International Brotherhood Of Electrical Workers
- Assets
- $49.3m
- Revenue
- $31.6m
- Investments
- $0.0
- Employees
- 102
- Location
- Flushing, NY
- Founding
- 08/1940
- Data as of
- 12/2022
- EIN
- 13-5574127
Organization Overview
International Brotherhood Of Electrical Workers is located in Flushing, NY. 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 12/2022, International Brotherhood Of Electrical Workers employed 102 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 12/2022, International Brotherhood Of Electrical Workers generated $31.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $20.2m during the year ending 12/2022. While expenses have increased by 2.5% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MEMBER SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOCAL REPRESENTS APPROXIMATELY 23,000 MEMBERS BY NEGOTIATING AND ADMINISTERING COLLECTIVE BARGAINING AGREEMENTS AND REPRESENTING MEMBERS WITH GRIEVANCES AND IN ARBITRATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Erikson Business Manager | Officer | 40 | $212,684 |
Thomas J Cleary President | OfficerTrustee | 37.5 | $200,186 |
Joseph Proscia Jr Financial Secretary | Officer | 37.5 | $200,751 |
Louis Alvarez Vice President | OfficerTrustee | 10 | $0 |
Damon Armstrong Treasurer | Officer | 10 | $1,301 |
Michael Loreto Recording Secretary | Officer | 10 | $4,935 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Profile Enterprises Lp Office Rental | 12/30/22 | $249,517 |
Richard S Brook Esq Legal | 12/30/22 | $975,883 |
Archer Byington Glennon & Levine Legal | 12/30/22 | $180,517 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,118,100 |
| 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 | $2,118,100 |
| Total Program Service Revenue | $28,856,892 |
| Investment income | $392,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$330,456 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,561,321 |
| 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 | $1,091,336 |
| Compensation of current officers, directors, key employees. | $1,156,099 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,072,276 |
| Pension plan accruals and contributions | $1,165,132 |
| Other employee benefits | $2,718,382 |
| Payroll taxes | $565,425 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,190,252 |
| Fees for services: Accounting | $131,370 |
| Fees for services: Lobbying | $90,050 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $72,746 |
| Fees for services: Other | $105,150 |
| Advertising and promotion | $0 |
| Office expenses | $836,416 |
| Information technology | $393,234 |
| Royalties | $0 |
| Occupancy | $1,467,360 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $418,080 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $258,675 |
| Insurance | $96,281 |
| All other expenses | $277,794 |
| Total functional expenses | $20,201,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,377,190 |
| Savings and temporary cash investments | $2,189,080 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,334,162 |
| 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 | $39,584 |
| Net Land, buildings, and equipment | $1,459,401 |
| Investments—publicly traded securities | $35,046,463 |
| Investments—other securities | $0 |
| Investments—program-related | $879,489 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,325,369 |
| Accounts payable and accrued expenses | $4,873,088 |
| 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 | $4,873,088 |
| Net assets without donor restrictions | $44,452,281 |
| 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 | $49,325,369 |