Industrial Areas Foundation
- Assets
- $1.8m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 07/1941
- Data as of
- 12/2021
- EIN
- 36-2334627
Organization Overview
Industrial Areas Foundation is located in Chicago, IL. The organization was established in 1941. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Industrial Areas Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Industrial Areas Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Industrial Areas Foundation generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IAF LEADERS AND ORGANIZERS FIRST CREATE INDEPENDENT ORGANIZATIONS, MADE UP OF PEOPLE FROM ALL RACES AND ALL CLASSES, FOCUSED ON PRODUCTIVE IMPROVEMENTS IN THE PUBLIC ARENA. IAF MEMBERS THEN USE THOSE NEW POLITICAL REALITIES TO INVENT AND ESTABLISH NEW SOCIAL REALITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT, TRAINING AND CONVENTIONS SERVING SPONSORING ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernesto Cortes Jr Co-Director | Officer | 40 | $180,000 |
Martin Trimble Co-Director | Officer | 40 | $160,000 |
Joe Rubio Co-Director | Officer | 40 | $80,000 |
Georgianna Gleason Board Chair | OfficerTrustee | 1 | $0 |
Bishop Joel N Martinez Secretary | OfficerTrustee | 1 | $0 |
Robert J Moriarty Treasurer | OfficerTrustee | 1 | $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 | $480,965 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $480,965 |
| Total Program Service Revenue | $1,547,414 |
| Investment income | $39,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,067,796 |
| 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 | $856,143 |
| Compensation of current officers, directors, key employees. | $420,000 |
| Compensation of current officers, directors, key employees. | $27,623 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,530 |
| Pension plan accruals and contributions | $93,096 |
| Other employee benefits | $42,036 |
| Payroll taxes | $32,909 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,369 |
| Fees for services: Accounting | $19,586 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,954 |
| Advertising and promotion | $0 |
| Office expenses | $7,198 |
| Information technology | $9,417 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $32,891 |
| 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 | $4,942 |
| All other expenses | $0 |
| Total functional expenses | $1,666,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $772,514 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,334 |
| 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 | $36,058 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $738,780 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $196,898 |
| Total assets | $1,849,584 |
| Accounts payable and accrued expenses | $22,426 |
| Grants payable | $0 |
| Deferred revenue | $51,587 |
| 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 | $0 |
| Total liabilities | $74,013 |
| Net assets without donor restrictions | $1,325,571 |
| Net assets with donor restrictions | $450,000 |
| 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 | $1,849,584 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Union Executives Society Madison, WI | $8,321,099 | $11,726,194 |
Sauget Sanitary Development & Research Association Sauget, IL | $2,077,489 | $11,379,905 |
World Council Of Credit Unions Inc Madison, WI | $4,821,097 | $12,974,167 |
Indiana Statewide Association Of Rural Electrics Cooperatives Inc Indianapolis, IN | $6,936,351 | $8,918,869 |
Missouri One-Call Systems Inc Jefferson City, MO | $6,160,776 | $7,371,611 |
Wisconsin Credit Union League Inc Madison, WI | $8,422,290 | $3,629,838 |
Indiana Credit Union League Indianapolis, IN | $12,146,566 | $3,384,464 |
Amalgamated Social Benefits Association Chicago, IL | $4,079,204 | $2,494,451 |
Wisconsin Rural Water Association Inc Plover, WI | $3,269,363 | $2,411,727 |
Power Transmission Distributors Association Chicago, IL | $2,682,932 | $2,007,433 |
Industrial Areas Foundation Chicago, IL | $1,849,584 | $2,067,796 |
Brs Burlington Northern Santa Fe Bnsf General Committee Walker, MO | $1,461,875 | $1,004,555 |