Iron Workers 5
- Assets
- $19.8m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 13
- Location
- Largo, MD
- Founding
- 11/1944
- Data as of
- 06/2021
- EIN
- 53-0088285
Organization Overview
Iron Workers 5 is located in Largo, MD. The organization was established in 1944. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 06/2021, Iron Workers 5 employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iron Workers 5 is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2021, Iron Workers 5 generated $5.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $4.3m during the year ending 06/2021. While expenses have increased by 2.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LABOR UNION THAT REPRESENTS ITSMEMBERS IN WAGES, SALARY, BENEFITS AND JOB SECURITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A LABOR UNION TO PROMOTE THE MATERIAL INTELLECTUAL WELFARE OF ITS MEMBERS FAMILIES. TO SECURE ADEQUATE WAGES, WORKING CONDITIONS AND OPPORTUNITIES OF EMPLOYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Bast Business Manager/fst | Officer | 50 | $129,823 |
Mark Coles Recording Secretary/organi | Officer | 45 | $101,274 |
Raymond Cleland President | Officer | 45 | $99,299 |
Will Beckman Vice President | Officer | 45 | $98,127 |
Gary Armstrong Executive Committee | Officer | 1 | $1,200 |
Christopher Newton Executive Committee | Officer | 1 | $450 |
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 | $4,163,405 |
| Investment income | $39,467 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $629,750 |
| Net Gain/Loss on Asset Sales | $542,241 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,460,953 |
| 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. | $783,900 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $508,614 |
| Pension plan accruals and contributions | $301,211 |
| Other employee benefits | $141,879 |
| Payroll taxes | $74,725 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,218 |
| Fees for services: Accounting | $45,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $112,900 |
| Office expenses | $103,595 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,422 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,130 |
| Interest | $310,572 |
| Payments to affiliates | $941,946 |
| Depreciation, depletion, and amortization | $279,642 |
| Insurance | $54,415 |
| All other expenses | $179,184 |
| Total functional expenses | $4,296,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,212 |
| Savings and temporary cash investments | $7,342,548 |
| 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 | $12,449,507 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,795,267 |
| 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 | $7,313,707 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,531 |
| Total liabilities | $7,321,238 |
| Net assets without donor restrictions | $12,474,029 |
| 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 | $19,795,267 |