Terralex Inc
- Assets
- $2.3m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 11
- Location
- Miami Lakes, FL
- Founding
- 04/1995
- Data as of
- 12/2023
- EIN
- 65-0189074
Organization Overview
Terralex Inc is located in Miami Lakes, FL. The organization was established in 1995. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Terralex Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Terralex Inc 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, Terralex Inc generated $3.3m 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 $3.2m during the year ending 12/2023. While expenses have increased by 2.7% 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
SEE SCHEDULE OTO HELP MEMBER FIRMS SERVE THEIR CLIENTS' LEGAL NEEDS AND BUSINESSINTERESTS BY DEVELOPING CLOSE WORKING RELATIONSHIPS WITHIN A WORLDWIDENETWORK OF QUALITY LAW FIRMS THAT MEET HIGH PROFESSIONAL STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS: TERRALEX HOSTS GLOBAL AND REGIONAL MEETINGS FOR MEMBERS. THESE MEETINGS INCLUDE EDUCATIONAL PROGRAMS; UPDATES BY LEADING EXPERTS; MEMBER COLLABORATION SESSIONS; BOARD MEETINGS; AND OTHER MEMBER OPPORTUNITIES.WEBINARS: TERRALEX PRODUCES WEBINARS TO PROMOTE THE THOUGHT LEADERSHIP OF ITS MEMBERS TO THE CLIENT COMMUNITY, TO AID MEMBERS IN MAKING CONNECTIONS AND GENERATING NEW BUSINESS.
WEBSITE AND TECHNOLOGY: TERRALEX MAINTAINS AND REGULARLY UPDATES AND DEVELOPS A WEBSITE AND MEMBER INTRANET (TLC) TO PROVIDE UPDATED INFORMATION AND OPPORTUNITIES FOR MEMBERS TO VIRTUALLY CONNECT AND COLLABORATE.
PUBLICATIONS: TERRALEX PROVIDES A VARIETY OF PUBLICATIONS TO INFORM, EDUCATE, AND UPDATE ITS MEMBERS, INCLUDING A WEEKLY EMAIL NEWSLETTER ("TERRALEX SPOTLIGHT"), AN ANNUAL REPORT, NEWSLETTERS, AND OTHER COMMUNICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derek Humphery-Smith Chair | OfficerTrustee | 2 | $0 |
Tim Brown Immediate Past Chair | OfficerTrustee | 2 | $0 |
Joan Roca Segarra Vice Chair | OfficerTrustee | 2 | $0 |
Rob Reedy Officer | OfficerTrustee | 2 | $0 |
Denise Alvarenga Officer | OfficerTrustee | 2 | $0 |
Rolf Andersen Officer | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Westin Grand Munich Hotel Facilities,food,a/v Equip.,office Rental | 12/30/15 | $164,948 |
Omni Nashville Hotel Facilities,food,a/v Equip.,office Rental | 12/30/15 | $147,690 |
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 | $3,283,572 |
| Investment income | $37,203 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$11,758 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,309,017 |
| 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. | $849,200 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $823,219 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $50,735 |
| Payroll taxes | $79,669 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,973 |
| Fees for services: Other | $46,252 |
| Advertising and promotion | $153,639 |
| Office expenses | $38,576 |
| Information technology | $141,823 |
| Royalties | $0 |
| Occupancy | $99,363 |
| Travel | $6,870 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $836,488 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,921 |
| Insurance | $21,968 |
| All other expenses | $7,750 |
| Total functional expenses | $3,227,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $969,303 |
| Savings and temporary cash investments | $3,008 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $107,245 |
| Investments—publicly traded securities | $1,234,828 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,000 |
| Total assets | $2,329,384 |
| Accounts payable and accrued expenses | $256 |
| 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 | $0 |
| Total liabilities | $256 |
| Net assets without donor restrictions | $0 |
| 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 | $2,329,128 |
| Total liabilities and net assets/fund balances | $2,329,384 |