Elevator Industry Work Preservation Fund
- Assets
- $81.2m
- Revenue
- $29.2m
- Investments
- $0.0
- Employees
- 27
- Location
- Columbia, MD
- Founding
- 01/1998
- Data as of
- 06/2022
- EIN
- 52-2051811
Organization Overview
Elevator Industry Work Preservation Fund is located in Columbia, MD. The organization was established in 1998. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2022, Elevator Industry Work Preservation Fund employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elevator Industry Work Preservation Fund is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2022, Elevator Industry Work Preservation Fund generated $29.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $25.2m during the year ending 06/2022. While expenses have increased by 11.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND ADMINISTERS A LABOR-MANAGEMENT COOPERATION COMMITTEE. THE EXEMPT PURPOSE OF THIS FUND IS TO IMPROVE LABOR-MANAGEMENT RELATIONS, ECONOMIC DEVELOPMENT, AND OTHER COMMUNICATIONS BETWEEN LABOR AND MANAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND ADMINISTERS A LABOR-MANAGEMENT COOPERATION COMMITTEE. THE EXEMPT PURPOSE OF THIS FUND IS TO IMPROVE LABOR-MANAGEMENT RELATIONS, ECONOMIC DEVELOPMENT, AND OTHER COMMUNICATIONS BETWEEN LABOR AND MANAGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank J Christensen Trustee | Trustee | 1 | $0 |
James K Bender II Trustee | Trustee | 1 | $0 |
Larry J Mcgann Trustee | Trustee | 1 | $0 |
R Allen Spears National Director | Officer | 50 | $287,544 |
Michael D Morand Asstant Nat'l Director | Officer | 50 | $230,631 |
James M Demmel National Coordinator | 45 | $225,187 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
O'donoghue & O'donoghue Llp Legal | 6/29/19 | $109,027 |
Professional Sports Publication Advertising | 6/29/19 | $108,500 |
International Union Of Elevator Construc Rent | 6/29/19 | $103,584 |
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 | $27,790,879 |
| Investment income | $32,260 |
| 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 | $29,193,872 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500,000 |
| 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. | $3,772,731 |
| Compensation of current officers, directors, key employees. | $3,772,731 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,568,099 |
| Pension plan accruals and contributions | $419,386 |
| Other employee benefits | $295,502 |
| Payroll taxes | $259,815 |
| Fees for services: Management | $15,000 |
| Fees for services: Legal | $49,970 |
| Fees for services: Accounting | $42,965 |
| Fees for services: Lobbying | $960,407 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $446,795 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $312,510 |
| Travel | $41,313 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,056 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,383 |
| Insurance | $44,004 |
| All other expenses | $158,717 |
| Total functional expenses | $25,150,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,524,837 |
| Savings and temporary cash investments | $71,014,966 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,646,840 |
| 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 | $48,184 |
| Net Land, buildings, and equipment | $157,679 |
| Investments—publicly traded securities | $885,165 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,892,218 |
| Total assets | $81,169,889 |
| Accounts payable and accrued expenses | $10,099,997 |
| Grants payable | $2,940,000 |
| 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 | $0 |
| Total liabilities | $13,039,997 |
| Net assets without donor restrictions | $68,129,892 |
| 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 | $81,169,889 |