Plumbers, Local 550
Basic Information
Local 550
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 | $3,764,830 |
| Total Liabilities | $120,168 |
| Total Income | $6,321,197 |
| Total Spent | $5,947,497 |
Total Assets Trend
Assets (Change from previous report)
| Cash | $2,558,681 (+17.1%) |
| Accounts Receivable | $546,029 (+32.2%) |
| Investments | $529,677 (0.0%) |
| Fixed Assets | $108,664 (0.0%) |
| Treasury Securities | $0 (0.0%) |
| Other Assets | $21,779 (+135.4%) |
| Loans Receivable | $0 (0.0%) |
Liabilities
| Loans Payable | $0 |
| Accounts Payable | $120,168 |
| Other Liabilities | $0 |
| Mortgages | $0 |
Income
| Dues | $2,237,762 |
| Per Person Tax | $0 |
| Investments | $0 |
| Supplies | $0 |
| Loan Repayment | $0 |
| Interest | $8,996 |
| Dividends | $0 |
| Rents | $0 |
| Fees and Fines | $3,802,274 |
| Loans Obtained | $0 |
| Other Receipts | $272,165 |
| Affiliates | $0 |
| Members | $0 |
| Reinvestments | $0 |
| All Others | $34,557 |
Source: Office of Labor Management Standards
Year Covered: 2021 • 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 2021
$5,947,497
Spending Overview
Spending Breakdown
| Representational | $3,408,307 (57.31%) |
| Political Activities and Lobbying | $203,916 (3.43%) |
| Contributions, Gifts, and Grants | $37,050 (0.62%) |
| General Overhead | $587,340 (9.88%) |
| Union Administration | $129,321 (2.17%) |
| Strike Benefits | $0 (0.00%) |
| To Union Officers | $364,384 (6.13%) |
| To Union Employees | $217,816 (3.66%) |
| Education | $0 (0.00%) |
| Fees | $0 (0.00%) |
Search All Spending
Source: Office of Labor Management Standards
Year Covered: 2021 • Last Updated: June 12th, 2023
Membership
Total Members
828
Income per Member
$7,634
Dues (per MONTH)
$31-$41
Membership Trend
| Year | Members |
|---|---|
| 2002 | 527 |
| 2003 | 553 |
| 2004 | 553 |
| 2005 | 597 |
| 2006 | 659 |
| 2007 | 640 |
| 2008 | 611 |
| 2009 | 599 |
| 2010 | 593 |
| 2011 | 584 |
| 2012 | 588 |
| 2013 | 599 |
| 2014 | 624 |
| 2015 | 650 |
| 2016 | 699 |
| 2017 | 725 |
| 2018 | 739 |
| 2019 | 803 |
| 2020 | 813 |
| 2021 | 828 |
Source: Office of Labor Management Standards
Year Covered: 2021 • Last Updated: June 12th, 2023
Leaders & Salaries
Average Total Compensation
$48,712
Total Employees
19
Employees Making more than $75,000
5
Top Ten Highest Paid Leaders
| Name | Title | Total Compensation |
|---|---|---|
| PETER GIBBONS | SEC-TREAS/BUSINESS MGR | $206,804 |
| MARK FORTUNE | BUSINESS AGENT | $195,154 |
| MATTHEW JONES | ORGANIZER | $193,262 |
| TERRENCE KERR | INTERNAL ACCOUNTANT | $136,713 |
| ROBIN GELBWACHS | SECRETARY | $105,542 |
| THERESE HOOPER | SECRETARY | $76,056 |
| MICHAEL BURNES | PRESIDENT | $3,998 |
| MICHAEL DYER | EXECUTIVE BOARD | $3,998 |
| MICHAEL GOMBERTS | VICE PRESIDENT | $3,998 |
| THOMAS BUCKLEY | INSIDE GUARD | $0 |
Source: Office of Labor Management Standards
Year Covered: 2021 • Last Updated: June 12th, 2023