Neca-Ibew 701 Labor Management Cooperation Committee
- Assets
- $1.6m
- Revenue
- $659.2k
- Investments
- $0.0
- Employees
- 7
- Location
- Warrenville, IL
- Founding
- 09/1995
- Data as of
- 05/2023
- EIN
- 36-4017836
Organization Overview
Neca-Ibew 701 Labor Management Cooperation Committee is located in Warrenville, IL. The organization was established in 1995. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 05/2023, Neca-Ibew 701 Labor Management Cooperation Committee employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neca-Ibew 701 Labor Management Cooperation Committee is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 05/2023, Neca-Ibew 701 Labor Management Cooperation Committee generated $659.2k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $531.7k during the year ending 05/2023. 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
FURTHER LABOR-MANAGEMENT COOPERATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LMCC WAS ESTABLISHED TO PROVIDE FINANCIAL AND OTHER SUPPORT FOR NECA-IBEW LCL 701 PROGRAMS. IT PROMOTES AND IMPROVES COMMUNICATION BETWEEN LABOR & MANAGEMENT THROUGH THE ENHANCEMENT OF WORKER INVOLVEMENT IN MAKING DECISIONS THAT AFFECT THEIR WORKING LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Ginuti Director | Trustee | 3 | $0 |
Robert Klco Director | Trustee | 3 | $0 |
Lee Cerny Director | Trustee | 3 | $0 |
Peter Cattaneo Jr Director | Trustee | 3 | $0 |
Ken Bronski Director | Trustee | 3 | $0 |
James Nichols Director | Trustee | 3 | $374 |
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 | $588,436 |
| Investment income | $23,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,030 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $659,246 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,045 |
| Grants and other assistance to domestic individuals. | $10,829 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,614 |
| Compensation of current officers, directors, key employees. | $2,567 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $193,124 |
| Pension plan accruals and contributions | $21,460 |
| Other employee benefits | $42,927 |
| Payroll taxes | $15,213 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,688 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,468 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,115 |
| Office expenses | $32,252 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,340 |
| Travel | $999 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,910 |
| Interest | $0 |
| Payments to affiliates | $41,898 |
| Depreciation, depletion, and amortization | $6,518 |
| Insurance | $12,951 |
| All other expenses | $350 |
| Total functional expenses | $531,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,180 |
| Savings and temporary cash investments | $375,927 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,747 |
| 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 | $9,742 |
| Net Land, buildings, and equipment | $13,096 |
| Investments—publicly traded securities | $893,722 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,565,414 |
| Accounts payable and accrued expenses | $12,616 |
| 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 | $12,616 |
| Net assets without donor restrictions | $1,552,798 |
| 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 | $1,565,414 |