International Union Of Operating Engineers Local 98 is located in Southwick, MA. The organization was established in 1958. 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, International Union Of Operating Engineers Local 98 employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Union Of Operating Engineers Local 98 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, International Union Of Operating Engineers Local 98 generated $14.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $14.4m during the year ending 12/2021. While expenses have increased by 3.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH CARE AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH CARE AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kara Richotte Fund Administrator | Officer | 13 | $106,367 |
Philip C Chaffee Union Trustee | Trustee | 1 | $0 |
Keith Hancock Union Trustee | Trustee | 1 | $0 |
Christopher Gagliarducci Employer Trustee | Trustee | 1 | $0 |
William D Fay Union Trustee | Trustee | 1 | $0 |
Michelle Thorne Employer Trustee | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Schultheis & Panettieri Llp Accounting/auditing | 12/30/21 | $225,035 |
The Segal Company Consultant | 12/30/21 | $119,500 |
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 | $14,450,347 |
Investment income | $409,057 |
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 | $14,859,404 |
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 | $13,768,294 |
Compensation of current officers, directors, key employees. | $181,887 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $159,020 |
Pension plan accruals and contributions | $115,967 |
Other employee benefits | $72,278 |
Payroll taxes | $32,372 |
Fees for services: Management | $0 |
Fees for services: Legal | $52,243 |
Fees for services: Accounting | $212,607 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $21,600 |
Fees for services: Other | $127,000 |
Advertising and promotion | $0 |
Office expenses | $49,502 |
Information technology | $52,010 |
Royalties | $0 |
Occupancy | $50,784 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $730 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,284 |
Insurance | $51,379 |
All other expenses | $0 |
Total functional expenses | $14,393,535 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,697,368 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,300,000 |
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 | $1,250,188 |
Net Land, buildings, and equipment | $13,522 |
Investments—publicly traded securities | $11,183,378 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $17,444,456 |
Accounts payable and accrued expenses | $291,971 |
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 | $55,000 |
Total liabilities | $346,971 |
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 | $17,097,485 |
Total liabilities and net assets/fund balances | $17,444,456 |
Organization Name | Assets | Revenue |
---|---|---|
American Federation Of State County & Municipal Employees New York, NY | $77,027,109 | $53,363,394 |
New York State Nurses Association New York, NY | $106,360,017 | $53,864,397 |
United Brotherhood Of Carpenters & Joiners Of America Boston, MA | $146,178,722 | $53,186,412 |
Cement & Concrete Workers District Council Welfare Fund Flushing, NY | $115,712,146 | $34,540,506 |
Service Employees International Union Albany, NY | $31,308,144 | $40,993,536 |
Major League Baseball Players Assn New York, NY | $280,679,317 | $145,511,307 |
United Brotherhood Of Carpenters & Joiners Of America New York, NY | $64,514,321 | $30,390,224 |
Enterprise Association Local 638 Long Island City, NY | $80,989,566 | $29,703,227 |
United University Professions Benefit Trust Fund Albany, NY | $81,922,697 | $45,334,954 |
Transport Workers Union Of America Brooklyn, NY | $13,886,848 | $35,125,762 |
International Alliance Theatrical Stage Employees New York, NY | $95,540,739 | $36,594,534 |
Hotel And Gaming Trades Council Afl-Cio New York, NY | $55,965,580 | $24,291,785 |