Sherrys Shippers Association Inc
- Assets
- $47.9k
- Revenue
- $148.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, TN
- Founding
- Data as of
- 12/2021
- EIN
- 83-2605317
Organization Overview
Sherrys Shippers Association Inc is located in Arlington, TN. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sherrys Shippers Association 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 12/2021, Sherrys Shippers Association Inc generated $148.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (53.8%) each year. All expenses for the organization totaled $554.5k during the year ending 12/2021. 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
SHERRY'S SHIPPERS ASSOCIATION WAS ESTABLISHED TO PROMOTE COMMON BUSINESS INTERESTS WITHIN THE OCEAN CARRIER TRANSPORTATION INDUSTRY ON BEHALF OF ITS MEMBERS THROUGH COLLECTIVE NEGOTIATION TO ENSURE COST EFFECTIVENESS AND EQUITABLE TRADE FOR THE INDUSTRY AS A WHOLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES CONSIST OF NEGOTIATING AND MANAGING TRANSPORATION SERVICES ON BEHALF OF ITS BENEFICIAL CARGO OWNER MEMBER SHIPPERS WITH OCEAN CARRIER TRANSPORTATION COMPANIES THAT ARE RETAINED TO TRANSPORT PRODUCTS BEING SHIPPED TO THE UNITED STATES ON BEHALF OF FOREIGN MANUFACTURERS AND OTHER FOREIGN SHIPPERS. THE CORPORATION SHALL ENGAGE IN SUCH OTHER ACTIVITIES REQUIRED TO ACTIVELY ENHANCE AND IMPROVE THE OCEAN SHIPPING AND IMPORT/EXPORT TRADE INDUSTRIES, INCLUDING THE MONITORING OF LEGISLATIVE, REGULATORY NOTICES, AND RELATED ACTIVITIES ASSOCIATED WITH THE OCEAN SHIPPING INDUSTRY, INCLUDING, BUT NOT LIMITED TO, PERIODIC UPDATES TO ITS MEMBERS AND OTHER INTERESTED INDUSTRY PARTICIPANTS, TO BE PROVIDED VIA VARIOUS MEDIA FORMATS, WHICH MAY INCLUDE BLOG POSTS, NEWSLETTER ARTICLES, WEBINARS, AND IN-PERSON SEMINARS TO FURTHER EDUCATE INDUSTRY PARTICIPANTS ABOUT CHANGES IN THE INDUSTRY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Bales Secretary | Officer | 2 | $0 |
Clive Wu President | Officer | 2 | $0 |
Irving Dwight Barker Jr Director | Trustee | 2 | $0 |
Antao Chien Director | Trustee | 2 | $0 |
John Kent Shelton Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sherry's Supply Chain & Finance Manageme Management & Administrative Services | 12/30/21 | $295,504 |
Bluex Trade Inc Shipping Referral & Related Services | 12/30/21 | $116,843 |
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 | $148,255 |
| Investment income | $0 |
| 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 | $148,255 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $295,504 |
| Fees for services: Legal | $2,320 |
| Fees for services: Accounting | $13,508 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $116,843 |
| Advertising and promotion | $0 |
| Office expenses | $429 |
| Information technology | $3,192 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $120,266 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $554,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,676 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,250 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $47,926 |
| Accounts payable and accrued expenses | $215,225 |
| 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 | $10,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,502,981 |
| Other liabilities | $0 |
| Total liabilities | $2,728,206 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $10,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$2,690,280 |
| Total liabilities and net assets/fund balances | $47,926 |
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