Operating Engineers Local 17 Training Fund
- Assets
- $4.4m
- Revenue
- $1.9m
- Investments
- $215.1k
- Employees
- 9
- Location
- Lake View, NY
- Founding
- 11/1970
- Data as of
- 05/2024
- EIN
- 23-7087500
Organization Overview
Operating Engineers Local 17 Training Fund is located in Lake View, NY. The organization was established in 1970. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 05/2024, Operating Engineers Local 17 Training Fund employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Operating Engineers Local 17 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 05/2024, Operating Engineers Local 17 Training Fund generated $1.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $1.5m during the year ending 05/2024. While expenses have increased by 3.5% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE OPERATING ENGINEERS LOCAL 17 TRAINING FUND PROVIDES THE EDUCATION AND TRAINING OF APPRENTICES AND MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOCAL 17 TRAINING FUND HELD TRAINING COURSES FOR APPRENTICES DURING THE FISCAL YEAR, AND ALSO PROVIDED COURSES TO OTHER MEMBERS OF LOCAL 17 TO ENHANCE THEIR SKILLS, IMPROVE SAFETY EDUCATION, AND CERTIFY/RECERTIFY MEMBERS IN NECESSARY AREAS.
TRAINING FUND INC. ACTED AS NOMINEE FOR THE TRAINING FUND, HOLDING TITLE TO THE REAL ESTATE USED BY THE TRAINING FUND FOR PROVIDING TRAINING TO ELIGIBLE APPRENTICES AND MEMBERS OF LOCAL 17 AND FROM WHICH THE TRAINING FUND RENTED ITS ADMINISTRATIVE OFFICE SPACE. TRAINING FUND INC. MAINTAINED THE FACILITY AND GROUNDS, COLLECTED RENT, AND PAID ALL EXPENSES RELATING TO THE PROPERTY.
THE TRAINING FUND RECEIVED GRANTS FROM GOVERNMENTAL AND OTHER AGENCIES WHICH WERE USED TO OFFSET SOME OF THE COSTS OF TEACHING SAFETY AND HEALTH IN REGARD TO HAZARDOUS WASTE REMOVAL, ASBESTOS REMOVAL, CRANE SAFETY, MSHA, EXCAVATION, RADIATION SAFETY, OSHA OUTREACH, FORKLIFT SAFETY, WELDING AND BURNING, HYDRAULIC HAMMER, JOB SITE SAFETY AND DISASTER SITE WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James A Smolinski Jr Union Trst./ | OfficerTrustee | 40 | $121,702 |
Brian Benchley Employer Tru | Trustee | $0 | |
William Fekete Union Truste | Trustee | $0 | |
Paul Hopkins Union Tstee | Trustee | $0 | |
James C Logan Employer Tru | Trustee | $0 | |
Douglas May Employer Tru | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,021 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,021 |
| Total Program Service Revenue | $1,704,599 |
| Investment income | $28,543 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $34,258 |
| Net Gain/Loss on Asset Sales | $1,874 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $624 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,858,949 |
| 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. | $215,358 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $358,962 |
| Pension plan accruals and contributions | $197,018 |
| Other employee benefits | $85,340 |
| Payroll taxes | $39,292 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,325 |
| Fees for services: Accounting | $35,804 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,287 |
| Fees for services: Other | $21,063 |
| Advertising and promotion | $0 |
| Office expenses | $43,437 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,067 |
| Travel | $365 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $189 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $238,283 |
| Insurance | $54,918 |
| All other expenses | $0 |
| Total functional expenses | $1,521,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $499,977 |
| Savings and temporary cash investments | $322,760 |
| Pledges and grants receivable | $21,631 |
| Accounts receivable, net | $227,946 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,913 |
| Prepaid expenses and deferred charges | $78,800 |
| Net Land, buildings, and equipment | $2,313,837 |
| Investments—publicly traded securities | $695,973 |
| Investments—other securities | $215,125 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,379,962 |
| Accounts payable and accrued expenses | $2,443 |
| Grants payable | $0 |
| Deferred revenue | $25,849 |
| 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 | $28,292 |
| 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 | $4,351,670 |
| Total liabilities and net assets/fund balances | $4,379,962 |