Iron Workers Local 40 & 361 Apprenticeship & Training Fund
- Assets
- $15.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 17
- Location
- Astoria, NY
- Founding
- 02/1986
- Data as of
- 12/2021
- EIN
- 13-2571023
Organization Overview
Iron Workers Local 40 & 361 Apprenticeship & Training Fund is located in Astoria, NY. The organization was established in 1986. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 12/2021, Iron Workers Local 40 & 361 Apprenticeship & Training Fund employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iron Workers Local 40 & 361 Apprenticeship & Training Fund 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 12/2021, Iron Workers Local 40 & 361 Apprenticeship & Training Fund generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 7 years. 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
TRADE SCHOOL TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE ENTITY IS TO INSTRUCT & TRAIN APPRENTICES TO IMPROVE & DEVELOP THEIR SKILLS REQUIRED TO BECOME JOURNEYMEN. THE PROGRAM INCLUDES INSTRUCTORS, RENTAL OF CLASSROOMS & PROVIDES ALL NECESSARY MATERIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Brady Fund Administrator | Officer | 45 | $250,870 |
Eric Chan Office Manager | 45 | $110,902 | |
Anthony Deblasie Union Trustee/assistant Co | Trustee | 20 | $109,666 |
A Alan Seidman Employer Trustee | Trustee | 0.5 | $0 |
Christopher Walsh Union Trustee | Trustee | 0.5 | $0 |
Daniel Doyle Union Trustee | Trustee | 0.5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,928,471 |
| Investment income | $10,313 |
| 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 | $1,938,784 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $987,780 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $383,262 |
| Payroll taxes | $86,083 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,324 |
| Fees for services: Accounting | $40,900 |
| 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 | $20,698 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,957 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,601 |
| Insurance | $49,505 |
| All other expenses | -$298,472 |
| Total functional expenses | $1,785,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$56,974 |
| Savings and temporary cash investments | $3,252,217 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,296 |
| 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 | $0 |
| Net Land, buildings, and equipment | $133,859 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,250,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,669,398 |
| Accounts payable and accrued expenses | $0 |
| 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 | $256,213 |
| Total liabilities | $256,213 |
| 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 | $15,413,185 |
| Total liabilities and net assets/fund balances | $15,669,398 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Atlantic States Carpenters Training Fund Millbury, MA | $72,466,434 | $22,130,164 |
Building Service Thomas Shortman Training Scholarship And New York, NY | $24,265,152 | $18,661,986 |
New York District Council Crpntrs Apprntcshp Jrnymn Retraing Educa New York, NY | $32,423,989 | $13,554,381 |
Groundtruth Project Inc Boston, MA | $12,977,835 | $12,726,930 |
Northeast Carpenters Apprenticeship Fund Edison, NJ | $19,860,788 | $10,381,249 |
Hawthorne Valley Association Inc Ghent, NY | $11,965,949 | $10,914,219 |
Liuna Training And Education Fund Pomfret Center, CT | $19,387,955 | $9,381,853 |
Operating Engineers Local 825 Springfield, NJ | $22,861,458 | $9,545,959 |
Operating Engineers Local 825 Sub Fund Springfield, NJ | $82,702,164 | $12,313,269 |
Joint Apprenticeship And Training Trust Fund Local 103 Ibew Boston, MA | $13,179,581 | $8,861,151 |
Nueva Esperanza Philadelphia, PA | $22,032,264 | $12,218,705 |
National Automatic Sprinkler Industry Apprentice And Training New Milford, CT | $8,318,559 | $7,669,959 |