Iowa Laborers-Employers Cooperation And Education Trust
- Assets
- $2.0m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Des Moines, IA
- Founding
- 08/1995
- Data as of
- 12/2023
- EIN
- 42-1396859
Organization Overview
Iowa Laborers-Employers Cooperation And Education Trust is located in Des Moines, IA. The organization was established in 1995. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2023, Iowa Laborers-Employers Cooperation And Education Trust employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Laborers-Employers Cooperation And Education Trust is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2023, Iowa Laborers-Employers Cooperation And Education Trust generated $1.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 3.7% per year over the past 9 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
IMPROVE COMMUNICATIONS BETWEEN EMPLOYERS AND LOCAL UNIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNICATION BETWEEN EMPLOYERS AND LOCAL UNIONS THROUGH SEMINARS, PROGRAMS AND CONFERENCES TO PROMOTE COOPERATION AND DISCUSSION OF ISSUES CONCERNING THE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Penn Trustee | Trustee | 1 | $0 |
James Piazza Trustee | OfficerTrustee | 1 | $0 |
Danny Hemminger Trustee | Trustee | 1 | $0 |
Sam Renshaw Trustee | Trustee | 1 | $0 |
Douglas Reed Trustee | Trustee | 1 | $0 |
Tom Hayes Trustee | 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 | $7,950 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,950 |
| Total Program Service Revenue | $996,523 |
| Investment income | $1,769 |
| 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 | $1,351,762 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,950 |
| 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. | $166,351 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $228,096 |
| Pension plan accruals and contributions | $109,208 |
| Other employee benefits | $45,047 |
| Payroll taxes | $29,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $108 |
| Fees for services: Accounting | $37,045 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $60,000 |
| Advertising and promotion | $3,478 |
| Office expenses | $36,022 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $137,075 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,655 |
| Interest | $19,833 |
| Payments to affiliates | $66,959 |
| Depreciation, depletion, and amortization | $103,370 |
| Insurance | $31,694 |
| All other expenses | $5,004 |
| Total functional expenses | $1,257,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $278,466 |
| Savings and temporary cash investments | $616,601 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $110,692 |
| 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 | $25,842 |
| Net Land, buildings, and equipment | $849,238 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100,222 |
| Total assets | $1,981,061 |
| Accounts payable and accrued expenses | $43,981 |
| 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 | $532,589 |
| Other liabilities | $328,375 |
| Total liabilities | $904,945 |
| Net assets without donor restrictions | $1,076,116 |
| 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 | $1,981,061 |