Heavy Construction Industry Fund: FY2022 Nonprofit Profile & Form 990 (EIN 23-7045141)

Revenue by fiscal year
FY2020	$5.0M
FY2021	$4.9M
FY2022	$4.6M
FY2023	$4.4M
FY2024	$5.8M

Expenses by fiscal year
FY2020	$3.7M
FY2021	$3.4M
FY2022	$3.8M
FY2023	$3.9M
FY2024	$4.2M

Net assets by fiscal year
FY2020	$22.5M
FY2021	$24.4M
FY2022	$23.3M
FY2023	$25.4M
FY2024	$27.9M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1970.

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation

Robert G Wessels

Secretary/Executive Director

$0Pt VII · Sec A

Michael Attardo

President

$0Pt VII · Sec A

Jesse Ottesen

First Vice President

$0Pt VII · Sec A

Leon Jacobs

Second Vice President

$0Pt VII · Sec A

Rolando Acosta

Treasurer

$0Pt VII · Sec A

Arthur Corwin

Director

$0Pt VII · Sec A

See Heavy Construction Industry Fund executive salaries →

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 15aNo

Programs and updates

Promotes the heavy construction industry and its employees' interests.

Questions for Heavy Construction Industry Fund

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1 program · in their own filed words · FY2022

01

The heavy construction industry fund promotes the heavy construction industry in the new york metropolitan area.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$4.6M

Ln 12

Gifts and grantsLn 1h$4.3M

Investment incomeLn 3$290K

Money outPt IX

$3.8M

Ln 25

Owns and owesPt X

$23.3M

net assets · Ln 32

Cash and savingsLn 1–2$8.6M

Total assetsLn 16$23.3M

LiabilitiesLn 26$6K

PeoplePt VI, VII

6

listed · VII A

PaidVII A0

Voting boardVI 1a6

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$4.3M

Investment incomeLn 3$290K

Total revenueLn 12$4.6M

Assets in detailPt X, end of year

CashLn 1$8.4M

SavingsLn 2$195K

Cash and savings togetherLn 1–2$8.6M

InvestmentsLn 11–13$11.3M

Other assetsLn 15$3.4M

Total assetsLn 16$23.3M

LiabilitiesLn 26$6K

Net assetsLn 32$23.3M

OperationsPt I, VI

EmployeesI 50

VolunteersI 64

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$9.9M	$8.6M
InvestmentsLn 11–13	$10.9M	$11.3M
Total assetsLn 16	$24.5M	$23.3M
LiabilitiesLn 26	$9K	$6K
Net assetsLn 32	$24.4M	$23.3M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$4K
Investment management feesLn 11f	$102K
Other fees for servicesLn 11g	$20K
Office expensesLn 13	$25K
Payments to affiliatesLn 21	$3.7M
InsuranceLn 23	$75
Other expenses (24a–d)Ln 24	$34K
Total functional expensesLn 25	$3.8M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 LatestFiled with the IRS Sep 26, 2025	$5.8M	$4.2M	$1.6M	$27.9M	990 PDF
FY2023Filed with the IRS Oct 8, 2024	$4.4M	$3.9M	$484K	$25.4M	990 PDF
FY2022 ViewingFiled with the IRS Oct 14, 2023	$4.6M	$3.8M	$723K	$23.3M	990 PDF
FY2021Filed with the IRS Oct 13, 2022	$4.9M	$3.4M	$1.5M	$24.4M	990 PDF
FY2020Filed with the IRS Aug 28, 2021	$5.0M	$3.7M	$1.3M	$22.5M	990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2022 990 (6 parts)

Part I · Summary $4,569,952 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $4,537,381$4,279,792

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $405,558$290,160

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $4,942,939$4,569,952

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $3,441,102$3,846,701

I-18 Total expensesPrior year $3,441,102$3,846,701

I-19 Revenue less expensesPrior year $1,501,837$723,251

Part VI · Governance 5 of 6 board members independent, 1 to look at

VI-1a Voting members of the governing body6

VI-1b Independent voting members5

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $4,569,952 across 4 lines filed

VIII-1f All other contributions, gifts and grants$4,279,792

VIII-1h Total contributions, gifts and grants$4,279,792

VIII-3 Investment incomeExcluded from tax $290,160$290,160

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $290,160$4,569,952

Part IX · Statement of functional expenses $3,846,701 across 7 lines filed

IX-11c Accounting fees$3,904

IX-11f Investment management fees$102,255

IX-11g Other fees for services$20,394

IX-13 Office expenses$24,970

IX-21 Payments to affiliates$3,661,455

IX-23 Insurance$75

IX-24 Other expenses (24a–d)$33,648

IX-25 Total functional expenses$3,846,701

Part X · Balance sheet $23,284,401 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $9,695,645$8,386,943

X-2 Savings and temporary cash investmentsStart of year $244,251$195,113

X-11 Publicly traded securitiesStart of year $10,908,570$11,256,565

X-15 Other assetsStart of year $3,608,669$3,445,780

X-16 Total assetsStart of year $24,457,135$23,284,401

X-17 Accounts payable and accrued expensesStart of year $9,144$6,469

X-26 Total liabilitiesStart of year $9,144$6,469

X-27 Net assets without donor restrictionsStart of year $24,447,991$23,277,932

X-32 Total net assets or fund balancesStart of year $24,447,991$23,277,932

X-33 Total liabilities and net assetsStart of year $24,457,135$23,284,401

Part XI · Reconciliation of net assets $23,277,932 net assets at year end

XI-1 Total revenue$4,569,952

XI-2 Total expenses$3,846,701

XI-3 Revenue less expenses$723,251

XI-4 Net assets at start of year$24,447,991

XI-5 Net unrealized gains (losses) on investments−$1,893,310

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$23,277,932

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Heavy Construction Industry Fund FY2022 filing

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Heavy Construction Industry Fund

By the numbers

Filing history

Schedules filed Part IV