Local No 840 Ibew Group Insurance Plan
Nonprofit profile at a glance
- EIN
- 331118241
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Geneva, NY, USA
- Phone
- 3157893330
- Rating confidence
- Limited
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $4,404,791
- Expenses
- $3,942,459
- Assets
- $7,337,945
- Liabilities
- $115,698
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Highest reported compensation
- MICHAEL L DAVIS (FUND ADMINISTRATOR): $106,139 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provide health and insurance benefits to members of the electrical workers industry in the local 840 jurisdiction.
What it reported doing in 2024
Provided group benefits for hospitalization, surgical, medical care, dental, vision, and health benefits for local 840 members.
Operating model
- Revenue model
- Earned-program. 97% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 90
- Accountability: 95
- Sustainability: 66
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 10.5%; rating input score 63; 63rd percentile among comparable filings
- Total-asset coverage ratio: 1.86; rating input score 59; 59th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
- Officer compensation ratio: 0.9%; rating input score 80; 80th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 8.8% per year; rating input score 100; 64th percentile among comparable filings
- Asset growth: 18.9% per year; rating input score 100; 82nd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $106K · 7 people listed
- Consistency: 11 of 11 current checks pass
- Schedules: 3 filed schedules
- Filing history: 12 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Related organizations: 3 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Review — Sustainability: Total-asset coverage ratio scored 59/100.