Ironworkers Union Local 7
- Assets
- $22.2m
- Revenue
- $15.7m
- Investments
- $0.0
- Employees
- 38
- Location
- South Boston, MA
- Founding
- 11/1944
- Data as of
- 06/2022
- EIN
- 04-1473615
Organization Overview
Ironworkers Union Local 7 is located in South Boston, MA. The organization was established in 1944. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 06/2022, Ironworkers Union Local 7 employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ironworkers Union Local 7 is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2022, Ironworkers Union Local 7 generated $15.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $13.4m during the year ending 06/2022. While expenses have increased by 4.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LABOR UNION ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
LABOR UNION ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Mapp Trustee | OfficerTrustee | 1 | $2,444 |
Joshua Riley Trustee | OfficerTrustee | 1 | $2,446 |
Caron Reese Trustee | OfficerTrustee | 1 | $858 |
Bridget Nee-Walsh Recording Secretary | Officer | 2 | $5,471 |
Charles Neulist III Business Agent | Officer | 40 | $73,849 |
Daniel Morganelli Business Agent | Officer | 40 | $161,715 |
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 | $14,929,550 |
| Investment income | $131,974 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,665,064 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $177,395 |
| Compensation of current officers, directors, key employees. | $1,835,796 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $149,355 |
| Pension plan accruals and contributions | $762,919 |
| Other employee benefits | $643,212 |
| Payroll taxes | $175,787 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,210 |
| Fees for services: Accounting | $48,080 |
| Fees for services: Lobbying | $80,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,839 |
| Fees for services: Other | $0 |
| Advertising and promotion | $202,315 |
| Office expenses | $324,300 |
| Information technology | $4,443 |
| Royalties | $0 |
| Occupancy | $92,424 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,731 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,708 |
| Insurance | $329,309 |
| All other expenses | $409,871 |
| Total functional expenses | $13,395,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,952,112 |
| Savings and temporary cash investments | $16,539,041 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $955,326 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $115,317 |
| Net Land, buildings, and equipment | $110,900 |
| Investments—publicly traded securities | $2,486,412 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,159,108 |
| Accounts payable and accrued expenses | $889,006 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $889,006 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $21,270,102 |
| Total liabilities and net assets/fund balances | $22,159,108 |