Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MEMBERSHIP DUES AND ASSESSMENTS

  total $49,588,950 · related or exempt $49,588,950

• 2b · Program service revenue: ADMINISTRATIVE EXPENSE REIMBURSEMENTS

  total $10,877,963 · related or exempt $10,877,963

• 3 · Investment income

  total $4,280,497 · excluded $4,280,497

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

  total $0

• 7a · Gross sales of assets other than inventory

  securities $29,758,441

• 7b · Less cost or other basis and sales expenses

  securities $30,216,919 · other assets $68,757

• 7c · Gain or loss

  securities -$458,478 · other assets -$68,757

• 7d · Net gain or loss

  total -$527,235 · excluded -$527,235

• 8a · Fundraising events: gross income

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0

• 10a · Gross sales of inventory

  $60,333

• 10b · Cost of goods sold

  $870

• 10c · Net income from sales of inventory

  total $59,463

• 11a · Other revenue: MISCELLANEOUS

  total $864,469 · excluded $864,469

• 11e · Other revenue, total

  $864,469

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $885,388

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $2,209,477

• 5 · Compensation of officers, directors and key employees

  total $3,983,762

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $22,468,273

• 8 · Pension plan contributions

  total $4,659,398

• 9 · Other employee benefits

  total $6,141,037

• 10 · Payroll taxes

  total $1,576,783

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $739,068

• 11c · Fees: accounting

  total $323,512

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $243,542

• 11g · Fees: other

  total $39,344

• 12 · Advertising and promotion

  total $0

• 13 · Office expenses

  total $1,899,938

• 14 · Information technology

  total $1,964,146

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $2,428,880

• 17 · Travel

  total $2,040,236

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $1,084,858

• 20 · Interest

  total $0

• 21 · Payments to affiliates

  total $1,960,775

• 22 · Depreciation, depletion and amortization

  total $904,042

• 23 · Insurance

  total $532,228

• 24a · Other expenses: LABOR ORGANIZING EXPENSES

  total $936,566

• 24b · Other expenses: POLITICAL EDUCATION

  total $631,702

• 24c · Other expenses: DISTRICT COUNCIL EXPENSES

  total $97,655

• 24d · Other expenses: DUES AND ASSESSMENTS

  total $24,000

• 24e · All other expenses

  total $132,685

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $10,990,716 · end of year $13,476,488

• 2 · Savings and temporary cash investments

  beginning of year $0 · end of year $0

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $0 · end of year $0

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $0 · end of year $0

• 10a · Land, buildings and equipment: cost or other basis

  $12,299,647

• 10b · Land, buildings and equipment: accumulated depreciation

  $7,665,119

• 10c · Land, buildings and equipment, net

  beginning of year $4,763,420 · end of year $4,634,528

• 11 · Investments: publicly traded securities

  beginning of year $102,376,153 · end of year $108,868,315

• 12 · Investments: other securities

  beginning of year $6,418,621 · end of year $6,418,621

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $2,043 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $0 · end of year $0

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $585,547 · end of year $109,814

• 27 · Net assets without donor restrictions

  beginning of year $123,965,406 · end of year $133,288,138

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

PART I, LINE 1A - TAX INDEMNIFICATION AND GROSS-UP PAYMENTS:

REIMBURSEMENT FOR TRANSPORTATION AND TRAVEL AWAY FROM HOME (INCLUDING TAX GROSS-UP). CONSIDERED TAXABLE COMPENSATION.

PART I, LINE 1A - FIRST-CLASS TRAVEL:

THE GENERAL PRESIDENT AND CERTAIN OFFICERS/STAFF AS AUTHORIZED BY THE GENERAL PRESIDENT MAY TRAVEL FIRST CLASS ON OFFICIAL UNION BUSINESS WHICH IS NOT DEEMED TAXABLE COMPENSATION.

PART I, LINE 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN:

THE TRUSTEES OF THE BRIDGE AND IRON WORKERS STAFF RETIREMENT PLAN FROM TIME TO TIME SHALL SELECT THOSE EMPLOYEES WHO ARE ELIGIBLE TO PARTICIPATE IN THE SUPPLEMENTAL PLAN. THE EMPLOYEES SELECTED SHALL CONSIST OF THE CONSTITUTIONAL OFFICERS (AS DEFINED IN THE CONSTITUTION OF THE IABSORIW) AND WHO WOULD OTHERWISE RECEIVE BENEFITS PAYABLE FROM THE RETIREMENT PLAN EXCEPT FOR THE LIMITATIONS OF IRC SECTIONS 401(A)(17) OR 415. AN EMPLOYEE THAT PARTICIPATES IN THE SUPPLEMENTAL PLAN IS ELIGIBLE TO RECEIVE A BENEFIT UPON THE OCCURANCE OF EITHER RETIRING FROM THE EMPLOYMENT OF IABSORIW OR AFTER HE BEGINS TO RECEIVE A MANDATORY DISTRIBUTION PURSUANT TO LANGUAGE WITHIN THE RETIREMENT PLAN. PAYMENT OF THE EXCESS BENEFITS IS INTENDED TO PROVIDE CERTAIN PARTICIPANTS WITH A BENEFIT EQUAL TO ANY REDUCTION IN NORMAL RETIREMENT BENEFITS OR EARLY RETIREMENT BENEFITS UNDER THE RETIREMENT PLAN, RESULTING FROM THE LIMITATIONS IMPOSED UNDER IRC SECTION 415 AND/OR IRC SECTION 401(A)(17). THE FIRST YEAR OF PAYMENT TO THE PARTICIPANT WILL PAY A PORTION OF THE BENEFIT IN A LUMP SUM DISTRIBUTION. SUCH PARTIAL LUMP-SUM PAYMENT SHALL BE NOT LESS THAN THE APPLICABLE PERCENTAGE REQUIRED TO MEET THE MINIMUM FEDERAL WITHHOLDING AMOUNT FOR ONE-TIME PAYMENTS, NOT MORE THAN FIFTY (50) PERCENT OF THE PRESENT VALUE OF THE BENEFIT PAYABLE. FOR PURPOSES OF DETERMINING THE PRESENT VALUE OF SUCH BENEFIT, THE MORTALITY TABLE AND INTEREST RATE USED SHALL BE THE SAME AS USED BY THE RETIREMENT PLAN FOR FUNDING PURPOSES. ALL FUTURE BENEFIT PAYMENTS SHALL BE SUBJECT TO A CORRESPONDING ACTUARIAL REDUCTION. IN NO INSTANCE SHALL THE TOTAL OF THE BENEFITS PAYABLE FROM THE COMBINATION OF THE RETIREMENT PLAN AND THE SUPPLEMENTAL PLAN EXCEED THE BENEFITS, WHICH WOULD OTHERWISE HAVE BEEN PAID FROM THE RETIREMENT PLAN ALONE IN THE ABSENCE OF THE LIMITATIONS OF THE IRC SECTION 401(A)(17) OR 415.

PART II, COLUMN C - DEFERRED COMPENSATION:

THIS REPRESENTS THE ANNUAL INCREASE IN ACTUARIAL VALUE OF A QUALIFIED DEFINED BENEFIT PLAN, AS CALCULATED BY THE PLAN ACTUARY. THIS DOES NOT REPRESENT ACTUAL CASH OUTLAYS.