Iron Workers Locals No 15 & 424
- Assets
- $404.3k
- Revenue
- $820.0k
- Investments
- $0.0
- Employees
- 47
- Location
- Cromwell, CT
- Founding
- 07/2016
- Data as of
- 06/2022
- EIN
- 06-6087354
Organization Overview
Iron Workers Locals No 15 & 424 is located in Cromwell, CT. The organization was established in 2016. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 06/2022, Iron Workers Locals No 15 & 424 employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iron Workers Locals No 15 & 424 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Iron Workers Locals No 15 & 424 generated $820.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $1.0m during the year ending 06/2022. 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
THE FUND WAS ESTABLISHED FOR THE PURPOSE OF FINANCING TRAINING & RELATED PROGRAMS FOR ELIGIBLE TRAINEES, APPRENTICE IRON WORKERS AND JOURNEYMEN IRON WORKERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND WAS ESTABLISHED FOR THE PURPOSE OF FINANCING TRAINING & RELATED PROGRAMS FOR ELIGIBLE TRAINEES, APPRENTICE IRON WORKERS AND JOURNEYMEN IRON WORKERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael O'sullivan Trustee | Trustee | 2 | $0 |
Lowell Kahn Trustee | Trustee | 2 | $0 |
Rick Fitzgerald Trustee | Trustee | 2 | $0 |
David Hunt Trustee | Trustee | 2 | $0 |
Mark Buono Trustee | Trustee | 2 | $49,658 |
Trevor Danburg Trustee | Trustee | 2 | $0 |
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 | $137,334 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $137,334 |
| Total Program Service Revenue | $682,633 |
| Investment income | $2 |
| 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 | $819,969 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $322,004 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $214,670 |
| Pension plan accruals and contributions | $30,734 |
| Other employee benefits | $18,106 |
| Payroll taxes | $40,245 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,159 |
| Fees for services: Accounting | $11,829 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $53 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $98,450 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,128 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,664 |
| Insurance | $8,841 |
| All other expenses | $0 |
| Total functional expenses | $1,021,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,364 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $102,484 |
| 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 | $4,464 |
| Net Land, buildings, and equipment | $262,015 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $404,327 |
| Accounts payable and accrued expenses | $17,914 |
| 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 | $17,914 |
| 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 | $386,413 |
| Total liabilities and net assets/fund balances | $404,327 |