Carrier-Ila Container Royalty Fund No 5

Organization Overview

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
Stephen Knott
Co-Chair
$0
Dennis Daggett
Trustee
$0
Benny Holland
Trustee
$0
Alan Robb
Trustee
$0
Wilbert Rowell
Trustee
$0
David F Adam
Co-Chair
$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$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

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