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← INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 98 TRAINING FUND

Form 990 for tax year 2023

Filed by INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 98 TRAINING FUND.

Totals

Total revenue
$1,226,550
Total expenses
$1,054,454
Contributions and grants received
$32,095
Grants paid
$0
Program service revenue
$1,155,360
Investment income
$39,095
Other revenue
$0
Total assets, end of year
$5,181,634
Total liabilities, end of year
$1,372,550
Net assets or fund balances, end of year
$3,809,084
Program services expenses (Part IX)
$874,453
Management and general expenses
$180,001
Fundraising expenses
$0
Program service expenses (Part III)
$874,453

Program services were 82.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $32,095

  • 1g · Noncash contributions included above

    $32,095

  • 2a · Program service revenue: EMPLOYER CONTRIBUTIONS

    total $1,086,084 · related or exempt $1,086,084

  • 2b · Program service revenue: RENTAL INCOME FROM AFF

    total $69,276 · related or exempt $69,276

  • 3 · Investment income

    total $39,095 · excluded $39,095

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $186,587 · program services $186,587

  • 7 · Other salaries and wages

    total $110,280 · program services $110,280

  • 8 · Pension plan contributions

    total $57,489 · program services $57,489

  • 9 · Other employee benefits

    total $34,856 · program services $34,856

  • 10 · Payroll taxes

    total $19,965 · program services $19,965

  • 11b · Fees: legal

    total $17,970 · management and general $17,970

  • 11c · Fees: accounting

    total $21,000 · management and general $21,000

  • 11f · Fees: investment management

    total $11,250 · management and general $11,250

  • 13 · Office expenses

    total $18,327 · program services $16,826 · management and general $1,501

  • 14 · Information technology

    total $31,066 · program services $31,066

  • 16 · Occupancy

    total $64,320 · program services $64,320

  • 17 · Travel

    total $3,909 · program services $3,909

  • 19 · Conferences, conventions and meetings

    total $3,525 · program services $3,525

  • 20 · Interest

    total $71,166 · program services $71,166

  • 22 · Depreciation, depletion and amortization

    total $159,947 · program services $159,947

  • 23 · Insurance

    total $39,303 · program services $35,023 · management and general $4,280

  • 24a · Other expenses: REIMB TO RELATED ORG

    total $124,000 · management and general $124,000

  • 24b · Other expenses: EQUIPMENT REPAIRS & MAI

    total $64,852 · program services $64,852

  • 24c · Other expenses: FUEL & UTILITIES

    total $14,642 · program services $14,642

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $379,873 · end of year $155,624

  • 2 · Savings and temporary cash investments

    beginning of year $224,433 · end of year $503,418

  • 4 · Accounts receivable

    beginning of year $84,561 · end of year $90,811

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

    $4,621,011

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

    $1,222,815

  • 10c · Land, buildings and equipment, net

    beginning of year $3,463,057 · end of year $3,398,196

  • 11 · Investments: publicly traded securities

    beginning of year $951,852 · end of year $1,033,585

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,618 · end of year $68,029

  • 23 · Secured mortgages and notes payable

    beginning of year $1,492,102 · end of year $1,304,521

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,588,056 · end of year $3,809,084

Mission and programs · 2023

Mission

TO PROVIDE TRAINING, SKILL IMPROVEMENT AND SAFETY EDUCATION TO ELIGIBLE PARTICIPANTS.

  • TO PROVIDE TRAINING, SKILL IMPROVEMENT AND SAFETY EDUCATION TO ELIGIBLE PARTICIPANTS.

    Expenses $874,453

As filed on the 2023 return.

Listed in Part VII

  • Darren Auger

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • David Kazmierczak

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • William D Fay

    UNION TRUSTEE/CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Christopher Gagliarducci

    EMPLOYER TRUSTEE/SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Jenna Rahkonen

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Jonathan Pecoy

    EMPLOYER TRUSTEE - EFF 3/2023

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Kara Richotte

    FUND ADMINISTRATOR

    Total calculated
    $189,184
    From this org
    $0
    From related orgs
    $110,790
    Other
    $78,394
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $110,249 related
    Bonus
    $0 + $541 related
    Other
    $0
    Deferred
    $0 + $50,286 related
    Nontaxable benefits
    $0 + $28,108 related
    Filer's total
    $0 + $189,184 related

  • Nicholas Girolamo

    TRAIN. DIRECTOR

    Total calculated
    $186,587
    From this org
    $109,649
    From related orgs
    $0
    Other
    $76,938
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $100,249
    Bonus
    $541
    Other
    $8,859
    Deferred
    $48,830
    Nontaxable benefits
    $28,108
    Filer's total
    $186,587

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J, SUPPLEMENTAL INFORMATION
KARA RICHOTTE RECEIVES COMPENSATION AND BENEFITS IN HER CAPACITY AS FUND ADMINISTRATOR OF THE RELATED PENSION, ANNUITY, COOPERATIVE TRUST, TRAINING AND WELFARE FUNDS. COMPENSATION AND BENEFITS ARE PAID BY THE WELFARE FUND WITH REIMBURSEMENTS MADE ACCORDINGLY. THE TRAINING FUND'S PORTION OF THESE EXPENSES IS 9% OF THE GROSS AMOUNTS DETAILED ON SCHEDULE J, PART II.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • IUOE LOCAL 98 HEALTH & WELFARE FUND

    501(C)(9) · PROVIDE HEALTH CARE AND DEATH BENEFITS TO ELIGIBLE PARTIC. · MA

  • IUOE LOCAL 98 ANNUITY FUND

    501(A) · PROVIDE RET BENEFITS TO PARTICIPANTS · MA

  • IUOE LOCAL 98 PENSION FUND

    501(A) · PROVIDE RET BENEFITS TO PARTICIPANTS · MA

  • IUOE LOCAL 98 EMPLOYERS COOP TR

    501(C)(5) · TO IMPROVE LABOR MGMT RELATIONS, SECURE EMPLOYMENT · MA

Provenance

Return type
form_990
Tax year
2023
Filed
2 July 2024
IRS schema version
2023v5.1
Source object
202421849349300122

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