Nonprofit · EIN 23-7040036
EDUCATION FUND LOCAL 580
Tax-exempt · NEW YORK, NY 10036
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,409,408 | $3,936,506 | $472,902 | $42,891,452 | $147,536 | $42,743,916 |
| December 31, 2023 | 990 | $4,417,151 | $3,637,019 | $780,132 | $42,513,509 | $212,376 | $42,301,133 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $2,995,053
- Investment income
- $1,206,910
- Net gain from sales of assets
- -$112,839
- Other revenue
- $207,445
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $347,426
- Other salaries and wages
- $1,176,128
- Salaries, compensation and benefits (total)
- $1,974,778
- Professional fundraising fees
- $0
- Legal fees
- $117,260
- Accounting fees
- $50,114
- Occupancy
- $317,937
- Travel
- $8,184
- Depreciation
- $18,218
- Program services (functional)
- $2,627,193
- Management and general (functional)
- $1,309,313
Balance sheet and other
- Total assets, start of year
- $42,513,509
- Total assets, end of year
- $42,891,452
- Total liabilities, end of year
- $147,536
- Net assets, end of year
- $42,743,916
- Land, buildings and equipment
- $51,106
- Publicly traded securities
- $29,005,939
- Gross receipts
- $34,676,789
- Employees
- 22
- Volunteers
- 0
- Year formed
- 1969
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RICHARD M FALASCA | DIRECTOR OF EDUCATION Officer | 0 | $0 | $201,686 | $145,740 |
| BRENDAN TORMEY | FUND ADMINISTRATOR Key employee | 2 | $0 | $182,337 | $127,842 |
| NOEL QUINONES | INSTRUCTOR Highest-paid employee | 45 | $187,074 | $0 | $101,445 |
| JOSEPH ROONEY | INSTRUCTOR Highest-paid employee | 45 | $177,557 | $0 | $103,434 |
| JOSEPH NOLAN | UNION TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| THOMAS MILTON | UNION TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| KEVIN MCKEON | UNION TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| PETER CARRIERO | EMPLOYER TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| RANDALL MENT | EMPLOYER TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| RANDALL RIFELLI | EMPLOYER TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| JOSEPH MAFFEI | UNION TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| STEVE DONOFRIO | UNION TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| EARL DUNN | UNION TRUSTEE - THRU 12/24 Trustee or director | 2 | $0 | $0 | $0 |
| ENRIQUE MARCANO | UNION TRUSTEEE - EFF 12/24 Trustee or director | 2 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RICHARD M FALASCA | DIRECTOR OF EDUCATION Officer | 57 | $0 | $198,707 | $141,709 |
| BRENDAN TORMEY | FUND ADMINISTRATOR Key employee | 2 | $0 | $180,112 | $124,306 |
| NOEL QUINONES | INSTRUCTOR Highest-paid employee | 45 | $183,743 | $0 | $99,445 |
| JOSEPH ROONEY | INSTRUCTOR Highest-paid employee | 45 | $170,486 | $0 | $97,516 |
| ADRIAN PADRO | INSTRUCTOR Highest-paid employee | 45 | $140,024 | $0 | $0 |
| PETER MYERS | UNION TRUSTEE - THRU 10/23 Trustee or director | 2 | $0 | $0 | $0 |
| JOHN CUMBERLAND | UNION TRUSTEE - THRU 2/23 Trustee or director | 2 | $0 | $0 | $0 |
| JOSEPH NOLAN | UNION TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| THOMAS MILTON | UNION TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| KEVIN MCKEON | UNION TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| PETER CARRIERO | EMPLOYER TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| RANDALL MENT | EMPLOYER TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| RANDALL RIFELLI | EMPLOYER TRUSTEE Trustee or director | 2 | $0 | $0 | $0 |
| JOSEPH MAFFEI | UNION TRUSTEE Trustee or director | 45 | $0 | $0 | $0 |
| STEVE DONOFRIO | UNION TRUSTEE - EFF 2/23 Trustee or director | 2 | $0 | $0 | $0 |
| EARL DUNN | UNION TRUSTEE - EFF 10/23 Trustee or director | 2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 501 W 42ND ST, NEW YORK, NY 10036-6205
- Principal officer (990 for 2024)
- BRENDAN TORMEY, 501 WEST 42ND STREET, NEW YORK, NY 10036
- Signed the 990
- JOSEPH NOLAN, UNION TRUSTEE
- Phone
- (212) 695-5206
- Return prepared by
- SCHULTHEIS & PANETTIERI LLP
Mission
TO OPERATE TRAINING AND EDUCATION PROGRAMS FOR APPRENTICES OF LOCAL 580 AND TO GIVE RETRAINING AND ADDITIONAL TRAINING TO JOURNEYMEN OF LOCAL 580.
Program accomplishments
- TO OPERATE TRAINING AND EDUCATION PROGRAMS FOR APPRENTICES OF LOCAL 580 AND TO GIVE RETRAINING AND ADDITIONAL TRAINING TO JOURNEYMEN OF LOCAL 580.Expenses $2,627,193
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7040036
- Tax-exempt status
- 501(c)(5): Labor, agricultural or horticultural organization
- Donations deductible
- No
- Exempt since
- 1969
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $42,891,452
- Income (IRS master file)
- $34,676,789
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,409,408 | $3,936,506 | $42,891,452 | XML |
| 990 | December 2023 | $4,417,151 | $3,637,019 | $42,513,509 | XML |
| 990 | December 2022 | $4,285,268 | $3,572,446 | $41,465,615 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7040036).
Questions about EDUCATION FUND LOCAL 580
- What is the EIN of EDUCATION FUND LOCAL 580?
- The employer identification number (EIN) of EDUCATION FUND LOCAL 580 is 23-7040036.
- Is EDUCATION FUND LOCAL 580 tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(5) since 1969.
- Are donations to EDUCATION FUND LOCAL 580 tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does EDUCATION FUND LOCAL 580 file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of EDUCATION FUND LOCAL 580 due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did EDUCATION FUND LOCAL 580 last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of EDUCATION FUND LOCAL 580?
- The 990 for the year ended December 31, 2024 names BRENDAN TORMEY.
- Who are the officers and directors of EDUCATION FUND LOCAL 580?
- The 990 for the year ended December 31, 2024 lists 14 people; 2 received compensation from the organization.
- How much revenue does EDUCATION FUND LOCAL 580 have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,409,408, expenses of $3,936,506 and total assets of $42,891,452 at year end.
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