H&gl Set Fund
- Assets
- $40.1m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 21
- Location
- Newark, NJ
- Founding
- 06/1973
- Data as of
- 03/2023
- EIN
- 22-6171671
Organization Overview
H&gl Set Fund is located in Newark, NJ. The organization was established in 1973. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 03/2023, H&gl Set Fund employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. H&gl Set 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 03/2023, H&gl Set Fund generated $7.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $6.0m during the year ending 03/2023. While expenses have increased by 2.1% per year over the past 8 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 DEFRAY THE COSTS APPERTAINING TO VOCATIONAL AND ADVANCEMENT TRAINING, GENERAL AND SPECIFIC EDUCATION, IMPROVING AND INSURING SAFETY HABITS AND CONDITIONS, AND TO DEVISE AND IMPLEMENT SUCH PROCEDURES AND PROGRAMS NECESSARY OR FAVORABLE TO FULFILL THE FOREGOING OBJECTIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES JOURNEYMAN TRAINING AND APPRENTICE TRAINING CLASSES FOR THE PURPOSE OF VOCATIONAL AND ADVANCEMENT TRAINING, GENERAL AND SPECIFIC EDUCATION, AND IMPROVING SAFETY HABITS AND CONDITIONS ON BEHALF OF THE 7,170 PARTICIPANTS AS OF MARCH 31,2023 AND ALSO TO PARTICIPANTS OF ANOTHER TRAINING FUND. THE PLAN IS REIMBURSED BY THE OTHER TRAINING FUND FOR THE COSTS OF THE CLASSES PROVIDED. THE PROGRAM PROVIDES CLASSROOM INSTRUCTION IN ALL ASPECTS OF HEAVY AND HIGHWAY CONSTRUCTION. TRAINING COURSES ARE OFFERED ON A WIDE RANGE OF TOPICS AND INCLUDE SAFETY, ENVIRONMENTAL, HAZARDOUS WASTE WORKER, AND CONSTRUCTION SKILLS TRAINING AND PROVIDES TRAINING TO PREPARE WORKERS FOR PREVENTION AND RESPONSE TO FUTURE TERRORIST INCIDENTS AND RESPONSE TO NATURAL DISASTERS.
THE PLAN MAINTAINS A SCHOLARSHIP PROGRAM, AWARDING FOUR SCHOLARSHIPS PER YEAR TO CHILDREN OF PARTICIPANTS FOR UTILIZATION TOWARDS TUITION FEES AND OTHER RELATED COURSE EXPENSES. THE PROGRAM PROVIDES $5,000 ANNUALLY FOR FOUR YEARS TO THOSE SELECTED BY THE SCHOLARSHIP SELECTION COMMITTEE.THE BOARD OF TRUSTEES AGREED ON OCTOBER 26,2015 TO INCREASE THE YEARLY SCHOLARSHIP AWARD TO $5,000 ANNUALLY WITH A 4 YEAR MAXIMUM OF $20,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beverly Ceaser General Manager | Officer | 3 | $0 |
Joseph Scerbo Jr Executive Direc | Officer | 40 | $178,408 |
George Samuelsen Executive Direc | Officer | 40 | $164,365 |
Russell Bley Asst. Gen. Mgr. | Officer | 3 | $0 |
John J Bohme Instructor | 44 | $130,929 | |
Michael Grisko Instructor | 44 | $130,526 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Willard Dunham Construction Company Building Contractor | 3/30/15 | $4,372,093 |
Waga Enterprises-architects Llc Bulding Architects | 3/30/15 | $166,020 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $80,000 |
| 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 | $80,000 |
| Total Program Service Revenue | $7,545,627 |
| Investment income | $634,420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$576,445 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,683,602 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $77,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $510,429 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $498,170 |
| Other salaries and wages | $1,258,132 |
| Pension plan accruals and contributions | $536,178 |
| Other employee benefits | $279,725 |
| Payroll taxes | $148,994 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,568 |
| Fees for services: Accounting | $64,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,711 |
| Fees for services: Other | $8,782 |
| Advertising and promotion | $0 |
| Office expenses | $355,230 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $210,490 |
| Travel | $220,001 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,641 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $452,344 |
| Insurance | $77,680 |
| All other expenses | $177,895 |
| Total functional expenses | $6,020,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,200 |
| Savings and temporary cash investments | $6,197,118 |
| Pledges and grants receivable | $80,000 |
| Accounts receivable, net | $913,407 |
| 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 | $86,321 |
| Net Land, buildings, and equipment | $8,904,019 |
| Investments—publicly traded securities | $23,557,329 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $348,701 |
| Total assets | $40,088,095 |
| Accounts payable and accrued expenses | $403,455 |
| 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 | $403,455 |
| 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 | $39,684,640 |
| Total liabilities and net assets/fund balances | $40,088,095 |