Coin Laundry Association
- Assets
- $4.8m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 11
- Location
- Oakbrook Terrace, IL
- Founding
- 08/1962
- Data as of
- 12/2023
- EIN
- 36-2439458
Organization Overview
Coin Laundry Association is located in Oakbrook Terrace, IL. The organization was established in 1962. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Coin Laundry Association employed 11 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Coin Laundry 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, Coin Laundry Association generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 7 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
TO BE THE PREEMINENT RESOURCE IN THE LAUNDRY INDUSTRY BY PROVIDING LAUNDRY OPERATORS WITH THE CONNECTIVITY, ADVOCACY, EDUCATION AND UNBIASED INDUSTRY RESEARCH REQUIRED TO GROW GREAT BUSINESS OWNER/OPERATORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLANETLAUNDRY IS THE ASSOCIATION'S PRINT AND DIGITAL PUBLICATION TARGETED TO MORE THAN 10,500 MEMBERS AND POTENTIAL INVESTORS IN THE SELF-SERVICE LAUNDRY INDUSTRY EACH MONTH. THE PRINT MAGAZINE HAS BEEN EDUCATING THE INDUSTRY ON BEST PRACTICES FOR MORE THAN 25 YEARS; AND THE PLANETLAUNDRY WEBSITE (WWW.PLANETLAUNDRY.COM) WELCOMED NEARLY 72,000 UNIQUE VISITORS IN 2023 AFFORDING ACCESSS TO THE MOST CURRENT INFORMATION ON THE LAUNDRY INDUSTRY THROUGH NEWS, BLOGS, DISCUSSION BOARDS, PODCASTS AND MORE. THE PLANETLAUNDRY BRAND HAS BECOME SYNONYMOUS WITH EXCELLENCE IN PUBLISHING FOR THE SELF-SERVICE LAUNDRY INDUSTRY AND IS THE MOST WIDELY READ PUBLICATION IN THE INDUSTRY.
VARIOUS MEETINGS, WORKSHOPS AND CONFERENCES TO EDUCATE AND UPDATE MEMBERS AND OTHERS ON TOPICS RELATING TO THE COIN LAUNDRY INDUSTRY.
MEMBER SERVICES DEDICATED TO IMPROVING THE PROFITABILITY AND UNDERSTANDING OF THE COIN LAUNDRY AND DRYCLEANING INDUSTRY INCLUDING INDUSTRY MARKETING AND PROVIDING EDUCATIONAL MATERIALS
VARIOUS MEETINGS, WORKSHOPS AND CONFERENCES TO EDUCATE AND UPDATE MEMBERS AND OTHERS ON TOPICS RELATING TO THE COIN LAUNDRY INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ted Ristaino Immediate Past Chair | OfficerTrustee | 3.5 | $0 |
Brian Holland Chair | OfficerTrustee | 3.5 | $0 |
Robert E Maes Vice Chair | OfficerTrustee | 3.5 | $0 |
Dennis Diaz Treasurer | OfficerTrustee | 3.5 | $0 |
Neal Shapiro Director | Trustee | 1.5 | $0 |
Paul Hansen Director | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Walsworth Publishing Company Printing Services | 12/30/22 | $205,240 |
Creative Circle Llc Employment Agency | 12/30/22 | $109,272 |
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 | $331,535 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $331,535 |
| Total Program Service Revenue | $1,823,965 |
| Investment income | $136,669 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $208,321 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,487 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,569,815 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $290,157 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $710,162 |
| Pension plan accruals and contributions | $30,088 |
| Other employee benefits | $66,779 |
| Payroll taxes | $72,742 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,728 |
| Fees for services: Accounting | $32,896 |
| Fees for services: Lobbying | $96,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,945 |
| Fees for services: Other | $7,500 |
| Advertising and promotion | $199,036 |
| Office expenses | $81,604 |
| Information technology | $102,348 |
| Royalties | $0 |
| Occupancy | $49,717 |
| Travel | $18,666 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $618,507 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,417 |
| Insurance | $15,914 |
| All other expenses | $270 |
| Total functional expenses | $2,766,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $20,415 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,941 |
| 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 | $92,513 |
| Net Land, buildings, and equipment | $41,453 |
| Investments—publicly traded securities | $4,513,116 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $102,793 |
| Total assets | $4,808,231 |
| Accounts payable and accrued expenses | $80,400 |
| Grants payable | $0 |
| Deferred revenue | $267,797 |
| 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 | $172,139 |
| Total liabilities | $520,336 |
| Net assets without donor restrictions | $4,141,934 |
| Net assets with donor restrictions | $145,961 |
| 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 | $4,808,231 |