Civic Intelligence

Electrical Workers Local 292 Supplemental Unemployment Benefit Plan

990 • Fiscal year 2024 • EIN 41-1876011

May 01, 2023 to Apr 30, 2024 • Filed on Mar 13, 2025

6700 W Broadway Avenue BBrooklyn Park, MN 55428

(763) 493-8830

Siviq Scores

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

Liabilities / Assets

38th percentile

0.00x

Higher debt load relative to assets than 38% of similar nonprofits.

2024 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

51st percentile

0.03x

Higher debt load relative to revenue than 51% of similar nonprofits.

2024 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2024

Net Margin

71st percentile

20%

Higher net margin than 71% of similar nonprofits.

2024 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

86th percentile

$245,285

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2024 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2024

Asset Growth

29th percentile

2.1%

Faster asset growth than 29% of similar nonprofits.

2024 filings • 501(c)9 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

76th percentile

21%

Faster revenue growth than 76% of similar nonprofits.

2024 filings • 501(c)9 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$14,135,282

Up $295,533 (+2.1%) from 2023

Net Assets

Up

$14,091,282

Up $251,533 (+1.8%) from 2023

Liabilities

Up

$44,000

Up $44,000 from 2023

Revenue

Up

$1,629,726

Up $283,419 (+21%) from 2023

Expenses

Up

$1,307,845

Up $60,459 (+4.8%) from 2023

Net Income

Up

$321,881

Up $222,960 (+225%) from 2023

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2011: $9,969,117Liabilities 2011: $4,390Net Assets 2011: $9,964,7272011Assets 2012: $10,224,292Liabilities 2012: $203Net Assets 2012: $10,224,0892012Assets 2013: $11,077,176Liabilities 2013: $6,435Net Assets 2013: $11,070,7412013Assets 2014: $11,154,043Liabilities 2014: $224Net Assets 2014: $11,153,8192014Assets 2015: $11,627,487Liabilities 2015: $7,265Net Assets 2015: $11,620,2222015Assets 2016: $12,321,407Liabilities 2016: $11,228Net Assets 2016: $12,310,1792016Assets 2017: $12,675,085Liabilities 2017: $8,163Net Assets 2017: $12,666,9222017Assets 2018: $13,241,210Liabilities 2018: $20,632Net Assets 2018: $13,220,5782018Assets 2019: $13,445,020Liabilities 2019: $34,489Net Assets 2019: $13,410,5312019Assets 2020: $14,157,140Liabilities 2020: $0Net Assets 2020: $14,157,1402020Assets 2021: $14,488,728Liabilities 2021: $0Net Assets 2021: $14,488,7282021Assets 2022: $13,983,238Liabilities 2022: $0Net Assets 2022: $13,983,2382022Assets 2023: $13,839,749Liabilities 2023: $0Net Assets 2023: $13,839,7492023Assets 2024: $14,135,282Liabilities 2024: $44,000Net Assets 2024: $14,091,2822024Assets 2025: $15,873,818Liabilities 2025: $0Net Assets 2025: $15,873,8182025

Highlighted filing

2024

Assets$14,135,282
Liabilities$44,000
Net Assets$14,091,282

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,798,1152011Expenses 2012: $1,573,6652012Expenses 2013: $1,118,4222013Revenue 2014: $1,524,360Expenses 2014: $1,515,494Net Income 2014: $8,8662014Revenue 2015: $1,588,401Expenses 2015: $1,281,251Net Income 2015: $307,1502015Revenue 2016: $1,861,500Expenses 2016: $1,133,551Net Income 2016: $727,9492016Revenue 2017: $1,533,331Expenses 2017: $1,489,717Net Income 2017: $43,6142017Revenue 2018: $2,098,343Expenses 2018: $1,572,024Net Income 2018: $526,3192018Revenue 2019: $1,733,138Expenses 2019: $1,912,857Net Income 2019: -$179,7192019Revenue 2020: $1,800,652Expenses 2020: $1,495,586Net Income 2020: $305,0662020Revenue 2021: $1,700,536Expenses 2021: $1,666,132Net Income 2021: $34,4042021Revenue 2022: $1,459,997Expenses 2022: $1,394,269Net Income 2022: $65,7282022Revenue 2023: $1,346,307Expenses 2023: $1,247,386Net Income 2023: $98,9212023Revenue 2024: $1,629,726Expenses 2024: $1,307,845Net Income 2024: $321,8812024Revenue 2025: $2,133,029Expenses 2025: $1,003,012Net Income 2025: $1,130,0172025

Highlighted filing

2024

Revenue$1,629,726
Expenses$1,307,845
Net Income$321,881
Jump To
Filing Snapshot
Filing Period
May 1, 2023 to Apr 30, 2024
Signed
Mar 13, 2025
Return Version
2023v6.0
Gross Receipts
$1,950,422
Mission and Program Overview

Mission

To help provide financial security to eligible participants in the event they become unemployed.

Provide supplemental unemployment benefits

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$13,839,749$14,091,282▲ $251,533
Investments in Publicly Traded Securities$9,397,885$9,630,057▲ $232,172
Investments Other Securities$3,817,392$4,076,131▲ $258,739
Savings and Temporary Cash Investments$451,062$358,680▼ $92,382
Accounts Receivable$89,312$75,972▼ $13,340
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Cash and Non-Interest-Bearing Accounts$-6,331$-28,245▼ $21,914
Total Assets$13,839,749$14,135,282▲ $295,533
Other Assets Total$90,429$22,687▼ $67,742
Liabilities
Other Liabilities$0$44,000▲ $44,000
Total Liabilities$0$44,000▲ $44,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$13,839,749$14,091,282▲ $251,533
Total Liabilities and Net Assets / Fund Balance$13,839,749$14,135,282▲ $295,533

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,479,048--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dan FergusonLabor Trustee - Chairman
David MandersonManagement Trustee - Chairman-past
Jeffrey HeimerlLabor Trustee
Jennifer MudgeLabor Trustee
John KripotosLabor Trustee - Alternate
Kristin CausbyManagement Trustee
Laura KarowManagement Trustee
Ryan MorrisManagement Trustee
Jerry HeinManagement Trustee - Secretary
Carla GruetzmacherAdministrative Manager
Ann KellenFinance Manager
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,221,343
Investment Income
$408,383
Other Revenue
$0
Change in Net Assets
$321,881

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,626,001
Revenue Not Reported on Financial Statements
$3,725
Revenue Not Reported on Form 990
$-70,348
Total Revenue per Audited Statements
$1,555,653
Total Revenue per Form 990
$1,629,726
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$224,989
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$1,082,856
Other Expenses---$190,065
Fees for Services Accounting---$14,548
Fees for Service Investment Mgmnt Fees---$10,725
Insurance---$5,629
Fees for Services Legal---$2,426
Office Expenses---$1,596
Total Functional Expenses$0$0$0$1,307,845

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,307,845
Expenses per Audited Statements$1,304,120
Total Expenses per Audited Statements$1,304,120
Expenses Not Reported on Financial Statements$3,725
Expenses Not Reported on Form 990$0
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
Due to Related Party$44,000
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 35% controlled entity
No
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, Part VI, Section A, Line 7A

Three trustees are appointed by the union and three trustees are appointed by the contractors association. The union and the contractors association may each also appoint up to one alternate trustee who will be qualified to act only in the absence of a trustee.

Form 990, Part VI, Section A, Line 8B

There are no committees with the authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

Form 990 is provided to, reviewed and approved by the entire board of trustees prior to signature by a trustee.

Form 990, Part VI, Section B, Line 12C

The trustees review the plan's conflict of interest policy annually with the plan's attorney and are required to sign an annual certification of compliance with the policy. In addition, to ensure the plan operates in a manner consistent with its purposes and does not engage in activities that could jeopardize its lawful status and fiduciary obligations, periodic reviews of compliance with the conflict of interest policy are conducted.

Form 990, Part VI, Section C, Line 19

The plan makes its governing documents, conflict of interest policy and financial statements available upon request at the plan office.

FORM 990, PART VII, SECTION A, LINE 1:

The plan's highest compensated employees are shared employees with numerous related organizations, one of which is responsible for payroll. The reporting organization reimburses the related organization responsible for payroll for its allocated portion of salary and salary related expenses.

Filing and Contact Details

Filer

Filer Name
Electrical Workers Local 292
EIN
41-1876011
Phone
7634938830
Address
6700 W BROADWAY AVENUE B, BROOKLYN PARK, MN 55428

Signing Officer

Name
Dan Ferguson
Title
Trustee
Phone
7634938830
Signed
2025-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Ferguson
Formed
1997
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
1
Employees
316
Volunteers
0

Preparer

Firm
Legacy Professionals Llp
Address
6800 FRANCE AVENUE SO SUITE 550, EDINA, MN 55435
Preparer
Jacob D Eklund
Phone
9528413950
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require the plan to evaluate tax positions taken and recognize a tax liability if the plan has taken uncertain tax positions that more likely than not would not be sustained upon examination by tax authorities. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

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IRS990/ProgramServiceRevenueGrp/Desc1LIQUIDATED DAMAGES
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt03725
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11479048
IRS990ScheduleD/OtherSecuritiesGrp/Desc0COMMON COLLECTIVE TRUST
IRS990ScheduleD/OtherSecuritiesGrp/Desc1LIMITED LIABILITY COMPANY
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
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IRS990ScheduleD/RevenueSubtotalAmt01626001
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THE PLAN TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY IF THE PLAN HAS TAKEN UNCERTAIN TAX POSITIONS THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt520813
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JEFFREY HEIMERL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CARLA GRUETZMACHER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2JENNIFER MUDGE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3DAN FERGUSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4JOHN KRIPOTOS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm5ANN KELLEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0LABOR TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1ADMINISTRATIVE MANAGER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2LABOR TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3LABOR TRUSTEE - CHAIRMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4LABOR TRUSTEE - ALTERNATE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt5FINANCE MANAGER
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THREE TRUSTEES ARE APPOINTED BY THE UNION AND THREE TRUSTEES ARE APPOINTED BY THE CONTRACTORS ASSOCIATION. THE UNION AND THE CONTRACTORS ASSOCIATION MAY EACH ALSO APPOINT UP TO ONE ALTERNATE TRUSTEE WHO WILL BE QUALIFIED TO ACT ONLY IN THE ABSENCE OF A TRUSTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PROVIDED TO, REVIEWED AND APPROVED BY THE ENTIRE BOARD OF TRUSTEES PRIOR TO SIGNATURE BY A TRUSTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TRUSTEES REVIEW THE PLAN'S CONFLICT OF INTEREST POLICY ANNUALLY WITH THE PLAN'S ATTORNEY AND ARE REQUIRED TO SIGN AN ANNUAL CERTIFICATION OF COMPLIANCE WITH THE POLICY. IN ADDITION, TO ENSURE THE PLAN OPERATES IN A MANNER CONSISTENT WITH ITS PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS LAWFUL STATUS AND FIDUCIARY OBLIGATIONS, PERIODIC REVIEWS OF COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ARE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PLAN MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST AT THE PLAN OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PLAN'S HIGHEST COMPENSATED EMPLOYEES ARE SHARED EMPLOYEES WITH NUMEROUS RELATED ORGANIZATIONS, ONE OF WHICH IS RESPONSIBLE FOR PAYROLL. THE REPORTING ORGANIZATION REIMBURSES THE RELATED ORGANIZATION RESPONSIBLE FOR PAYROLL FOR ITS ALLOCATED PORTION OF SALARY AND SALARY RELATED EXPENSES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$15.9$0.00$15.9$2.13$1.00$1.13
2024Detailed filing. Detailed filing data is available for this year.$14.1$0.04$14.1$1.63$1.31$0.32
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$0.00$13.8$1.35$1.25$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$0.00$14.0$1.46$1.39$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.5$0.00$14.5$1.70$1.67$0.03
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.2$0.00$14.2$1.80$1.50$0.31
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.4$0.03$13.4$1.73$1.91$0.18
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.2$0.02$13.2$2.10$1.57$0.53
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$0.01$12.7$1.53$1.49$0.04
2016Detailed filing. Detailed filing data is available for this year.$12.3$0.01$12.3$1.86$1.13$0.73
2015Detailed filing. Detailed filing data is available for this year.$11.6$0.01$11.6$1.59$1.28$0.31
2014Detailed filing. Detailed filing data is available for this year.$11.2$0.00$11.2$1.52$1.52$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$0.01$11.1$1.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$0.00$10.2$1.57
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.97$0.00$9.96$1.80