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Nonprofit · EIN 22-6487222

IBEW LOCAL 102 WELFARE FUND

Tax-exempt · PARSIPPANY, NJ 07054

Financials

$74.2M$70.5M2023$72.6M$72.3M2024
Revenue Expenses · by fiscal year end
Financials of IBEW LOCAL 102 WELFARE FUND by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$72,614,838$72,274,952$339,886$117,021,381$7,943,093$109,078,288
December 31, 2023990$74,151,516$70,546,327$3,605,189$113,392,233$6,472,777$106,919,456
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$68,029,771
Investment income
$3,312,042
Net gain from sales of assets
$268,963
Other revenue
$1,273,025

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$70,571,745
Compensation of officers, directors and key employees
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Legal fees
$69,762
Accounting fees
$99,474
Program services (functional)
$70,571,745
Management and general (functional)
$1,703,207

Balance sheet and other

Total assets, start of year
$113,392,233
Total assets, end of year
$117,021,381
Total liabilities, end of year
$7,943,093
Net assets, end of year
$109,078,288
Publicly traded securities
$93,254,212
Gross receipts
$92,484,889
Employees
0
Year formed
1991
State of legal domicile
NJ

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
BERNARD CORRIGANTrustee
Trustee or director
1$0
JAMES ESTABROOKTrustee
Trustee or director
1$0
DAVID FIORETrustee
Trustee or director
1$0
PETER CHECHETrustee
Trustee or director
1$0
ROBERT WILLIAMSON IIITrustee
Trustee or director
1$0
PAUL FIORETrustee
Trustee or director
1$0
990 for the year ended December 31, 2023: 6 people
NameTitleHours / weekCompensation
BERNARD CORRIGANTrustee
Trustee or director
1$0
JAMES ESTABROOKTrustee
Trustee or director
1$0
DAVID FIORETrustee
Trustee or director
1$0
PETER CHECHETrustee
Trustee or director
1$0
ROBERT WILLIAMSON IIITrustee
Trustee or director
1$0
PAUL FIORETrustee
Trustee or director
1$0

Address and contacts

Address (IRS master file)
50 PARSIPPANY ROAD, PARSIPPANY, NJ 07054-2740
In care of
% IE SHAFFER & CO
Principal officer (990 for 2024)
BERNARD CORRIGAN, 50 PARSIPPANY ROAD, PARSIPPANY, NJ 07054
Signed the 990
BERNARD CORRIGAN, Trustee
Phone
(973) 887-1718
Return prepared by
DAVID A GERSON CPA & ASSOCIATES PC

Mission

PROVIDE GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDED GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.
    Expenses $70,571,745 · revenue $68,029,771

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Check at the IRS
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
22-6487222
Tax-exempt status
501(c)(9): Voluntary employees' beneficiary association
Donations deductible
No
Exempt since
1993
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$121,777,356
Income (IRS master file)
$123,965,839

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$72,614,838$72,274,952$117,021,381XML
990December 2023$74,151,516$70,546,327$113,392,233XML
990December 2022$51,726,015$64,905,471$108,229,917IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-6487222).

Questions about IBEW LOCAL 102 WELFARE FUND

What is the EIN of IBEW LOCAL 102 WELFARE FUND?
The employer identification number (EIN) of IBEW LOCAL 102 WELFARE FUND is 22-6487222.
Is IBEW LOCAL 102 WELFARE FUND tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(9) since 1993.
Are donations to IBEW LOCAL 102 WELFARE FUND tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does IBEW LOCAL 102 WELFARE FUND file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of IBEW LOCAL 102 WELFARE FUND due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did IBEW LOCAL 102 WELFARE FUND last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of IBEW LOCAL 102 WELFARE FUND?
The 990 for the year ended December 31, 2024 names BERNARD CORRIGAN.
Who are the officers and directors of IBEW LOCAL 102 WELFARE FUND?
The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
How much revenue does IBEW LOCAL 102 WELFARE FUND have?
On its 990 for the year ended December 31, 2024 it reported revenue of $72,614,838, expenses of $72,274,952 and total assets of $117,021,381 at year end.

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