Overview
What is Annual Benefit Fund Local 702?
Annual Benefit Fund Local 702 is a nonprofit organization affiliated with the International Brotherhood of Electrical Workers, specifically based in West Frankfort, Illinois. Their primary mission is to administer a Vacation Benefit Plan, providing vacation income to participating members. The amount of this income is determined by each member's contributions, as established by the collective bargaining agreements. This plan offers a financial cushion for vacation time, ensuring financial security for its members.
Is Annual Benefit Fund Local 702 legitimate?
Annual Benefit Fund Local 702 is a legitimate nonprofit organization registered as a 501(c)(5) entity. Annual Benefit Fund Local 702 submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Annual Benefit Fund Local 702?
Annual Benefit Fund Local 702, as part of the International Brotherhood of Electrical Workers, provides a Vacation Benefit Plan. This plan offers vacation income to its participants, the amount of which is determined by their contributions, in accordance with the contribution rates established through collective bargaining agreements. The primary mission of this fund is to ensure that eligible individuals receive financial support during their vacation periods. It should be noted that the fund's activities are solely focused on the administration of this vacation benefit plan.
Who is the CEO of Annual Benefit Fund Local 702?
Michael Lustig is the Trustee of Annual Benefit Fund Local 702.
What is the revenue of Annual Benefit Fund Local 702?
Annual Benefit Fund Local 702's revenue in 2022 was $6,060,759.
Who are the executives of Annual Benefit Fund Local 702 and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Annual Benefit Fund Local 702?
Annual Benefit Fund Local 702's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Annual Benefit Fund Local 702
Annual Benefit Fund Local 702, an affiliation of the International Brotherhood of Electrical Workers, is committed to providing vacation benefits to its participants. The organization's mission is to distribute vacation income to its members, with the amount of this income determined by the individual's contributions. These contributions are regulated by the contribution rates established in collective bargaining agreements.
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Impact
October, 2024
Annual Benefit Fund Local 702 significantly enhances the financial stability of its participants by offering a Vacation Benefit Plan designed to provide income during vacation periods. This plan ensures that workers can take necessary time off without experiencing financial strain, as the vacation income is directly linked to their contributions in accordance with collective bargaining agreements. By facilitating this benefit, the fund supports the overall well-being of members of the International Brotherhood of Electrical Workers, helping to create a more balanced work-life dynamic. Located in West Frankfort, IL, Annual Benefit Fund Local 702 plays a vital role in promoting employment security and improving quality of life for its participants.
This information is meant to be a general summary of Annual Benefit Fund Local 702. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5,716
- Program Service Revenue: $6,055,043
- Gross Receipts: $6,060,759
Assets and Liabilities:
- Total Assets: $2,782,739
- Total Liabilities: $0
- Net Assets: $2,782,739
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPANT CONTRIBUTI
Revenue
$6,055,043
Organization Details
Founding Year
1973
Phone
(618) 932-2102Principal Officer
Michael Lustig
Main Address
106 N MONROE, WEST FRANKFORT, IL, 62896
NTEE Category
Code: J40 - Employment
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