Ironworkers Local 417 Market Recovery Fund

Nonprofit profile at a glance

EIN
901075432
IRS 990 coverage
2014–2017
Forms available
Form 990 2017
Location
Wallkill, NY, USA
Phone
8455668417
Rating confidence
Limited

Reported finances

Revenue
$0
Expenses
$0
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

2 people listed

People named in this filing

  • MICHAEL GAYDOS (BUSINESS MAN)
  • MATTHEW STODDARD (RECORDING SE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide benefits to union contractors in order to bid jobs that allow for continued employment of ironworker members

What it reported doing in 2017

Local union benefit fund organized for the purpose of ensuring fair practices in wages and job bidding for both contractors and individuals in the ironworking industry.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 79
  • Accountability: 76
  • Sustainability: NotEnoughData
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 87.5%; rating input score 88; 4th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: -13.3% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: -17.9% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 7 of 8 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2014 to 2017
  • Contacts: How to reach this organization
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.