IBEW LOCAL 481 SUPPLEMENTAL UNEMPLOYMENT BENEFIT PLAN

EIN: 474203459 Mutual Benefit

INDIANAPOLIS, IN

Total Revenue
$2,309,817
Total Expenses
$1,338,668
Total Assets
$9,357,577
Net Assets
$9,154,010
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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
2015
Legal Domicile
IN
Principal Officer
DAVID RAY
Phone
3179234577
Tax Period
2024-01-01 to 2024-12-31

IBEW LOCAL 481 SUPPLEMENTAL UNEMPLOYMENT BENEFIT PLAN, founded in 2015, is a community nonprofit in the Mutual Benefit sector that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $971K, a strong 42% operating margin.

Mission

PROVIDE SUPPLEMENTAL UNEMPLOYMENT 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 $1,961,777
Investment Income $345,598
Other Revenue $2,442
TOTAL REVENUE $2,309,817

Expense Breakdown

Grants Paid $0
Salaries & Benefits $148,455
Fundraising Expenses $0
Other Expenses $669,381
TOTAL EXPENSES $1,338,668

Year-over-Year Comparison

2024 2023 Change
Revenue $2,309,817 $1,817,232 +0.3%
Expenses $1,338,668 $1,055,465 +0.3%
Net Income $971,149 $761,767 +0.3%
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
3
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
0
$0
Total Directors
10
$400,823
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFF WHEELER TRUSTEE 1.00
Director
$0 $72,436 $196,052
ADAM RUDE TRUSTEE 1.00
Director
$0 $0 $0
BRIAN MILLER TRUSTEE 1.00
Director
$0 $0 $0
ANDREW WILLIAMS TRUSTEE - PAST 1.00
Director
$0 $0 $0
LARRY VAN TRIES ALTERNATE TRUSTEE 1.00
Director
$0 $0 $0
RYAN BALLOU TRUSTEE 1.00
Director
$0 $2,963 $8,034
JASON BURCHAM ALTERNATE TRUSTEE 1.00
Director
$0 $70,398 $187,698
CHAD ISON TRUSTEE 1.00
Director
$0 $2,874 $9,039
MIKE ESTEP TRUSTEE - NEW/PAST 1.00
Director
$0 $0 $0
KEVIN SCHRADER TRUSTEE - NEW 1.00
Director
$0 $0 $0
DAVID RAY PLAN ADMINISTRATOR 4.00
Highest
$0 $79,038 $234,438
WHITNEY KING ASSISTANT PLAN ADMINISTRAT 16.00
Highest
$0 $76,701 $206,920
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 $2,309,817 $1,338,668 $9,357,577 $971,149
2023 $1,817,232 $1,055,465 $8,607,395 $761,767
2022 $1,246,191 $1,112,513 $7,523,550 $133,678
2021 $1,151,490 $883,517 $7,875,616 $267,973
2020 $1,095,060 $1,544,174 $7,653,741 $-449,114
2019 $1,289,789 $935,072 $7,968,646 $354,717
2018 $2,668,687 $699,961 $7,352,007 $1,968,726
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