Hampton Roads Shipping Association Ila Container Royalty Fund is located in Norfolk, VA. The organization was established in 1984. 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. As of 09/2021, Hampton Roads Shipping Association Ila Container Royalty Fund employed 2,156 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hampton Roads Shipping Association Ila Container Royalty Fund 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 09/2021, Hampton Roads Shipping Association Ila Container Royalty Fund generated $30.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $30.2m during the year ending 09/2021. While expenses have increased by 0.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPLEMENTAL CASH BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SUPPLEMENTAL UNEMPLOYMENT BENEFITS TO EMPLOYEES OF THE LONGSHOREMAN INDUSTRY AND PROTECTION FROM THE DECREASE OF EMPLOYMENT OPPORTUNITIES DUE TO THE USE OF CONTAINERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Steve Greene Administrator | Officer | 10.5 | $34,268 |
Roger J Giesinger Trustee | Trustee | 0.5 | $0 |
George H Brown Trustee | Trustee | 0.5 | $0 |
James Michalski Trustee | Trustee | 0.5 | $0 |
Erin Maley Trustee | Trustee | 0.5 | $0 |
Peter Cooke Trustee | Trustee | 0.5 | $0 |
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 | $30,280,529 |
Investment income | $12,141 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$3,500 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $30,289,535 |
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 | $29,575,433 |
Compensation of current officers, directors, key employees. | $40,346 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $206,483 |
Pension plan accruals and contributions | $19,459 |
Other employee benefits | $63,099 |
Payroll taxes | $17,762 |
Fees for services: Management | $0 |
Fees for services: Legal | $19,314 |
Fees for services: Accounting | $16,200 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,922 |
Advertising and promotion | $0 |
Office expenses | $122,191 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $40,347 |
Travel | $14 |
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 | $91,961 |
Insurance | $9,625 |
All other expenses | $13,705 |
Total functional expenses | $30,238,092 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $906,753 |
Savings and temporary cash investments | $35,836,254 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $4,563,800 |
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 | $765 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $41,307,572 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Other liabilities | $16,786,245 |
Total liabilities | $16,786,245 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $24,521,327 |
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 | $41,307,572 |
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