International Brotherhood Of Elect Workers 300 Health & Welfare Tr
- Assets
- $3.3m
- Revenue
- $3.8m
- Investments
- $945.4k
- Employees
- 10
- Location
- South Burlington, VT
- Founding
- 05/1973
- Data as of
- 06/2023
- EIN
- 23-7293087
Organization Overview
International Brotherhood Of Elect Workers 300 Health & Welfare Tr is located in South Burlington, VT. The organization was established in 1973. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2023, International Brotherhood Of Elect Workers 300 Health & Welfare Tr employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Brotherhood Of Elect Workers 300 Health & Welfare Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, International Brotherhood Of Elect Workers 300 Health & Welfare Tr generated $3.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $4.0m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (6.8%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH, DENTAL, VISION, SHORT-TERM DISABILITY AND LIFE INSURANCE BENEFITS TO ALL LOCAL-300 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH DENTAL VISION SHORT TERM DISABILITY AND LIFE INSURANCE BENEFITS TO ALL LOCAL 300 ELIGIBLE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon Lapierre Trustee | Trustee | 1 | $0 |
Timothy Labombard Trustee | Trustee | 1 | $0 |
Brian Ritz Trustee | Trustee | 1 | $0 |
Jeffrey Peck Trustee | Trustee | 1 | $0 |
Jeffrey Wimette Trustee | Trustee | 1 | $0 |
Kerry Davis 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 | $3,796,249 |
| Investment income | $64,051 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$29,097 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,831,203 |
| 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 | $3,444,858 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $103,225 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,187 |
| Payroll taxes | $10,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,000 |
| Fees for services: Accounting | $12,135 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,000 |
| Fees for services: Other | $365,592 |
| Advertising and promotion | $0 |
| Office expenses | $1,168 |
| Information technology | $8,938 |
| Royalties | $0 |
| Occupancy | $5,167 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,380 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $744 |
| Insurance | $3,971 |
| All other expenses | $338 |
| Total functional expenses | $4,048,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $473,800 |
| Savings and temporary cash investments | $464,495 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $240,128 |
| 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 | $1,926 |
| Investments—publicly traded securities | $1,012,737 |
| Investments—other securities | $945,388 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $114,002 |
| Total assets | $3,252,476 |
| Accounts payable and accrued expenses | $108,383 |
| 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 | $216,696 |
| Total liabilities | $325,079 |
| 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 | $2,927,397 |
| Total liabilities and net assets/fund balances | $3,252,476 |