Ibew Local Union 306 Supplemental Health Benefit Fund

Organization Overview

Ibew Local Union 306 Supplemental Health Benefit Fund is located in Canfield, OH. The organization was established in 1985. 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. Ibew Local Union 306 Supplemental Health Benefit Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 05/2022, Ibew Local Union 306 Supplemental Health Benefit Fund generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $1.7m during the year ending 05/2022. While expenses have increased by 4.6% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE FUND PROVIDES FULLY INSURED LIFE, SICKNESS, ACCIDENT AND HEALTH BENEFITS TO RETIRED MEMBERS AND SURVIVING SPOUSES OF DECEASED RETIRED MEMBERS OF IBEW LOCAL UNION 306, AND MEDICAL.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FUND PROVIDED FULLY INSURED LIFE, SICKNESS, ACCIDENT AND HEALTH BENEFITS TO RETIRED MEMBERS AND SURVIVING SPOUSED OF DECEASED RETIRED MEMBERS OF THE IBEW LOCAL UNION NO. 306.


THE FUND PROVIDED MEDICAL REIMBURSEMENT ACCOUNTS FOR MEMBERS OF IBEW LOCAL UNION NO. 306 WHOSE CONTRIBUTIONS WERE MADE PURSUANT TO COLLECTIVE BARGAINING AGGREEMENTS BETWEEN THE UNION AND AN EMPLOYER.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Might
Chairman
$0
James Deckert
Trustee
$0
Christeen Speelman-Parsons
Trustee
$0
Benjamin Bovard
Trustee
$0
Jason Walden
Trustee
$0
John Kellamis
Secretary
$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$1,675,511
Investment income $155,699
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $44,604
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,875,943

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