Tidewater Electrical Industry Health Fund
- Assets
- $5.1m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 9
- Location
- Norfolk, VA
- Founding
- 06/1963
- Data as of
- 12/2023
- EIN
- 54-6052370
Organization Overview
Tidewater Electrical Industry Health Fund is located in Norfolk, VA. The organization was established in 1963. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2023, Tidewater Electrical Industry Health Fund employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tidewater Electrical Industry Health Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Tidewater Electrical Industry Health Fund generated $5.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $6.1m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 9 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
THE PROVISION OF BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROVISION OF HEALTH, DENTAL, VISION, TEMPORARY DISABILITY AND LIFE INSURANCE BENEFITS TO PLAN PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Blankenburg Trustee | Trustee | 2 | $0 |
W Dennis Floyd Secretary | OfficerTrustee | 2 | $0 |
Eg Middleton III Chairman | OfficerTrustee | 2 | $0 |
Robert M Mann Jr Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Bcbs Ppo | 12/30/23 | $214,564 |
Southern Benefit Administrators Inc Administrator | 12/30/23 | $140,448 |
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 | $5,204,678 |
| Investment income | $347,032 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$107,038 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,901,561 |
| 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 | $5,351,575 |
| 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 | $3,685 |
| Fees for services: Management | $120,000 |
| Fees for services: Legal | $18,628 |
| Fees for services: Accounting | $16,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,593 |
| Fees for services: Other | $237,492 |
| Advertising and promotion | $0 |
| Office expenses | $7,528 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,095 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $353,106 |
| All other expenses | $3,973 |
| Total functional expenses | $6,141,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $344,762 |
| Savings and temporary cash investments | $14,149 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $717,488 |
| 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 | $4,265 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,979,224 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,059,888 |
| Accounts payable and accrued expenses | $726,400 |
| 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 | $2,015,335 |
| Total liabilities | $2,741,735 |
| Net assets without donor restrictions | $2,318,153 |
| 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 | $5,059,888 |