INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 347

EIN: 420328980

ANKENY, IA

Total Revenue
$5,521,595
Total Expenses
$2,747,531
Total Assets
$14,416,118
Net Assets
$14,284,571
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1952
Legal Domicile
IA
Phone
5152431924
Tax Period
2024-01-01 to 2024-12-31

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 347, founded in 1952, is a community nonprofit that reported $5.5M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.8M, a strong 50% operating margin.

Mission

To organize all electricians in the jurisdiction of IBEW Local 347 so that all workers within the industry enjoy the moral, economic, political, and social benefits of IBEW membership; thus assuring each worker the opportunity to work, live, participate, and retire with dignity and respect.

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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 $4,837,210
Investment Income $589,680
Other Revenue $94,705
TOTAL REVENUE $5,521,595

Expense Breakdown

Grants Paid $160,000
Salaries & Benefits $1,281,897
Fundraising Expenses $0
Other Expenses $1,305,634
TOTAL EXPENSES $2,747,531

Year-over-Year Comparison

2024 2023 Change
Revenue $5,521,595 $4,861,566 +0.1%
Expenses $2,747,531 $2,472,199 +0.1%
Net Income $2,774,064 $2,389,367 +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

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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
50
Volunteers
6

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
5
$194,655
Total Directors
10
$155,988
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID REID Business Mgr 50.00
Officer
$127,689 $45,563 $173,252
BEN DUKE EXECUTIVE BOARD 1.00
Director
$86,202 $32,980 $119,182
RICHARD CHUMBLEY President 1.00
Officer Director
$11,405 $4,453 $15,858
MIKE JONES EXECUTIVE BOARD 1.00
Director
$4,886 $1,978 $6,864
SHANNAN GARZA Vice President 1.00
Officer Director
$4,211 $1,095 $5,306
BRONSON WEESE EXECUTIVE BOARD 1.00
Director
$2,782 $1,121 $3,903
JOHN STAHOWICK EXECUTIVE BOARD 1.00
Director
$1,760 $703 $2,463
NATE FRIESEN EXECUTIVE BOARD 1.00
Director
$1,556 $617 $2,173
MATT DEANGELO Secretary 1.00
Officer Director
$169 $70 $239
STEPHEN COXE EXECUTIVE BOARD 1.00
Director
$0 $0 $0
KYLE OVERTON Treasurer 1.00
Officer 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 No data No data No data No data
2024 $5,521,595 $2,747,531 $14,416,118 $2,774,064
2023 $4,861,566 $2,472,199 $11,627,387 $2,389,367
2022 $4,290,319 $2,619,996 $9,238,271 $1,670,323
2021 $3,863,701 $6,800,023 $7,557,228 $-2,936,322
2020 $3,790,862 $2,760,600 $10,480,620 $1,030,262
2019 $3,038,417 $3,119,176 $9,439,302 $-80,759
2018 $3,499,391 $2,711,880 $9,520,965 $787,511
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