Hawaii Iron Workers Training Trust
- Assets
- $2.5m
- Revenue
- $717.3k
- Investments
- $0.0
- Employees
- 10
- Location
- Waipahu, HI
- Founding
- 06/1978
- Data as of
- 07/2023
- EIN
- 99-0168649
Organization Overview
Hawaii Iron Workers Training Trust is located in Waipahu, HI. The organization was established in 1978. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 07/2023, Hawaii Iron Workers Training Trust employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaii Iron Workers Training 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 07/2023, Hawaii Iron Workers Training Trust generated $717.3k 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 (5.1%) each year. All expenses for the organization totaled $897.9k during the year ending 07/2023. 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
TO PROVIDE EDUCATIONAL, SAFETY, AND TRAINING BENEFITS TO PLAN PARTICIPANTS SATISFYING ELIGIBILITY REQUIREMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN PROVIDES TRAINING BENEFITS TO ELIGIBLE PARTICIPANTS BY PAYING FOR THE TRAINING COORDINATORS AND INSTRUCTORS SALARY ($433,726), PAYROLL TAXES ($37,116), AND EMPLOYEE BENEFITS ($166,462).
THE PLAN PROVIDES TRAINING PROGRAMS TO ELIGIBLE PARTICIPANTS: SAFETY PROGRAMS ($3,983), APPRENTICESHIP PROGRAMS ($2,005), WELDING CERTIFICATION TRAINING ($40,768), AND JOURNEYMAN RETRAINING ($233).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edson Hoo Management Trustee | Trustee | 0.5 | $0 |
T Kawika Chun Management Trustee | Trustee | 0.5 | $0 |
Douglas F Ewart Management Trustee | Trustee | 0.5 | $0 |
Gaylord Lovell Management Trustee (alt) | Trustee | 0.5 | $0 |
Henry Takahashi Management Trustee | Trustee | 0.5 | $0 |
Clyde Eugenio Labor Trustee (former) | Trustee | 0.5 | $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 | $627,725 |
| Investment income | $89,565 |
| 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 | $717,290 |
| 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 | $433,726 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $70,009 |
| Other employee benefits | $96,453 |
| Payroll taxes | $37,116 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,157 |
| Fees for services: Accounting | $39,267 |
| 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 | $2,254 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,573 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,723 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7 |
| Insurance | $9,734 |
| All other expenses | $815 |
| Total functional expenses | $897,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,414 |
| Savings and temporary cash investments | $2,269,778 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $56,374 |
| 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 | $125 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $111,913 |
| Total assets | $2,463,604 |
| Accounts payable and accrued expenses | $13,442 |
| 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 | $125,591 |
| Total liabilities | $139,033 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,324,571 |
| 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 | $2,463,604 |