Ironworkers Union Local #7

Not tax-deductible

South Boston, MA501(c)(5)Since 1896EIN 04-1473615

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To provide labor Union activities

$2.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $3.2M a year · 20% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Pay to officers and key staff
$2.0M
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 12.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$958K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
27
of 27 voting members
Looks good: 27 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$14.0M
-7% vs prior year
Spent
$12.5M
Net assets
$31.1M
By yearFY2021–FY2024
Revenue
$14.0M
FY2024▼ -7%
Revenue by fiscal year
FY2021$15.5M
FY2022$15.7M
FY2023$17.3M
FY2024$15.0M
FY2024$14.0M
Expenses
$12.5M
FY2024▲ +4%
Expenses by fiscal year
FY2021$12.6M
FY2022$13.4M
FY2023$12.6M
FY2024$12.0M
FY2024$12.5M
Net assets
$31.1M
FY2024▲ +6%
Net assets by fiscal year
FY2021$19.4M
FY2022$21.3M
FY2023$26.1M
FY2024$29.3M
FY2024$31.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1944.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

27 people listed on the 990; $2.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
Business Manager
$199,770Pt VII · Sec A
Business Agent
$181,709Pt VII · Sec A
Business Agent
$181,278Pt VII · Sec A
Business Agent
$181,104Pt VII · Sec A
Business Agent
$180,643Pt VII · Sec A
Business Agent
$180,620Pt VII · Sec A
Business Agent
$180,378Pt VII · Sec A
Financial Secretary Treasu
$179,177Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Vincent Coyle JR$199,770$192,083$166,926$162,428$157,399
Kevin Collins$181,709$173,971$164,942$162,043$157,297
Paul Repucci$181,278$16,728———
Walter Belmonte JR$181,104$173,820$163,917$162,401$157,500
Christopher Beaton$180,643$170,306$4,442$5,696$2,273
Thomas Pecoraro$180,620$173,817$35,346$15,635—
Daniel McWilliams$180,378$177,064$170,385$101,236$629
Michael Hess——$176,323$179,301$172,663

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ironworkers Union Local #7 executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Ironworkers Union Local #7 is a member-serving organization based in South Boston, MA, formed in 1896.

Provided by the organization

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1 program · in their own filed words · FY2024
01

Labor union activities

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$14.0M
Ln 12
Fees for servicesLn 2g$12.8M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$19K
Money outPt IX
$12.5M
Ln 25
Owns and owesPt X
$31.1M
net assets · Ln 32
Cash and savingsLn 1–2$12.9M
Total assetsLn 16$32.1M
LiabilitiesLn 26$958K
PeoplePt VI, VII
27
listed · VII A
PaidVII A27
Voting boardVI 1a27
IndependentVI 1b27
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$12.8M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$19K
Total revenueLn 12$14.0M
Assets in detailPt X, end of year
CashLn 1$400K
SavingsLn 2$12.5M
Cash and savings togetherLn 1–2$12.9M
InvestmentsLn 11–13$17.7M
Land, buildings, equipmentLn 10c$68K
Other assetsLn 15$522K
Total assetsLn 16$32.1M
LiabilitiesLn 26$958K
Net assetsLn 32$31.1M
OperationsPt I, VI
EmployeesI 540
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$12.5M$12.9M
InvestmentsLn 11–13$16.5M$17.7M
Land, buildings, equipmentLn 10c$78K$68K
Total assetsLn 16$30.3M$32.1M
LiabilitiesLn 26$982K$958K
Net assetsLn 32$29.3M$31.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$162K
Pay of current officers, directors and key staffLn 5$2.0M
Pay of disqualified personsLn 6$188K
Pension plan contributionsLn 8$992K
Other employee benefitsLn 9$310K
Payroll taxesLn 10$194K
Legal feesLn 11b$5K
Accounting feesLn 11c$73K
Lobbying feesLn 11d$77K
Investment management feesLn 11f$4K
Office expensesLn 13$669K
Information technologyLn 14$98K
OccupancyLn 16$101K
Conferences, conventions and meetingsLn 19$188K
Depreciation, depletion and amortizationLn 22$10K
InsuranceLn 23$400K
Other expenses (24a–d)Ln 24$6.7M
All other expensesLn 24e$285K
Total functional expensesLn 25$12.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $15.0M$12.0M$3.0M$29.3M 990 PDF
FY2023 $17.3M$12.6M$4.7M$26.1M 990 PDF
FY2022 $15.7M$13.4M$2.3M$21.3M 990 PDF
FY2021 $15.5M$12.6M$2.9M$19.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $13,982,134 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,827,388$12,827,388
VIII-3 Investment incomeExcluded from tax $1,136,185$1,136,185
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $18,561$18,561
VIII-12 Total revenueRelated to mission $12,845,949 · Unrelated business $0 · Excluded from tax $1,136,185$13,982,134
Part IX · Statement of functional expenses $12,526,044 across 18 lines filed
IX-4 Benefits paid to or for members$161,923
IX-5 Pay of current officers, directors and key staff$2,036,787
IX-6 Pay of disqualified persons$188,198
IX-8 Pension plan contributions$992,172
IX-9 Other employee benefits$309,579
IX-10 Payroll taxes$194,184
IX-11b Legal fees$4,931
IX-11c Accounting fees$73,163
IX-11d Lobbying fees$76,980
IX-11f Investment management fees$3,948
IX-13 Office expenses$669,097
IX-14 Information technology$97,621
IX-16 Occupancy$101,184
IX-19 Conferences, conventions and meetings$188,239
IX-22 Depreciation, depletion and amortization$10,100
IX-23 Insurance$399,771
IX-24 Other expenses (24a–d)$6,733,031
IX-24e All other expenses$285,136
IX-25 Total functional expenses$12,526,044
Part X · Balance sheet $32,077,646 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $259,396$400,456
X-2 Savings and temporary cash investmentsStart of year $12,192,350$12,452,443
X-4 Accounts receivableStart of year $853,098$861,414
X-9 Prepaid expenses and deferred chargesStart of year $94,496$82,380
X-10c Land, buildings and equipment, netStart of year $78,279$68,179
X-11 Publicly traded securitiesStart of year $16,467,312$17,690,770
X-15 Other assetsStart of year $306,066$522,004
X-16 Total assetsStart of year $30,250,997$32,077,646
X-17 Accounts payable and accrued expensesStart of year $681,392$435,896
X-25 Other liabilitiesStart of year $300,825$522,004
X-26 Total liabilitiesStart of year $982,217$957,900
X-32 Total net assets or fund balancesStart of year $29,268,780$31,119,746
X-33 Total liabilities and net assetsStart of year $30,250,997$32,077,646
Part XI · Reconciliation of net assets $31,119,746 net assets at year end
XI-1 Total revenue$13,982,134
XI-2 Total expenses$12,526,044
XI-3 Revenue less expenses$1,456,090
XI-4 Net assets at start of year$29,268,780
XI-5 Net unrealized gains (losses) on investments$394,876
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$31,119,746

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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