Electrical Workers Insurance Fund
501(c)(9)
Strong reserves
Electrical Workers Insurance Fund is a 501(c)(9) organization based in Madison Hts, Michigan, registered in 1954, with $81,460,286 in FY2023 revenue.
Po Box 71337, Madison Hts, MI, 48071 EIN 38-1393235 Since 1954
Revenue (FY2023)
$81.5M
▲ 13.8% vs prior year
Expenses (FY2023)
$80.3M
Net assets
$128.8M
Employees
14
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Electrical Workers Insurance Fund— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating19 mo reserves · +1% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Electrical Workers Insurance Fund: 19 mo reserves · +1% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Electrical Workers Insurance Fund: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Electrical Workers Insurance Fund: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
The fund was established by collective-bargaining between ibew local 58 and smc neca to provide health insurance to member electricians and their families. over 5,800 participants and 6,700 beneficiaries & dependents benefit.
Contact & location
- Address
- Po Box 71337, Madison Hts, MI, 48071
- City
- Madison Hts
- State
- Michigan
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $55.7M (FY2013) to $81.5M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $1.4MNet assets $128.8M
Operating margin
1.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$130.2M
Total liabilities
$1.4M
Net assets
$128.8M
Salaries & benefits
$1.8M
2% of expenses
Board members
6
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $81,460,286▲13.8% | $80,320,439▲7.2% | $128,824,052▲11.3% | $130,217,795▲11.1% | 990 |
| 2022 | $71,557,544▲5.0% | $74,914,679▼6.9% | $115,785,325▲0.1% | $117,212,126▲0.4% | 990 |
| 2021 | $68,169,519▼6.1% | $80,453,786▲8.6% | $115,684,562▼21.8% | $116,743,613▼22.1% | 990 |
| 2020 | $72,595,227▲9.9% | $74,072,803▲11.9% | $147,881,517▲3.1% | $149,911,774▲2.1% | 990 |
| 2019 | $66,063,414▲1.2% | $66,174,969▲18.3% | $143,424,545▲3.6% | $146,791,234▲5.5% | 990 |
| 2018 | $65,304,291▼9.7% | $55,922,974▼13.5% | $138,422,786▲9.8% | $139,109,653▲9.8% | 990 |
| 2017 | $72,287,597▼17.5% | $64,634,393▲6.7% | $126,042,876▲4.9% | $126,749,026▲4.0% | 990 |
| 2016 | $87,633,383▲42.3% | $60,598,378▲5.7% | $120,116,973▲23.7% | $121,857,238▲25.0% | 990 |
| 2015 | $61,576,989▼2.5% | $57,355,510▲9.8% | $97,116,341▲7.2% | $97,463,960▲7.1% | 990 |
| 2014 | $63,131,836▲13.4% | $52,231,864▲3.2% | $90,613,779▲11.5% | $91,023,804▲10.6% | 990 |
| 2013 | $55,658,684 | $50,615,549▲1.0% | $81,233,373▲9.6% | $82,267,908▲10.6% | 990 |
| 2012 | — | $50,137,642▼9.3% | $74,145,052▲15.9% | $74,406,063▲15.9% | 990 |
| 2011 | — | $55,275,224▲3.2% | $63,992,825▲14.6% | $64,201,281▲14.1% | 990 |
| 2010 | — | $53,561,287▼3.3% | $55,846,969▲11.0% | $56,269,684▲11.5% | 990 |
| 2009 | — | $55,389,173 | $50,291,231 | $50,479,336 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: E Craig Young — $381,950 (0.48% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| E Craig Young | Benefits Dir | 40 | $381,950 |
| Michele Davis | Asst Benefit | 40 | $146,500 |
| Sarah Padgett | Asst Benefit | 40 | $144,524 |
| Jessica Cyprus | Accountant | 40 | $102,625 |
| William Darish | Trustee | 1 | $1 |
| James Peltier | Trustee-past | 1 | — |
| James Soosik | Trustee | 1 | — |
| Jason Head | Trustee | 1 | — |
| John Fulgenzi | Trustee | 1 | — |
| Joseph Diederichs | Trustee | 1 | — |
| Kimberly L'heureux | Trustee | 1 | — |
| Steven Wellein | Trustee-past | 1 | — |
| Thomas Mittelbrun III | Trustee-past | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Professional Benefits Services Inc | Claims Processo | $5,329,981 |
| Delta Dental of Michigan | Claim Processin | $210,237 |
| Pnc Bank Institutional Investments | Investment Mgt | $153,810 |
| Part D Advisors | Medicare Consul | $123,676 |
Frequently asked questions
- Is Electrical Workers Insurance Fund a legitimate nonprofit?
- Yes. Electrical Workers Insurance Fund is a 501(c)(9) organization registered with the U.S. Internal Revenue Service under EIN 38-1393235, based in Madison Hts, Michigan.
- What is Electrical Workers Insurance Fund's EIN?
- Electrical Workers Insurance Fund's Employer Identification Number (EIN) is 38-1393235.
- How much revenue does Electrical Workers Insurance Fund report?
- Electrical Workers Insurance Fund reported $81,460,286 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much does Electrical Workers Insurance Fund's highest-paid employee make?
- The highest reported compensation on Electrical Workers Insurance Fund's latest Form 990 is $381,950, paid to E Craig Young (Benefits Dir).
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Data for Electrical Workers Insurance Fund (EIN 38-1393235) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.