Walter M Matthews & John M Sheehan Metal Lathers Loc 46 Schlrshp Fund
- Assets
- $1.9m
- Revenue
- $362.1k
- Investments
- $1.1m
- Employees
- 0
- Location
- Woodside, NY
- Founding
- 12/1967
- Data as of
- 12/2023
- EIN
- 13-6271917
Organization Overview
Walter M Matthews & John M Sheehan Metal Lathers Loc 46 Schlrshp Fund is located in Woodside, NY. The organization was established in 1967. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walter M Matthews & John M Sheehan Metal Lathers Loc 46 Schlrshp 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 12/2023, Walter M Matthews & John M Sheehan Metal Lathers Loc 46 Schlrshp Fund generated $362.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $398.0k during the year ending 12/2023. 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
PROVIDE SCHOLARSHIPS FOR DEPENDENTS OF METAL LATHERS LOCAL 46 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS WERE MADE AVAILABLE TO DEPENDENTS OF PARTICIPANTS IN ORDER TO ENABLE THEM TO AFFORD HIGHER EDUCATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Anderson Trustee | Trustee | 1 | $0 |
John Coffey Trustee | Trustee | 1 | $0 |
John Clausman Trustee | Trustee | 1 | $0 |
George Fernandez Trustee | Trustee | 1 | $0 |
Michael Salgo Trustee | Trustee | 1 | $0 |
Kevin O'brien Trustee | Trustee | 1 | $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 | $390,621 |
| Investment income | $13,436 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$41,918 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $362,139 |
| 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 | $342,513 |
| 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 | $5,338 |
| Pension plan accruals and contributions | $947 |
| Other employee benefits | $2,717 |
| Payroll taxes | $427 |
| Fees for services: Management | $4,109 |
| Fees for services: Legal | $5,872 |
| Fees for services: Accounting | $17,847 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,511 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,506 |
| Information technology | $4,207 |
| Royalties | $0 |
| Occupancy | $852 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $265 |
| Insurance | $1,937 |
| All other expenses | $0 |
| Total functional expenses | $398,048 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,238 |
| Savings and temporary cash investments | $463,366 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,969 |
| 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 | $1,551 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,128,897 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $160,930 |
| Total assets | $1,853,951 |
| Accounts payable and accrued expenses | $9,564 |
| 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 | $9,564 |
| 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 | $1,844,387 |
| Total liabilities and net assets/fund balances | $1,853,951 |