IBEX SOCIAL AND WELFARE ASSOCIATION

EIN: 530185335

LANHAM, MD

Total Revenue
$527,005
Total Expenses
$1,342,516
Total Assets
$8,680,707
Net Assets
$8,680,707
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1947
Legal Domicile
MD
Principal Officer
THOMAS MYERS
Phone
3014592900
Tax Period
2024-07-01 to 2025-06-30

IBEX SOCIAL AND WELFARE ASSOCIATION, founded in 1947, is a small nonprofit that reported $527K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $1.3M exceeded revenue, resulting in a 155% operating deficit.

Mission

THE IBEX SOCIAL AND WELFARE ASSOCIATION IS A DIVISION OF IBEW LOCAL UNION NO. 26 DESIGNED TO PROMOTE MEMBERSHIP SATISFACTION AND PROVIDE BENEFITS FOR THE MEMBERSHIP OF THE LOCAL UNION.

Program Service Accomplishments

Program 1
Expenses: $333,605

SPONSOR ANNUAL PICNICS FOR THE MEMBERSHIP OF IBEW LOCAL UNION NO. 26

Program 2
Expenses: $174,011

SPONSOR OF GOLF TOURNAMENT FOR THE MEMBERSHIP OF IBEW LOCAL NO. 26

Program 3
Expenses: $124,547

SPONSOR CHRISTMAS PARTIES FOR THE MEMBERSHIP OF IBEW LOCAL UNION NO. 26

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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 $295,098
Investment Income $0
Other Revenue $231,907
TOTAL REVENUE $527,005

Expense Breakdown

Grants Paid $32,500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $786,101
Other Expenses $1,310,016
TOTAL EXPENSES $1,342,516

Year-over-Year Comparison

2024 2023 Change
Revenue $527,005 $451,678 +0.2%
Expenses $1,342,516 $1,421,704 -0.1%
Net Income $-815,511 $-970,026 -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
12
Independent Members
N/A
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
6
$1,451,743
Total Directors
12
$2,805,953
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH DABBS BUSINESS MANAGER 0.0
Officer Director
$0 $47,167 $275,619
CHRISTOPHER CASH FINANCIAL SECRETARY 0.0
Officer Director
$0 $46,404 $249,407
THOMAS MYERS PRESIDENT 0.0
Officer Director
$0 $46,326 $246,727
JOHN COLLINS EXECUTIVE BOARD 0.0
Director
$0 $46,061 $237,626
WILLIAM NG TREASURER 0.0
Officer Director
$0 $45,880 $231,415
RICHARD MURPHY RECORDING SECRETARY 0.0
Officer Director
$0 $45,861 $230,758
EPAMINONDAS MOUHANIS EXECUTIVE BOARD 0.0
Director
$0 $45,777 $227,869
CHRISTOPHER BROOKS EXECUTIVE BOARD 0.0
Director
$0 $45,648 $223,456
LORNE SEAY EXECUTIVE BOARD 0.0
Director
$0 $45,647 $223,432
THOMAS CLARK EXECUTIVE BOARD 0.0
Director
$0 $45,617 $222,375
GARY HALL EXECUTIVE BOARD 0.0
Director
$0 $45,532 $219,452
RICHARD WILKINSON VICE PRESIDENT 0.0
Officer Director
$0 $45,484 $217,817
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 $527,005 $1,342,516 $8,680,707 $-815,511
2024 $451,678 $1,421,704 $9,022,825 $-970,026
2023 $767,224 $1,315,841 $9,550,649 $-548,617
2022 $415,785 $1,064,377 $10,041,991 $-648,592
2021 $259,268 $650,918 $10,164,349 $-391,650
2020 $266,594 $961,337 $10,573,530 $-694,743
2019 $360,527 $1,084,493 $11,064,162 $-723,966
2018 $639,927 $2,125,173 $11,677,203 $-1,485,246
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