International Brotherhood Of Eletrl Workers Hlth & Wlfr Fnd Local 124
- Assets
- $57.2m
- Revenue
- $54.4m
- Investments
- $4.8m
- Employees
- 0
- Location
- Kansas City, MO
- Founding
- 11/1954
- Data as of
- 08/2023
- EIN
- 44-0569165
Organization Overview
International Brotherhood Of Eletrl Workers Hlth & Wlfr Fnd Local 124 is located in Kansas City, MO. The organization was established in 1954. 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. International Brotherhood Of Eletrl Workers Hlth & Wlfr Fnd Local 124 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 08/2023, International Brotherhood Of Eletrl Workers Hlth & Wlfr Fnd Local 124 generated $54.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $49.5m during the year ending 08/2023. While expenses have increased by 4.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PAYS MEDICAL, DENTAL, VISION, SICKNESS, AND DEATH BENEFITS ON BEHALF OF APPROXIMATLEY 7,600 UNION MEMBERS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth C Borden Chairman, Trustee | OfficerTrustee | 2 | $0 |
Bo Moreno Secretary, Trustee | OfficerTrustee | 2 | $0 |
Todd Howerton Trustee | Trustee | 1 | $0 |
Donald G Laffoon Trustee | Trustee | 1 | $0 |
Michael Quarles Trustee | Trustee | 1 | $0 |
Ryan Lee Trustee Until 11/1/22 | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Administrative Services | 8/30/23 | $1,028,718 |
Cheiron Inc Consulting Services | 8/30/23 | $184,850 |
Arnold Newbold Sollars And Hollins Legal Services | 8/30/23 | $130,826 |
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 | $50,741,999 |
| Investment income | $2,208,230 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,686 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $54,439,993 |
| 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 | $46,669,308 |
| 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 | $100,887 |
| Fees for services: Accounting | $83,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $114,491 |
| Fees for services: Other | $991,586 |
| Advertising and promotion | $0 |
| Office expenses | $13,422 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,392 |
| Travel | $0 |
| 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 | $7,064 |
| Insurance | $27,402 |
| All other expenses | $100,508 |
| Total functional expenses | $49,472,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,880 |
| Savings and temporary cash investments | $3,560,668 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,258,736 |
| Loans from Officers, Directors, or Controlling Persons | $16,083 |
| 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 | $0 |
| Investments—publicly traded securities | $43,113,186 |
| Investments—other securities | $4,802,679 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $348,687 |
| Total assets | $57,166,919 |
| Accounts payable and accrued expenses | $182,214 |
| 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 | $556,546 |
| Total liabilities | $738,760 |
| 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 | $56,428,159 |
| Total liabilities and net assets/fund balances | $57,166,919 |