Liabilities / Assets
76th percentile
Higher debt load relative to assets than 76% of similar nonprofits.
EIN 13-6100908 • 501(c)9 • Flushing, NY
Profile
The Plan has as its principal activities the collection and investment of funds received from electrical and independent employers for the purpose of providing medical and other benefits under the terms of a collective bargaining agreement between Local Union No. 3 of the International Brotherhood of Electrical Workers, AFL- CIO ("Local 3") and electrical and independent employers ("Employers").
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
76th percentile
Higher debt load relative to assets than 76% of similar nonprofits.
Liabilities / Revenue
79th percentile
Higher debt load relative to revenue than 79% of similar nonprofits.
Net Margin
58th percentile
Higher net margin than 58% of similar nonprofits.
Top Officer Pay
44th percentile
Higher top officer pay than 44% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
63rd percentile
Faster asset growth than 63% of similar nonprofits.
Revenue Growth
12th percentile
Faster revenue growth than 12% of similar nonprofits.
Assets
Up$20,000,365
Up $2,030,713 (+11%) from 2023
Liabilities
Down$4,046,176
Down $117,434 (-2.8%) from 2023
Net Assets
Up$15,954,189
Up $2,148,147 (+16%) from 2023
Revenue
Down$21,924,715
Down $3,026,880 (-12%) from 2023
Expenses
Up$20,098,009
Up $914,801 (+4.8%) from 2023
Net Income
Down$1,826,706
Down $3,941,681 (-68%) from 2023
Most recent year
2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
The Plan has as its principal activities the collection and investment of funds received from electrical and independent employers for the purpose of providing medical and other benefits under the terms of a collective bargaining agreement between Local Union No. 3 of the International Brotherhood of Electrical Workers, AFL- CIO ("Local 3") and electrical and independent employers ("Employers").
The collection and investment of funds received from electrical and independent employers for the purpose of providing medical and other benefits under the terms of a collective bargaining agreement between Local Union No. 3 of The International Brotherhood of Electrical Workers, AFL-CIO ("Local 3") and electrical and independent employers ("Employers").
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $12,861,250 | $16,520,341 | ▲ $3,659,091 |
| Rtn Earn Endowment Incm Other Fnds | $13,806,042 | $15,954,189 | ▲ $2,148,147 |
| Accounts Receivable | $1,370,873 | $1,619,514 | ▲ $248,641 |
| Cash and Non-Interest-Bearing Accounts | $875,123 | $559,414 | ▼ $315,709 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $17,969,652 | $20,000,365 | ▲ $2,030,713 |
| Other Assets Total | $2,862,406 | $1,301,096 | ▼ $1,561,310 |
| Liabilities | |||
| Other Liabilities | $4,152,309 | $4,036,975 | ▼ $115,334 |
| Accounts Payable and Accrued Expenses | $11,301 | $9,201 | ▼ $2,100 |
| Total Liabilities | $4,163,610 | $4,046,176 | ▼ $117,434 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $13,806,042 | $15,954,189 | ▲ $2,148,147 |
| Total Liabilities and Net Assets / Fund Balance | $17,969,652 | $20,000,365 | ▲ $2,030,713 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Assets Org | $26,280 | - | - |
| Name | Title |
|---|---|
| Annette Diaz Rivera | Trustee |
| Barry Seitles | Trustee |
| Christopher Erikson | Trustee |
| Christopher Erikson Jr | Trustee |
| Dmetry Shvartsman | Trustee |
| Dominick Cutrone | Trustee |
| Edward Russnow | Trustee |
| Isaac Merlos | Trustee |
| Jerry Schiff | Trustee |
| Jonathan Lifton | Trustee |
| Lance Van Arsdale | Trustee |
| Michael Bellovin | Trustee |
| Mitchell Bloomberg | Trustee |
| Richard Duva Jr | Trustee |
| Robert Olenick | Trustee |
| Thomas Cleary | Trustee |
| Line Item | Amount |
|---|---|
| Other Expenses | $2,084,313 |
| Grants and Similar Amounts Paid | $10,000 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Benefits to Members | - | - | - | $18,003,696 |
| Other Expenses | - | - | - | $1,040,635 |
| Fees for Service Investment Mgmnt Fees | - | - | - | $27,892 |
| Grants to Domestic Individuals | - | - | - | $10,000 |
| Total Functional Expenses | $0 | $0 | $0 | $20,098,009 |
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $20,098,009 |
| Expenses per Audited Statements | $18,640,009 |
| Total Expenses per Audited Statements | $18,640,009 |
| Expenses Not Reported on Financial Statements | $1,458,000 |
| Other Expense Adjustments | $1,458,000 |
| Expenses Not Reported on Form 990 | $0 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Medical, Dental and Other Current Benefits Payable, Including Amounts Incurred But Not Reported | $3,890,000 |
| Due to Broker for Pending Securities Purchased | $105,010 |
| Collateral Payable | $41,965 |
“All significant transactions are approved by the plan's trustees. The plan's financial statements are also approved by the board of trustees.”
“The plan makes its governing documents available to all its members. The plan's financial statemantes are filed with its form 5500.”
“The plan also records benefit obligations which are presented in the footnotes within the audited financial statements. The total benefit obligations as of december 31, 2024 were $37,203,018. This consists of medical, dental and other current benefit amounts incurred but not reported ($3,890,000) and post retirement obligations ($33,313,018).”
“The plan's unrealized gain for the 2024 year.”
“Management evaluated all of the plan's tax positions for all open tax years and has concluded that the plan has taken no uncertain tax positions that require adjustment to the financial statements.”
“Medical, dental and other current benefits payable, including amounts incurred but not reported.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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|---|---|---|
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| IRS990/ActivityOrMissionDesc | 0 | The collection and investment of funds received from electrical and independent employers for the purpose of providing medical and other benefits under the terms of a collective bargaining agreement between Local Union No. 3 of The International Brotherhood of Electrical Workers, AFL-CIO ("Local 3") and electrical and independent employers ("Employers"). |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | Trustee |
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| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 16520341 |
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| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | The Plan has as its principal activities the collection and investment of funds received from electrical and independent employers for the purpose of providing medical and other benefits under the terms of a collective bargaining agreement between Local Union No. 3 of the International Brotherhood of Electrical Workers, AFL- CIO ("Local 3") and electrical and independent employers ("Employers"). |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 13806042 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 15954189 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -27574 |
| IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -27574 |
| IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 321441 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 0 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 0 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrgDoesNotFollowFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 2862406 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 1301096 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | ADMINISTRATIVE FEES |
| IRS990/OtherExpensesGrp/Desc | 1 | CLAIM FEES |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 1015786 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 1040635 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 4152309 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 4036975 |
| IRS990/OtherRevenueTotalAmt | 0 | 0 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | Humberto J Restrepo |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | 0 |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 230000 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 230000 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | EMPLOYER'S CONTRIBUTIONS |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | EMPLOYEES' CONTRIBUTIONS |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 1 | 0 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 21252165 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 56524 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 21252165 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 56524 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 1 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 17166558 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 10000 |
| IRS990/PYInvestmentIncomeAmt | 0 | 278737 |
| IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 2006650 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 24672858 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 5768387 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 19183208 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 24951595 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 1826706 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/PersonalAmt | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 0 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RoyaltiesGrp/TotalAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 13806042 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 15954189 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/DonatedServicesAndUseFcltsAmt | 0 | 0 |
| IRS990ScheduleD/DonatedServicesUseFcltsAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 1458000 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 18640009 |
| IRS990ScheduleD/FederalIncomeTaxLiabilityAmt | 0 | 0 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/InvestmentExpensesNotIncld2Amt | 0 | 0 |
| IRS990ScheduleD/InvestmentExpensesNotIncldAmt | 0 | 0 |
| IRS990ScheduleD/LossesReportedAmt | 0 | 0 |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | 321441 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 41965 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 1089795 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 2 | 42688 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 3 | 100368 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 4 | 26280 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | COLLATERAL FOR SECURITIES LOANED |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | PHARMACY REBATES AND MEDICARE PART D SUBSIDIES RECEIVABLE |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 2 | DUE FROM BROKER FOR PENDING SECURITIES SOLD |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 3 | ACCRUED INTEREST RECEIVABLE |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 4 | DUE FROM THE JOINT INDUSTRY BOARD OF THE ELECTRICAL INDUSTRY |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 0 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 1458000 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 105010 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 41965 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 3890000 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | DUE TO BROKER FOR PENDING SECURITIES PURCHASED |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | COLLATERAL PAYABLE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | MEDICAL, DENTAL AND OTHER CURRENT BENEFITS PAYABLE, INCLUDING AMOUNTS INCURRED BUT NOT REPORTED |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 0 |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | 0 |
| IRS990ScheduleD/PriorYearAdjustmentsAmt | 0 | 0 |
| IRS990ScheduleD/RecoveriesPriorYearGrantsAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 321441 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 21924715 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | MANAGEMENT EVALUATED ALL OF THE PLAN'S TAX POSITIONS FOR ALL OPEN TAX YEARS AND HAS CONCLUDED THAT THE PLAN HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | MEDICAL, DENTAL AND OTHER CURRENT BENEFITS PAYABLE, INCLUDING AMOUNTS INCURRED BUT NOT REPORTED. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule D, Part X, Line 2 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Schedule D, Part XII, Line 4b |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 1301096 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 20098009 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 4036975 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 21924715 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 22246156 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 18640009 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | 1 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt | 0 | 10000 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 0 | SCHOLARSHIP |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt | 0 | 0 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 0 | 2 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | THE PLAN OFFERED SCHOLARSHIPS TO TWO ELIGIBLE INDIVIDUALS. A COMMITTEE REVIEWED THE APPLICANTS AND AWARDS SCHOLARSHIPS OF $5,000 EACH FOR THE YEAR. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule I, Part I, Line 2 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE PLAN ALSO RECORDS BENEFIT OBLIGATIONS WHICH ARE PRESENTED IN THE FOOTNOTES WITHIN THE AUDITED FINANCIAL STATEMENTS. THE TOTAL BENEFIT OBLIGATIONS AS OF DECEMBER 31, 2024 WERE $37,203,018. THIS CONSISTS OF MEDICAL, DENTAL AND OTHER CURRENT BENEFIT AMOUNTS INCURRED BUT NOT REPORTED ($3,890,000) AND POST RETIREMENT OBLIGATIONS ($33,313,018). |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | ALL SIGNIFICANT TRANSACTIONS ARE APPROVED BY THE PLAN'S TRUSTEES. THE PLAN'S FINANCIAL STATEMENTS ARE ALSO APPROVED BY THE BOARD OF TRUSTEES. |
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