Ibew Local Union 150
- Assets
- $7.8m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 26
- Location
- Libertyville, IL
- Founding
- 08/1940
- Data as of
- 06/2023
- EIN
- 36-1581422
Organization Overview
Ibew Local Union 150 is located in Libertyville, IL. 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 06/2023, Ibew Local Union 150 employed 26 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Ibew Local Union 150 is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2023, Ibew Local Union 150 generated $2.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $2.0m during the year ending 06/2023. While expenses have increased by 2.3% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC, SOCIAL AND MORAL ADVANCEMENT OF LOCAL 150 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ECONOMIC, SOCIAL AND MORAL ADVANCEMENT OF THE MEMBERSHIP IS BEING ACCOMPLISHED THROUGH THE USE OF UNION FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Smart Business Man | OfficerTrustee | 45 | $132,989 |
Aaron Rendon Recording Se | OfficerTrustee | 42 | $74,031 |
Jeff Schwingbeck President | OfficerTrustee | 2 | $4,547 |
Jonathan Aunet Executive Bo | Trustee | 2 | $3,549 |
Marty Mcneill Treasurer | OfficerTrustee | 2 | $1,636 |
Joe Catella Vice Preside | OfficerTrustee | 2 | $1,597 |
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 | $2,053,328 |
| Investment income | $78,492 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,309,700 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $893,674 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,917 |
| Pension plan accruals and contributions | $290,257 |
| Other employee benefits | $0 |
| Payroll taxes | $56,983 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,112 |
| Fees for services: Accounting | $7,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $480 |
| Office expenses | $104,377 |
| Information technology | $8,928 |
| Royalties | $0 |
| Occupancy | $16,840 |
| Travel | $36,566 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,788 |
| Interest | $0 |
| Payments to affiliates | $447,924 |
| Depreciation, depletion, and amortization | $22,197 |
| Insurance | $12,819 |
| All other expenses | $24,001 |
| Total functional expenses | $2,040,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $313,797 |
| Savings and temporary cash investments | $2,509,837 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $76,270 |
| Investments—publicly traded securities | $2,601,582 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,255,608 |
| Total assets | $7,757,094 |
| Accounts payable and accrued expenses | $0 |
| 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 | $16,875 |
| Total liabilities | $16,875 |
| Net assets without donor restrictions | $7,740,219 |
| 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 | $7,757,094 |