National Ironworkers and Employers Apprenticeship Training and Journeyman Upgrad

“Officers/directors eric dean, kevin bryenton, james mahoney, david osborne, and lee worley serve as general president, 2nd general vice president, general treasurer, 9th general vice president, and executive director of international association of bridge, structural, ornamental and reinforcing iron workers.”

“The union and employer trustees are respectively determined by each side separately.”

“No committees with authority to act on behalf of the governing board.”

“The board of trustees is provided a draft copy of the form 990 for their review prior to signature and submission to the internal revenue service.”

“The executive director is compensated by the organization through its payments to iabsoriw for lease employees to the fund. The salary for the executive director is set by iabsoriw with no input by the filing organization.”

“The Fund does not make its governing documents, conflict of interest policy and financial statements available to the public.”

“$71,562 represents the amount calculated by the plan actuary as to the increase in actuarial value in defined benefits. This amount reported does not constitute actual outlays of compensation to the officer.”

“The organization, a multiemployer, collectively-bargained program, was established under sec 302(c) of the labor management relations act of 1974 by an agreement between the international association of bridge, structural, ornamental and reinforcing iron workers and the ironworkers contractors association. The program ensures that union ironworkers have the skills, knowledge, and training necessary to be safe on the jobsite and competitive in the workplace. The organization provides training, leadership, and accreditation to uphold union values and the principles of service and professionalism.”

“The national ironworkers & employers apprenticeship training and journeyman upgrading fund utilize the employees of a unrelated organization, which are reported under the unrelated organization's name and federal employer identification number.”

“The financial statements are prepared using the modified cash basis of accounting. The modified cash basis of accounting differs from accounting principles generally accepted in the United States of America ("U.S. GAAP") primarily because certain revenues are recognized when received rather than when earned and certain expenses are recognized when paid rather than when the obligation is incurred. Except for the capitalization and depreciation of property and equipment, transactions with related parties, and accrual of reimbursement basis grant revenue, all transactions are recognized as either revenue or expenses when cash is received or paid. U.S. GAAP requires operating leases of lessees to be capitalized through a right-of-use asset and a corresponding operating lease liability. The presentation under modified cash basis of accounting has no such requirement.”