Nyc Electricians Retired Local 3 Ibew
- Assets
- $5.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Fresh Meadows, NY
- Founding
- 01/1977
- Data as of
- 12/2021
- EIN
- 11-3014132
Organization Overview
Nyc Electricians Retired Local 3 Ibew is located in Fresh Meadows, NY. The organization was established in 1977. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nyc Electricians Retired Local 3 Ibew is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Nyc Electricians Retired Local 3 Ibew generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 1.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND OTHER BENEFITS TO COVERED PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH AND OTHER BENEFITS TO COVERED PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Cassidy Fund Administrator | 20 | $120,665 | |
Anthony Basso Trustee | Trustee | 1 | $149 |
Robert Port Trustee | Trustee | 1 | $149 |
Sean Fitzpatrick Trustee | Trustee | 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 | $2,338,682 |
| Investment income | $127,423 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,698 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,516,317 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,764,403 |
| Compensation of current officers, directors, key employees. | $120,963 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,504 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,000 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,289 |
| Fees for services: Other | $32,322 |
| Advertising and promotion | $0 |
| Office expenses | $8,658 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $642 |
| All other expenses | $0 |
| Total functional expenses | $1,986,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $751,149 |
| Savings and temporary cash investments | $107,113 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $675,808 |
| 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 | $0 |
| Investments—publicly traded securities | $3,868,990 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,738 |
| Total assets | $5,415,798 |
| Accounts payable and accrued expenses | $27,680 |
| 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 | $58,751 |
| Total liabilities | $86,431 |
| Net assets without donor restrictions | $0 |
| 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 | $5,329,367 |
| Total liabilities and net assets/fund balances | $5,415,798 |
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|---|---|---|
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American Federation Of State County & Municipal Employees New York, NY | $5,666,474 | $18,719,600 |
Laboers International Union Of North America New York, NY | $82,959,218 | $20,599,249 |
Teamsters Local 97 Fund Clark, NJ | $4,130,996 | $17,509,914 |
International Union Of Operating Engineers 825 825 A&b Springfield, NJ | $42,119,361 | $15,523,159 |
Electrical Workers Local No 86 Insurance Fund Plan And Trust Rochester, NY | $26,301,983 | $18,525,409 |
International Brotherhood Of Electrical Workers Dorchester, MA | $20,226,169 | $18,660,825 |
International Union Of Painters And Allied Trades New York, NY | $30,422,741 | $16,478,287 |
International Brotherhood Of Teamsters New York, NY | $10,937,127 | $16,693,793 |
New York State Correctional Albany, NY | $26,423,975 | $18,262,137 |