Neca-Ibew Welfare Trust Fund
- Assets
- $314.8m
- Revenue
- $204.6m
- Investments
- $183.5m
- Employees
- 0
- Location
- Decatur, IL
- Founding
- 04/1958
- Data as of
- 06/2022
- EIN
- 37-0738564
Organization Overview
Neca-Ibew Welfare Trust Fund is located in Decatur, IL. The organization was established in 1958. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neca-Ibew Welfare Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2022, Neca-Ibew Welfare Trust Fund generated $204.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $193.9m during the year ending 06/2022. While expenses have increased by 4.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS AND THEIR DEPENDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTHCARE, DEATH, DISABILITY, DENTAL, AND VISION BENEFITS TO ELIGIBLE MEMBERS AND THEIR DEPENDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Clarida Union Trustee | Trustee | 1 | $0 |
Jarrett Clem Union Trustee | Trustee | 1 | $0 |
Jim Fellows Union Trustee | Trustee | 1 | $0 |
Paul Flynn Union Trustee | Trustee | 1 | $0 |
Neil Hervey Union Trustee | Trustee | 1 | $0 |
Kristopher Howard Union 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 | $167,378,941 |
| Investment income | $2,741,655 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $33,477,572 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $204,637,992 |
| 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 | $187,682,787 |
| 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 | $0 |
| Fees for services: Legal | $126,450 |
| Fees for services: Accounting | $151,586 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,010,073 |
| Fees for services: Other | $227,993 |
| Advertising and promotion | $0 |
| Office expenses | $299,498 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,543 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $121,718 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,688 |
| Insurance | $63,480 |
| All other expenses | $51,128 |
| Total functional expenses | $193,850,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $12,738,294 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,909,349 |
| 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 | $20,875 |
| Net Land, buildings, and equipment | $596,126 |
| Investments—publicly traded securities | $103,328,209 |
| Investments—other securities | $183,463,261 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $777,036 |
| Total assets | $314,833,150 |
| Accounts payable and accrued expenses | $47,215,345 |
| 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 | $135,680 |
| Total liabilities | $47,351,025 |
| 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 | $267,482,125 |
| Total liabilities and net assets/fund balances | $314,833,150 |