IBEW-NECA SOUTHWESTERN HEALTH & BE… - Form 990 Financial Data

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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

1973

Legal Domicile

Principal Officer

Josh DeSpain

Phone

8005270320

Tax Period

2024-09-01 to 2025-08-31

IBEW-NECA SOUTHWESTERN HEALTH & BENEFIT FUND, founded in 1973, is a major nonprofit that reported $123.1M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

To provide eligible electricians with health and welfare benefits.

Program Service Accomplishments

Program 1

Expenses: $110,257,331

MEDICAL BENEFITS - The objective of this activity for the current period as well as the overall long term goal is to provide medical benefits to the eligible members of the plan and their...

MEDICAL BENEFITS - The objective of this activity for the current period as well as the overall long term goal is to provide medical benefits to the eligible members of the plan and their beneficiaries

Program 2

Expenses: $15,479,201

PERSCRIPTION PLAN

Program 3

Expenses: $2,761,672

INSURANCE the overall long term is to provide Health coverage to the eligible members of the Plan and their beneficiaries

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $115,464,981

Investment Income $6,195,922

Other Revenue $1,438,910

TOTAL REVENUE $123,099,813

Expense Breakdown

Grants Paid $0

Salaries & Benefits $70,583

Fundraising Expenses $0

Program Expenses $128,498,204

Other Expenses $4,608,573

TOTAL EXPENSES $133,177,360

Year-over-Year Comparison

	2024	2023	Change
Revenue	$123,099,813	$108,226,886	+0.1%
Expenses	$133,177,360	$105,265,146	+0.3%
Net Income	$-10,077,547	$2,961,740	-4.4%

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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kit Bass	MGMT TRUSTEE	002.00	Director	$0	$0	$0
Dylan Woodard	MGMT TRUSTEE	002.00	Officer Director	$0	$0	$0
Brian McFarland	MGMT TRUSTEE	002.00	Director	$0	$0	$0
Mike Tallis	MGMT TRUSTEE	002.00	Director	$0	$0	$0
David Sanchez	MGMT TRUSTEE	002.00	Director	$0	$0	$0
MARK HUSTON	MGMT TRUSTEE	002.00	Director	$0	$0	$0
Michael Leonard	IBEW TRUSTEE	002.00	Director	$0	$0	$0
David Carranco	IBEW TRUSTEE	002.00	Director	$0	$0	$0
Joshua DeSpain	IBEW TRUSTEE	002.00	Officer Director	$0	$0	$0
Anthony Cahill	IBEW TRUSTEE	002.00	Director	$0	$0	$0
Alfonso Martinez Jr	IBEW TRUSTEE	002.00	Director	$0	$0	$0
Price Warwick III	IBEW TRUSTEE	002.00	Director	$0	$0	$0

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
2025	$123,099,813	$133,177,360	$99,635,833	$-10,077,547
2024	$108,226,886	$105,265,146	$96,474,761	$2,961,740
2023	$95,474,599	$97,850,930	$84,636,966	$-2,376,331
2022	$82,634,099	$81,804,937	$77,654,881	$829,162
2021	$85,480,690	$82,552,470	$75,158,723	$2,928,220
2020	$76,608,863	$79,891,576	$66,290,325	$-3,282,713
2019	$74,371,188	$78,533,447	$70,046,167	$-4,162,259
2018	$68,904,887	$68,540,408	$69,671,232	$364,479

IBEW-NECA SOUTHWESTERN HEALTH & BENEFIT FUND