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← IOWA LABORERS-EMPLOYERS COOPERATION AND EDUCATION TRUST

Form 990 for tax year 2023

Filed by IOWA LABORERS-EMPLOYERS COOPERATION AND EDUCATION TRUST.

Totals

Total revenue
$1,351,762
Total expenses
$1,257,412
Contributions and grants received
$7,950
Grants paid
$7,950
Program service revenue
$996,523
Investment income
$1,769
Other revenue
$345,520
Total assets, end of year
$1,981,061
Total liabilities, end of year
$904,945
Net assets or fund balances, end of year
$1,076,116
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1f · All other contributions, gifts and grants

    $7,950

  • 2a · Program service revenue: EMPLOYER CONTRIBUTIONS

    total $989,323 · related or exempt $989,323

  • 2b · Program service revenue: LEASE INCOME

    total $7,200 · related or exempt $7,200

  • 3 · Investment income

    total $1,769 · excluded $1,769

  • 11a · Other revenue: ADMIN SERVICE FEES

    total $258,465 · related or exempt $258,465

  • 11b · Other revenue: REIMBURSED INCOME

    total $87,055 · related or exempt $87,055

  • 11e · Other revenue, total

    $345,520

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,950

  • 5 · Compensation of officers, directors and key employees

    total $166,351

  • 7 · Other salaries and wages

    total $228,096

  • 8 · Pension plan contributions

    total $109,208

  • 9 · Other employee benefits

    total $45,047

  • 10 · Payroll taxes

    total $29,723

  • 11b · Fees: legal

    total $108

  • 11c · Fees: accounting

    total $37,045

  • 11g · Fees: other

    total $60,000

  • 12 · Advertising and promotion

    total $3,478

  • 13 · Office expenses

    total $36,022

  • 16 · Occupancy

    total $137,075

  • 19 · Conferences, conventions and meetings

    total $54,655

  • 20 · Interest

    total $19,833

  • 21 · Payments to affiliates

    total $66,959

  • 22 · Depreciation, depletion and amortization

    total $103,370

  • 23 · Insurance

    total $31,694

  • 24a · Other expenses: EMPLOYEE COST SHARING

    total $55,182

  • 24b · Other expenses: VEHICLE EXPENSES

    total $39,481

  • 24c · Other expenses: EDUCATION EXPENSES

    total $11,000

  • 24d · Other expenses: BANK CHARGES

    total $10,131

  • 24e · All other expenses

    total $5,004

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $800,364 · end of year $278,466

  • 2 · Savings and temporary cash investments

    end of year $616,601

  • 4 · Accounts receivable

    beginning of year $124,930 · end of year $110,692

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,399 · end of year $25,842

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

    $1,438,412

  • 10b · Land, buildings and equipment: accumulated depreciation

    $589,174

  • 10c · Land, buildings and equipment, net

    beginning of year $951,491 · end of year $849,238

  • 15 · Other assets

    beginning of year $34,026 · end of year $100,222

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,008 · end of year $43,981

  • 24 · Unsecured notes and loans payable

    beginning of year $562,638 · end of year $532,589

  • 25 · Other liabilities

    beginning of year $363,281 · end of year $328,375

  • 27 · Net assets without donor restrictions

    beginning of year $951,283 · end of year $1,076,116

Mission and programs · 2023

Mission

IMPROVE COMMUNICATIONS BETWEEN EMPLOYERS AND LOCAL UNIONS.

  • COMMUNICATION BETWEEN EMPLOYERS AND LOCAL UNIONS THROUGH SEMINARS, PROGRAMS AND CONFERENCES TO PROMOTE COOPERATION AND DISCUSSION OF ISSUES CONCERNING THE INDUSTRY.

As filed on the 2023 return.

Listed in Part VII

  • Tony Penn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James Piazza

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Danny Hemminger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sam Renshaw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Douglas Reed

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tom Hayes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Richie Schdmit

    DIRECTOR

    Total calculated
    $168,338
    From this org
    $106,988
    From related orgs
    $0
    Other
    $61,350
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $106,988
    Bonus
    $0
    Other
    $0
    Deferred
    $45,933
    Nontaxable benefits
    $15,417
    Filer's total
    $168,338

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

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

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
2023
Filed
6 October 2024
IRS schema version
2023v5.1
Source object
202442929349300719

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