Minnesota Laborers-Employers Cooperation & Education Trust Fund
- Assets
- $1.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 1
- Location
- Mendota Heights, MN
- Founding
- 03/1994
- Data as of
- 12/2022
- EIN
- 41-6363196
Organization Overview
Minnesota Laborers-Employers Cooperation & Education Trust Fund is located in Mendota Heights, MN. The organization was established in 1994. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Laborers-Employers Cooperation & Education Trust 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 12/2022, Minnesota Laborers-Employers Cooperation & Education Trust Fund generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 6.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
LABOR-MANAGEMENT ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND DIRECTOR MEETS WITH CONTRACTORS, UNION MEMBERS AND LOCAL AND STATE GOVERNMENTAL AGENCIES TO PROMOTE UNDERSTANDING, IMPROVE SAFETY, AND ENHANCE COMMUNICATION IN THE LABORERS INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Peper Co-Chairman | Trustee | 1 | $0 |
Dan Olson Trustee | Trustee | 1 | $0 |
Keith Petersen Trustee | Trustee | 1 | $0 |
Kim Schrupp Trustee | Trustee | 1 | $0 |
Sheldon Steele Trustee | Trustee | 1 | $0 |
Shawn Braford Co-Chairman | Trustee | 1 | $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 | $1,174,213 |
| Investment income | $649 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,504 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,189,484 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,606 |
| Grants and other assistance to domestic individuals. | $7,000 |
| 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 | $121,424 |
| Pension plan accruals and contributions | $60,894 |
| Other employee benefits | $18,409 |
| Payroll taxes | $9,492 |
| Fees for services: Management | $9,464 |
| Fees for services: Legal | $3,812 |
| Fees for services: Accounting | $6,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,419 |
| Advertising and promotion | $488,755 |
| Office expenses | $21,657 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,000 |
| Travel | $8,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,002 |
| Interest | $0 |
| Payments to affiliates | $271,896 |
| Depreciation, depletion, and amortization | $26,156 |
| Insurance | $9,484 |
| All other expenses | $0 |
| Total functional expenses | $1,399,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,417 |
| Savings and temporary cash investments | $932,475 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,461 |
| 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 | $7,211 |
| Net Land, buildings, and equipment | $152,788 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,796 |
| Total assets | $1,371,148 |
| Accounts payable and accrued expenses | $45,010 |
| 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 | $44,135 |
| Total liabilities | $89,145 |
| Net assets without donor restrictions | $1,282,003 |
| 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 | $1,371,148 |