Carrier-Ila Container Royalty Fund No 5
- Assets
- $149.7m
- Revenue
- $118.2m
- Investments
- $138.7m
- Employees
- 0
- Location
- Lyndhurst, NJ
- Founding
- 04/2011
- Data as of
- 12/2021
- EIN
- 27-6318504
Organization Overview
Carrier-Ila Container Royalty Fund No 5 is located in Lyndhurst, NJ. The organization was established in 2011. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carrier-Ila Container Royalty Fund No 5 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, Carrier-Ila Container Royalty Fund No 5 generated $118.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $89.9m 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEFITS ASSISTANCE - ASSISTANCE FOR LOCAL PORT ASSOCIATIONS. TO PROVIDE FINANCIAL ASSISTANCE TO THE JOINT MANAGEMENT ILA EMPLOYEE BENEFIT PLANS (OTHER THAN PENSION PLANS) IN THE LOCAL PORTS OR DISTRICTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Adam Co-Chair | OfficerTrustee | 1 | $0 |
Stephen Knott Co-Chair | OfficerTrustee | 1 | $0 |
Alan Robb Trustee | Trustee | 1 | $0 |
Kurt Mittenzwei Trustee | Trustee | 1 | $0 |
Anissa Frucci Trustee | Trustee | 1 | $0 |
Wilbert Rowell 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 | $116,349,624 |
| Investment income | $1,762,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,820 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,236,691 |
| 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 | $89,417,428 |
| 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 | $225,000 |
| Fees for services: Legal | $47,833 |
| Fees for services: Accounting | $9,704 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $141,301 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20,520 |
| All other expenses | $2,594 |
| Total functional expenses | $89,864,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,561 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,887,573 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $950,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,710 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $138,711,606 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $149,668,450 |
| Accounts payable and accrued expenses | $136,454 |
| 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 | $15,854,073 |
| Total liabilities | $15,990,527 |
| Net assets without donor restrictions | $133,677,923 |
| 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 | $149,668,450 |
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