Tongass Timber Trust
- Assets
- $5.7m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Mukilteo, WA
- Founding
- 08/1977
- Data as of
- 12/2021
- 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 12/2021, Tongass Timber Trust generated $5.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Owen Graham Trust Administrator | Officer | 20 | $19,999 |
Keaton Gildersleeve Chairman Of The Board | OfficerTrustee | 0 | $0 |
George Baggen Trustee | Trustee | 0 | $0 |
Jerry Larrabee Trustee | Trustee | 0 | $0 |
Linda Lewis Trustee | Trustee | 0 | $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 | $5,789,240 |
| Investment income | $53,748 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$42,707 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,800,281 |
| 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 | $4,778,616 |
| Compensation of current officers, directors, key employees. | $19,999 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,628 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,336 |
| Payroll taxes | $16,074 |
| Fees for services: Management | $234,395 |
| Fees for services: Legal | $11,727 |
| Fees for services: Accounting | $49,484 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,730 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,754 |
| Information technology | $211 |
| Royalties | $0 |
| Occupancy | $417 |
| 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 | $34,409 |
| All other expenses | $4,228 |
| Total functional expenses | $5,219,008 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,579,172 |
| Savings and temporary cash investments | $200,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,318 |
| 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 | $13,785 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,884,481 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,273 |
| Total assets | $5,700,029 |
| Accounts payable and accrued expenses | $9,138 |
| Grants payable | $0 |
| Deferred revenue | $39,691 |
| 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 | $48,829 |
| Net assets without donor restrictions | $5,651,200 |
| 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 | $5,700,029 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Board Of Trustees Agc Trust Of Montana Spokane, WA | $18,871,331 | $11,144,345 |
Wattis Dumke Foundation Inc Ketchum, ID | $124,566 | $75,918 |
Tongass Timber Trust Mukilteo, WA | $5,700,029 | $5,800,281 |
The Dalai Lama Foundation Shoreline, WA | $6,300,895 | $851,528 |
Carrico Family Foundation Medford, OR | $33,120,720 | $4,067,868 |
One Call For All Bainbridge Island, WA | $2,280,086 | $2,720,804 |
Laidir Foundation Seattle, WA | $43,862,995 | $7,463,532 |
The Berwick Degel Family Foundation Seattle, WA | $7,563,453 | $2,078,571 |
Martin Fabert Foundation Seattle, WA | $16,791,263 | $328,208 |
Austin Family Foundation Newberg, OR | $30,047,559 | $1,660,315 |
Bellarmine Benefactors Trust Spokane, WA | $24,555,171 | $2,993,701 |
Carrie Lewith Charitable Trust Bainbridge Island, WA | $11,195,908 | $406,477 |