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Nonprofiteer
← I B T CORPORATION

Form 990 for tax year 2023

Filed by I B T CORPORATION.

Totals

Total revenue
$152,000
Total expenses
$151,846
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$72,000
Investment income
$80,000
Other revenue
$0
Total assets, end of year
$1,075,961
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,075,961
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$151,846

Program services were 0.0% 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.

  • 2a · Program service revenue: RENTAL INCOME FROM PARENT

    total $72,000 · related or exempt $72,000

  • 7a · Gross sales of assets other than inventory

    other assets $100,000

  • 7b · Less cost or other basis and sales expenses

    other assets $20,000

  • 7c · Gain or loss

    other assets $80,000

  • 7d · Net gain or loss

    total $80,000 · excluded $80,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $4,985

  • 16 · Occupancy

    total $33,073

  • 22 · Depreciation, depletion and amortization

    total $65,191

  • 23 · Insurance

    total $5,892

  • 24a · Other expenses: PROPERTY TAXES

    total $24,972

  • 24b · Other expenses: CLEANING AND JANITORIAL

    total $11,279

  • 24c · Other expenses: MAINTENANCE

    total $5,913

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $541

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $140,765 · end of year $126,060

  • 2 · Savings and temporary cash investments

    beginning of year $32,122 · end of year $32,172

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

    $1,874,526

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

    $956,797

  • 10c · Land, buildings and equipment, net

    beginning of year $1,002,920 · end of year $917,729

  • 27 · Net assets without donor restrictions

    beginning of year $1,175,807 · end of year $1,075,961

Mission and programs · 2023

Mission

TO HOLD TITLE TO PROPERTY FOR PARENT ENTITY WHICH IS USED TO FURTHER THE PURPOSE OF RAISING THE STANDING AND POSITION OF ORGANIZED LABOR.

  • OPERATE AND MAINTAIN BUILDING FOR PARENT ENTITY THAT IS USED FOR THE PURPOSE OF RAISING THE STANDING AND POSITION OF ORGANIZED LABOR.

    Expenses $151,846 · Revenue $72,000

As filed on the 2023 return.

Listed in Part VII

  • Richard K Hall

    PRESIDENT

    Total calculated
    $179,056
    From this org
    $0
    From related orgs
    $121,441
    Other
    $57,615
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $121,441 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $29,256 related
    Nontaxable benefits
    not reported + $28,359 related
    Filer's total
    not reported + $179,056 related

  • Kellie S Shamblin

    VICE-PRESIDE

    Total calculated
    $86,224
    From this org
    $0
    From related orgs
    $57,736
    Other
    $28,488
    Hours/week
    1 + 40 related

  • Luke Farley

    SECRETARY-TR

    Total calculated
    $176,975
    From this org
    $0
    From related orgs
    $119,360
    Other
    $57,615
    Hours/week
    1.5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $119,360 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $29,256 related
    Nontaxable benefits
    not reported + $28,359 related
    Filer's total
    not reported + $176,975 related

  • Steven L Day

    VICE-PRESIDE

    Total calculated
    $197,419
    From this org
    $0
    From related orgs
    $139,804
    Other
    $57,615
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $139,804 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $29,256 related
    Nontaxable benefits
    not reported + $28,359 related
    Filer's total
    not reported + $197,419 related

  • George Scott

    TRUSTEE

    Total calculated
    $8,083
    From this org
    $0
    From related orgs
    $8,083
    Other
    $0
    Hours/week
    0.5 + 2 related

  • Darren Kimberling

    TRUSTEE

    Total calculated
    $7,920
    From this org
    $0
    From related orgs
    $7,920
    Other
    $0
    Hours/week
    0.5 + 2 related

  • Don Perdue

    RECORDING SE

    Total calculated
    $169,119
    From this org
    $0
    From related orgs
    $111,504
    Other
    $57,615
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $111,504 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $29,256 related
    Nontaxable benefits
    not reported + $28,359 related
    Filer's total
    not reported + $169,119 related

  • Kevin McKinney

    TRUSTEE

    Total calculated
    $7,920
    From this org
    $0
    From related orgs
    $7,920
    Other
    $0
    Hours/week
    0.5 + 2 related

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

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
2023
Filed
13 May 2024
IRS schema version
2023v5.0
Source object
202411369349317526

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