The requirements for preparing Union financial reports is unique and complex. At our firm, we are familiar and adept at working with specialized Department of Labor filing needs.
The LM series of forms are required by the Labor Management Reporting and Disclosure Act, also known as LMRDA or the “Landrum-Griffin Act.” Our firm is experienced in the preparation of forms LM-1, LM-2, LM-3,LM-4, LM-10, and LM-30 from the Department of Labor Management.
These forms provide the public with pertinent information including the timing of the next union election, how many members the union has, the salaries of officers and staff, and other useful information, including: “whether the union has any subsidiary organizations; whether the union has a political action committee (PAC); whether the union discovered any loss or shortage of funds; rates of dues and fees; 7 asset categories such as cash and investments; 4 liability categories such as accounts payable and mortgages payable; 16 receipt categories such as dues and interest; 18 disbursement categories such as payments to officers and repayment of loans obtained; a schedule of payments to officers; a schedule of payments to employees; a schedule of office and administrative expense; a schedule of loans payable” and more.
