International Brotherhood Of Teamsters

Organization Overview

International Brotherhood Of Teamsters, operating under the name Local Union No 340, is located in South Portland, ME. The organization was established in 1941. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2021, Local Union No 340 employed 32 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Local Union No 340 is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.

For the year ending 12/2021, Local Union No 340 generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

LABOR UNION

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOCAL 340 REPRESENTS APPROXIMATELY 4,200 WORKERS IN MAINE IN NEGOTIATING WAGES, BENEFITS, AND WORKING CONDITIONS THROUGH COLLECTIVE BARGAINING AGREEMENTS.


THE LOCAL'S ONLY PROGRAM IS LISTED IN 4A.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$2,620,557
Investment income $498
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $14,738
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,683,254

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