Iuoe Local 14-14b Labor Management Cooperation Trust Fund
- Assets
- $2.2m
- Revenue
- $571.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Flushing, NY
- Founding
- 01/2017
- Data as of
- 06/2023
- EIN
- 35-2573997
Organization Overview
Iuoe Local 14-14b Labor Management Cooperation Trust Fund is located in Flushing, NY. The organization was established in 2017. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iuoe Local 14-14b Labor Management Cooperation Trust 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 06/2023, Iuoe Local 14-14b Labor Management Cooperation Trust Fund generated $571.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $270.4k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Iuoe Local 14-14b Labor Management Cooperation Trust Fund has awarded 12 individual grants totaling $1,639,652. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE LOCAL 14 LMCTF IS TO, AMONG OTHER THINGS, IMPROVE COMMUNICATION BETWEEN REPRESENTATIVES OF LABOR AND MANAGEMENT; PROVIDE OPPORTUNITIES TO STUDY AND EXPLORE NEW AND INNOVATIVE JOINT APPROACHES TO ACHIEVING ORGANIZATIONAL EFFECTIVENESS; PROMOTE THE USE OF SAFE, EFFICIENT AND HIGH QUALITY CONSTRUCTION EQUIPMENT IN DEVELOPMENT, MAINTENANCE AND REHABILITATION OF INDUSTRIAL AND COMMERCIAL FACILITIES; AND FOSTER DEVELOPMENT OF CRAFT SKILLS AND HIGH QUALITY TRAINING IN THE CONSTRUCTION INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE LOCAL 14 LMCTF IS TO, AMONG OTHER THINGS, IMPROVE COMMUNICATION BETWEEN REPRESENTATIVES OF LABOR AND MANAGEMENT; PROVIDE OPPORTUNITIES TO STUDY AND EXPLORE NEW AND INNOVATIVE JOINT APPROACHES TO ACHIEVING ORGANIZATIONAL EFFECTIVENESS; PROMOTE THE USE OF SAFE, EFFICIENT AND HIGH QUALITY CONSTRUCTION EQUIPMENT IN DEVELOPMENT, MAINTENANCE AND REHABILITATION OF INDUSTRIAL AND COMMERCIAL FACILITIES; AND FOSTER DEVELOPMENT OF CRAFT SKILLS AND HIGH QUALITY TRAINING IN THE CONSTRUCTION INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Klemens Union Trustee | Trustee | 0.5 | $0 |
John Cronin Union Trustee | Trustee | 0.5 | $0 |
Edwin L Christian Union Trustee | Trustee | 0.5 | $0 |
Chris Confrey Union Trustee - Thru 10/22 | Trustee | 0.5 | $0 |
Thomas Gordon Union Trustee/training Director | Trustee | 0.5 | $0 |
John F O'hare Emplyr Trustee | Trustee | 0.5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $531,597 |
| Investment income | $39,999 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $571,596 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $224,050 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,799 |
| Fees for services: Accounting | $6,800 |
| 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 | $519 |
| Information technology | $1,203 |
| Royalties | $0 |
| Occupancy | $1,555 |
| 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 | $0 |
| Insurance | $7,723 |
| All other expenses | $9,758 |
| Total functional expenses | $270,407 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,742 |
| Savings and temporary cash investments | $2,147,048 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,242,790 |
| Accounts payable and accrued expenses | $88,701 |
| 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 | $496 |
| Total liabilities | $89,197 |
| Net assets without donor restrictions | $2,153,593 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,242,790 |
Grants Awarded
Over the last fiscal year, Iuoe Local 14-14b Labor Management Cooperation Trust Fund has awarded $224,050 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SKANSKA WALSH JV PURPOSE: REIMBURSEMENT OF SALARY AND BENEFITS PAID TO REGISTERED APPRENTICES | $86,251 |
EL SOL CONTRACTINGEL SOL LTD PURPOSE: REIMBURSEMENT OF SALARY AND BENEFITS PAID TO REGISTERED APPRENTICES | $137,799 |