LOCAL UNION 2222 IBEW BUILDING CORPORATION

EIN: 061727206

QUINCY, MA

Total Revenue
$15,321
Total Expenses
$2,500
Total Assets
$847,020
Net Assets
$847,020
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
MA
Principal Officer
EDWARD V HASTINGS PRESIDENT
Phone
6179296000
Tax Period
2020-01-01 to 2020-12-31

LOCAL UNION 2222 IBEW BUILDING CORPORATION, founded in 2004, is a micro nonprofit that reported $15K in total revenue in fiscal year 2020. Revenue fell 98% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $13K, a strong 84% operating margin.

Mission

THE BUILDING CORPORATION WAS ESTABLISHED BY LOCAL UNION 2222, IBEW FOR THE PURPOSE OF HOLDING REAL ESTATE FOR THE USE AND PURPOSE OF THE LOCAL. THE BUILDING CORPORATION PURCHASED THE PROPERTY AT 1137 WASHINGTON STREET, DORCHESTER, MASSACHUSETTS AND WAS FINANCED BY A MORTGAGE FROM LOCAL UNION 2222. OFFICE SPACE WAS LEASED BY LOCAL UNION 2222.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $15,321
Other Revenue $0
TOTAL REVENUE $15,321

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,500
Other Expenses $2,500
TOTAL EXPENSES $2,500

Year-over-Year Comparison

2020 2019 Change
Revenue $15,321 $904,638 -1.0%
Expenses $2,500 $31,385 -0.9%
Net Income $12,821 $873,253 -1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
25

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$341,482
Total Directors
13
$537,314
Key Employees
1
$171,067
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN P TOOMEY BOARD OF DIRECTOR/BUSINESS AGENT 0.5
Director Key Emp
$0 $7,878 $171,067
EDWARD V HASTINGS BOARD OF DIRECTORS/PRESIDENT 0.5
Officer Director
$0 $7,732 $168,836
KEVIN J HOLLAND BOARD OF DIRTECTOR/VICE PRESIDENT 0.5
Officer Director
$0 $7,404 $160,432
PAUL G ENGLISH BOARD OF DIRECTOR/TREASURER 0.5
Officer Director
$0 $0 $8,665
JULIO J DELACRUZ BOARD OF DIRECTOR 0.5
Director
$0 $0 $6,197
KEITH R BONASORO BOARD OF DIRECTOR 0.5
Director
$0 $0 $4,138
STEPHEN M LYONS BOARD OF DIRECTOR/RECORDING SECRETARY 0.5
Officer Director
$0 $0 $3,549
ROBERT J CINELLI BOARD OF DIRECTOR 0.5
Director
$0 $0 $2,958
JANELLE QUINN BOARD OF DIRECTOR 0.5
Director
$0 $0 $2,671
FRANCIS E HERNON BOARD OF DIRECTOR 0.5
Director
$0 $0 $2,612
JOHN A COLLERAN BOARD OF DIRECTOR 0.5
Director
$0 $0 $2,269
JOHN T SODERLUND BOARD OF DIRECTOR 0.5
Director
$0 $0 $2,131
ROBERT J KEATING BOARD OF DIRECTOR 0.5
Director
$0 $0 $1,789
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2020 $15,321 $2,500 $847,020 $12,821
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