Iron Workers, Local 7
Basic Information
Local 7
Financial Information
The Labor-Management Reporting and Disclosure Act (LMRDA), which is enforced by the Office of Labor-Management Standards, requires labor unions to file annual reports detailing their operations. Contained in those reports are breakdowns of each union's spending, income and other financial information.
Basic Financials
| Total Assets | $23,836,996 |
| Total Liabilities | $902,006 |
| Total Income | $15,576,324 |
| Total Spent | $13,849,928 |
Total Assets Trend
Assets (Change from previous report)
| Cash | $18,515,161 (+10.3%) |
| Accounts Receivable | $963,983 (+27.1%) |
| Investments | $2,486,412 (-9.6%) |
| Fixed Assets | $1,756,123 (-9.6%) |
| Treasury Securities | $0 (0.0%) |
| Other Assets | $115,317 (-33.5%) |
| Loans Receivable | $0 (0.0%) |
Income
| Dues | $4,179,149 |
| Per Person Tax | $0 |
| Investments | $0 |
| Supplies | $0 |
| Loan Repayment | $0 |
| Interest | $29,147 |
| Dividends | $0 |
| Rents | $0 |
| Fees and Fines | $10,675,309 |
| Loans Obtained | $0 |
| Other Receipts | $597,119 |
| Affiliates | $95,600 |
| Members | $0 |
| Reinvestments | $103,297 |
| All Others | $49,037 |
Source: Office of Labor Management Standards
Year Covered: 2022 • Last Updated: June 12th, 2023
Spending
The Office of Labor-Management Standards (OLMS) requires unions to report how they spent their money in a number of categories. For the first five, OLMS requires unions to provide detailed information on any recipient that received more than $5,000 per year.
Total Spent in 2022
$13,849,928
Spending Overview
Spending Breakdown
| Representational | $1,841,321 (13.29%) |
| Political Activities and Lobbying | $483,760 (3.49%) |
| Contributions, Gifts, and Grants | $381,619 (2.76%) |
| General Overhead | $657,228 (4.75%) |
| Union Administration | $301,067 (2.17%) |
| Strike Benefits | $63,000 (0.45%) |
| To Union Officers | $1,497,176 (10.81%) |
| To Union Employees | $100,048 (0.72%) |
| Education | $0 (0.00%) |
| Fees | $0 (0.00%) |
Search All Spending
Source: Office of Labor Management Standards
Year Covered: 2022 • Last Updated: June 12th, 2023
Membership
Total Members
3,739
Income per Member
$4,166
Dues (per month)
$36
Membership Trend
| Year | Members |
|---|---|
| 2002 | 2,700 |
| 2003 | 3,200 |
| 2004 | 2,700 |
| 2005 | 2,980 |
| 2006 | 2,858 |
| 2007 | 3,244 |
| 2008 | 3,219 |
| 2009 | 3,157 |
| 2010 | 3,046 |
| 2011 | 2,937 |
| 2012 | 3,380 |
| 2013 | 3,092 |
| 2014 | 2,967 |
| 2015 | 3,016 |
| 2016 | 3,060 |
| 2017 | 3,132 |
| 2018 | 3,549 |
| 2019 | 3,472 |
| 2020 | 3,500 |
| 2021 | 3,637 |
| 2022 | 3,739 |
Source: Office of Labor Management Standards
Year Covered: 2022 • Last Updated: June 12th, 2023
Leaders & Salaries
Average Total Compensation
$66,252
Total Employees
34
Employees Making more than $75,000
11
Top Ten Highest Paid Leaders
| Name | Title | Total Compensation |
|---|---|---|
| MICHAEL HESS | BUSINESS MANAGER | $201,736 |
| DANIEL MORGANELLI | BUSINESS AGENT | $191,089 |
| WALTER BELMONTE JR | BUSINESS AGENT | $186,845 |
| STEPHEN WILLIAMS | BUSINESS AGENT | $186,434 |
| VINCENT COYLE | BUSINESS AGENT | $185,487 |
| MICHAEL DOUCETTE | FINANCIAL SEC/TREAS | $185,175 |
| KEVIN COLLINS | BUSINESS AGENT | $183,968 |
| FIORE GRASSETTI | BUSINESS AGENT | $155,512 |
| GRANT PROVOST | BUSINESS AGENT | $155,286 |
| WILLIAM HURLEY | FINANCIAL SEC/TREAS | $128,160 |
Source: Office of Labor Management Standards
Year Covered: 2022 • Last Updated: June 12th, 2023