Carrier-Ila Container Royalty Fund No 5 is located in Lyndhurst, NJ. The organization was established in 2011. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carrier-Ila Container Royalty Fund No 5 is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2023, Carrier-Ila Container Royalty Fund No 5 generated $114.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $87.3m during the year ending 09/2023. 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
THE FUND PROVIDES FINANCIAL ASSISTANCE TO JOINT MANAGEMENT ILA EMPLOYEE BENEFIT PLANS (OTHER THAN PENSION) IN LOCAL PORTS OR DISTRICTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEFITS ASSISTANCE - ASSISTANCE FOR LOCAL PORT ASSOCIATIONS. TO PROVIDE FINANCIAL ASSISTANCE TO THE JOINT MANAGEMENT ILA EMPLOYEE BENEFIT PLANS (OTHER THAN PENSION PLANS) IN THE LOCAL PORTS OR DISTRICTS.
BENEFITS ASSISTANCE - ASSISTANCE FOR LOCAL PORT ASSOCIATIONS. TO PROVIDE FINANCIAL ASSISTANCE TO THE JOINT MANAGEMENT ILA EMPLOYEE BENEFIT PLANS (OTHER THAN PENSION PLANS) IN THE LOCAL PORTS OR DISTRICTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stephen Knott Co-Chair | OfficerTrustee | 1 | $0 |
Dennis Daggett Trustee | Trustee | 1 | $0 |
Benny Holland Trustee | Trustee | 1 | $0 |
Alan Robb Trustee | Trustee | 1 | $0 |
Wilbert Rowell Trustee | Trustee | 1 | $0 |
David F Adam Co-Chair | OfficerTrustee | 1 | $0 |
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 | $113,690,922 |
Investment income | $6,062,902 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$5,444,309 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $114,348,609 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $86,708,439 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $225,000 |
Fees for services: Legal | $16,512 |
Fees for services: Accounting | $13,033 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $259,027 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $330 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $22,557 |
All other expenses | $0 |
Total functional expenses | $87,270,222 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $243,345 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $10,717,294 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $1,587,195 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $6,916 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $238,655,895 |
Total assets | $251,210,645 |
Accounts payable and accrued expenses | $153,467 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $63,416,293 |
Total liabilities | $63,569,760 |
Net assets without donor restrictions | $187,640,885 |
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 | $251,210,645 |