Civic Intelligence

Ibew Local Union 461 Welfare Fund

990 • Fiscal year 2018 • EIN 36-2514448

Jun 01, 2017 to May 31, 2018 • Filed on Jan 18, 2019

Organization ProfileN/A

View Organization Page

6525 Centurion DriveLansing, MI 48917-9275

(517) 321-7502

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

61st percentile

0.05x

Higher debt load relative to assets than 61% of similar nonprofits.

2018 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

59th percentile

0.06x

Higher debt load relative to revenue than 59% of similar nonprofits.

2018 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2018

Net Margin

56th percentile

6.6%

Higher net margin than 56% of similar nonprofits.

2018 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

87th percentile

$188,510

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2018 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2018

Asset Growth

69th percentile

11%

Faster asset growth than 69% of similar nonprofits.

2018 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

87th percentile

26%

Faster revenue growth than 87% of similar nonprofits.

2018 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$6,677,337

Up $646,139 (+11%) from 2017

Net Assets

Up

$6,313,879

Up $511,656 (+8.8%) from 2017

Liabilities

Up

$363,458

Up $134,483 (+59%) from 2017

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin56th percentile

Revenue

Up

$6,387,739

Up $1,334,819 (+26%) from 2017

Expenses

Up

$5,967,335

Up $63,499 (+1.1%) from 2017

Net Income

Up

$420,404

Up $1,271,320 (+149%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2011: $6,244,486Liabilities 2011: $112,869Net Assets 2011: $6,131,6172011Assets 2013: $6,513,299Liabilities 2013: $199,778Net Assets 2013: $6,313,5212013Assets 2014: $6,553,842Liabilities 2014: $255,653Net Assets 2014: $6,298,1892014Assets 2015: $7,089,903Liabilities 2015: $269,980Net Assets 2015: $6,819,9232015Assets 2016: $6,450,785Liabilities 2016: $253,288Net Assets 2016: $6,197,4972016Assets 2017: $6,031,198Liabilities 2017: $228,975Net Assets 2017: $5,802,2232017Assets 2018: $6,677,337Liabilities 2018: $363,458Net Assets 2018: $6,313,8792018Assets 2019: $8,187,918Liabilities 2019: $334,617Net Assets 2019: $7,853,3012019Assets 2020: $8,255,670Liabilities 2020: $390,753Net Assets 2020: $7,864,9172020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2018

Assets$6,677,337
Liabilities$363,458
Net Assets$6,313,879
Open 2018 Filing

Operations Trend

Revenue Growth87th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MExpenses 2011: $3,248,3262011Expenses 2013: $4,218,7752013Revenue 2014: $3,993,733Expenses 2014: $3,624,985Net Income 2014: $368,7482014Revenue 2015: $4,102,461Expenses 2015: $3,558,119Net Income 2015: $544,3422015Revenue 2016: $4,505,280Expenses 2016: $4,974,355Net Income 2016: -$469,0752016Revenue 2017: $5,052,920Expenses 2017: $5,903,836Net Income 2017: -$850,9162017Revenue 2018: $6,387,739Expenses 2018: $5,967,335Net Income 2018: $420,4042018Revenue 2019: $7,571,683Expenses 2019: $5,958,476Net Income 2019: $1,613,2072019Revenue 2020: $7,091,856Expenses 2020: $6,848,607Net Income 2020: $243,2492020Revenue 2021: $6,506,883Expenses 2021: $14,371,800Net Income 2021: -$7,864,9172021

Highlighted filing

2018

Revenue$6,387,739
Expenses$5,967,335
Net Income$420,404
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Jan 18, 2019
Return Version
2017v2.3
Gross Receipts
$8,317,377
Mission and Program Overview

Mission

The organization provides health and welfare benefits to eligible members or on behalf of their dependents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$5,802,223$6,313,879▲ $511,656
Investments in Publicly Traded Securities$5,313,810$5,386,368▲ $72,558
Accounts Receivable$414,165$682,201▲ $268,036
Cash and Non-Interest-Bearing Accounts$275,062$423,970▲ $148,908
Savings and Temporary Cash Investments$4,177$183,836▲ $179,659
Prepaid Expenses and Deferred Charges$23,984$962▼ $23,022
Total Assets$6,031,198$6,677,337▲ $646,139
Liabilities
Other Liabilities$135,907$274,127▲ $138,220
Accounts Payable and Accrued Expenses$93,068$89,331▼ $3,737
Total Liabilities$228,975$363,458▲ $134,483
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,802,223$6,313,879▲ $511,656
Total Liabilities and Net Assets / Fund Balance$6,031,198$6,677,337▲ $646,139

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$100,744$100,744
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleOtherTotal
Mark SeppelfrickTrustee$1,170$1,170

Board Members and Trustees

NameTitle
Bruce AndersonChairman
Craig MartinTrustee
Michael AngeloTrustee
Steve MusichTrustee
Thomas CookTrustee
Tim AssellTrustee
Joel D Pyle IiSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,249,994
Investment Income
$137,745
Other Revenue
$0
Change in Net Assets
$420,404

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,362,572
Revenue Not Reported on Financial Statements
$25,167
Revenue Not Reported on Form 990
$91,252
Total Revenue per Audited Statements
$6,453,824
Total Revenue per Form 990
$6,387,739
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$515,811
Salaries, Compensation, and Employee Benefits$313
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$5,451,211
Fees for Services Legal---$37,308
Fees for Services Accounting---$26,394
Fees for Service Investment Mgmnt Fees---$25,167
Conferences and Meetings---$15,800
Other Expenses---$15,030
All Other Expenses---$7,375
Insurance---$1,360
Payroll Taxes---$313
Total Functional Expenses$0$0$0$5,967,335

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$5,967,335
Expenses per Audited Statements$5,942,168
Total Expenses per Audited Statements$5,942,168
Expenses Not Reported on Financial Statements$25,167
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Contributions Due to Other Locals$274,127
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The organization's membership is made up of neca-ibew local no. 461 union electricians.”

Form 990, Page 6, Part VI, Line 7A

“The fund is administered by eight board of trustee members. Four are designated as union trustees, and shall be appointed by the union. The other four are designated as employer trustees, and shall be appointed by the northeastern illinois chapter of the national electrical contractors association, inc.”

Form 990, Page 6, Part VI, Line 11B

“Copies of the final form 990 and schedules are presented and approved at a board meeting prior to being filed with the irs. Board members are asked to review the return individually and to contact the return preparer, other board members, or executive officers with any questions or concerns.”

Form 990, Page 6, Part VI, Line 12C

“The board of trustees monitors and enforces compliance.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ibew Local Union 461 Welfare Fund
EIN
36-2514448
Phone
5173217502
Address
6525 CENTURION DRIVE, LANSING, MI 48917-9275

Signing Officer

Name
Bruce Anderson
Title
Chairman
Phone
5173217502
Signed
2019-01-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Anderson
Formed
1971
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
6
Employees
11

Preparer

Firm
Eric J Fernandez & Co
Address
895 W MAIN ST STE 1000, WEST DUNDEE, IL 60118-2057
Preparer
Carl L Swanson
Phone
8474287400
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The fund has adopted fasb asc 740-10-25, accounting for uncertainty in income taxes. The fund will record a liability for uncertain tax positions when it is more likely than not that a tax position would not be sustained if examined by a taxing authority. The fund continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. The fund administrator's evaluation on may 31, 2018 revealed no uncertain tax positions that would have a material impact on the financial statements. The 2014 - 2016 tax years remain subject to examination by the irs. The fund administrator does not believe that any reasonably possible changes will occur within the next twelve months that will have a material impact on the financial statements.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FUND HAS ADOPTED FASB ASC 740-10-25, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE FUND WILL RECORD A LIABILITY FOR UNCERTAIN TAX POSITIONS WHEN IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WOULD NOT BE SUSTAINED IF EXAMINED BY A TAXING AUTHORITY. THE FUND CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. THE FUND ADMINISTRATOR'S EVALUATION ON MAY 31, 2018 REVEALED NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. THE 2014 - 2016 TAX YEARS REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE FUND ADMINISTRATOR DOES NOT BELIEVE THAT ANY REASONABLY POSSIBLE CHANGES WILL OCCUR WITHIN THE NEXT TWELVE MONTHS THAT WILL HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalLiabilityAmt0274127
IRS990ScheduleD/TotalRevenuePerForm990Amt06387739
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06453824
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05942168
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt049431
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt147169
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOEL D PYLE II
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1MICHAEL ANGELO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0188510
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1158383
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MEMBERSHIP IS MADE UP OF NECA-IBEW LOCAL NO. 461 UNION ELECTRICIANS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FUND IS ADMINISTERED BY EIGHT BOARD OF TRUSTEE MEMBERS. FOUR ARE DESIGNATED AS UNION TRUSTEES, AND SHALL BE APPOINTED BY THE UNION. THE OTHER FOUR ARE DESIGNATED AS EMPLOYER TRUSTEES, AND SHALL BE APPOINTED BY THE NORTHEASTERN ILLINOIS CHAPTER OF THE NATIONAL ELECTRICAL CONTRACTORS ASSOCIATION, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES OF THE FINAL FORM 990 AND SCHEDULES ARE PRESENTED AND APPROVED AT A BOARD MEETING PRIOR TO BEING FILED WITH THE IRS. BOARD MEMBERS ARE ASKED TO REVIEW THE RETURN INDIVIDUALLY AND TO CONTACT THE RETURN PREPARER, OTHER BOARD MEMBERS, OR EXECUTIVE OFFICERS WITH ANY QUESTIONS OR CONCERNS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF TRUSTEES MONITORS AND ENFORCES COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0LOCAL UNION 461 IBEW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1LOCAL UNION 461 PENSION FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2LOCAL UNION 461 APPRENTICE FUND
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0UNION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2TRAINING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt010
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0true
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt047811
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt115030
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACTUAL AMOUNT RECEIVED
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1ACTUAL AMOUNT PAID
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0LOCAL UNION 461 INTL BROTHERHOOD EL
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1LOCAL UNION 461 INTL BROTHERHOOD EL
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt05967335
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0228975
IRS990/TotalLiabilitiesEOYAmt0363458
IRS990/TotalLiabilitiesGrp/BOYAmt0228975
IRS990/TotalLiabilitiesGrp/EOYAmt0363458
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05802223
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06313879
IRS990/TotalOtherCompensationAmt096600
IRS990/TotalProgramServiceRevenueAmt06249994
IRS990/TotalRevenueGrp/ExclusionAmt0137745
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt06249994
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06387739
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06677337
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IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE ANDERSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum05173217502
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-01-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IBEW LOCAL UNION 461 WELFARE FUND
ReturnHeader/Filer/BusinessNameControlTxt0IBEW
ReturnHeader/Filer/EIN0362514448
ReturnHeader/Filer/PhoneNum05173217502
ReturnHeader/Filer/USAddress/AddressLine1Txt06525 CENTURION DRIVE
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.145.172.124
ReturnHeader/FilingSecurityInformation/IPDt02019-02-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm008:29:06
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363141842

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,677,337
Liabilities
$363,458
Net assets
$6,313,879
Revenue
$6,387,739
Expenses
$5,967,335
Net income
$420,404
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$6.51$14.4$7.86
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.26$0.39$7.86$7.09$6.85$0.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.19$0.33$7.85$7.57$5.96$1.61
2018Detailed filing. Detailed filing data is available for this year.$6.68$0.36$6.31$6.39$5.97$0.42
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.03$0.23$5.80$5.05$5.90$0.85
2016Detailed filing. Detailed filing data is available for this year.$6.45$0.25$6.20$4.51$4.97$0.47
2015Detailed filing. Detailed filing data is available for this year.$7.09$0.27$6.82$4.10$3.56$0.54
2014Detailed filing. Detailed filing data is available for this year.$6.55$0.26$6.30$3.99$3.62$0.37
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.51$0.20$6.31$4.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.24$0.11$6.13$3.25