Is International Brotherhood Of Electrical Workers Legit?

The International Brotherhood Of Electrical Workers (IBEW) in Schenectady, NY, demonstrates consistent financial growth and strong asset accumulation over the past decade. With latest reported revenue of $18,449,059 and assets reaching $49,754,762, the organization appears financially robust. The filings consistently show revenues exceeding expenses, leading to a healthy increase in net assets. For instance, in 202406, revenue was $5,698,417 against expenses of $3,735,136, indicating efficient management of resources. The organization's spending efficiency is notable, particularly given the consistent reporting of 0% officer compensation across all available filings. This suggests that a significant portion of funds is directed towards the organization's operational activities rather than executive salaries. While a detailed breakdown of program, administrative, and fundraising expenses isn't explicitly provided in the summary data, the overall financial health and the absence of officer compensation are positive indicators. The consistent growth in assets from $16,701,262 in 201506 to $49,754,762 currently further underscores its financial stability and capacity to fulfill its mission. Transparency appears to be a strong suit, with 13 filings available, indicating regular reporting to the IRS. The consistent growth in assets and the low liability figures across all periods (e.g., $150,211 in 202406 against $43,536,292 in assets) suggest prudent financial management and a low risk profile. The lack of reported officer compensation is a significant positive for transparency and public trust.