Toledo Electrical Welfare Fund
- Assets
- $84.0m
- Revenue
- $43.2m
- Investments
- $59.2m
- Employees
- 865
- Location
- Rossford, OH
- Founding
- 04/1990
- Data as of
- 12/2021
- EIN
- 34-4441661
Organization Overview
Toledo Electrical Welfare Fund is located in Rossford, OH. The organization was established in 1990. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Toledo Electrical Welfare Fund employed 865 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Toledo Electrical Welfare Fund 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, Toledo Electrical Welfare Fund generated $43.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $38.8m during the year ending 12/2021. While expenses have increased by 3.7% 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 WELFARE BENEFITS TO MEMBERS AND DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TOLEDO ELECTRICAL WELFARE FUND PROVIDES HEALTH AND WELFARE BENEFITS FOR ALL ELIGIBLE MEMBERS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Donley Administrative Manager | Officer | 11 | $0 |
Todd T Michaelsen Mgmt Trustee | Trustee | 1 | $0 |
Eric Grosswiler Labor Trustee | Trustee | 1 | $0 |
Michael J Arnold Mgmt Trustee | Trustee | 1 | $0 |
Thomas Enright Labor Trustee | Trustee | 1 | $0 |
Chad Turner Mgmt Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Express Scripts Pharmacy Benefit Manager Admin Fee | 12/30/21 | $428,574 |
American Health Holdings Utilization Management And Medical Revie | 12/30/21 | $417,105 |
Renalogic Dialysis Repricing Services | 12/30/21 | $247,926 |
Frontpath Health Coalition Network Access Fee & Repricing Fee | 12/30/21 | $156,758 |
Asmed Healthcare Medical Claim Repricing Services | 12/30/21 | $187,223 |
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 | $40,933,014 |
| Investment income | $1,315,089 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $475,014 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,224,604 |
| 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 | $37,458,759 |
| 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 | $448,819 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $234,509 |
| Payroll taxes | $36,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $73,513 |
| Fees for services: Accounting | $43,893 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,946 |
| Fees for services: Other | $151,853 |
| Advertising and promotion | $0 |
| Office expenses | $88,334 |
| Information technology | $136,642 |
| Royalties | $0 |
| Occupancy | $32,596 |
| Travel | $15,666 |
| 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 | $52,263 |
| All other expenses | $576 |
| Total functional expenses | $38,842,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,804,081 |
| Savings and temporary cash investments | $5,531,672 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,374,336 |
| 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 | $28,079 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $59,163,593 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $77,106 |
| Total assets | $83,978,867 |
| Accounts payable and accrued expenses | $97,831 |
| 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 | $3,261,281 |
| Total liabilities | $3,359,112 |
| 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 | $80,619,755 |
| Total liabilities and net assets/fund balances | $83,978,867 |