ABSTRACT
Federal law requires that unions make extensive financial and other informational disclosures to their members and the public. The US Department of Labor (DOL) compiles these reports and makes the data available to the public, broadening accessibility through online public disclosures. To comply with the Labor-Management Reporting and Disclosure Act (LMRDA) of 1959, unions periodically file disclosure forms with the DOL, including the LM-2, which reports extensively on the unions’ balance sheets, income statements, and sundry financial transactions and obligations. We examine the disclosure requirements of the numerous reporting forms, focusing especially on the LM-2. The chapter then turns to specify the financial measures we cover, including those on assets, liabilities, revenues, and disbursements. We conclude with a review of how to analyze the LM-2 reports in order to assess the financial position of a union and how such information is useful to understanding how to deal with unions a bargaining counterparts or interest-group competitors.
