International Brotherhood of Electrical Workers, Local 701
Basic Information
Local 701
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 | $6,987,972 |
| Total Liabilities | $286,670 |
| Total Income | $4,736,457 |
| Total Spent | $4,975,537 |
Total Assets Trend
Assets (Change from previous report)
| Cash | $1,172,769 (-16.9%) |
| Accounts Receivable | $225,298 (+0.0%) |
| Investments | $4,387,915 (+7.0%) |
| Fixed Assets | $191,427 (+7.0%) |
| Treasury Securities | $928,277 (+32.4%) |
| Other Assets | $82,286 (-13.1%) |
| Loans Receivable | $0 (0.0%) |
Income
| Dues | $2,974,036 |
| Per Person Tax | $0 |
| Investments | $1,233,068 |
| Supplies | $6,186 |
| Loan Repayment | $0 |
| Interest | $100,496 |
| Dividends | $56,893 |
| Rents | $0 |
| Fees and Fines | $6,353 |
| Loans Obtained | $0 |
| Other Receipts | $359,425 |
| Affiliates | $0 |
| Members | $0 |
| Reinvestments | $0 |
| All Others | $28,540 |
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
$4,975,537
Spending Overview
Spending Breakdown
| Representational | $421,905 (8.48%) |
| Political Activities and Lobbying | $0 (0.00%) |
| Contributions, Gifts, and Grants | $109,376 (2.20%) |
| General Overhead | $383,100 (7.70%) |
| Union Administration | $682,941 (13.73%) |
| Strike Benefits | $0 (0.00%) |
| To Union Officers | $116,413 (2.34%) |
| To Union Employees | $582,221 (11.70%) |
| 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
1,452
Income per Member
$3,262
Dues (per QUARTER)
$61.50/118.50
Membership Trend
| Year | Members |
|---|---|
| 2002 | 2,040 |
| 2003 | 2,021 |
| 2004 | 2,039 |
| 2005 | 2,006 |
| 2006 | 1,995 |
| 2007 | 1,971 |
| 2008 | 1,933 |
| 2009 | 1,892 |
| 2010 | 1,820 |
| 2011 | 1,775 |
| 2012 | 1,698 |
| 2013 | 1,675 |
| 2014 | 1,634 |
| 2015 | 1,609 |
| 2016 | 1,575 |
| 2017 | 1,584 |
| 2018 | 1,565 |
| 2019 | 1,533 |
| 2020 | 1,483 |
| 2021 | 1,452 |
Source: Office of Labor Management Standards
Year Covered: 2021 • Last Updated: June 12th, 2023
Leaders & Salaries
Average Total Compensation
$48,948
Total Employees
23
Employees Making more than $75,000
6
Top Ten Highest Paid Leaders
| Name | Title | Total Compensation |
|---|---|---|
| JOHN ROTI | MEMBERSHIP DEVELOPMENT | $159,449 |
| ROBERT PERREAULT | BUSINESS REPRESENTATIVE | $158,841 |
| FRANK GRAVINA | BUSINESS REPRESENTATIVE | $158,764 |
| FRANK FURCO | BUSINESS MANAGER/FIN. SEC | $157,583 |
| ANTHONY GIUNTI | ASSISTANT BUSINESS MGR | $152,277 |
| MATTHEW BANKS | COMPTROLLER | $102,686 |
| NICOLE MASON | OFFICE | $63,010 |
| KAREN DALY | OFFICE | $53,280 |
| RENEE TOKICH | OFFICE | $51,792 |
| KRISTY SCHILLACI | OFFICE | $36,210 |
Source: Office of Labor Management Standards
Year Covered: 2021 • Last Updated: June 12th, 2023