HEALTH AND WELFARE TRUST FUND LOCAL 103 IBEW

EIN: 046063733

BOSTON, MA

Total Revenue
$162,077,729
Total Expenses
$168,549,593
Total Assets
$500,306,674
Net Assets
$461,385,211
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1953
Legal Domicile
MA
Principal Officer
MICHAEL P DONOVAN
Phone
6172885999
Tax Period
2023-12-01 to 2024-11-30

HEALTH AND WELFARE TRUST FUND LOCAL 103 IBEW, founded in 1953, is a major nonprofit that reported $162.1M in total revenue in fiscal year 2023. Net assets of $461.4M represent 34 months of operating reserves.

Mission

THE HEALTH BENEFIT PLAN PROVIDES FOR ACCIDENT, HOSPITAL, MEDICAL, PHARMACEUTICAL, SURGICAL, DENTAL,VISION, DISABILITY, FERTILITY, PARENTAL LEAVE, AND DEATH BENEFITS FOR ELIGIBLE MEMBERS AND THEIR FAMILIES, AS SPECIFIED IN THE PLAN.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $136,908,207
Investment Income $23,176,522
Other Revenue $1,993,000
TOTAL REVENUE $162,077,729

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,847,615
Fundraising Expenses $0
Other Expenses $2,860,940
TOTAL EXPENSES $168,549,593

Year-over-Year Comparison

2023 2022 Change
Revenue $162,077,729 $154,655,435 +0.0%
Expenses $168,549,593 $158,515,191 +0.1%
Net Income $-6,471,864 $-3,859,756 +0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
23
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$362,198
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LOUIS J ANTONELLIS TRUSTEE 1.00
Director
$0 $0 $0
RICHARD ANTONELLIS JR TRUSTEE 1.00
Director
$0 $0 $0
ROBERT S SHEEHAN JR TRUSTEE 1.00
Director
$0 $0 $0
RENEELEONA DOZIER TRUSTEE 1.00
Director
$0 $0 $0
WILLIAM E WEBER JR TRUSTEE 1.00
Director
$0 $0 $0
KRISTEN E GOWIN TRUSTEE 1.00
Director
$0 $0 $0
KATHLEEN E GUINEE TRUSTEE 1.00
Director
$0 $0 $0
JOHN MCLAUGHLIN TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL P DONOVAN FUND ADMINISTRATOR 29.00
Officer
$289,422 $72,776 $362,198
JOSHUA H WOOD CONTROLLER 13.00
Highest
$154,990 $59,843 $214,833
LAUREN E BRONSKE REMIT./ELIG. SUPERVISOR 22.00
Highest
$109,784 $59,280 $169,064
VERONICA MULKERN H & W SUPERVISOR 39.00
Highest
$110,237 $59,286 $169,523
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $162,077,729 $168,549,593 $500,306,674 $-6,471,864
2023 $154,655,435 $158,515,191 $468,434,698 $-3,859,756
2022 $217,395,543 $146,073,661 $461,603,985 $71,321,882
2021 $160,212,939 $145,935,349 $484,986,875 $14,277,590
2020 $138,561,860 $118,853,332 $457,405,915 $19,708,528
2019 $164,573,542 $125,872,963 $420,279,849 $38,700,579
2018 $147,245,398 $111,707,959 $360,392,432 $35,537,439
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