Health and Welfare Trust Fund Local 103 IBEW is a health finance organization based in Boston, MA that was founded in 1953. As of 2019 they had $164 million in revenue and $420 million in assets.
The Health benefit plan provides for accident, hospital, medical, pharmaceutical, surgical, dental, disability, and death benefits for eligible members and their families, as specified in the plan.
Previous legal names or variations of their name include: Electrical Workers Health And Welfare Fund Local 103 Ibew.
EIN:
04-6063733
City:
State:
Website:
Founded:
1953
Type:
501(c)(9)
NTEE:
Revenue:
$164,573,542
Assets:
$420,279,849
Employees:
25
Fiscal year end:
November
Program areas at Health and Welfare Trust Fund Local 103 IBEW
The Health benefit plan provides for accident, hospital, medical, pharmaceutical, surgical, dental, disability, and death benefits for eligible members and their families, as specified in the plan.
Form 990s for Health and Welfare Trust Fund Local 103 IBEW
| Fiscal year ending | Date received by IRS | Form | PDF link |
|---|
| 2019-11 | Sep 15, 2020 | 990 | View PDF |
| 2018-11 | Sep 13, 2019 | 990 | View PDF |
| 2017-11 | Oct 16, 2018 | 990 | View PDF |
| 2016-11 | Oct 18, 2017 | 990O | View PDF |
| 2015-11 | Oct 19, 2016 | 990O | View PDF |
| ...and six more Form 990 PDFs |
Financials for Health and Welfare Trust Fund Local 103 IBEW
| Field | 2019 | 2018 | % Change |
|---|
| Federated campaigns | $0 | $0 | |
| Membership dues | $0 | $0 | |
| Fundraising event contributions | $0 | $0 | |
| Related organizations | $0 | $0 | |
| Government grants (contributions) | $0 | $0 | |
| Normal grants, contributions, etc. | $0 | $0 | |
| <em>Non-cash contributions included in above</em> | $0 | $0 | |
| Total grants, contributions, etc. | $0 | $0 | |
| Field | 2019 | 2018 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | |
| Program services | $150,368,555 | $141,409,038 | 6.3% |
| Investment income and dividends | $7,406,318 | $5,922,903 | 25.0% |
| Tax-exempt bond proceeds | $0 | $0 | |
| Royalty revenue | $0 | $0 | |
| Net rental income | $0 | $0 | |
| Net gain from sale of non-inventory assets | $4,974,669 | $-2,084,543 | 338.6% |
| Net income from fundraising events | $0 | $0 | |
| Net income from gaming activities | $0 | $0 | |
| Net income from sales of inventory | $0 | $0 | |
| Miscellaneous revenues | $1,824,000 | $1,998,000 | -8.7% |
| Total revenues | $164,573,542 | $147,245,398 | 11.8% |
| Field | 2019 | 2018 | % Change |
|---|
| Grants to govts. and orgs. in USA | $0 | $0 | |
| Grants to individuals in USA | $0 | $0 | |
| Grants to govts., orgs., and individuals outside USA | $0 | $0 | |
| Benefits paid to or for members | $121,109,596 | $106,769,129 | 13.4% |
| Compensation of current officers, etc. | $209,046 | $327,715 | -36.2% |
| Compensation not included above, to disqualified persons | $0 | $0 | |
| Non-officer salaries and wages | $1,075,370 | $1,132,345 | -5.0% |
| Pension/retirement accruals and contributions | $294,948 | $359,503 | -18.0% |
| Other employee benefits | $505,756 | $550,035 | -8.1% |
| Payroll taxes | $101,259 | $113,910 | -11.1% |
| Management fees | $0 | $0 | |
| Legal fees | $208,147 | $133,674 | 55.7% |
| Accounting fees | $42,500 | $42,500 | |
| Lobbying fees | $0 | $0 | |
| Pro. fundraising fees | $0 | $0 | |
| Investment mgmt fees | $910,822 | $1,013,730 | -10.2% |
| Other fee-for-service | $403,478 | $273,503 | 47.5% |
| Advertising and promotion | $0 | $0 | |
| Office expenses | $111,067 | $107,201 | 3.6% |
| Information tech. expenses | $0 | $0 | |
| Royalty expenses | $0 | $0 | |
| Occupancy | $224,733 | $220,838 | 1.8% |
| Travel | $0 | $0 | |
| Public official travel and entertainment | $0 | $0 | |
| Conferences, meetings, etc. | $59,884 | $78,636 | -23.8% |
| Interest | $0 | $0 | |
| Payments to affiliates | $0 | $0 | |
| Depreciation, amortization, etc. | $46,209 | $46,869 | -1.4% |
| Insurance | $77,922 | $79,201 | -1.6% |
| All other expenses | $492,226 | $459,170 | 7.2% |
| Total expenses | $125,872,963 | $111,707,959 | 12.7% |
| Field | 2019 | 2018 | % Change |
|---|
| Cash (non-interest-bearing) | $11,300,626 | $4,316,574 | 161.8% |
| Savings, short-term investments, etc. | $33,906,161 | $37,522,754 | -9.6% |
| Pledges and grants receivable | $0 | $0 | |
| Accounts receivable | $14,463,636 | $12,976,192 | 11.5% |
| Loans receivable from officers, directors, etc. | $0 | $0 | |
| Loans receivable from other disqualified persons | $0 | $0 | |
| Notes and loans receivable | $0 | $0 | |
| Inventories for use | $0 | $0 | |
| Prepaid expenses and deferred charges | $50,729 | $66,257 | -23.4% |
| Buildings, equipment, etc. post-depreciation | $561,104 | $563,970 | -0.5% |
| Investments, publicly traded securities | $248,692,141 | $206,733,982 | 20.3% |
| Investments, other securities | $108,574,662 | $92,998,078 | 16.7% |
| Investments, program-related | $0 | $0 | |
| Intangible assets | $0 | $0 | |
| Other assets | $2,730,790 | $5,214,625 | -47.6% |
| Total assets | $420,279,849 | $360,392,432 | 16.6% |
| Field | 2019 | 2018 | % Change |
|---|
| Accounts payable and accrued expenses | $227,336 | $316,083 | -28.1% |
| Grants payable | $0 | $0 | |
| Deferred revenue | $0 | $0 | |
| Tax-exempt bond liabilities | $0 | $0 | |
| Escrow or custodial account liability | $0 | $0 | |
| Loans payable to officers and disqualified persons | $0 | $0 | |
| Secured mortgages and notes payable to unrelated third parties | $0 | $0 | |
| Unsecured notes and loans payable to unrelated third parties | $0 | $0 | |
| Other liabilities | $20,253,234 | $17,403,383 | 16.4% |
| Total liabilities | $20,480,570 | $17,719,466 | 15.6% |
| Field | 2019 | 2018 | % Change |
|---|
| Unrestricted net assets | $399,799,279 | $342,672,966 | 16.7% |
| Temporarily restricted net assets | $0 | $0 | |
| Permanently restricted net assets | $0 | $0 | |
Vendors for Health and Welfare Trust Fund Local 103 IBEW
| Vendor | Services | Amount paid | Date |
|---|
| WordPress | Content management system software | | 2020-09-28 |
| █████ ███ ██████████ ███ | Tax accounting | | 2020-09-15 |
| ████ █████ ████ ██████ | Health Claims Administration | $2,474,245 | 2019-11-01 |
| █████ ██████ | Health Care Administration | $330,444 | 2019-11-01 |
| ██████ ██████ ███ ██ ██ | Investment Management | $256,205 | 2019-11-01 |
| ██████ ████████ █████████ | Health Care Administration | $211,782 | 2019-11-01 |
| ██████ ██████████ | Health Care Administration | $262,862 | 2019-11-01 |
Personnel at Health and Welfare Trust Fund Local 103 IBEW
| Name | Title | Compensation | Most recent data |
|---|
| Michael P Donovan | Fund Administrator | $77,502 | Sept. 15, 2020 |
| Joshua Wood | Accounting Manager | $27,420 | Nov. 30, 2019 |
| ███████ ███████ | Fund Administrator | $75,816 | Nov. 30, 2019 |
Peer health care financing and insurance organizations
| | Name | Type | Revenue | Location |
|---|
| 1 | American Maritime Officers Medical Plan | 501(c)(9) | $49 million | Dania Beach, FL |
| 2 | California Schools Benefits Trust | 501(c)(9) | $61 million | San Diego, CA |
| 3 | Wisconsin Counties Association Group Health Trust | 501(c)(9) | $355 million | Madison, WI |
| 4 | Pavers and Roadbuilders DC Welfare Fund | 501(c)(9) | $58 million | Whitestone, NY |
| 5 | American Water Works and Its Designated Subsidiary Affiliated Group Insurance Fund | 501(c)(9) | $115 million | Camden, NJ |
| 6 | Jeff-Lewis Et Al SCH Emp HC Plan | 501(c)(9) | $76 million | Clayton, NY |
| 7 | New England Health Care Employees Welfare Fund | 501(c)(9) | $51 million | Hartford, CT |
| 8 | Carpenters Health and Welfare Fund of Philadelphia | 501(c)(9) | $147 million | Philadelphia, PA |
| 9 | Sound Health & Wellness Trust | 501(c)(9) | $306 million | Bothell, WA |
| 10 | Pipe Fitters Welfare Fund Local 597 | 501(c)(9) | $153 million | Chicago, IL |
| 11 | Southern Ohio Chamber Alliance Benefit Plan | 501(c)(9) | $103 million | Dayton, OH |
| 12 | United Mine Workers of America 1993 Benefit Plan | 501(c)(9) | $444 million | Washington, DC |
| 13 | Board of Trustees Greater St Louis Construction Laborers Welfare Fund | 501(c)(9) | $54 million | St Louis, MO |
| 14 | Painting Industry Insurance Fund | 501(c)(9) | $108 million | New York, NY |
| 15 | Indiana Laborers Welfare Fund | 501(c)(9) | $98 million | Terre Haute, IN |
| 16 | Plumbers Local Union No 1 Welfare Fund | 501(c)(9) | $91 million | Long Island City, NY |
| 17 | Ohio Carpenters' Health Fund | 501(c)(9) | $139 million | Columbus, OH |
| 18 | International Operating Engineers Union 49 Health and Welfare Fund | 501(c)(9) | $187 million | Bloomington, MN |
| 19 | Local 94 94A 94B Health and Benefit Trust Fund IUOE AFL-CIO | 501(c)(9) | $156 million | New York, NY |
| 20 | Sheet Metal Workers Local 73 Welfare Fund | 501(c)(9) | $57 million | Hillside, IL |
| 21 | Milwaukee Drivers Health and Welfare Trust Fund | 501(c)(9) | $49 million | Milwaukee, WI |
| 22 | Pipefitters Union Local No 537 Health and Welfare Fund | 501(c)(9) | $43 million | Dorchester, MA |
| 23 | Johnson and Johnson Veba Trust | 501(c)(9) | $760 million | Quincy, MA |
| 24 | Massachusetts Mutual Agents Health Benefit Trust | 501(c)(9) | $100 million | Springfield, MA |
| 25 | IUOE Local 4 Health & Welfare Plan | 501(c)(9) | $59 million | Medway, MA |