International Union INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 2

EIN: 396063261

Madison, WI

Total Revenue
$567,049
Total Expenses
$450,829
Total Assets
$402,086
Net Assets
$388,189
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1970
Legal Domicile
WI
Principal Officer
Nate Rasmussen
Phone
9202209505
Tax Period
2025-01-01 to 2025-12-31

International Union INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 2, founded in 1970, is a small nonprofit that reported $567K in total revenue in fiscal year 2025. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $116K, a strong 20% operating margin.

Mission

Promote social/economic justice through collective bargaining, meetings, education, communication, organizing, community action, administration, maintenance of property/assets, delivery of benefits to represented mbrs, fraternal & social activities & activities which further common interests of the mbrship.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $562,509
Investment Income $5,469
Other Revenue $-929
TOTAL REVENUE $567,049

Expense Breakdown

Grants Paid $0
Salaries & Benefits $127,891
Fundraising Expenses $0
Program Expenses $0
Other Expenses $322,938
TOTAL EXPENSES $450,829

Year-over-Year Comparison

2025 2024 Change
Revenue $567,049 $460,778 +0.2%
Expenses $450,829 $344,730 +0.3%
Net Income $116,220 $116,048 +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
27
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
8
$79,461
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Nathan C Rasmussen President/Bus Mgr 15.4
Officer
$21,590 $0 $21,590
Brandon J Cosgrove Vice President 10.8
Officer
$15,075 $0 $15,075
Andrew R Acker Treasurer 8.4
Officer
$14,053 $0 $14,053
Axel Andersen Financial Secretary 3
Officer
$10,859 $0 $10,859
Peter J Annen Recording Secretary 0.8
Officer
$7,537 $0 $7,537
Ryan P Reuter Executive board 0.9
Officer
$3,449 $0 $3,449
David A Edgren Executive Board 0.5
Officer
$3,449 $0 $3,449
Brian K Larsen Executive Board 0
Officer
$3,449 $0 $3,449
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 $567,049 $450,829 $402,086 $116,220
2024 $460,778 $344,730 $281,158 $116,048
2023 $310,601 $399,637 $164,755 $-89,036
2022 $302,998 $323,630 $253,884 $-20,632
2021 $282,066 $259,795 $275,293 $22,271
2020 $280,955 $232,100 $251,897 $48,855
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