International Brotherhood Of Electrical Workers
- Assets
- $61.5m
- Revenue
- $26.6m
- Investments
- $0.0
- Employees
- 41
- Location
- Lanham, MD
- Founding
- 08/1940
- Data as of
- 06/2023
- EIN
- 53-0088390
Organization Overview
International Brotherhood Of Electrical Workers is located in Lanham, MD. 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, International Brotherhood Of Electrical Workers employed 41 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. International Brotherhood Of Electrical Workers 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, International Brotherhood Of Electrical Workers generated $26.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $19.8m during the year ending 06/2023. While expenses have increased by 5.5% 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
TO FURTHER THE PROFESSIONAL AND SOCIAL WELFARE OF MEMBERS OF THE ELECTRICAL INDUSTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PER CAPITA TAXES - TRANSMITTAL OF PER CAPITA TAX PAYMENTS TO INTERNATIONAL, REGIONAL, STATE AND LOCAL COUNCILS TO ADVANCE AND SAFEGUARD THE FULL EMPLOYMENT, ECONOMIC SECURITY, AND SOCIAL WELFARE OF THE MEMBERS
TO ASSURE THAT EVERY WORKER ENOYS THE FULL BENEFIT OF IBEW REPRESENTATION AND MEMBERSHIP FOR A BETTER QUALITY OF LIFE. TO ACHIEVE THE POWER TO SET THE TERMS AND CONDITIONS OF EMPLOYMENT OF EVERY WORKER FOR A BETTER STANDARD OF LIVING. TO ELEVATE THE ECONOMIC, POLITICAL AND SOCIAL STANDING OF EVERY WORKER IN OUR COMMUNITY AND SOCIETY. TO ENABLE IBEW TO PLAY A POSITIVE AND STABALIZING ROLE FOR THE BENEFIT OF THE INDUSTRY PARTICIPANTS, CUSTOMERS AND COMMUNITY AT LARGE. TO ASSUME A LEADING ROLE IN THE REVITALIZING OF THE LABOR MOVEMENT.
RETIREMENT PAYMENTS - BENEFITS COLLECTED FROM ACTIVE MEMBERS AND PAID TO RETIREES; PAYMENT RATE IS $3.00 PER MEMBER TO THE RETIREE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Dabbs Business Manager | Officer | 50 | $196,185 |
Thomas Myers President | OfficerTrustee | 50 | $182,624 |
John Collins Executive Board | Trustee | 50 | $175,277 |
Richard Villano Business Representative | 50 | $170,412 | |
Joseph Brinley Business Representative | 50 | $169,182 | |
Richard Murphy Recording Secretary | Officer | 50 | $169,028 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cti Technology Services | 6/29/23 | $248,739 |
Professional Sports Publications Advertising | 6/29/23 | $169,500 |
Associated Building Maintenance Building Services | 6/29/23 | $293,663 |
Chartwell Investment Partners Llc Investment Services | 6/29/23 | $100,608 |
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 | $24,811,432 |
| Investment income | $1,095,347 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $646,443 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,617,863 |
| 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. | $2,426,232 |
| Compensation of current officers, directors, key employees. | $1,920,233 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,869,630 |
| Pension plan accruals and contributions | $596,423 |
| Other employee benefits | $405,373 |
| Payroll taxes | $366,234 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,291 |
| Fees for services: Accounting | $77,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $115,961 |
| Fees for services: Other | $228,764 |
| Advertising and promotion | $1,140,566 |
| Office expenses | $963,184 |
| Information technology | $98,352 |
| Royalties | $0 |
| Occupancy | $673,693 |
| Travel | $356,041 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $254,319 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $603,092 |
| Insurance | $205,757 |
| All other expenses | $202,901 |
| Total functional expenses | $19,847,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,527,080 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,335,627 |
| 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 | $489,394 |
| Net Land, buildings, and equipment | $2,830,400 |
| Investments—publicly traded securities | $54,026,006 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $279,265 |
| Total assets | $61,487,772 |
| Accounts payable and accrued expenses | $163,079 |
| 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 | $40,004 |
| Total liabilities | $203,083 |
| Net assets without donor restrictions | $61,284,689 |
| 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 | $61,487,772 |