Operating Engineers Local 17 Training Fund

“Robert f. Hill p.o. Box 410 west seneca, ny 14224 james c. Logan 2660 william street cheektowaga, ny 14227 douglas may 6900 seneca street elma, ny 14059 brian benchley p.o. Box 220 forestville, ny 14062 michael salvadore 1266 townline road alden, ny 14004 william fekete 5959 versailles rd lake view, ny 14085 gary swain 5959 versailles rd lake view, ny 14085 marty burchalewski 5959 versailles rd lake view, ny 14085 paul hopkins 5959 versailles road lake view, ny 14085”

“Form 990 is provided to each trustee for their review and comment prior to filing.”

“Issues regarding conflicts of interest are discussed annually by the trustees at scheduled meetings.”

“The board of trustees is responsible for setting the compensation levels. The board does consist of members of both local 17 and management (appointed by signatory employers through an association), therefore independent persons are involved in the determination of compensation levels.”

“The administrative manager of the training fund is paid at the same scale as members of local 17, as are the members of local 17 who conduct training courses. The board of trustees is responsible for setting the compensation levels. The board does consist of members of both local 17 and management (appointed by signatory employers through an association), therefore independent persons are involved in the determination of compensation levels.”

“The governing documents, conflict of interest policy, and financial statements are available to members of local 17 upon request.”

“Subsequent to the original filing of form 990, it was discovered that the land and building received in the transfer of assets from operating engineers local 463 was received prior to june 1, 2020. The original filing of form 990 did not reflect the land and building transferred, as it was thought to have formally taken place after may 31, 2020. In addition, all assets received by the training fund from local 463 pursuant to the transfer agreement have been recognized in the books of the training fund at may 31, 2020.”

“Net asset transfer 550,006 effective may 1, 2019, the international union of operating engineers local 463 ("local 463"), whose jurisdiction was niagara county, new york, merged into the international union of operating engineers local 17 ("local 17"). Subsequent to this merger, the training fund signed a transfer agreement with the upstate new york engineers training fund ("upstate fund") whereby the training fund agreed to provide benefits to the former members of local 463 substantially similar to the benefits that were provided by the upstate fund. In exchange, the upstate fund agreed to transfer certain assets to the training fund as specified in the transfer agreement. In addition, effective april 1, 2020 the training fund will receive contributions from employers signatory to a collective bargaining agreement with local 17 for hours worked in niagara county, new york. In april 2020, the training fund received an initial transfer of 111,000 from the upstate fund under the transfer agreement and other balance sheet items totaling 1,266. In may 2020, the training fund was transferred title to property at 3365 ridge road, ransomville, ny from the upstate fund as specified in the transfer agreement. The estimated fair market value of the land and building received was 165,000 and 172,079, respectively. In june 2020, the training fund received a second cash transfer in the amount of 100,661 from the upstate fund which represented the remaining assets specified in the transfer agreement. The total value of net assets transferred to the training fund amounted to 550,006.”