Maryland Electrical Industry Health Fund

The information for Maryland Electrical Industry Health Fund is as of the organization's most recent filing in December 2018. This organization is located in Rosedale, MD. It has been in existence for 55 years, following its founding in 1963.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Maryland Electrical Industry Health Fund's NTEE code is Y43. The "Y" tells us that the organization is classified along with Voluntary Employees Beneficiary Associations (Non-Government). The "43" tells us that the organization is a Mutual & Membership Benefit. The NTEE describes Mutual & Membership Benefit as non-governmental organizations that provide for the payment of life, sick, accident, or other benefits to the voluntary members of associations or their dependents or designated beneficiaries. This code is used exclusively for organizations exempt from federal taxes under 501(c)(9) of the Internal Revenue Code.

Every organization is also governed by a specific section of the Internal Revenue Code. This organization happens to be a 501(c)(9) organization. The IRS describes these organizations as Voluntary Employee Beneficiary Associations.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of the Maryland Electrical Industry Health Fund is to provide medical and related benefits.

Program Areas

The fund exists to provide medical, dental, prescription drug and death benefits to participating members.

Organization Staffing

Maryland Electrical Industry Health Fund has 61 employees, none of whom were paid more than $100k according to the organization's most recent 990 tax filing. There were no volunteers supporting the paid staff.

Board Governance

The Maryland Electrical Industry Health Fund is well-governed, with 10 voting members and no potential conflicts of interest. The organization has delegated management to an outside firm, and board meetings are documented. Furthermore, the organization has a conflict of interest policy and requires disclosure of conflicts. It also has a written whistleblower policy and a document retention policy. The organization also provides copies of the 990 to the board prior to filing. However, the organization does not substantiate and review leadership or officer salaries. Overall, the Maryland Electrical Industry Health Fund is well-governed and has taken the necessary steps to ensure transparency and good governance.

Organization Growth

The Maryland Electrical Industry Health Fund has grown significantly over the given time period. Program Service Revenue increased from $21.8M in 2014 to $31.7M in 2018, and Total Revenue increased from $22.2M in 2014 to $31.9M in 2018. Benefits Paid to Members also increased from $22.5M in 2014 to $25.4M in 2018. However, Investment Income decreased from $406.2K in 2014 to $237.5K in 2018, Other Revenue decreased from $15.6K in 2014 to $13.8K in 2018, and Employee Salaries decreased from $22.4K in 2014 to $17.2K in 2018. Furthermore, Total Expenses increased from $24.7M in 2014 to $27.2M in 2018, and Total Employees decreased from 67 in 2014 to 61 in 2018.