How to Get LM-2 Union Financial Statements
Unions covered
by the Labor Management Reporting and Disclosure Act are required to submit
annual financial statements to the US Department of Labor. These statements
provide basic information (click
here to find out what's on an LM-2, and what LM-3 and LM-4 are). LM-2
reports are public documents that you can distribute. LM-2 forms are now
online on the website of the US Department of Labor (www.dol.gov). Note:
the forms are searchable, this means you can look for all officers
earning over $100,000, for example, or for information about a particular
officer or employee of the union. You can also get information on union
Trusts and PACs. (To search use this link http://www.dol.gov/olms/regs/compliance/rrlo/lmrda.htm)
The LM-2s have been revised and the website has been revised too. There is a lot of information, but it takes more work to get it.
Here's how to find the LM-2 information for your union:
1. Go to this page (this link opens in a new window): http://kcerds.dol-esa.gov/query/getOrgQry.do
2. Select "union" then choose the union's Abbreviation (CWA for example), or enter the union's Affiliation (for example "Communications Workers AFL-CIO"), Organization Name ("Communications Workers of America"), Designation Name (whether it is a local, council, conference, etc.), Designation Number (the local or council number, say "Local 1101"), Unit Name (name of that particular unit), City ("New York") and State ("New York").
Most of the form blanks have drop down menus, so you can find the official name.
3. When you have put in the information, hit "submit." The search engine will open a new page with the unions and reports that match your search. You do not need to fill in all the fields to search.
4. Select the file you want to see and the type of report you are looking for. If you want to see salary information for officers and employees, select "Reports Specific to LM2s, LM3s, and T-1s; Officer/Employee Report."
5. NOTE: You may have to look at various reports to find the information you want. Also, be sure to check all the pages of a form, not just the page that comes up on your screen (look for the "Records Next" button on the upper right.) You can also download the information.
The LM-2 Form will tell you when the next union election is, how many members the union has, the salaries of officers and staff, andother 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; number of members; 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"
"The Form LM-2
has been revised, changing the reporting requirements as follows:
"Every labor organization subject to the LMRDA, CSRA, or FSA with
total annual receipts of $250,000 or more must file the revised Form LM-2
for the fiscal years beginning on or after July 1, 2004. The term "total
annual receipts" means all financial receipts of the labor organization
during its fiscal year, regardless of the source, including receipts of
any special funds. Receipts of a trust in which the labor organization
is interested should not be included in the total annual receipts of the
labor organization when determining which form to file unless the trust
is wholly owned, wholly controlled, and wholly financed by the labor organization."
What's an LM-3 form?
The LM-3, and LM-4 forms are simplified versions of the LM-2 for smaller unions.
Disclaimer: the information presented on this website is general and intended for educational purposes. It is not a substitute for practical legal advice on any specific situation.
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