International Brotherhood Of Electrical Workers
- Assets
- $1.5m
- Revenue
- $910.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Newport, ME
- Founding
- 08/1940
- Data as of
- 06/2024
- EIN
- 01-0226195
Organization Overview
International Brotherhood Of Electrical Workers is located in Newport, ME. The organization was established in 1940. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 06/2024, International Brotherhood Of Electrical Workers employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. International Brotherhood Of Electrical Workers is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2024, International Brotherhood Of Electrical Workers generated $910.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $583.8k during the year ending 06/2024. While expenses have increased by 5.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO CARRY OUT THE BETTERMENT OF CONDITIONS FOR WORKERS, THE IMPROVEMENT OF THE GRADE OF THEIR PRODUCTS AND THE DEVELOPMENT OF A HIGH DEGREE OF EFFICIENCY IN THEIR RESPECTIVE OCCUPATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCATE, ARBITRATE & NEGOTIATE FOR MEMBERS. ADMINISTRATION OF THE MARKET RECOVERY PROGRAM FOR PROMOTING THE ORGANIZED ELECTRICAL CONSTRUCTION INDUSTRY WITHIN THE LOCAL JURISDICTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Paquet President/business Manager | OfficerTrustee | 40 | $98,204 |
Tom Tobias Treasurer | OfficerTrustee | 1 | $0 |
Shawn Chandler President | OfficerTrustee | 1 | $0 |
Lee Whitaker Executive Board | Trustee | 1 | $0 |
Mark Higgins Recording Secretary | OfficerTrustee | 1 | $0 |
Gary Nichols Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $845,231 |
| Investment income | $55,875 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,698 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $910,266 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $39,849 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,749 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,642 |
| Pension plan accruals and contributions | $12,565 |
| Other employee benefits | $17,065 |
| Payroll taxes | $13,652 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,882 |
| Office expenses | $26,481 |
| Information technology | $10,131 |
| Royalties | $0 |
| Occupancy | $22,326 |
| Travel | $20,053 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,478 |
| Interest | $0 |
| Payments to affiliates | $162,680 |
| Depreciation, depletion, and amortization | $13,452 |
| Insurance | $6,257 |
| All other expenses | $0 |
| Total functional expenses | $583,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,977 |
| Savings and temporary cash investments | $1,256,522 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $30,158 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,535,657 |
| Accounts payable and accrued expenses | $3,584 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,584 |
| Net assets without donor restrictions | $1,532,073 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,535,657 |