International Union Of Operating Engineers
- Assets
- $137.2m
- Revenue
- $83.9m
- Investments
- $29.7m
- Employees
- 18
- Location
- Medway, MA
- Founding
- 01/1959
- Data as of
- 12/2023
- EIN
- 04-6040880
Organization Overview
International Union Of Operating Engineers is located in Medway, MA. The organization was established in 1959. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, International Union Of Operating Engineers employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Union Of Operating Engineers is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, International Union Of Operating Engineers generated $83.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $75.9m during the year ending 12/2023. While expenses have increased by 6.2% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul C Diminico Union Trustee | Trustee | 1 | $0 |
David Shea Union Trustee | Trustee | 1 | $0 |
Michael Bowes Union Trustee - Eff 09/23 | Trustee | 1 | $0 |
William D Mclaughlin Union Trustee - Thru 09/23 | Trustee | 1 | $0 |
Angelo Colosante Employer Trustee | Trustee | 1 | $0 |
David Marr Jr Employer Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Of Mass Medical | 12/30/23 | $1,966,772 |
Vitech Systems Group Inc Information Technology | 12/30/23 | $363,216 |
Law Offices Of Kathryn S Shea Legal | 12/30/23 | $247,546 |
Willis Towers Watson Northeas Consulting | 12/30/23 | $165,000 |
O'donoghue O'donoghue Legal | 12/30/23 | $142,275 |
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 | $81,607,304 |
| Investment income | $2,449,712 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$147,379 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,936,668 |
| 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 | $73,825,500 |
| Compensation of current officers, directors, key employees. | $317,137 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,238,263 |
| Pension plan accruals and contributions | $511,245 |
| Other employee benefits | $250,735 |
| Payroll taxes | $139,877 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $147,690 |
| Fees for services: Accounting | $57,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $119,828 |
| Fees for services: Other | $248,500 |
| Advertising and promotion | $0 |
| Office expenses | $188,267 |
| Information technology | $196,301 |
| Royalties | $0 |
| Occupancy | $34,396 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,669 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,097 |
| Insurance | $52,472 |
| All other expenses | $0 |
| Total functional expenses | $75,908,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,544,097 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,948,679 |
| 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 | $313,857 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $80,653,394 |
| Investments—other securities | $29,729,204 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $137,189,231 |
| Accounts payable and accrued expenses | $560,875 |
| 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 | $6,607,150 |
| Total liabilities | $7,168,025 |
| 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 | $130,021,206 |
| Total liabilities and net assets/fund balances | $137,189,231 |