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← SHEET METAL WORKERS LOCAL 88 JOINT APPRENTICESHIP & TRAINING FUND

Form 990 for tax year 2023

Filed by SHEET METAL WORKERS LOCAL 88 JOINT APPRENTICESHIP & TRAINING FUND.

Totals

Total revenue
$3,486,394
Total expenses
$2,159,340
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,881,119
Investment income
$447,585
Other revenue
$157,690
Total assets, end of year
$17,720,360
Total liabilities, end of year
$7,000,150
Net assets or fund balances, end of year
$10,720,210
Program services expenses (Part IX)
$1,715,534
Management and general expenses
$443,806
Fundraising expenses
$0
Program service expenses (Part III)
$1,715,534

Program services were 79.4% 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.

  • 2a · Program service revenue: EDUCATION & TRAINING

    total $2,881,119 · related or exempt $2,881,119

  • 3 · Investment income

    total $447,585 · excluded $447,585

  • 11a · Other revenue: EXPENSE RECOVERIES

    total $126,436 · related or exempt $126,436

  • 11b · Other revenue: GRANTS

    total $11,540 · related or exempt $11,540

  • 11c · Other revenue: DONATIONS RECEIVED

    total $6,000 · related or exempt $6,000

  • 11d · All other revenue

    total $13,714 · related or exempt $13,714

  • 11e · Other revenue, total

    $157,690

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $219,430 · program services $219,430

  • 7 · Other salaries and wages

    total $597,505 · program services $466,535 · management and general $130,970

  • 8 · Pension plan contributions

    total $91,526 · program services $66,680 · management and general $24,846

  • 9 · Other employee benefits

    total $93,882 · program services $55,368 · management and general $38,514

  • 10 · Payroll taxes

    total $61,454 · program services $50,232 · management and general $11,222

  • 11b · Fees: legal

    total $24,212 · management and general $24,212

  • 11c · Fees: accounting

    total $35,810 · management and general $35,810

  • 11f · Fees: investment management

    total $20,000 · management and general $20,000

  • 11g · Fees: other

    total $21,264 · management and general $21,264

  • 12 · Advertising and promotion

    total $21,996 · program services $21,996

  • 13 · Office expenses

    total $55,818 · management and general $55,818

  • 14 · Information technology

    total $26,148 · management and general $26,148

  • 16 · Occupancy

    total $75,012 · program services $75,012

  • 17 · Travel

    total $8,651 · management and general $8,651

  • 19 · Conferences, conventions and meetings

    total $5,685 · management and general $5,685

  • 20 · Interest

    total $238,144 · program services $238,144

  • 22 · Depreciation, depletion and amortization

    total $152,170 · program services $152,170

  • 23 · Insurance

    total $40,666 · management and general $40,666

  • 24a · Other expenses: CSN TUITION FEES

    total $213,519 · program services $213,519

  • 24b · Other expenses: SCHOOL SUPPLIES

    total $78,537 · program services $78,537

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $44,928 · program services $44,928

  • 24d · Other expenses: TRAINING EXPENSES

    total $32,983 · program services $32,983

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,424,919 · end of year $6,298,492

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

    $9,446,411

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

    $2,514,706

  • 10c · Land, buildings and equipment, net

    beginning of year $1,619,520 · end of year $6,931,705

  • 11 · Investments: publicly traded securities

    beginning of year $4,087,009 · end of year $4,490,163

  • 23 · Secured mortgages and notes payable

    end of year $7,000,000

  • 25 · Other liabilities

    beginning of year $150 · end of year $150

  • 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 $9,131,298 · end of year $10,720,210

Mission and programs · 2023

Mission

EDUCATION AND TRAINING OF SHEET METAL APPRENTICES

  • TO PROVIDE CLASSROOM TRAINING AND SHOP EXPERIENCE FOR APPRENTICES AND JOURNEYMAN TO ENSURE THE QUALITY OF WORK OF THE SHEET METAL UNION LOCAL 88.

    Expenses $1,715,534 · Revenue $3,038,809

As filed on the 2023 return.

Listed in Part VII

  • Geremiah Robnett

    CO-CHAIR - LABOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Angelo Iannucci

    CO-CHAIR - MANAGEMENT

    Total calculated
    $0
    Hours/week
    1

  • Robert Witt

    TRUSTEE - MANAGEMENT

    Total calculated
    $0
    Hours/week
    1

  • Mandi Wilkins

    TRUSTEE - MANAGEMENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Alfonso Lopez

    TRUSTEE - LABOR

    Total calculated
    $0
    Hours/week
    1

  • William Benes

    TRUSTEE - LABOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Edward M Abraham

    TRAINING DIRECTOR

    Total calculated
    $219,430
    From this org
    $135,346
    From related orgs
    $0
    Other
    $84,084
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,346
    Bonus
    $0
    Other
    $0
    Deferred
    $56,400
    Nontaxable benefits
    $27,684
    Filer's total
    $219,430

  • Steven L Vantine

    EMPLOYEE

    Total calculated
    $185,254
    From this org
    $124,155
    From related orgs
    $0
    Other
    $61,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,155
    Bonus
    $0
    Other
    $0
    Deferred
    $33,415
    Nontaxable benefits
    $27,684
    Filer's total
    $185,254

  • Kenneth Bosket

    EMPLOYEE

    Total calculated
    $185,254
    From this org
    $124,155
    From related orgs
    $0
    Other
    $61,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,155
    Bonus
    $0
    Other
    $0
    Deferred
    $33,415
    Nontaxable benefits
    $27,684
    Filer's total
    $185,254

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

None.

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349316403

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