Civic Intelligence

Asbestos Workers International

EIN 52-2361362 • 501(c)2 • Lanham, MD

Profile

The purpose is to hold title to real property and collect income less expenses and turnover balance to a related exempt organization

9602 Martin Luther King HighwayLanham, MD 20706-1839

www.insulators.org

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

Higher debt load relative to assets than 32% of similar nonprofits.

501(c)2 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

33rd percentile

0.01x

Higher debt load relative to revenue than 33% of similar nonprofits.

501(c)2 • $1M-$5M nonprofits • Source year 2024

Net Margin

59th percentile

24%

Higher net margin than 59% of similar nonprofits.

501(c)2 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

95th percentile

$494,124

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 111.8% of source-year revenue.

501(c)2 • $1M-$5M nonprofits • Source year 2024

Asset Growth

92nd percentile

17%

Faster asset growth than 92% of similar nonprofits.

501(c)2 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

57th percentile

7.7%

Faster revenue growth than 57% of similar nonprofits.

501(c)2 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,380,953

Up $341,106 (+17%) from 2023

Liabilities

Down

$5,488

Down $12,948 (-70%) from 2023

Net Assets

Up

$2,375,465

Up $354,054 (+18%) from 2023

Revenue

Up

$441,999

Up $31,718 (+7.7%) from 2023

Expenses

Down

$337,945

Down $7,647 (-2.2%) from 2023

Net Income

Up

$104,054

Up $39,365 (+61%) from 2023

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2014: $1,218,474Liabilities 2014: $6,015Net Assets 2014: $1,212,4592014Assets 2016: $1,091,832Liabilities 2016: $18,256Net Assets 2016: $1,073,5762016Assets 2018: $1,006,408Liabilities 2018: $5,488Net Assets 2018: $1,000,9202018Assets 2019: $1,276,112Liabilities 2019: $5,488Net Assets 2019: $1,270,6242019Assets 2020: $1,533,146Liabilities 2020: $7,936Net Assets 2020: $1,525,2102020Assets 2021: $1,738,265Liabilities 2021: $5,488Net Assets 2021: $1,732,7772021Assets 2022: $1,887,210Liabilities 2022: $5,488Net Assets 2022: $1,881,7222022Assets 2023: $2,039,847Liabilities 2023: $18,436Net Assets 2023: $2,021,4112023Assets 2024: $2,380,953Liabilities 2024: $5,488Net Assets 2024: $2,375,4652024

Highlighted filing

2024

Assets$2,380,953
Liabilities$5,488
Net Assets$2,375,465

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2014: -$12,536Expenses 2014: $0Net Income 2014: -$12,5362014Revenue 2016: -$52,714Expenses 2016: $0Net Income 2016: -$52,7142016Revenue 2018: -$8,672Expenses 2018: $6,251Net Income 2018: -$14,9232018Revenue 2019: $203,378Expenses 2019: $51,483Net Income 2019: $151,8952019Revenue 2020: $472,693Expenses 2020: $218,106Net Income 2020: $254,5872020Revenue 2021: $434,322Expenses 2021: $226,755Net Income 2021: $207,5672021Revenue 2022: $443,305Expenses 2022: $294,360Net Income 2022: $148,9452022Revenue 2023: $410,281Expenses 2023: $345,592Net Income 2023: $64,6892023Revenue 2024: $441,999Expenses 2024: $337,945Net Income 2024: $104,0542024

Highlighted filing

2024

Revenue$441,999
Expenses$337,945
Net Income$104,054

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 10, 2025
Return Version
2024v5.0
Gross Receipts
$441,999
Mission and Program Overview

Mission

The purpose is to hold title to real property and collect income less expenses and turnover balance to a related exempt organization

SEE STATEMENT 4

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,895,278$2,231,379▲ $336,101
Savings and Temporary Cash Investments$73,357$72,801▼ $556
Cash and Non-Interest-Bearing Accounts$50,000$49,411▼ $589
Prepaid Expenses and Deferred Charges$18,488$16,322▼ $2,166
Total Assets$2,039,847$2,380,953▲ $341,106
Other Assets Total$2,724$11,040▲ $8,316
Liabilities
Accounts Payable and Accrued Expenses$12,948$0▼ $12,948
Other Liabilities$5,488$5,488→ $0
Total Liabilities$18,436$5,488▼ $12,948
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,021,411$2,375,465▲ $354,054
Total Net Assets Fund Balance$2,021,411$2,375,465▲ $354,054
Total Liabilities and Net Assets / Fund Balance$2,039,847$2,380,953▲ $341,106

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,934,274$1,134,449$3,068,723
Land$200,702-$200,702
Equipment$96,403$50,671$147,074
Other Land Buildings$0$4,612$4,612
Compensation and Service Providers

Board Members and Trustees

NameTitle
Terrance LarkinPresident
Robert ReapSecretary-treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$424,909
Investment Income
$1,654
Other Revenue
$15,436
Change in Net Assets
$104,054
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$337,945
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---$218,809
Depreciation Depletion---$109,986
Fees for Services Accounting---$6,000
Office Expenses---$3,150
Total Functional Expenses$0$0$0$337,945
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$5,488
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 B, Line 11B

The 990 is presented to the secretary-treasurer and his administrative assistant for review prior to being submitted.

Form 990, Part VI, Section C, Line 19

The organization publishes its financial statements annually in the newsletter that is issued at the time the audit reports are released. Additionally, union handbooks are issued after convention years that contain the policies, procedures and bylaws of the organization.

Filing and Contact Details

Filer

Filer Name
Asbestos Workers International
EIN
52-2361362
Phone
3017319101
Address
9602 MARTIN LUTHER KING HIGHWAY, LANHAM, MD 20706-1839

Signing Officer

Name
Robert Reap
Title
General Secretary-treasurer
Phone
3017319101
Signed
2025-03-10

Organization Details

Principal Officer
Terrance Larkin
Formed
2002
Legal Domicile
Md
Voting Board Members
2
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

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

Additional Explanations

FORM 990, PART XI, LINE 9:

Assets released from restriction interfund transfer 250,000.

FORM 990, PART XII, LINE 2C:

The organization's governing body is responsible for the oversight of its consolidated financial statement audit and for the selection of the independent accountant.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the association and to recognize a tax liability if the association 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 association 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 association.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ASSOCIATION AND TO RECOGNIZE A TAX LIABILITY IF THE ASSOCIATION 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 ASSOCIATION 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 ASSOCIATION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS PRESENTED TO THE SECRETARY-TREASURER AND HIS ADMINISTRATIVE ASSISTANT FOR REVIEW PRIOR TO BEING SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION PUBLISHES ITS FINANCIAL STATEMENTS ANNUALLY IN THE NEWSLETTER THAT IS ISSUED AT THE TIME THE AUDIT REPORTS ARE RELEASED. ADDITIONALLY, UNION HANDBOOKS ARE ISSUED AFTER CONVENTION YEARS THAT CONTAIN THE POLICIES, PROCEDURES AND BYLAWS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ASSETS RELEASED FROM RESTRICTION INTERFUND TRANSFER 250,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING BODY IS RESPONSIBLE FOR THE OVERSIGHT OF ITS CONSOLIDATED FINANCIAL STATEMENT AUDIT AND FOR THE SELECTION OF THE INDEPENDENT ACCOUNTANT.
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3INSULATION INDUSTRIES INTERNATIONAL APPRENTICE & TRAINING FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4TISSUE BANK ASBESTOS RESEARCH CHARITABLE TRUST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5INSULATORS INTERNATIONAL NON-FEDERAL PAC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6ASBESTOS WORKERS POLITICAL ACTION FUND
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD

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