Local 602 Communications And Productivity Fund
- Assets
- $3.9m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Capitol Heights, MD
- Founding
- 07/1987
- Data as of
- 12/2021
- EIN
- 52-1511982
Organization Overview
Local 602 Communications And Productivity Fund is located in Capitol Heights, MD. The organization was established in 1987. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 602 Communications And Productivity Fund is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2021, Local 602 Communications And Productivity Fund generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 23.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND PROMOTES COMMUNICATION BETWEEN LABOR AND MANAGEMENT OF MEMBERS OF LOCAL UNION NO. 602 THROUGH VARIOUS PROGRAMS AND EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROMOTES COMMUNICATION BETWEEN LABOR AND MANAGEMENT THROUGH VARIOUS PROGRAMS AND EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Loveless Trustee (1/1/21-6/30/21) | Trustee | 1 | $0 |
Tom Bello Trustee | Trustee | 1 | $0 |
Sidney Bonilla Trustee (7/1/21-12/31/21) | Trustee | 1 | $0 |
Chris Madello Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Professional Sports Publications Advertising | 12/30/21 | $317,000 |
Entercom Washington Dc Advertising | 12/30/21 | $357,456 |
Wtop Advertising | 12/30/21 | $475,200 |
Washington Football Advertising | 12/30/21 | $350,000 |
Monumental Sports Entertainment Advertising | 12/30/21 | $312,406 |
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 | $2,390,696 |
| Investment income | $0 |
| 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 | $2,390,696 |
| 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 | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,273 |
| Fees for services: Accounting | $13,142 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,008,729 |
| Office expenses | $8,403 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,396,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,488,311 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $207,944 |
| 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 | $164,400 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,860,655 |
| Accounts payable and accrued expenses | $10,500 |
| 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 | $10,500 |
| Net assets without donor restrictions | $3,850,155 |
| 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 | $3,860,655 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Witf Inc Harrisburg, PA | $54,156,408 | $17,466,259 |
American Journalism Project Inc Washington, DC | $31,017,201 | $25,103,494 |
Wireless Infrastructure Association Arlington, VA | $5,735,220 | $13,503,985 |
Computer And Communications Industry Association Washington, DC | $22,913,762 | $13,219,537 |
Wqed Multimedia Pittsburgh, PA | $26,860,609 | $15,875,013 |
National Propane Gas Association Inc Washington, DC | $13,626,002 | $7,831,791 |
Movement Alliance Project Philadelphia, PA | $7,765,411 | $9,112,322 |
The Landmark Foundation Norfolk, VA | $109,541,807 | $6,787,493 |
National Center On Sexual Exploitation Inc Washington, DC | $5,068,594 | $5,085,859 |
Journalism For Change Inc Arlington, VA | $491,394 | $3,913,277 |
Public Broadcasting Of Northwest Pennsylvania Inc Erie, PA | $6,521,948 | $5,078,720 |
Mennomedia Inc Harrisonburg, VA | $1,388,799 | $3,143,696 |