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← LOCAL UNION NO 550 OF THE INTL ASSN OF BRIDGE STR & ORN IRON WORKERS

Form 990 for tax year 2022

Filed by LOCAL UNION NO 550 OF THE INTL ASSN OF BRIDGE STR & ORN IRON WORKERS.

Totals

Total revenue
$2,091,607
Total expenses
$1,726,384
Contributions and grants received
$103,308
Grants paid
$0
Program service revenue
$1,995,953
Investment income
-$7,654
Other revenue
$0
Total assets, end of year
$2,057,904
Total liabilities, end of year
$18,624
Net assets or fund balances, end of year
$2,039,280
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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

    $103,308

  • 2a · Program service revenue: Reimbursements From CD

    total $2,859 · related or exempt $2,859

  • 2b · Program service revenue: Death Fund Reimbursemen

    total $15,400 · related or exempt $15,400

  • 2c · Program service revenue: Membership Dues

    total $1,977,694 · related or exempt $1,977,694

  • 3 · Investment income

    total $48,519 · excluded $48,519

  • 7a · Gross sales of assets other than inventory

    securities $1,050,308

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

    securities $1,106,481

  • 7c · Gain or loss

    securities -$56,173

  • 7d · Net gain or loss

    total -$56,173 · excluded -$56,173

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $15,400

  • 5 · Compensation of officers, directors and key employees

    total $204,062

  • 7 · Other salaries and wages

    total $49,022

  • 8 · Pension plan contributions

    total $131,171

  • 9 · Other employee benefits

    total $82,186

  • 10 · Payroll taxes

    total $22,591

  • 11c · Fees: accounting

    total $27,352

  • 11g · Fees: other

    total $1,962

  • 12 · Advertising and promotion

    total $79,398

  • 13 · Office expenses

    total $33,105

  • 16 · Occupancy

    total $9,600

  • 17 · Travel

    total $15,515

  • 19 · Conferences, conventions and meetings

    total $9,551

  • 22 · Depreciation, depletion and amortization

    total $37,474

  • 23 · Insurance

    total $18,457

  • 24a · Other expenses: Dues and Initiation Fees

    total $396,590 · program services $396,590

  • 24b · Other expenses: Targeting Payments

    total $249,609 · program services $249,609

  • 24c · Other expenses: Impact

    total $112,451 · program services $112,451

  • 24d · Other expenses: Miscellaneous

    total $113,502 · program services $113,502

  • 24e · All other expenses

    total $117,386

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $384,294 · end of year $376,650

  • 2 · Savings and temporary cash investments

    beginning of year $1,161,159 · end of year $1,451,320

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

    $512,765

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

    $289,984

  • 10c · Land, buildings and equipment, net

    beginning of year $209,305 · end of year $222,781

  • 15 · Other assets

    beginning of year $5,177 · end of year $7,153

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,445 · end of year $18,624

  • 27 · Net assets without donor restrictions

    beginning of year $1,752,490 · end of year $2,039,280

Mission and programs · 2022

Mission

Develop trade skills; Cultivate friendship in the trade; Distribute employment opportunities fairly

  • The objective of the International organization shall be to encourage and develop a high standard of skill, to cultivate feelings of friendship among the craft, and to equitably distribute opportunities of employment. The objective shall be to secure by legal and proper means pay commensurate with the hazard, physical and mental taxation and exhaustion and average life endured by its members in performing services of the trade. The objective shall be to discourage piece work and promote safe and reasonable methods of work to cultivate the moral, intellectual and social conditions for the well-being of all its members, their families, & in the interest of citizenships.

As filed on the 2022 return.

Listed in Part VII

  • Theron Hodge

    Business AgentSecretary

    Total calculated
    $84,388
    From this org
    $84,388
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 0.5 related

  • William Sherer II

    Business Manager

    Total calculated
    $81,236
    From this org
    $81,236
    From related orgs
    $0
    Other
    $0
    Hours/week
    48 + 0.5 related

  • Shawn Mccartney

    Executive Committee

    Total calculated
    $72,532
    From this org
    $0
    From related orgs
    $72,532
    Other
    $0
    Hours/week
    0.5 + 40 related

  • Gary Craft

    President

    Total calculated
    $10,110
    From this org
    $10,110
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 1 related

  • Sean Diekmann

    Vice President

    Total calculated
    $2,110
    From this org
    $2,110
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5 + 0.5 related

  • Scott Slider

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Chad Jordan

    Sergeant-at-Arms

    Total calculated
    $0
    Hours/week
    0.5

  • Doug Vickers

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Nicholas Tsaftarides

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Peter Huntley

    Executive CommitteeConductor

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Felgenhauer

    Executive Committee

    Total calculated
    $0
    Hours/week
    0.5

  • David Wayble

    Executive Commitee

    Total calculated
    $0
    Hours/week
    0.5

  • Joseph Liolios

    Executive Committee

    Total calculated
    $0
    Hours/week
    0.5

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
28 September 2023
IRS schema version
2022v5.0
Source object
202312729349300506

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