Local 374 Development And Training Fund
- Assets
- $1.3m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 2
- Location
- Hobart, IN
- Founding
- 05/1990
- Data as of
- 06/2022
- EIN
- 35-1757364
Organization Overview
Local 374 Development And Training Fund is located in Hobart, IN. The organization was established in 1990. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 06/2022, Local 374 Development And Training Fund employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 374 Development And Training Fund is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2022, Local 374 Development And Training Fund generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $1.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT AND TRAINING FUND
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE AND MAINTAIN EDUCATIONAL AND TRAINING PROGRAMS FOR THE DEVELOPMENT OF SKILLS IN CRAFTS UNDER THE JURISDICTION OF THE UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ismael Sulivan Trustee | Trustee | 1 | $0 |
Lawrence Mcmanamon Trustee | Trustee | 1 | $0 |
David Willis Trustee | Trustee | 1 | $0 |
John Mooney Trustee | Trustee | 1 | $0 |
Jerry Ripley Trustee | Trustee | 1 | $0 |
Brian Dowden Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $74,289 |
| Investment income | $2,023 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,600 |
| 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 | $1,336,193 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $244,131 |
| Pension plan accruals and contributions | $121,167 |
| Other employee benefits | $35,550 |
| Payroll taxes | $9,762 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68 |
| Fees for services: Accounting | $10,300 |
| 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 | $18,716 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,920 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,110 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,798 |
| Insurance | $40,416 |
| All other expenses | $0 |
| Total functional expenses | $1,040,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $540,026 |
| Savings and temporary cash investments | $487,718 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $69 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,330,061 |
| 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 | $77,158 |
| Total liabilities | $77,158 |
| Net assets without donor restrictions | $1,252,903 |
| 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 |
| Total liabilities and net assets/fund balances | $1,252,903 |