Ibew Local 488 Labor Management Cooperation Trust
- Assets
- $950.9k
- Revenue
- $308.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Monroe, CT
- Founding
- Data as of
- 12/2023
- EIN
- 46-2805810
Organization Overview
Ibew Local 488 Labor Management Cooperation Trust is located in Monroe, CT. Ibew Local 488 Labor Management Cooperation Trust is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2023, Ibew Local 488 Labor Management Cooperation Trust generated $308.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $537.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Ibew Local 488 Labor Management Cooperation Trust has awarded 66 individual grants totaling $847,329. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FURTHER LABOR-MGMT COOPERATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LMCC WAS ESTABLISHED TO PROVIDE FINANCIAL AND OTHER SUPPORT FOR NECA-IBEW LOCAL 488 PROGRAMS. IT PROMOTES AND IMPROVES COMMUNICATION BETWEEN LABOR & MANAGEMENT THROUGH THE ENHANCEMENT OF WORKER INVOLVEMENT IN MAKING DECISIONS THAT AFFECT THEIR WORKING LIVES. IN ADDITION, IT ALLOWS IBEW LOCAL 488 TO PROMOTE ITSELF THROUGH COMMUNITY INVOLVEMENT AND PARTICIPATION IN AN EFFORT TO INCREASE AWARENESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Murgatroyd Management Trustee | Trustee | 1 | $0 |
Michael Moconyi Management Trustee | Trustee | 1 | $0 |
Daniel Mcinerney Labor Trustee | Trustee | 1 | $0 |
Anthony Cavalli Labor Trustee | 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 | $304,081 |
| Investment income | $4,083 |
| 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 | $308,164 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $132,037 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $10,417 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $334,641 |
| Office expenses | $1,944 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,208 |
| 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 | $603 |
| All other expenses | $0 |
| Total functional expenses | $537,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $950,886 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| 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 | $950,886 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $950,886 |
| 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 | $950,886 |
Grants Awarded
Over the last fiscal year, Ibew Local 488 Labor Management Cooperation Trust has awarded $83,400 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: FINANCIAL SUPPORT | $20,000 |
BRIDGEPORT CARIBE YOUTH LEADERS PURPOSE: FINANCIAL SUPPORT | $10,000 |
ST VINCENTS MEDICAL CENTER PURPOSE: FINANCIAL SUPPORT | $5,400 |
MARILYN GOLDSTONE FOUNDATION PURPOSE: FINANCIAL SUPPORT | $10,000 |
BARNUM FESTIVAL PURPOSE: FINANCIAL SUPPORT | $38,000 |