Local Union 2222 Ibew Building Corporation

Nonprofit profile at a glance

EIN
061727206
IRS 990-EZ coverage
2021–2021
Forms available
Form 990 2020, Form 990-EZ 2021
Location
Quincy, MA, USA
Phone
6179296000
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Real Estate Associations

Reported finances

Revenue
$255
Expenses
$847,275
Assets
$0
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • EDWARD V HASTINGS (BOARD OF DIRECTORS/PRESIDENT)
  • KEVIN J HOLLAND (BOARD OF DIRTECTOR/VICE PRESIDENT)

People named in this filing

  • EDWARD V HASTINGS (BOARD OF DIRECTORS/PRESIDENT)
  • KEVIN J HOLLAND (BOARD OF DIRTECTOR/VICE PRESIDENT)
  • PAUL G ENGLISH (BOARD OF DIRECTOR/TREASURER)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The building corporation was established by local union 2222, ibew for the purpose of holding real estate for the use and purpose of the local. The building corporation purchased the property at 1137 Washington street, dorchester, Massachusetts and was financed by a mortgage from local union 2222. Office space was leased by local union 2222.

What it reported doing in 2021

This Labor Organization negotiates contracts, arbitrates cases and conducts all necessary activities to ensure proper working conditions and economic advantages.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -332,164.7%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -193.5% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $847K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.