Laborers District Council Trust Fund 2
- Assets
- $9.0m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Columbia, MD
- Founding
- 04/1994
- Data as of
- 09/2021
- EIN
- 52-0228954
Organization Overview
Laborers District Council Trust Fund 2 is located in Columbia, MD. The organization was established in 1994. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laborers District Council Trust Fund 2 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2021, Laborers District Council Trust Fund 2 generated $7.6m 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 $10.6m during the year ending 09/2021. 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
PROVIDER OF HOSPITAL, MEDICAL AND OTHER WELFARE BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDER OF HOSPITAL, MEDICAL AND OTHER WELFARE BENEFITS TO PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Maloney Co-Chairman | OfficerTrustee | 1 | $0 |
Julio Palomo Chairman | OfficerTrustee | 1 | $0 |
Miguel Carballo Trustee | Trustee | 1 | $0 |
Dennis Desmond Trustee | Trustee | 1 | $0 |
Pat Hurley Trustee | Trustee | 1 | $0 |
R Dario Ferrufino Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carday Associates Administration | 9/29/17 | $384,276 |
Alston & Bird Law Firm Legal Fees | 9/29/17 | $125,814 |
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 | $7,260,034 |
| Investment income | $187,554 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $109,232 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,556,820 |
| 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 | $9,977,052 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $446,088 |
| Fees for services: Legal | $80,325 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,669 |
| Fees for services: Other | $27,984 |
| Advertising and promotion | $0 |
| Office expenses | $18,026 |
| 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 | $53 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,364 |
| All other expenses | $0 |
| Total functional expenses | $10,589,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,261,731 |
| 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 | $1,310 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,713,245 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,976,286 |
| Accounts payable and accrued expenses | $1,426,888 |
| 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 | $156,922 |
| Total liabilities | $1,583,810 |
| Net assets without donor restrictions | $7,392,476 |
| 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 | $8,976,286 |