Iron Workers Regional Shop Local Union No 851
- Assets
- $1.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Wayne, MI
- Founding
- Data as of
- 06/2023
- EIN
- 32-0511014
Organization Overview
Iron Workers Regional Shop Local Union No 851 is located in Wayne, MI. As of 06/2023, Iron Workers Regional Shop Local Union No 851 employed 6 individuals. Iron Workers Regional Shop Local Union No 851 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 Regional Shop Local Union No 851 generated $1.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. While expenses have increased by 1.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LOCAL TRADE UNION ADVOCATING FOR AND REPRESENTING ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOCAL TRADE UNION ADVOCATING FOR AND REPRESENTING ITS MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael D Baumann Pres, Fin Se | Officer | 40 | $77,546 |
Jeane Chaffin Vice Preside | Officer | 40 | $56,432 |
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 | $1,019,264 |
| Investment income | $30,002 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$133 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,178,780 |
| 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 | $19,750 |
| Compensation of current officers, directors, key employees. | $133,978 |
| Compensation of current officers, directors, key employees. | $13,398 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $140,582 |
| Pension plan accruals and contributions | $35,800 |
| Other employee benefits | $79,192 |
| Payroll taxes | $23,693 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,257 |
| Fees for services: Accounting | $29,998 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,073 |
| Fees for services: Other | $13,731 |
| Advertising and promotion | $0 |
| Office expenses | $15,266 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,729 |
| Travel | $60,746 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,556 |
| Interest | $362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,444 |
| Insurance | $12,588 |
| All other expenses | $9,519 |
| Total functional expenses | $1,123,243 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $388,004 |
| Savings and temporary cash investments | $1,070,988 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,657 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $87,731 |
| Inventories for sale or use | $1,241 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $54,989 |
| Investments—publicly traded securities | $31,504 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,640,114 |
| Accounts payable and accrued expenses | $1,875 |
| 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 | $195 |
| Other liabilities | $0 |
| Total liabilities | $2,070 |
| Net assets without donor restrictions | $1,638,044 |
| 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 | $1,640,114 |