Labor World Inc
- Assets
- $89.4k
- Revenue
- $209.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Duluth, MN
- Founding
- 05/1940
- Data as of
- 12/2021
- EIN
- 41-0361360
Organization Overview
Labor World Inc is located in Duluth, MN. The organization was established in 1940. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2021, Labor World Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Labor World Inc is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2021, Labor World Inc generated $209.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $212.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE OUR CURRENT 15,800 SUBSCRIBERS AS TO INFORMATION IMPORTANT TO THE LABOR MOVEMENT NATIONWIDE AND SPECIFICALY IN NORTHERN MINNESOTA AND WISCONSIN
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATING OUR 15,800 SUBSCRIBERS ON THE LABOR MOVEMENT, LOCALLY AND NATIONALLY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Spexet Vice President | Officer | 0 | $0 |
Kathleen Adee Secretary | Officer | 0 | $0 |
Al Lafrenier President | Officer | 0 | $0 |
Scott Dulas Director | Trustee | 0 | $0 |
Ben Anderson Director | Trustee | 0 | $0 |
Mikael Sundin Director | Trustee | 0 | $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 | $207,080 |
| Investment income | $107 |
| 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 | $209,152 |
| 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 | $75,732 |
| Pension plan accruals and contributions | $6,477 |
| Other employee benefits | $8,280 |
| Payroll taxes | $6,055 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $7,019 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,803 |
| 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 | $1,332 |
| All other expenses | $0 |
| Total functional expenses | $212,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,540 |
| Savings and temporary cash investments | $44,414 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,466 |
| 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 | $5,933 |
| 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 | $89,353 |
| Accounts payable and accrued expenses | $11,246 |
| Grants payable | $0 |
| Deferred revenue | $8,651 |
| 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 | $19,897 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $67,805 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1 |
| Retained earnings, endowment, accumulated income, or other funds | $1,650 |
| Total liabilities and net assets/fund balances | $89,353 |
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