Neca-Ibew 701 Labor Management Cooperation Committee
- Assets
- $1.5m
- Revenue
- $662.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Warrenville, IL
- Founding
- 09/1995
- Data as of
- 05/2022
- 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 05/2022, Neca-Ibew 701 Labor Management Cooperation Committee employed 6 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 05/2022, Neca-Ibew 701 Labor Management Cooperation Committee generated $662.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $525.7k during the year ending 05/2022. 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
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 |
|---|---|---|---|
Karyn Charvat Executive Director | 40 | $109,991 | |
Brian Schulz Director | Trustee | 3 | $601 |
Adam Simoncelli Director | Trustee | 3 | $527 |
Frank Furco Director | Trustee | 3 | $0 |
Peter Cattaneo Jr Director | Trustee | 3 | $0 |
Giuseppe Muzzupappa Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,700 |
| 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 | $50,700 |
| Total Program Service Revenue | $548,107 |
| Investment income | $17,019 |
| 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 | $662,856 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,525 |
| Grants and other assistance to domestic individuals. | $10,829 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,261 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $195,645 |
| Pension plan accruals and contributions | $21,444 |
| Other employee benefits | $40,627 |
| Payroll taxes | $15,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | -$375 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,143 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,477 |
| Office expenses | $22,671 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,184 |
| Travel | $1,205 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,621 |
| Interest | $0 |
| Payments to affiliates | $39,983 |
| Depreciation, depletion, and amortization | $6,306 |
| Insurance | $12,361 |
| All other expenses | $350 |
| Total functional expenses | $525,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,421 |
| Savings and temporary cash investments | $144,928 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,094 |
| 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 | $9,864 |
| Net Land, buildings, and equipment | $17,493 |
| Investments—publicly traded securities | $938,283 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,504,083 |
| Accounts payable and accrued expenses | $9,795 |
| 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 | $9,795 |
| Net assets without donor restrictions | $1,494,288 |
| 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 | $1,504,083 |