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← ASSOCIATED INDUSTRIES OF ARKANSAS FOUNDATION INC

Form 990 for tax year 2022

Filed by ASSOCIATED INDUSTRIES OF ARKANSAS FOUNDATION INC.

Totals

Total revenue
$2,354,361
Total expenses
$1,716,091
Contributions and grants received
$2,083,691
Grants paid
$0
Program service revenue
$186,985
Investment income
$82
Other revenue
$83,603
Total assets, end of year
$1,864,565
Total liabilities, end of year
$547,161
Net assets or fund balances, end of year
$1,317,404
Program services expenses (Part IX)
$1,201,264
Management and general expenses
$514,827
Fundraising expenses
$0
Program service expenses (Part III)
$1,201,264

Program services were 70.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $637,650

  • 1f · All other contributions, gifts and grants

    $1,446,041

  • 2a · Program service revenue: CONFERENCES & MEETINGS REVENUE

    total $136,985 · related or exempt $136,985

  • 2b · Program service revenue: JAG PROGRAM REVENUE

    total $50,000 · related or exempt $50,000

  • 3 · Investment income

    total $82 · excluded $82

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: REIMBURSEMENTS

    total $79,603 · excluded $79,603

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $4,000 · excluded $4,000

  • 11e · Other revenue, total

    $83,603

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $410,714 · program services $287,500 · management and general $123,214

  • 11b · Fees: legal

    total -$3,518 · program services -$2,463 · management and general -$1,055

  • 11c · Fees: accounting

    total $4,893 · program services $3,425 · management and general $1,468 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $177,704 · program services $124,393 · management and general $53,311 · fundraising $0

  • 12 · Advertising and promotion

    total $129,220 · program services $90,454 · management and general $38,766

  • 13 · Office expenses

    total $21,066 · program services $14,746 · management and general $6,320

  • 14 · Information technology

    total $25,682 · program services $17,977 · management and general $7,705

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,112 · program services $778 · management and general $334

  • 17 · Travel

    total $46,417 · program services $32,492 · management and general $13,925

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $572,196 · program services $400,538 · management and general $171,658

  • 20 · Interest

    total $7,884 · program services $5,519 · management and general $2,365

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $5,285 · program services $3,700 · management and general $1,585

  • 24a · Other expenses: RESEARCH & DEVELOPMENT

    total $284,554 · program services $199,188 · management and general $85,366

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $6,561 · program services $4,593 · management and general $1,968

  • 24c · Other expenses: MEALS

    total $13,076 · program services $9,153 · management and general $3,923

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $2,953 · program services $2,067 · management and general $886

  • 24e · All other expenses

    total $10,292 · program services $7,204 · management and general $3,088

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $113,256 · end of year $93,271

  • 2 · Savings and temporary cash investments

    beginning of year $49,367 · end of year $19,087

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $195,500

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $1,556,707

  • 10c · Land, buildings and equipment, net

    beginning of year $814,532 · end of year $1,556,707

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,249 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $153,900 · end of year $222,500

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $150,341 · end of year $324,661

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $651,665 · end of year $1,317,404

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

FOUNDED IN 1991, THE ASSOCIATED INDUSTRIES OF ARKANSAS FOUNDATION IS A BUSINESS-LED, SOLUTIONS DEVELOPMENT AND RESEARCH ORGANIZATION, WORKING IN PARTNERSHIP WITH STATE BUSINESS LEADERS AND GOVERNMENT OFFICIALS TO ADVANCE PUBLIC KNOWLEDGE AND UNDERSTANDING OF ECONOMICS & FINANCE, EDUCATION & CAREER TRAINING, HOUSING & HUMAN RELATIONS, SCIENCE & TECHNOLOGY, DOMESTIC & INTERNATIONAL RELATIONS, ISSUES CONTRIBUTING TO A RISING QUALITY OF LIFE, AS WELL AS OTHER SUBJECTS RELATED TO IMPROVING EFFICIENCY, DEVELOPMENT AND ACCELERATION OF ECONOMIC GROWTH AND EMPLOYMENT OPPORTUNITIES.

Activities or mission (Part I)

SEE EXPLANATION ON SCHEDULE O

  • SINCE 2015, THE AIA FOUNDATION HAS RESEARCHED, DEVELOPED AND LAUNCHED BE PRO BE PROUD, AN EFFORT DESIGNED TO CHANGE PUBLIC PERCEPTIONS OF SKILLED PROFESSIONS WITHIN THE MANUFACTURING, CONSTRUCTION, UTILITY AND TRANSPORTATION INDUSTRIES ACROSS ARKANSAS. TO DATE, THE EFFORT HAS RAISED OVER $4 MILLION FROM PUBLIC, PRIVATE AND CHARITABLE SOURCES AND HAS ENGAGED WITH OVER 115,000 MIDDLE AND HIGH SCHOOL STUDENTS ACROSS THE STATE TO PROMOTE HIGH-DEMAND, HIGH-WAGE PROFESSIONAL OPPORTUNITIES WITHIN THESE SECTORS. IMPACTS RELATED TO THESE EFFORTS INCLUDE INCREASED EMPLOYMENT WITHIN TARGETED FIELDS AS WELL AS INCREASED ENROLLMENTS - SIGNIFICANT IN SOME PLACES - IN POST-SECONDARY TECHNICAL PROGRAMS ON TWO-YEAR CAMPUSES.

    Expenses $1,201,264 · Revenue $186,985

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • RANDY ZOOK

    PRESIDENT

    Total calculated
    $419,659
    From this org
    $0
    From related orgs
    $384,594
    Other
    $35,065
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $284,594 related
    Bonus
    $0 + $100,000 related
    Other
    $0
    Deferred
    $0 + $11,184 related
    Nontaxable benefits
    $0 + $23,881 related
    Filer's total
    $0 + $419,659 related

  • KENNETH HALL

    SECRETARY

    Total calculated
    $204,531
    From this org
    $0
    From related orgs
    $171,458
    Other
    $33,073
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $166,458 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $8,738 related
    Nontaxable benefits
    $0 + $24,335 related
    Filer's total
    $0 + $204,531 related

  • GARY HEAD

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CHRIS HART

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • GRADY HARVELL

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CHARISSE CHILDERS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KENNETH CALHOUN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOEY DEAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BETH FRANKS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL GARNER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RANDY HENDERSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SHANNON SAMPLES NEWTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH QUINN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DREW TESSIER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEN ADAMS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323179349308392

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