LM-2 financial statements and service trail

FY2024 sector report and source limits

This page transcribes and explains the preserved sector LM-2, file 000-376, report 896722, covering June 1, 2023–May 31, 2024. All page references are physical PDF pages, counted from one. The public PDF retains 83 core pages; complete attachments and current amendment history are not established.

Open the preserved FY2024 LM-2 PDF · Official DOL report · Return to funding, dues and annual history

Parent CWA is a separate filer, 000-188. Its saved FY2024 print stops inside Schedule 15. Parent payments, sector expenses and council receipts can overlap; do not add them into a combined cost or subsidy total.

Annual source coverage

The main finance page retains the annual history with qualifications. Missing bodies are not entered as zero.

Statement A — assets and liabilities

“Blank in source” preserves the displayed cell and is distinct from a reported $0. Schedule 8, p12, separately totals ending accounts payable at $0. Treasury securities are separate from Item 26 investments.

Sources: Statement A, p3; investments, p9; accounts payable, p12; other liabilities, p14.

Statement B — receipts and disbursements

Cash reconciles: $688,958 opening cash + $28,334,445 receipts − $29,013,403 disbursements = $10,000 closing cash. Withheld and disbursed payroll deductions each total $92,343, so the net withholding adjustment is zero; Item 67c is displayed blank.

Treasury securities plus separately reported investments rose by $1,535,376 to $10,476,855. Net assets increased $734,372 (8.82%). The $10,000 cash balance alone does not establish insolvency or unrestricted access to those investments.

Schedule 10 labels all $1,444,406 ending liabilities as amounts held for strike funds. That identifies a fund-holding obligation rather than bank borrowing or overdue vendor debt. Fund restrictions and withdrawal terms still need to be established.

Statement B includes $1,587,624 net investment purchases. Schedules 3–4 exclude $9,697,071 of reinvestments on both sides. Cash disbursements, changes in net assets and operating results are different measures; gross investment trades must not be added again to the reported totals.

Sources: Statement A, p3; Statement B, p4; investment sales, p7; purchases, p8; strike-fund liabilities, p14.

The $0 dues line does not mean members paid no dues; affiliate funding is in Schedule 14. Functional categories describe the filer’s allocation, not service quality or outcomes.

CWA and Working Voices transactions

CWA receipts total $27,166,633; selected outgoing blocks total $1,946,263. They include routed funding, contributions, rent, reserves and unspecified remainders; do not net them into merger value.

Underlying services, original fee payer and identity with parent CWA remain unresolved. Itemized dates and purposes are in the transaction CSV.

Named sector law-firm payments

These five Schedule 15 blocks total $592,417, including nonitemized amounts where reported. This is not the complete legal function or evidence of additional parent-funded assistance. Itemized entries generally concern legal review/contract enforcement.

Bloomberg Industry Group is separately reported at $65,230 for legal research. Ultimate funding and reimbursements require a matched service/ledger trail.

Selected professional-service and related counterparty blocks

These 30 selected blocks preserve reported classifications and itemized/nonitemized amounts. They include administrative, program, bank and settlement entries so those are not mistaken for advanced advice. A block total is already within its functional category; blank component fields are preserved.

Feldman Strategies has separate Schedule 15 and 19 blocks. FADAP consultants have a distinct program context. The escrow entry is a Miami Air settlement, not an attorney fee. A nonitemized amount does not identify an engagement, date or delivered service.

Download block totals · Download transactions

Sector specialists and a parent-reported campaign role

Each total includes more than salary alone and is entirely allocated to representation in the visible row. Sector staff amounts already enter functional totals. CWA employment under the merger agreement does not establish that the parent absorbed the cost beyond sector accounts.

The Tiffany Loftin row establishes a parent-reported sector campaign role. Ultimate allocation/reimbursement and any SIF 726 connection remain unresolved. The parent source is incomplete elsewhere, but this row is visible.

Sector Item 69 identifies a consolidated audit by Calibre CPA Group. It does not disclose an allocated sector audit fee.

Sources: Additional Information, p83; Appendix A staff provisions.

What the evidence says about parent services

SIF 726 supplies a specific answer to the service question. CWA’s 2025 Defense Fund Oversight Committee report identifies a funded corporate campaign researcher supporting CWA-AFA bargaining and organizing. It describes work concerning United, Delta and regional boarding pay. Its assessment of bargaining impact is the union’s own; the public summary gives no project budget, actual cost, named researcher, hours or reimbursement ledger.

Separately, parent FY2024 Schedule 12 reports Tiffany Loftin, CWA-AFA Senior Campaign Lead, with $131,191 gross salary and $14,977 official-business disbursements: $146,168 in total. The row is entirely allocated to representation. It does not establish a link to SIF 726 or that the parent ultimately absorbed the whole cost. The saved parent print stops inside Schedule 15; this staff row is fully visible.

Shared services also have a cost side. The 2023 CWA Finance Committee described an agreement with CWA-AFA that increased the parent’s FY2023–24 budget other income by $1 million for shared services. This is budgeted parent revenue, not a reconciled receipt. The 2024 committee then described reviewing shared expenditures with sector Secretary-Treasurer Dante Harris.

The parent’s $1 million shared-services budget addition and the sector’s separate $1 million of CWA contribution receipts run in opposite directions and have different descriptions. Matching amounts do not establish the same transaction, an offset or net merger value.

Sources: 2025 DFOC report, pp4 and 8; parent FY2024 Schedule 12, p50; 2023 proceedings, p118; 2024 Finance Committee, p2.

• SIF 726: obtain the authorization, account code, budget, actual ledger, staff/vendor allocations, reimbursement, deliverables and evaluations. DFOC directs members seeking an SIF report to the Secretary-Treasurer’s office.
• Shared services: obtain the executed agreement, amendments, department/service schedule, allocation formula, invoices and reciprocal settlements.
• Specialist work: identify the matter, department/provider, dates, nonprivileged work description, billed/allocated cost and ultimate payer. Examine payment metadata without disclosing confidential legal advice.
• Reserves and consolidated accounts: reconcile ownership, withdrawal restrictions, investment earnings, fees and elimination entries before treating a transfer as a cost or benefit.
• 2026 execution: compare the revised budget, rebate records and actual surplus use with the adopted authority; seek corrected reports and accounting-system reconciliations.

Download the reviewed source data

CSV fields include period, reporting entity, original purpose/classification where applicable, source URL and physical page. Blank source amounts are kept blank.

• FY2024 Statements A and B
• FY2024 selected counterparty blocks
• FY2024 selected transactions and remainders
• FY2024 specialist/campaign staff
• FY2023–25 annual history with status
• Council identity and source-status crosswalk

The data retain reporting boundaries. They are not a complete audit, a sum of parent and sector costs, or a valuation of merger outcomes.