IBEW 292 HEALTH CARE PLAN

EIN: 411384754

BROOKLYN PARK, MN

Total Revenue
$86,209,442
Total Expenses
$76,874,338
Total Assets
$215,812,014
Net Assets
$215,599,506
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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
1980
Legal Domicile
MN
Principal Officer
JENNIFER MUDGE
Phone
7634938830
Tax Period
2024-05-01 to 2025-04-30

IBEW 292 HEALTH CARE PLAN, founded in 1980, is a mid-sized nonprofit that reported $86.2M in total revenue in fiscal year 2024. Expenses of $76.9M left a modest 11% surplus.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $80,045,214
Investment Income $6,108,874
Other Revenue $55,354
TOTAL REVENUE $86,209,442

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,016,470
Fundraising Expenses $0
Other Expenses $1,356,066
TOTAL EXPENSES $76,874,338

Year-over-Year Comparison

2024 2023 Change
Revenue $86,209,442 $80,190,508 +0.1%
Expenses $76,874,338 $69,027,783 +0.1%
Net Income $9,335,104 $11,162,725 -0.2%
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
6
Independent Members
N/A
Employees
167
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
2
$204,264
Total Directors
8
$1,174,873
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFFREY HEIMERL LABOR TRUSTEE 0.50
Director
$0 $68,203 $258,865
DAN FERGUSON LABOR TRUSTEE - CHAIRMAN 2.00
Officer Director
$0 $58,426 $204,264
JENNIFER MUDGE LABOR TRUSTEE 2.00
Director
$0 $61,558 $218,406
JOHN KRIPOTOS LABOR TRUSTEE - ALTERNATE 2.00
Director
$0 $58,426 $204,264
KRISTIN CAUSBY MANAGEMENT TRUSTEE 1.00
Director
$0 $52,758 $289,074
JERRY HEIN MANAGEMENT TRUSTEE - SECRE 0.50
Officer Director
$0 $0 $0
LAURA KAROW MANAGEMENT TRUSTEE 1.00
Director
$0 $0 $0
RYAN MORRIS MANAGEMENT TRUSTEE - ALTERNATE 1.00
Director
$0 $0 $0
CARLA GRUETZMACHER ADMINISTRATIVE MANAGER 36.00
Highest
$172,975 $43,503 $216,478
ANN KELLEN FINANCE MANAGER 20.00
Highest
$143,707 $40,260 $183,967
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 $86,209,442 $76,874,338 $215,812,014 $9,335,104
2024 $80,190,508 $69,027,783 $200,546,784 $11,162,725
2023 $72,822,692 $64,468,222 $189,190,377 $8,354,470
2022 $76,280,696 $63,414,251 $177,979,838 $12,866,445
2022 $74,589,910 $62,241,102 $175,891,632 $12,348,808
2021 $72,168,030 $57,533,853 $175,025,978 $14,634,177
2020 $78,358,570 $63,330,456 $154,174,573 $15,028,114
2019 $77,143,242 $71,711,147 $130,398,771 $5,432,095
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