Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: PER CAPITA TAX, INITIATION FEES,

  total $26,591,515 · related or exempt $26,591,515

• 2b · Program service revenue: DUES

  total $816,445 · related or exempt $816,445

• 2c · Program service revenue: RENTAL INCOME FROM AFFILIATE

  total $636,548 · related or exempt $636,548

• 2d · Program service revenue: MEMORIAL WALL INCOME

  total $6,495 · related or exempt $6,495

• 2e · Program service revenue: MANAGEMENT TRAINING PROGRAM

  total $900 · related or exempt $900

• 3 · Investment income

  total $1,220,970 · excluded $1,220,970

• 5 · Royalties

  total $54,675 · excluded $54,675

• 7a · Gross sales of assets other than inventory

  securities $27,719,285

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

  securities $27,711,864

• 7c · Gain or loss

  securities $7,421

• 7d · Net gain or loss

  total $7,421 · excluded $7,421

• 11a · Other revenue: GOLF OUTING

  total $105,900 · related or exempt $105,900

• 11b · Other revenue: REIMBURSEMENTS

  total $84,150 · related or exempt $84,150

• 11c · Other revenue: OTHER INCOME

  total $28,335 · related or exempt $28,335

• 11d · All other revenue

  total $17,946 · related or exempt $17,946

• 11e · Other revenue, total

  $236,331

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $596,667

• 3 · Grants to foreign organizations and individuals

  total $9,194

• 4 · Benefits paid to or for members

  total $300,810

• 5 · Compensation of officers, directors and key employees

  total $13,391,530

• 7 · Other salaries and wages

  total $596,427

• 8 · Pension plan contributions

  total $198,055

• 9 · Other employee benefits

  total $253,563

• 10 · Payroll taxes

  total $484,678

• 11b · Fees: legal

  total $884,725

• 11c · Fees: accounting

  total $247,794

• 11f · Fees: investment management

  total $26,442

• 11g · Fees: other

  total $62,784

• 12 · Advertising and promotion

  total $1,022,513

• 13 · Office expenses

  total $178,802

• 14 · Information technology

  total $251,630

• 16 · Occupancy

  total $235,336

• 19 · Conferences, conventions and meetings

  total $1,987,046

• 21 · Payments to affiliates

  total $469,978

• 22 · Depreciation, depletion and amortization

  total $437,410

• 23 · Insurance

  total $169,816

• 24a · Other expenses: ORGANIZATION EXPENSES

  total $603,350

• 24b · Other expenses: FOREIGN CURRENCY TRANSL

  total $567,207

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,620,180 · end of year $4,709,627

• 2 · Savings and temporary cash investments

  beginning of year $1,395,631 · end of year $8,499,939

• 4 · Accounts receivable

  beginning of year $2,102,995 · end of year $2,357,586

• 8 · Inventories for sale or use

  beginning of year $143,588 · end of year $21,579

• 9 · Prepaid expenses and deferred charges

  beginning of year $200,351 · end of year $225,165

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

  $13,321,723

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

  $3,356,398

• 10c · Land, buildings and equipment, net

  beginning of year $9,933,950 · end of year $9,965,325

• 11 · Investments: publicly traded securities

  beginning of year $14,834,052 · end of year $12,911,825

• 12 · Investments: other securities

  beginning of year $17,893,065 · end of year $18,957,278

• 15 · Other assets

  beginning of year $11,306 · end of year $43,133

• 17 · Accounts payable and accrued expenses

  beginning of year $784,850 · end of year $945,478

• 25 · Other liabilities

  beginning of year $12,737,588 · end of year $6,045,219

• 27 · Net assets without donor restrictions

  beginning of year $37,612,680 · end of year $50,700,760

The filer's explanations (Part III)

PART I, LINE 1A

THE BOX FOR "TRAVEL FOR COMPANIONS" IS MARKED. POLICIES OF THE IUEC PROVIDE CERTAIN OFFICERS, EMPLOYEES AND MEMBERS MAY BE AUTHORIZED TO REPRESENT THE UNION AT CERTAIN FUNCTIONS AND FOR THEM TO HAVE THEIR SPOUSE OR GUEST ACCOMPANY THEM AT THE EXPENSE OF THE IUEC. DURING THE FISCAL YEAR ENDED JUNE 30, 2023, THERE WERE NO "TRAVEL FOR COMPANIONS" EXPENSES.

PART I, LINE 1A

THE REGIONAL DIRECTORS AND ORGANIZERS OF THE IUEC RECEIVE A $75 ALLOWANCE PER WEEK DURING THE YEAR FOR BUSINESS USE OF THEIR PERSONAL RESIDENCE. THE ALLOWANCE FOR BUSINESS USE OF THEIR PERSONAL RESIDENCE IS DESCRIBED IN THE EXPENSE POLICY OF THE IUEC, PARAGRAPH 4, MISCELLANEOUS AND EXTRAODINARY EXPENSES.

PART I, LINE 3

AS PART OF THE IUEC CONVENTIONS A COMMITTEE EVALUATES THE COMPENSATION OF PAID OFFICERS AND CERTAIN EMPLOYEES OF THE IUEC AND ASSESSES ALTERNATIVE SCENARIOS. THE COMMITTEE PROVIDES RECOMMENDATIONS WHICH COULD RESULT IN CHANGING THE COMPENSATION OF THE GENERAL OFFICERS AND CERTAIN EMPLOYEES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• IUEC REAL ESTATE LLC

  HOLD TITLE TO REAL ESTATE · MD · income $0 · assets $565,694

  Directly controlled by INTERNATIONAL UNION OF ELEVATOR CONSTRUCTORS

• IUEC LAND HOLDING LLC

  HOLD TITLE TO LAND AND BUILDING · MD · income $709,825 · assets $3,767,000

  Directly controlled by INTERNATIONAL UNION OF ELEVATOR CONSTRUCTORS