Civic Intelligence

Local Union 488 Ibew Building

EIN 26-1560789 • 501(c)2 • Monroe, CT

Profile

This building corporation was created for the sole purpose of holding legal title to real estate located at 721 main street, monroe, ct 06468 and any other property that may be acquired, to operate as a meeting hall, local headquarters, training facility and other purposes for the sole benefit of the labor organization known as local 488 international brotherhood of electrical workers (06-0400910)

721 Main Street Route 25Monroe, CT 06468

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

51st percentile

0.24x

Higher debt load relative to assets than 51% of similar nonprofits.

501(c)2 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

72nd percentile

6.34x

Higher debt load relative to revenue than 72% of similar nonprofits.

501(c)2 • $5M-$10M nonprofits • Source year 2025

Net Margin

7th percentile

-178%

Higher net margin than 7% of similar nonprofits.

501(c)2 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

67th percentile

$228,312

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 108.1% of source-year revenue.

501(c)2 • $5M-$10M nonprofits • Source year 2025

Asset Growth

92nd percentile

21%

Faster asset growth than 92% of similar nonprofits.

501(c)2 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

33rd percentile

-1.4%

Faster revenue growth than 33% of similar nonprofits.

501(c)2 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Assets

Down

$4,561,031

Down $103,045 (-2.2%) from 2023

Liabilities

Down

$1,388,740

Down $49,436 (-3.4%) from 2023

Net Assets

Down

$3,172,291

Down $53,609 (-1.7%) from 2023

Revenue

Down

$214,303

Down $196,257 (-48%) from 2023

Expenses

Up

$348,651

Up $12,858 (+3.8%) from 2023

Net Income

Down

-$134,348

Down $209,115 (-280%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2016: $5,300,425Liabilities 2016: $2,427,993Net Assets 2016: $2,872,4322016Assets 2017: $5,324,495Liabilities 2017: $2,254,607Net Assets 2017: $3,069,8882017Assets 2018: $5,533,986Liabilities 2018: $2,071,062Net Assets 2018: $3,462,9242018Assets 2019: $5,522,283Liabilities 2019: $1,876,776Net Assets 2019: $3,645,5072019Assets 2020: $5,034,606Liabilities 2020: $1,784,799Net Assets 2020: $3,249,8072020Assets 2021: $4,905,170Liabilities 2021: $1,546,655Net Assets 2021: $3,358,5152021Assets 2022: $4,804,046Liabilities 2022: $1,481,539Net Assets 2022: $3,322,5072022Assets 2023: $4,664,076Liabilities 2023: $1,438,176Net Assets 2023: $3,225,9002023Assets 2024: $4,561,031Liabilities 2024: $1,388,740Net Assets 2024: $3,172,2912024

Highlighted filing

2024

Assets$4,561,031
Liabilities$1,388,740
Net Assets$3,172,291

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2016: $435,844Expenses 2016: $360,038Net Income 2016: $75,8062016Revenue 2017: $547,536Expenses 2017: $350,080Net Income 2017: $197,4562017Revenue 2018: $754,647Expenses 2018: $386,425Net Income 2018: $368,2222018Revenue 2019: $515,153Expenses 2019: $378,988Net Income 2019: $136,1652019Revenue 2020: $219,373Expenses 2020: $293,684Net Income 2020: -$74,3112020Revenue 2021: $417,476Expenses 2021: $333,217Net Income 2021: $84,2592021Revenue 2022: $487,695Expenses 2022: $325,280Net Income 2022: $162,4152022Revenue 2023: $410,560Expenses 2023: $335,793Net Income 2023: $74,7672023Revenue 2024: $214,303Expenses 2024: $348,651Net Income 2024: -$134,3482024

Highlighted filing

2024

Revenue$214,303
Expenses$348,651
Net Income-$134,348

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 25, 2025
Return Version
2024v5.1
Gross Receipts
$214,303
Mission and Program Overview

Mission

This building corporation was created for the sole purpose of holding legal title to real estate located at 721 main street, monroe, ct 06468 and any other property that may be acquired, to operate as a meeting hall, local headquarters, training facility and for other purposes for the sole benefit of the labor organization known as local no. 488 international brotherhood of electrical workers (ein: 06-0400910).

This building corporation was created for the sole purpose of holding legal title to real estate located at 721 main street, monroe, ct 06468 and any other property that may be acquired, to operate as a meeting hall, local headquarters, training facility and other purposes for the sole benefit of the labor organization known as local no. 488 international brotherhood of electrical workers (ein: 06-0400910).

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,382,730$4,277,868▼ $104,862
Pd in Cap Srpls Land Bldg Eqp Fund$3,225,900$3,172,291▼ $53,609
Savings and Temporary Cash Investments$225,163$225,162▼ $1
Cash and Non-Interest-Bearing Accounts$56,183$58,001▲ $1,818
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$4,664,076$4,561,031▼ $103,045
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,429,205$1,379,769▼ $49,436
Other Liabilities$8,971$8,971→ $0
Total Liabilities$1,438,176$1,388,740▼ $49,436
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,225,900$3,172,291▼ $53,609
Total Liabilities and Net Assets / Fund Balance$4,664,076$4,561,031▼ $103,045

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,152,622$1,458,701$4,611,323
Land$1,119,043-$1,119,043
Other Land Buildings$6,203$156,361$162,564
Compensation and Service Providers

Board Members and Trustees

NameTitle
Stephen J RodriguesPresident
Travis E GeraldVice President
Amil C LockwoodExec Board
George MeierExec Board
Jenn NormandExec Board
John FotopoulosExec Board
John J GulinoExec Board
Kevin DuboisExec Board
Peter MarinExec Board
Robert NitscheExec Board
Daniel W McinerneyBusiness Manager/fin Sec
Jerome WhiteRecording Secretary
Anthony CavalliTreasurer
William T ColeTreasurer (p)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$201,787
Investment Income
$2,078
Other Revenue
$10,438
Change in Net Assets
$-134,348
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$348,651
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$137,235
Depreciation Depletion---$122,145
Interest---$86,271
Fees for Services Accounting---$3,000
Total Functional Expenses$0$0$0$348,651
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit Payable$8,971
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Members in good standing of local union no. 488 international brotherhood of electrical workers are members of the corporation.

Form 990, Part VI, Section A, Line 7A

The board of directors shall consist of the officers, including the executive board, of local union no. 488 international brotherhood of electrical workers, who are elected by the members.

Form 990, Part VI, Section B, Line 11B

The organization's form 990 is prepared by the independent accountant. The form is then presented to the members of the governing body for their review and approval prior to filing.

Form 990, Part VI, Section C, Line 19

The organization makes copies of its governing documents and financial statements available upon telephone or written request.

Filing and Contact Details

Filer

Filer Name
Local Union 488 Ibew Building
EIN
26-1560789
Phone
2034527679
Address
721 MAIN STREET ROUTE 25, MONROE, CT 06468

Signing Officer

Name
Stephen J Rodrigues
Title
President
Phone
2034527679
Signed
2025-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen J Rodrigues
Formed
2007
Legal Domicile
Ct
Voting Board Members
13
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
Novak Francella LLC
Address
40 MONUMENT RD 5TH FLR, BALA CYNWYD, PA 19004
Preparer
Louis Verzella CPA
Phone
6106689400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Transfer to union transfer from union 80,739.

FORM 990, PART XII, LINE 1:

The local union 488 ibew, building corporation's financial statements were prepared using the modified cash basis of accounting.

FORM 990, PART XII, LINE 2C:

The organization's governing body is responsibe for overseeing the financial statement audit and selection of the independent accountant performing the audit. This process has not changed from prior year.

Financial Statement Notes

PART X, LINE 2:

Management is required to evaluate tax positions taken by the local and to recognize a tax liability if the local has taken an uncertain position that, more likely than not, would not be sustained upon examination by the u.s. Federal, state, or local taxing authorities. The local is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Typically, tax years will remain open for three years; however, this may differ depending upon the circumstances of the local.

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IRS990/PoliticalCampaignActyInd00
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IRS990/ProgramServiceRevenueGrp/Desc1MEMBERS' DUES AND ASSE
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IRS990/ReportOtherLiabilitiesInd01
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0156361
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT IS REQUIRED TO EVALUATE TAX POSITIONS TAKEN BY THE LOCAL AND TO RECOGNIZE A TAX LIABILITY IF THE LOCAL HAS TAKEN AN UNCERTAIN POSITION THAT, MORE LIKELY THAN NOT, WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE U.S. FEDERAL, STATE, OR LOCAL TAXING AUTHORITIES. THE LOCAL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. TYPICALLY, TAX YEARS WILL REMAIN OPEN FOR THREE YEARS; HOWEVER, THIS MAY DIFFER DEPENDING UPON THE CIRCUMSTANCES OF THE LOCAL.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalLiabilityAmt08971
IRS990ScheduleJ/EquityBasedCompArrngmInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1121968
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2102794
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt144406
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt239472
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DANIEL W MCINERNEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1ANTHONY CAVALLI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2JEROME WHITE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0BUSINESS MANAGER/FIN SEC
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2RECORDING SECRETARY
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS IN GOOD STANDING OF LOCAL UNION NO. 488 INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS ARE MEMBERS OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS SHALL CONSIST OF THE OFFICERS, INCLUDING THE EXECUTIVE BOARD, OF LOCAL UNION NO. 488 INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS, WHO ARE ELECTED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S FORM 990 IS PREPARED BY THE INDEPENDENT ACCOUNTANT. THE FORM IS THEN PRESENTED TO THE MEMBERS OF THE GOVERNING BODY FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES COPIES OF ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON TELEPHONE OR WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TRANSFER TO UNION TRANSFER FROM UNION 80,739.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE LOCAL UNION 488 IBEW, BUILDING CORPORATION'S FINANCIAL STATEMENTS WERE PREPARED USING THE MODIFIED CASH BASIS OF ACCOUNTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION'S GOVERNING BODY IS RESPONSIBE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT PERFORMING THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 1:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0LOCAL NO 488 INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1IBEW LOCAL 488- JATC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2IBEW LOCAL 488 CHARITY FUND INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3IBEW LOCAL 488 LABOR MANAGEMENT COOPERATION TRUST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0060400910
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1060976668
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2881093874
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN3462805810
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(5)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(5)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501(C)(5)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1CT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2CT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3CT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LABOR UNION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1APPRENTICE TRAINING COMMITTEE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2CHARITABLE ORGANIZATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3LABOR ORGANIZATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0721 MAIN STREET ROUTE 25
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1721 MAIN STREET ROUTE 25
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2721 MAIN STREET ROUTE 25
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt3721 MAIN STREET ROUTE 25
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MONROE

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