Ibew Local 712 - Welfare Trust Fund
- Assets
- $86.4m
- Revenue
- $50.1m
- Investments
- $0.0
- Employees
- 23
- Location
- Pittsburgh, PA
- Founding
- Data as of
- 12/2021
- EIN
- 25-6037360
Organization Overview
Ibew Local 712 - Welfare Trust Fund is located in Pittsburgh, PA. As of 12/2021, Ibew Local 712 - Welfare Trust Fund employed 23 individuals. Ibew Local 712 - Welfare Trust Fund is a 501(c)(18) and as such, is described as a "Employee Funded Pension Trust" by the IRS.
For the year ending 12/2021, Ibew Local 712 - Welfare Trust Fund generated $50.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 37.5% each year . All expenses for the organization totaled $29.0m during the year ending 12/2021. While expenses have increased by 27.1% per year over the past 6 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
MEDICAL/DEATH BENEFITS TO MEMBERS AND DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE 550 ACTIVE IBEW MEMBERS AND THEIR DEPENDENTS HAD ACCESS TO MEDICAL AND NON-OCCUPATIONAL DENTAL BENEFITS AND CERTAIN DEATH BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank E Telesz Jr Trustee | Trustee | 3 | $0 |
John A Kochanowski Trustee | Trustee | 3 | $0 |
Robert J Bruce Trustee | Trustee | 3 | $0 |
Michael D Robinson Jr Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Highmark Hsa Administration | 12/30/21 | $379,862 |
Upmc Corporate Services Claim Administration | 12/30/21 | $126,102 |
Cds Administrators Third Party Plan Administration | 12/30/21 | $108,938 |
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 | $48,430,288 |
| Investment income | $1,126,604 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $558,164 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,115,056 |
| 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 | $28,196,581 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $108,938 |
| Fees for services: Legal | $46,315 |
| Fees for services: Accounting | $21,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $110,545 |
| Fees for services: Other | $50,236 |
| Advertising and promotion | $0 |
| Office expenses | $30,068 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,269 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,741 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $295,096 |
| All other expenses | $0 |
| Total functional expenses | $28,996,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,627,569 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,051,278 |
| 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 | $11,808 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $64,678,769 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $86,369,424 |
| Accounts payable and accrued expenses | $7,003,222 |
| 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 | $7,003,222 |
| 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 | $79,366,202 |
| Total liabilities and net assets/fund balances | $86,369,424 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Center For Discovery Inc Harris, NY | $136,967,391 | $121,112,657 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Adventist Development And Relief Agency International Silver Spring, MD | $93,556,695 | $133,531,867 |
Champlain College Inc Burlington, VT | $240,784,775 | $119,718,125 |
Behavioral Health Network Inc Springfield, MA | $65,551,106 | $133,127,177 |
Point Park University Pittsburgh, PA | $213,510,842 | $122,379,566 |
Mid-Ohio Foodbank Grove City, OH | $66,739,553 | $150,715,504 |
Bay Cove Human Services Inc Boston, MA | $73,611,314 | $126,196,963 |
Lucent Technologies Inc Postretirment Welfare Benefits Tru Murray Hill, NJ | $233,482,578 | $187,732,247 |
Maryview Hospital Llc Suffolk, VA | $0 | $126,392,609 |
Michigan Public Health Institute Okemos, MI | $32,297,029 | $129,374,853 |
Mount Saint Marys University Emmitsburg, MD | $202,133,149 | $126,243,509 |