The Mail Handler magazine Fall 2017

Page 33

NATIONAL POSTAL MAIL HANDLERS UNION

A DIVISION OF LABORERS’ INTERNATIONAL UNION OF NORTH AMERICA, AFL-CIO DECEMBER 31, 2016 AND 2015 ASSETS

STATEMENTS OF ACTIVITIES 2016

2015

CURRENT ASSETS Cash and cash equivalents

$800,313

$555,919

32,078

33,575

Accounts receivable — other

1,887,069

1,749,543

Tax refunds receivable

1,351,449

1,335,100

61,740

55,062

Accounts receivable — local unions

Interest receivable Loans to local unions

25,000

92,921

Prepaid expenses

216,609

206,521

4,374,258

4,028,641

140,110

134,217

21,288,026

25,285,836

LONG‑TERM RECEIVABLES Loans to local unions

REVENUE Per capita assessments Member per capita Associate per capita MHBP service fee Investment income National Billing Program Royalties Rental income Sale of promotional items Miscellaneous

INVESTMENTS Marketable securities — at fair value FIXED ASSETS Furniture, fixtures and equipment Automobiles Leasehold improvements Accumulated depreciation and amortization

1,958,613

1,844,699

49,822

49,822

291,600

291,600

2,300,035

2,186,121

(1,500,718)

(1,405,248)

799,317

780,873

OTHER ASSETS Inventory of promotional items

23,448

58,672

209,447

165,688

232,895

224,360

$26,834,606

$30,453,927

2016

2015

Accounts payable and accrued expenses

$3,218,402

$2,521,941

Dues collected for local unions

561,746

118,592

Deferred dues revenue

216,227

46,924

113,621

13,621

4,109,996

2,801,078

181,142

294,764

9,377

9,377

1,517,452

1,160,721

Deposits TOTAL ASSETS

LIABILITIES AND NET ASSETS CURRENT LIABILITIES

Deferred rent abatement LONG‑TERM LIABILITIES Deferred rent abatement Security deposit — sublease Net unfunded pension liability TOTAL LIABILITIES UNRESTRICTED NET ASSETS TOTAL LIABILITIES AND NET ASSETS

1,707,971

1,464,940

5,817,967

4,265,940

21,016,639

26,187,987

$26,834,606

$30,453,927

EXPENSES Per capita taxes Salaries and wages Payroll taxes and employee benefits Revenue Sharing Program Income and property taxes Automobile and housing Bank charges Charitable contributions Computer services Conferences Convention Depreciation and amortization Election Insurance and bonding Leased equipment Meetings and conferences Miscellaneous Office supplies and postage Printing and publications Professional fees Promotional items Rent Repairs and maintenance Scholarships Telephone Travel and lodging DEFICIENCY OF REVENUE OVER EXPENSES Pension‑related changes other than net periodic pension cost DECREASE IN NET ASSETS UNRESTRICTED NET ASSETS AT BEGINNING OF YEAR UNRESTRICTED NET ASSETS AT END OF YEAR

2016

2015

$6,743,898 1,053,132 7,797,030 5,614,332 325,494 154,162 602,678 138,296 17,554 24,161 14,673,707

$5,805,169 1,115,199 6,920,368 5,554,644 213,129 159,719 611,718 131,573 26,675 261,484 13,879,310

2,549,818 3,696,855 2,308,133 2,074,312 1,630,724 138,498 52,157 106,843 64,434 39,127 2,286,956 95,470 116,043 43,674 35,251 452,203 111,138 209,882 583,117 1,094,565 28,027 795,508 42,633 48,000 101,136 509,952 19,214,456

2,467,828 3,629,651 2,195,212 2,052,030 1,504,217 123,229 57,721 147,158 60,960 1,999 4,297 110,187 — 46,751 35,498 792,387 51,403 258,558 581,708 962,222 43,063 779,701 37,249 55,500 105,180 682,364 16,786,073

(4,540,749)

(2,906,763)

(630,599) (5,171,348)

(413,146) (3,319,909)

26,187,987

29,507,896

$21,016,639

$26,187,987

The Mail Handler • Fall 2017 | 33


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The Mail Handler magazine Fall 2017 by National Postal Mail Handlers Union - Issuu