Iron Workers Local 401
- Assets
- $1.8m
- Revenue
- $840.9k
- Investments
- $0.0
- Employees
- 12
- Location
- Philadelphia, PA
- Founding
- 07/1984
- Data as of
- 06/2023
- EIN
- 23-7653299
Organization Overview
Iron Workers Local 401 is located in Philadelphia, PA. The organization was established in 1984. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 06/2023, Iron Workers Local 401 employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iron Workers Local 401 is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2023, Iron Workers Local 401 generated $840.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $893.9k during the year ending 06/2023. 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
TRAINING OF INDIVIDUAL MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IRON WORKERS LOCAL 401 APPRENTICE TRAINING FUND PROVIDES FOR THE TRAINING OF INDIVIDUALS WORKING IN JOB CLASSIFICATIONS COVERED BY COLLECTIVE BARGAINING AGREEMENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Boyle Union Trustee | Trustee | 5 | $0 |
Erik Sims Employer Trustee | Trustee | 5 | $0 |
Michael Mcgrogan Coordinator | Officer | 40 | $130,116 |
Jamal Coles Union Trustee | Trustee | 5 | $0 |
Chuck Nehring Employer Trustee | Trustee | 5 | $0 |
Mike Tierney Employer Trustee | Trustee | 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 | $20,153 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,153 |
| Total Program Service Revenue | $787,567 |
| Investment income | $32,712 |
| 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 | $438 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $840,870 |
| 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 | $56,616 |
| Compensation of current officers, directors, key employees. | $172,031 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,175 |
| Pension plan accruals and contributions | $98,026 |
| Other employee benefits | $60,541 |
| Payroll taxes | $28,049 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $573 |
| Fees for services: Accounting | $4,400 |
| 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 | $19,783 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $171,612 |
| Travel | $22,290 |
| 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 | $43,163 |
| Depreciation, depletion, and amortization | $20,645 |
| Insurance | $8,572 |
| All other expenses | $36,449 |
| Total functional expenses | $893,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,706 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $49,083 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,153 |
| Inventories for sale or use | $3,000 |
| Prepaid expenses and deferred charges | $9,751 |
| Net Land, buildings, and equipment | $131,657 |
| Investments—publicly traded securities | $1,408,392 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,752,742 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $1,752,742 |
| Total liabilities and net assets/fund balances | $1,752,742 |