togetherLn 1–2$19.8M

InvestmentsLn 11–13$320.7M

Total assetsLn 16$359.4M

LiabilitiesLn 26$92.6M

Net assetsLn 32$266.8M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

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

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$11.0M	$19.8M
InvestmentsLn 11–13	$364.0M	$320.7M
Total assetsLn 16	$391.1M	$359.4M
LiabilitiesLn 26	$87.4M	$92.6M
Net assetsLn 32	$303.7M	$266.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$144.1M	$144.1M
Legal feesLn 11b	$30K	$30K
Accounting feesLn 11c	$36K	$36K
Conferences, conventions and meetingsLn 19	$9K	$9K
Other expenses (24a–d)Ln 24	$3.5M	$3.5M
All other expensesLn 24e	$1.0M	$1.0M
Total functional expensesLn 25	$148.7M	$148.7M	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$180.7M	$156.5M	$24.1M	$362.5M	990 PDF
FY2023	$166.7M	$158.6M	$8.1M	$307.1M	990 PDF
FY2022 Viewing	$170.0M	$148.7M	$21.3M	$266.8M	990 PDF
FY2021	$175.9M	$145.7M	$30.3M	$303.7M	990 PDF
FY2020	$148.4M	$130.1M	$18.3M	$259.5M	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 FY2022 990 (6 parts)

Part I · Summary $169,962,460 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $143,803,818$156,575,877

I-10 Investment incomePrior year $31,890,334$13,009,625

I-11 Other revenuePrior year $242,149$376,958

I-12 Total revenuePrior year $175,936,301$169,962,460

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to membersPrior year $141,396,067$144,138,619

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $4,255,764$4,542,727

I-18 Total expensesPrior year $145,651,831$148,681,346

I-19 Revenue less expensesPrior year $30,284,470$21,281,114

Part VI · Governance 2 of 2 board members independent, no flags

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

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 $169,962,460 across 5 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $156,575,877$156,575,877

VIII-3 Investment incomeRelated to mission $7,884,588$7,884,588

VIII-7 Net gain or loss on sales of assetsRelated to mission $5,125,037$5,125,037

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $376,958$376,958

VIII-12 Total revenueRelated to mission $169,962,460$169,962,460

Part IX · Statement of functional expenses $148,681,346 across 6 lines filed

IX-4 Benefits paid to or for membersPrograms $144,138,619$144,138,619

IX-11b Legal feesPrograms $29,973$29,973

IX-11c Accounting feesPrograms $36,000$36,000

IX-19 Conferences, conventions and meetingsPrograms $8,969$8,969

IX-24 Other expenses (24a–d)Programs $3,456,355$3,456,355

IX-24e All other expensesPrograms $1,011,430$1,011,430

IX-25 Total functional expensesPrograms $148,681,346 · Management $0 · Fundraising $0$148,681,346

Part X · Balance sheet $359,423,576 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $9,635,862$13,081,122

X-2 Savings and temporary cash investmentsStart of year $1,341,595$6,701,119

X-4 Accounts receivableStart of year $15,902,435$18,724,715

X-9 Prepaid expenses and deferred chargesStart of year $187,392$191,993

X-11 Publicly traded securitiesStart of year $364,028,579$320,724,627

X-16 Total assetsStart of year $391,095,863$359,423,576

X-17 Accounts payable and accrued expensesStart of year $1,654,509$1,727,899

X-19 Deferred revenue$369,573

X-25 Other liabilitiesStart of year $85,754,861$90,549,730

X-26 Total liabilitiesStart of year $87,409,370$92,647,202

X-32 Total net assets or fund balancesStart of year $303,686,493$266,776,374

X-33 Total liabilities and net assetsStart of year $391,095,863$359,423,576

Part XI · Reconciliation of net assets $266,776,374 net assets at year end

XI-1 Total revenue$169,962,460

XI-2 Total expenses$148,681,346

XI-3 Revenue less expenses$21,281,114

XI-4 Net assets at start of year$303,686,493

XI-5 Net unrealized gains (losses) on investments−$58,191,233

XI-10 Net assets at end of year$266,776,374

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Harrison Electrical Workers Trust Fund FY2022 filing

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