Carpenters Guaranty Fund is located in Northville, MI. The organization was established in 1973. According to its NTEE Classification (Y99) the organization is classified as: Mutual & Membership Benefit N.E.C., under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carpenters Guaranty 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 04/2022, Carpenters Guaranty Fund generated $197.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $243.2k during the year ending 04/2022. 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
THE FUND IS MAINTAINED TO PROVIDE FOR PAYMENT OF DELINQUENT CONTRIBUTIONS DUE THE CONSTITUENT MULTI-EMPLOYER TAFT-HARTLEY FUND FROM AN EMPLOYER SUBJECT TO THE COLLECTIVE BARGAINING AGREEMENT IN RESPECT TO A CARPENTER EMPLOYEE WHOSE ELIGIBILITY FOR OR LEVEL OF BENEFITS HAS BEEN IMPAIRED BY THE FACT THAT THE AMOUNT IS UNCOLLECTIBLE FROM THE EMPLOYER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GUARANTY FUND HOLDS EMPLOYER SECURITY DEPOSITS AND REIMBURSES QUALIFIED MULTI-EMPLOYER TAFT-HARTLEY CONSTITUENT FUNDS FOR UNCOLLECTIBLE DELINQUENT EMPLOYER CONTRIBUTIONS, PER THE COLLECTIVE BARGAINING AGREEMENT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Thomas Lutz Trustee | OfficerTrustee | 1 | $0 |
Michael Barnwell Chairman | OfficerTrustee | 1 | $0 |
Robert Halik Secretary | OfficerTrustee | 1 | $0 |
Richard Williamson Trustee | Trustee | 1 | $0 |
David Pehrson Trustee | Trustee | 1 | $0 |
Ron Urbanczyk Trustee | Trustee | 1 | $0 |
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 | $190,979 |
Investment income | $6,581 |
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 | $197,560 |
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 | $199,142 |
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 | $6,024 |
Fees for services: Legal | $10,247 |
Fees for services: Accounting | $8,210 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $19,359 |
Advertising and promotion | $0 |
Office expenses | $57 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
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 | $191 |
All other expenses | $0 |
Total functional expenses | $243,230 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $12,787 |
Savings and temporary cash investments | $14,563 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $16,708 |
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 | $477 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $1,079,002 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,123,537 |
Accounts payable and accrued expenses | $3,588 |
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 | $113,682 |
Total liabilities | $117,270 |
Net assets without donor restrictions | $1,006,267 |
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 | $1,123,537 |
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