Local 60-Cic-bac-lm Trust

Nonprofit profile at a glance

EIN
466139805
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Hawthorne, NY, USA
Phone
9147692440
Rating confidence
Limited
Sector
Labor Unions

Reported finances

Revenue
$977,983
Expenses
$91,732
Assets
$6,086,439
Liabilities
$1,602

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Highest reported compensation

  • ANTHONY ASCENCAO (UNION TRUSTEE): $490,240 total reported compensation
  • FRANK BISIGNANO (TRAINING DIRECTOR): $388,795 total reported compensation
  • JACINTO FRAGOSO (UNION TRUSTEE): $311,233 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The fund may provide any benefit that is permissible under the applicable provisions of the code, including, but not limited to improving communications between the union and employers. It identifies and expands work opportunities for construction workers and employers and promotes efficiency in operations and the economic competitiveness of the union and the employers in the territorial jurisdiction of the union. It also promotes the health and safety of construction workers employed by employers and of their families and conducts research, performs studies, collects information, develops procedures and otherwise acts to minimize the hazards in the workplace of construction workers employed by employers.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: 60
  • Accountability: 60
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 40%; rating input score 40; 10th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 90.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 66.35; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 863.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 20.3% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 27.5% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 2 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $490K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 10 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 40/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.