Tongass Timber Trust
- Assets
- $6.6m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Mukilteo, WA
- Founding
- 08/1977
- Data as of
- 12/2023
- EIN
- 92-0062073
Organization Overview
Tongass Timber Trust is located in Mukilteo, WA. The organization was established in 1977. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tongass Timber Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Tongass Timber Trust generated $5.5m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $5.0m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 9 years. 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
A WELFARE BENEFIT PLAN FOR MEMBERS OF THE TIMBER INDUSTRY IN THE STATE OF ALASKA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLAN HAS SERVED AS A WELFARE BENEFIT PLAN HOLDING COMPANY FOR THE TIMBER INDUSTRY OF ALASKA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keaton Gildersleeve Chairman Of The Board | OfficerTrustee | 1 | $0 |
George Baggen Trustee | Trustee | 1 | $0 |
Jerry Larrabee Trustee | Trustee | 1 | $0 |
Linda Lewis Trustee | Trustee | 1 | $0 |
Leo Gellings Trustee | Trustee | 1 | $0 |
Laurie Pool Trustee | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,329,473 |
| Investment income | $125,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,453,413 |
| 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 | $4,650,983 |
| Compensation of current officers, directors, key employees. | $23,428 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,921 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,204 |
| Fees for services: Management | $232,280 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,439 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,385 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,700 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,131 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $35,788 |
| All other expenses | $0 |
| Total functional expenses | $5,015,259 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,283,372 |
| Savings and temporary cash investments | $200,000 |
| 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 | $14,602 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,092,319 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,604 |
| Total assets | $6,609,897 |
| Accounts payable and accrued expenses | $10,687 |
| Grants payable | $0 |
| Deferred revenue | $186,328 |
| 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 | $197,015 |
| Net assets without donor restrictions | $6,412,882 |
| 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 | $6,609,897 |