Overview
What is Local 580 - Vacation Fund?
Local 580 - Vacation Fund is a nonprofit organization situated in New York, NY. Its primary objective is to extend vacation benefits to qualified members of Ironworkers Local Union No. 580 within the International Association of Bridge, Structural and Ornamental Iron Workers. The programs provided by this organization include the distribution of vacation benefits to eligible participants and the issuance of dividends to members.
Is Local 580 - Vacation Fund legitimate?
Local 580 - Vacation Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Local 580 - Vacation Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $98,113
For more financial information, click here
What is the mission statement of Local 580 - Vacation Fund?
The Local 580 Vacation Fund is dedicated to extending vacation benefits to eligible members of the union. Based in the International Association of Bridge, Structural and Ornamental Iron Workers, this organization's primary goal is to ensure its members can enjoy well-deserved time off. In addition to offering vacation benefits, the fund also distributes dividends to its members. The mission of the Local 580 Vacation Fund is to enhance the quality of life for its union members by providing them with valuable vacation benefits and financial rewards. By focusing on the needs and wellbeing of its members, the fund fosters a strong sense of community and support within the organization.
Who is the CEO of Local 580 - Vacation Fund?
Brendan Tormey is the Union Trustee - Co Chair of Local 580 - Vacation Fund.
What is the revenue of Local 580 - Vacation Fund?
Local 580 - Vacation Fund's revenue in 2022 was $34,338,279.
Who are the executives of Local 580 - Vacation Fund and what are their salaries?
Here are 8 key members and their salaries:
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- Related: $177,159
- Other: $120,324
Where can I find the form 990 for Local 580 - Vacation Fund?
Local 580 - Vacation Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Local 580 - Vacation Fund
Local 580 - Vacation Fund is a mission-driven organization dedicated to enriching the lives of eligible members within Local Union No. 580 of the International Association of Bridge, Structural and Ornamental Iron Workers. This nonprofit entity prioritizes the provision of well-deserved vacation benefits, offering a cherished respite for its members. By fostering a sense of rest and relaxation, the Vacation Fund aims to contribute to overall well-being and boost morale.
Beyond the vacation benefits, the Local 580 - Vacation Fund also distributes dividends to its members. These dividends serve as an additional incentive for members, providing them with a financial boost and recognizing their dedication and hard work. The organization's commitment to its members is unwavering, ensuring that they are well-supported in both their professional and personal lives.
In summary, the Local 580 - Vacation Fund is a vital component of the Local Union No. 580 community. By providing vacation benefits and distributing dividends, the organization not only enhances the lives of its members but also fosters a strong sense of camaraderie and belonging. The Vacation Fund's mission is a testament to the organization's dedication to the overall well-being and happiness of its members.
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Impact
October, 2024
Local 580 - Vacation Fund significantly enhances the financial well-being of its eligible members by providing essential vacation benefits. By ensuring that ironworkers have access to paid vacation, the fund allows members to recharge and focus on their well-being, reducing burnout and increasing overall job satisfaction. This financial support not only promotes a healthier work-life balance but also fosters loyalty and commitment within the workforce.
In addition to providing vacation benefits, Local 580 also distributes dividends, further contributing to the economic stability of its members. This dual approach not only aids in sustaining a skilled labor force but also strengthens the community within which these workers operate. Ultimately, the impact of Local 580 - Vacation Fund is felt through improved morale, increased productivity, and a stronger, more united union presence in the industry.
This information is meant to be a general summary of Local 580 - Vacation Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $137,778
- Program Service Revenue: $34,200,501
- Gross Receipts: $72,708,279
Assets and Liabilities:
- Total Assets: $26,363,593
- Total Liabilities: $25,000
- Net Assets: $26,338,593
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPANT CONTRIBUTIONS
Revenue
$34,106,325
ADMINISTRATIVE FEES
Revenue
$94,176
Organization Details
Founding Year
1956
Phone
(212) 695-5206Principal Officer
Brendan Tormey
Main Address
501 WEST 42ND STREET, NEW YORK, NY, 10036
NTEE Category
Code: Y40 - Mutual benefit
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