Iron Workers 5
- Assets
- $18.3m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 20
- Location
- Largo, MD
- Founding
- 11/1944
- Data as of
- 06/2023
- 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 06/2023, Iron Workers 5 employed 20 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 06/2023, Iron Workers 5 generated $4.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $4.3m during the year ending 06/2023. While expenses have increased by 1.7% 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
2023
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Armstrong Executive Committee | Trustee | 1 | $3,750 |
Randy Gardner Executive Committee | Trustee | 1 | $750 |
Christopher Newton Executive Committee | Trustee | 1 | $750 |
David Washington Executive Committee | Trustee | 1 | $2,242 |
Darryl Cross Executive Committee | Trustee | 1 | $0 |
Larry Luis Business Agent | Trustee | 1 | $106,877 |
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 | $3,432,852 |
| Investment income | $81,581 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $524,800 |
| 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 | $4,237,531 |
| 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. | $884,109 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $401,326 |
| Pension plan accruals and contributions | $240,497 |
| Other employee benefits | $111,602 |
| Payroll taxes | $75,906 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,122 |
| Fees for services: Accounting | $77,039 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,000 |
| Advertising and promotion | $21,631 |
| Office expenses | $195,012 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $133,817 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,380 |
| Interest | $249,386 |
| Payments to affiliates | $780,481 |
| Depreciation, depletion, and amortization | $279,641 |
| Insurance | $67,446 |
| All other expenses | $286,858 |
| Total functional expenses | $4,274,940 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25 |
| Savings and temporary cash investments | $6,309,390 |
| 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 | $11,890,224 |
| Investments—publicly traded securities | $92,240 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,291,879 |
| Accounts payable and accrued expenses | $9,089 |
| 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 | $5,807,955 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $350 |
| Total liabilities | $5,817,394 |
| Net assets without donor restrictions | $12,474,485 |
| 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 | $18,291,879 |