International Brotherhood Of Electrical Workers
- Assets
- $7.9m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 4
- Location
- Oak Ridge, TN
- Founding
- 03/1953
- Data as of
- 12/2023
- EIN
- 62-0514370
Organization Overview
International Brotherhood Of Electrical Workers, operating under the name Ibew - Local 270, is located in Oak Ridge, TN. The organization was established in 1953. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2023, Ibew - Local 270 employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Ibew - Local 270 is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2023, Ibew - Local 270 generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 29.9% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 9.3% per year over the past 8 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
ELECTRICAL WORKERS 270 WAS CHARTED ON JULY 1, 1952. WE AIM: TO PURSUE AND ESTABLISH AND MAINTAIN AN ADEQUATE WAGE FOR OUR LABOR. TO REQUIRE OF OUR MEMBERS SKILL, INTELLIGENCE AND CHARACTER. TO PROTECT OUR EMPLOYERS AGAINST THE UNSKILLED AND INEXPERIENCED WORKER. TO ADVANCE THE PRINCIPLES OF CONCILIATION AND ARBITRATION IN THE SETTLEMENT OF ANY DIFFERENCE WITH OUR EMPLOYERS. TO DEFEND OUR RIGHTS AND ADVANCE OUR INTERESTS AS ELECTRICAL WORKERS BY ALL LAWFUL MEANS. TO AID AND ENCOURAGE ALL HONORABLE EFFORTS THAT WILL BETTER THE CONDITIONS OF LABOR. TO MAKE OUR CARD AND SEAL A CERTIFICATE OF FRATERNITY, HONESTY, EFFICIENCY AND RELIABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEMBERS BENEFITS AS OUTLINED DIRECTLY IN OUR EXEMPT PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Freshour Jr President | OfficerTrustee | 1 | $0 |
Jake Lequire Vice-Preside | OfficerTrustee | 1 | $0 |
Terry Miller Recording Se | OfficerTrustee | 1 | $0 |
Daniel Smith Business Man | OfficerTrustee | 40 | $0 |
Daivd Williamson Treasurer | OfficerTrustee | 1 | $0 |
Chris Ackerman Examining Bo | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,565,935 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,745 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,590,680 |
| Total Program Service Revenue | $0 |
| Investment income | $162,559 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,753,239 |
| 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. | $131,513 |
| Compensation of current officers, directors, key employees. | $131,513 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $300,609 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $141,319 |
| Payroll taxes | $33,228 |
| Fees for services: Management | $39,416 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $390,753 |
| Advertising and promotion | $37,323 |
| Office expenses | $48,438 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,818 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,956 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,174 |
| Insurance | $6,333 |
| All other expenses | $18,622 |
| Total functional expenses | $1,315,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $433,445 |
| Savings and temporary cash investments | $1,360,349 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $4,579 |
| Net Land, buildings, and equipment | $1,048,682 |
| Investments—publicly traded securities | $5,067,580 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,547 |
| Total assets | $7,919,182 |
| Accounts payable and accrued expenses | $35,888 |
| 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 | $2,033 |
| Total liabilities | $37,921 |
| Net assets without donor restrictions | $7,841,291 |
| Net assets with donor restrictions | $39,970 |
| 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 | $7,919,182 |