Iron Workers Locals No 15 & 424
- Assets
- $603.4k
- Revenue
- $792.0k
- Investments
- $0.0
- Employees
- 30
- Location
- Cromwell, CT
- Founding
- 07/2016
- Data as of
- 06/2021
- EIN
- 06-6087354
Organization Overview
Iron Workers Locals No 15 & 424 is located in Cromwell, CT. The organization was established in 2016. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 06/2021, Iron Workers Locals No 15 & 424 employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iron Workers Locals No 15 & 424 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 06/2021, Iron Workers Locals No 15 & 424 generated $792.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $795.4k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 6 years. 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
THE FUND WAS ESTABLISHED FOR THE PURPOSE OF FINANCING TRAINING & RELATED PROGRAMS FOR ELIGIBLE TRAINEES, APPRENTICE IRON WORKERS AND JOURNEYMEN IRON WORKERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND WAS ESTABLISHED FOR THE PURPOSE OF FINANCING TRAINING & RELATED PROGRAMS FOR ELIGIBLE TRAINEES, APPRENTICE IRON WORKERS AND JOURNEYMEN IRON WORKERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Denning Trustee | Trustee | 2 | $67,395 |
Joseph Sorensen Trustee | Trustee | 2 | $67,203 |
Lowell Kahn Trustee | Trustee | 2 | $0 |
James Doheny Trustee (p) | Trustee | 2 | $0 |
Brett Wells Trustee (p) | Trustee | 2 | $0 |
Joseph Toner Trustee (p) | Trustee | 2 | $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 | $214,706 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $214,706 |
| Total Program Service Revenue | $577,310 |
| Investment income | $12 |
| 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 | $792,028 |
| 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. | $213,641 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $179,949 |
| Pension plan accruals and contributions | $21,154 |
| Other employee benefits | $11,933 |
| Payroll taxes | $29,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,008 |
| Fees for services: Accounting | $11,829 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $285 |
| Advertising and promotion | $0 |
| Office expenses | $260 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $95,777 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $339 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,019 |
| Insurance | $8,481 |
| All other expenses | $0 |
| Total functional expenses | $795,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,254 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $94,921 |
| 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 | $12,561 |
| Net Land, buildings, and equipment | $306,679 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $603,415 |
| Accounts payable and accrued expenses | $15,738 |
| 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 | $15,738 |
| 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 | $587,677 |
| Total liabilities and net assets/fund balances | $603,415 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Iron Workers Locals No 15 & 424 has recieved totaling $271,448.
| Awarding Organization | Amount |
|---|---|
Capital Workforce Partners Inc Hartford, CT PURPOSE: ADULT EMPLOYMENT TRAINING | $135,724 |
Capital Workforce Partners Inc Hartford, CT PURPOSE: ADULT EMPLOYMENT TRAINING | $135,724 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cardinal Cushing Centers Inc Hanover, MA | $37,067,888 | $40,935,356 |
Ort America Inc New York, NY | $29,293,739 | $16,000,497 |
Brooklyn Excelsior Charter School Brooklyn, NY | $823,096 | $13,395,974 |
All Our Kin Inc New Haven, CT | $6,225,964 | $7,705,066 |
Mason Tenders Training Fund Long Island City, NY | $44,024,998 | $3,801,436 |
North Bennet Street School Boston, MA | $57,772,831 | $8,454,312 |
Coop Careers Inc New York, NY | $4,159,202 | $8,380,118 |
American Academy Mcallister Institute Of Funeral Service Inc New York, NY | $4,267,692 | $5,884,780 |
Pipefitters Local Union No 537 Education Trust Dorchester, MA | $52,682,067 | $10,001,027 |
Propel America Boston, MA | $3,917,614 | $6,072,902 |
Finishing Trades Institute Of New York New York, NY | $16,930,233 | $2,729,484 |
Sheet Metal Workers Local Union No 28 Education Fund Jamaica, NY | $12,641,253 | $5,378,417 |