Local 693 Education Fund
- Assets
- $635.5k
- Revenue
- $206.5k
- Investments
- $312.5k
- Employees
- 0
- Location
- South Burlington, VT
- Founding
- 11/1975
- Data as of
- 06/2023
- EIN
- 36-4006511
Organization Overview
Local 693 Education Fund is located in South Burlington, VT. The organization was established in 1975. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 693 Education 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, Local 693 Education Fund generated $206.5k 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 (3.5%) each year. All expenses for the organization totaled $243.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.0%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL TRAINING SERVICE TO PLUMBERS AND PIPE FITTING MEMBERS OF THE PLUMBERS AND PIPE FITTERS LOCAL 693 UNDER THE COLLECTIVE BARGAINING AGREEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EDUCATIONAL TRAINING SERVICE TO PLUMBERS AND PIPE FITTING MEMBERS OF THE PLUMBERS AND PIPE FITTERS LOCAL 693 UNDER THE COLLECTIVE BARGAINING AGREEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Gove Chairman/employee Trustee | Trustee | 2 | $0 |
Kelly Brownell Employer Trustee | Trustee | 2 | $0 |
Cole Mugford Employer Trustee | Trustee | 2 | $0 |
Adam Lamson Training Coordinator | Trustee | 2 | $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 | $218,974 |
| Investment income | $8,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$21,407 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $206,481 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,738 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,121 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,324 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,354 |
| Information technology | $4,366 |
| Royalties | $0 |
| Occupancy | $18,740 |
| Travel | $5,166 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,203 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,267 |
| Insurance | $9,873 |
| All other expenses | $4,038 |
| Total functional expenses | $243,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,639 |
| Savings and temporary cash investments | $5,614 |
| 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 | $4,632 |
| Investments—publicly traded securities | $277,092 |
| Investments—other securities | $312,504 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $635,481 |
| Accounts payable and accrued expenses | $527 |
| 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 | $527 |
| 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 | $634,954 |
| Total liabilities and net assets/fund balances | $635,481 |