Overview
What is Carpenters' Guaranty Fund?
The Carpenters' Guaranty Fund is a nonprofit organization established to ensure the financial stability of multi-employer Taft-Hartley funds. It is headquartered at 22260 HAGGERTY ROAD SUITE 350, Northville, MI 48167. Its primary mission is to reimburse these funds when they encounter uncollectible delinquent employer contributions, as stipulated by the collective bargaining agreement. This safeguards the eligibility and benefits of carpenter employees who might be affected by an employer's inability to meet their financial obligations.
Is Carpenters' Guaranty Fund legitimate?
Carpenters' Guaranty Fund is a legitimate nonprofit organization registered as a 501(c)(5) entity. Carpenters' Guaranty 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: $0
For more financial information, click here
What is the mission statement of Carpenters' Guaranty Fund?
The Carpenters' Guaranty Fund is established to provide payment for delinquent contributions due to a multi-employer Taft-Hartley fund, from an employer subject to a collective bargaining agreement, in relation to a carpenter employee whose eligibility for or level of benefits has been impaired due to uncollectible amounts from the employer. In simpler terms, the fund serves as a backup source to cover unpaid contributions from employers, thereby ensuring that eligible carpenter employees receive their due benefits. The Guaranty Fund holds employer security deposits and reimburses qualified multi-employer Taft-Hartley constituent funds for uncollectible delinquent employer contributions, as per the collective bargaining agreement.
Who is the CEO of Carpenters' Guaranty Fund?
Michael Barnwell is the Trustee of Carpenters' Guaranty Fund.
What is the revenue of Carpenters' Guaranty Fund?
Carpenters' Guaranty Fund's revenue in 2023 was $222,468.
Who are the executives of Carpenters' Guaranty Fund and what are their salaries?
There 12 volunteers at Carpenters' Guaranty Fund.
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $255,490
- Other: $118,623
- Compensation: $0
- Related: $189,482
- Other: $116,368
- Compensation: $0
- Related: $134,108
- Other: $94,907
- Compensation: $0
- Related: $124,940
- Other: $96,775
- Compensation: $0
- Related: $122,351
- Other: $84,260
- Compensation: $0
- Related: $122,351
- Other: $84,260
- Compensation: $0
- Related: $122,251
- Other: $84,260
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Carpenters' Guaranty Fund?
Carpenters' Guaranty Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Carpenters' Guaranty Fund
The Carpenters' Guaranty Fund, in essence, serves as a safeguard to provide payment for delinquent contributions that have not been paid by an employer to a multi-employer Taft-Hartley fund. This fund is crucial for carpenter employees whose eligibility or level of benefits have been impacted due to the uncollectible amount from the employer. The mission of the Carpenters' Guaranty Fund is to ensure that qualified multi-employer Taft-Hartley constituent funds receive reimbursement for these unpaid, delinquent employer contributions, as per the collective bargaining agreement. The fund holds employer security deposits and acts as a backup, providing financial support when necessary.
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Impact
October, 2024
The Carpenters' Guaranty Fund plays a crucial role in ensuring that carpenter employees receive the benefits they are entitled to, even when their employers fail to make required contributions. By holding employer security deposits, the Fund provides a safety net that reimburses qualified multi-employer Taft-Hartley funds for any delinquent contributions that become uncollectible. This not only safeguards the benefits of workers but also enhances the overall stability of the benefits system under collective bargaining agreements.
The impact of the Fund extends to both employees and employers by maintaining trust in the system of worker benefits. It alleviates the financial strain on employees whose eligibility or level of benefits might otherwise be compromised. In this way, the Carpenters' Guaranty Fund fosters a more reliable and equitable environment for all parties involved, reinforcing the mutual benefit framework established by collective agreements. By addressing the issue of uncollectible contributions, the Fund helps maintain the financial integrity of the multi-employer system, ensuring that carpenter workers can depend on their benefits throughout their careers.
This information is meant to be a general summary of Carpenters' Guaranty 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 2023.
- Investment Income: $28,936
- Program Service Revenue: $193,532
- Gross Receipts: $222,468
Assets and Liabilities:
- Total Assets: $1,287,146
- Total Liabilities: $91,155
- Net Assets: $1,195,991
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$193,532
Organization Details
Founding Year
1968
Phone
(248) 305-9905Principal Officer
Michael Barnwell
Main Address
22260 HAGGERTY ROAD SUITE 350, NORTHVILLE, MI, 48167
NTEE Category
Code: Y99 - Mutual benefit
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