New England Laborers Training Trust Fund
- Assets
- $106.5m
- Revenue
- $21.8m
- Investments
- $37.7m
- Employees
- 70
- Location
- Hopkinton, MA
- Founding
- 08/1969
- Data as of
- 12/2022
- EIN
- 04-2454286
Organization Overview
New England Laborers Training Trust Fund is located in Hopkinton, MA. The organization was established in 1969. According to its NTEE Classification (J12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Employment and related organizations. As of 12/2022, New England Laborers Training Trust Fund employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New England Laborers Training Trust Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, New England Laborers Training Trust Fund generated $21.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $14.1m during the year ending 12/2022. While expenses have increased by 4.2% per year over the past 7 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
TO PROVIDE PREVOCATIONAL, VOCATIONAL AND ADVANCEMENT TRAINING, RETRAINING AND TRAINING OF INDIVIDUALS, AND TO EDUCATE INDIVIDUALS ABOUT SAFETY STANDARDS AND THEIR COLLECTIVE BARGAINING OBLIGATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRAINING CLASSES - THE ORGANIZATION WAS CREATED TO TRAIN, RETRAIN AND EDUCATE INDIVIDUALS IN THE FIELD OF CONSTRUCTION AS THEIR VOCATION, SAFETY STANDARDS AND THEIR COLLECTIVE BARGAINING OBLIGATIONS. INDIVIDUALS RECEIVE A WEEKLY ALLOWANCE SO THEY MAY DEFRAY LIVING EXPENSES INCURRED WHILE ATTENDING CLASS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Sabitoni Administrator | 40 | $212,954 | |
James Merloni III Training Director | 40 | $193,291 | |
Gary Disciullo Comptroller | 40 | $122,536 | |
Ajay Pathak Instructor | 40 | $117,448 | |
Joel Kubilis Instructor | 40 | $117,448 | |
Nicolas Pavone Apprentice Coord | 40 | $117,448 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thomas Lemon Instructor | 12/30/22 | $129,392 |
Jeffrey Cathcart Grant Program Coord | 12/30/22 | $204,220 |
Robinson Green Beretta Corp Architect/proj Mgt | 12/30/22 | $1,779,487 |
Don Creswell Jr Security | 12/30/22 | $101,940 |
Techbowie Inc It Support | 12/30/22 | $120,841 |
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 | $718,837 |
| Noncash contributions included in lines 1a–1f | $76,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $718,837 |
| Total Program Service Revenue | $16,623,015 |
| Investment income | $1,103,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $121,366 |
| Net Gain/Loss on Asset Sales | $3,200,371 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,790,205 |
| 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. | $629,464 |
| Compensation of current officers, directors, key employees. | $629,464 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,986,761 |
| Pension plan accruals and contributions | $2,710,347 |
| Other employee benefits | $0 |
| Payroll taxes | $275,327 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,000 |
| Fees for services: Accounting | $87,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,692 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $114,105 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,400 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,078,560 |
| Insurance | $307,826 |
| All other expenses | $1,891,401 |
| Total functional expenses | $14,126,040 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,725,972 |
| Savings and temporary cash investments | $69,299 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,019,966 |
| 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 | $59,635 |
| Net Land, buildings, and equipment | $56,361,922 |
| Investments—publicly traded securities | $6,328,721 |
| Investments—other securities | $37,700,159 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $241,986 |
| Total assets | $106,507,660 |
| Accounts payable and accrued expenses | $7,173,409 |
| Grants payable | $0 |
| Deferred revenue | $2,217 |
| 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 | $11,406,452 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $165,497 |
| Total liabilities | $18,747,575 |
| Net assets without donor restrictions | $0 |
| 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 | $87,760,085 |
| Total liabilities and net assets/fund balances | $106,507,660 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New England Laborers Training Trust Fund Hopkinton, MA | $106,507,660 | $21,790,205 |
Local 282 Job Training Trust Fund Lake Success, NY | $2,187,832 | $681,666 |
Working For Women Inc Kingston, NY | $80,697 | $58,980 |
Westport Book Sale Ventures Inc Westport, CT | $138,492 | $305,223 |
Service Workers Coalition Incorporated Brooklyn, NY | $327 | $0 |
Good Job Angels Inc Great Neck, NY | $19,181 | $0 |
Daves Marketplace Charitable Fund East Greenwich, RI | $168,008 | $0 |
Jobarr Foundation Inc Great Neck, NY | $310,229 | $14,176 |
Friends Of Allegany County Arc Wellsville, NY | $309,631 | $0 |
Riley Olson Memorial Fund Inc Queensbury, NY | $16,407 | $36,960 |
Her Chair His Hair Inc Brooklyn, NY | $328 | $0 |
Aisle Help Inc Westborough, MA | $1 | $0 |
Keste Foundation Inc New York, NY | $0 | $0 |
Bg Foundation Inc Staten Island, NY | $0 | $0 |
Bowery Group Charitable Fund Inc Pelham, NY | $0 | $0 |