Industrial Truck Association
- Assets
- $1.2m
- Revenue
- $2.8m
- Investments
- $50.0k
- Employees
- 6
- Location
- Washington, DC
- Founding
- 01/1954
- Data as of
- 12/2023
- EIN
- 25-1124211
Organization Overview
Industrial Truck Association is located in Washington, DC. The organization was established in 1954. According to its NTEE Classification (J99) the organization is classified as: Employment N.E.C., under the broad grouping of Employment and related organizations. As of 12/2023, Industrial Truck Association employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Industrial Truck Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Industrial Truck Association generated $2.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $2.9m during the year ending 12/2023. While expenses have increased by 1.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE STATISTICS, DEVELOP STANDARDS, NETWORKING OF SUPPLIERS AND THEIR CUSTOMERS (MANUFACTURERS) FOR THE INDUSTRIAL TRUCK MARKETPLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATISTICS--COLLECTION AND DISSEMINATION OF ACCURATE STATISTICAL INFORMATION RELATING TO THE POWERED INDUSTRIAL TRUCK AND TRACTOR (FORKLIFT) INDUSTRY.
AIR QUALITY--ADVICE AND COUNSEL REGARDING ALL AIR QUALITY REGULATIONS AFFECTING PRODUCTS PRODUCED BY ITA MEMBERS. ACT AS PRINCIPAL INDUSTRY SPOKESMAN AT HEARINGS AND NEGOTIATIONS WITH AGENCIES.TARRIFF --SUPPORTS LETTERS ADDRESSED TO THE US TRADE REPRESENTATIVE REQUESTING TO REINSTATE THE PREVIOUSLY EXTENDED EXCLUSION FOR SPECIFIC MATERIALS IMPORTED INTO THE US FOR ITA MEMBERS.
MEETINGS--SEMI-ANNUAL MEETINGS OF MEMBERS TO COMMUNICATE INFORMATION AND DISCUSS REGULATIONS AND DEVELOPMENTS IN THE INDUSTRY.
ENGINEERING--ENGINEERING ACTIVITIES RELATING TO DEVELOPMENT OF INTERNATIONAL STANDARDS, OPERATING PRACTICES, AND COLLECTION OF INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Wood First Vice Chairman | OfficerTrustee | 0.3 | $0 |
Jay Gusler Secretary | OfficerTrustee | 0.3 | $0 |
Chuck Pascarelli Chairman Of The Board | OfficerTrustee | 0.3 | $0 |
Jim Mozer Second Vice Chairman | OfficerTrustee | 0.3 | $0 |
Tony Jones Member | Trustee | 0.3 | $0 |
Dan Kossow Member | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,762,790 |
| Investment income | $1,465 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,792,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $147,676 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $463,524 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $575,676 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $104,183 |
| Payroll taxes | $57,502 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $680,913 |
| Fees for services: Accounting | $28,340 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $53,249 |
| Information technology | $19,222 |
| Royalties | $0 |
| Occupancy | $70,384 |
| Travel | $113,102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $500,303 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,516 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,861,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $999,264 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,080 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,946 |
| Net Land, buildings, and equipment | $29,392 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $50,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,530 |
| Total assets | $1,179,412 |
| Accounts payable and accrued expenses | $11,613 |
| Grants payable | $0 |
| Deferred revenue | $434,370 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,987 |
| Total liabilities | $491,970 |
| Net assets without donor restrictions | $687,442 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,179,412 |