Health Reimbursement Account Fund of the Electrical Industry
Flushing, NY 11365 · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $62,640,229 | $66,114,510 | $122,930,960 |
| FY2023 | $52,253,670 | $55,799,223 | $126,405,241 |
| FY2022 | $47,126,968 | $49,741,827 | $129,950,794 |
| FY2021 | $42,957,769 | $47,139,374 | $132,565,653 |
| FY2020 | $41,160,613 | $43,687,341 | $136,747,258 |
| FY2019 | $32,298,501 | $33,067,068 | $139,273,986 |
| FY2018 | $29,784,711 | $26,564,342 | $140,042,553 |
| FY2017 | $27,942,062 | $26,937,740 | $136,822,184 |
| FY2016 | $31,205,182 | $26,660,854 | $134,209,944 |
| FY2015 | $27,798,352 | $25,731,048 | $130,382,724 |
| FY2014 | $27,723,819 | $26,157,044 | $129,768,451 |
| FY2013 | $24,283,727 | $23,665,996 | $128,810,324 |
| FY2012 | $25,507,209 | $23,347,128 | $128,983,177 |
| FY2011 | $24,743,442 | $22,520,879 | $126,441,104 |
Form 990 filings
The returns filed by Health Reimbursement Account Fund of the Electrical Industry (EIN 56-2489386), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $58,445,721 | 93% |
| Other revenue | $4,194,508 | 7% |
What the numbers show
- Program service revenue made up 93% of total revenue in FY2024.
- Net assets covered about 22.3 months of expenses at the end of the reporting year. That puts it in the 40th percentile among 363 Mutual & Membership Benefit organizations in NY.
- Total revenue was higher than 95.4% of 369 Mutual & Membership Benefit organizations in NY.
- Total revenue rose from $24,743,442 in FY2011 to $62,640,229 in FY2024. Revenue increased in 11 and decreased in 2 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 6 of 14 reported years (FY2019, FY2020, FY2021, FY2022, FY2023, FY2024).
- Net assets declined from $126,441,104 to $122,930,960 between FY2011 and FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
The Plan collects and invests funds received from electrical contractors for the purpose of providing benefits to members of Local 3. The Plan adopted amendments to its plan provisions in compliance with the Affordable Care Act effective January 1, 2014.
IRS status
| Ruling year | 2005 |
| Subsection | 501(c)(9) |
| Program area (NTEE) | Y43 — Mutual & Membership Benefit (in NY) |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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