BOARD OF TRUSTEES TOLEDO ELECTRICAL WELFARE FUND

EIN: 344441661

ROSSFORD, OH

Total Revenue
$50,027,938
Total Expenses
$44,159,208
Total Assets
$95,088,652
Net Assets
$89,879,930
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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
OH
Principal Officer
CURTIS R DONLEY
Phone
4196664450
Tax Period
2023-01-01 to 2023-12-31

BOARD OF TRUSTEES TOLEDO ELECTRICAL WELFARE FUND, founded in 1953, is a mid-sized nonprofit that reported $50.0M in total revenue in fiscal year 2023. Expenses of $44.2M left a modest 12% surplus.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ALL ELIGIBLE MEMBERS AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

THE TOLEDO ELECTRICAL WELFARE FUND PROVIDES HEALTH AND WELFARE BENEFITS FOR ALL ELIGIBLE MEMBERS AND THEIR DEPENDENTS.

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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 $47,733,979
Investment Income $2,254,607
Other Revenue $39,352
TOTAL REVENUE $50,027,938

Expense Breakdown

Grants Paid $0
Salaries & Benefits $769,161
Fundraising Expenses $0
Other Expenses $721,216
TOTAL EXPENSES $44,159,208

Year-over-Year Comparison

2023 2022 Change
Revenue $50,027,938 $50,722,477 0.0%
Expenses $44,159,208 $44,802,783 0.0%
Net Income $5,868,730 $5,919,694 0.0%
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
N/A
Employees
584
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
$186,517
Total Directors
8
$313,355
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TODD T MICHAELSEN MGMT TRUSTEE 1.00
Director
$0 $0 $0
ROY B GROSSWILER LABOR TRUSTEE 1.00
Director
$0 $16,264 $184,292
THOMAS ENRIGHT LABOR TRUSTEE 1.00
Director
$0 $9,580 $120,461
RANDY BRYAN LABOR TRUSTEE 1.00
Director
$0 $0 $0
CHAD TURNER MGMT TRUSTEE 1.00
Director
$0 $0 $0
SEAN MCCARTHY MGMT TRUSTEE 1.00
Director
$0 $0 $0
SHAUN ENRIGHT LABOR TRUSTEE 1.00
Director
$0 $2,907 $8,602
ERICK SCHMIDT MGMT TRUSTEE 1.00
Director
$0 $0 $0
CURTIS DONLEY ADMINISTRATIVE MANAGER 11.00
Officer
$0 $41,424 $186,517
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 No data No data No data No data
2023 $50,027,938 $44,159,208 $95,088,652 $5,868,730
2022 $50,722,477 $44,802,783 $85,583,175 $5,919,694
2021 $43,224,604 $38,842,240 $83,978,867 $4,382,364
2020 $48,241,231 $46,557,570 $82,166,758 $1,683,661
2019 $50,754,951 $38,442,923 $78,303,907 $12,312,028
2018 $43,364,615 $34,032,530 $62,948,233 $9,332,085
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