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← FINISHING TRADES INSTITUTE OF DC 14 CHICAGO

Form 990 for tax year 2023

Filed by FINISHING TRADES INSTITUTE OF DC 14 CHICAGO.

Totals

Total revenue
$7,405,757
Total expenses
$6,370,234
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,223,629
Investment income
$1,182,128
Other revenue
$0
Total assets, end of year
$21,750,562
Total liabilities, end of year
$1,025,234
Net assets or fund balances, end of year
$20,725,328
Program services expenses (Part IX)
$5,565,740
Management and general expenses
$804,494
Fundraising expenses
$0
Program service expenses (Part III)
$5,565,740

Program services were 87.4% 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: EMPLOYER CONTRIBUTIONS

    total $6,215,934 · related or exempt $6,215,934

  • 2b · Program service revenue: REGISTRATION & OTHER FEES

    total $7,695 · related or exempt $7,695

  • 3 · Investment income

    total $627,799 · excluded $627,799

  • 7a · Gross sales of assets other than inventory

    securities $8,225,731

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

    securities $7,671,402

  • 7c · Gain or loss

    securities $554,329

  • 7d · Net gain or loss

    total $554,329 · excluded $554,329

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,068,680 · program services $880,020 · management and general $188,660

  • 8 · Pension plan contributions

    total $459,964 · program services $344,050 · management and general $115,914

  • 9 · Other employee benefits

    total $332,849 · program services $240,905 · management and general $91,944

  • 10 · Payroll taxes

    total $90,039 · program services $65,421 · management and general $24,618

  • 11a · Fees: management

    total $13,200 · management and general $13,200

  • 11b · Fees: legal

    total $8,838 · management and general $8,838

  • 11c · Fees: accounting

    total $18,550 · management and general $18,550

  • 11f · Fees: investment management

    total $45,372 · management and general $45,372

  • 12 · Advertising and promotion

    total $72,580 · program services $72,580

  • 13 · Office expenses

    total $436,477 · program services $277,186 · management and general $159,291

  • 16 · Occupancy

    total $323,622 · program services $235,140 · management and general $88,482

  • 19 · Conferences, conventions and meetings

    total $129,571 · program services $129,571

  • 21 · Payments to affiliates

    total $633,749 · program services $633,749

  • 22 · Depreciation, depletion and amortization

    total $141,628 · program services $102,905 · management and general $38,723

  • 23 · Insurance

    total $39,873 · program services $28,971 · management and general $10,902

  • 24a · Other expenses: APPRENTICE FRINGE BENEF

    total $2,488,349 · program services $2,488,349

  • 24b · Other expenses: APPRENTICE STIPEND EXPE

    total $66,893 · program services $66,893

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $357,965 · end of year $553,263

  • 2 · Savings and temporary cash investments

    beginning of year $1,108,878 · end of year $858,893

  • 4 · Accounts receivable

    beginning of year $488,596 · end of year $556,789

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,508 · end of year $46,304

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

    $4,192,521

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

    $3,005,111

  • 10c · Land, buildings and equipment, net

    beginning of year $1,030,039 · end of year $1,187,410

  • 11 · Investments: publicly traded securities

    beginning of year $15,350,896 · end of year $16,877,365

  • 12 · Investments: other securities

    beginning of year $1,965,602 · end of year $1,640,125

  • 15 · Other assets

    beginning of year $26,423 · end of year $30,413

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,392,795 · end of year $1,013,068

  • 25 · Other liabilities

    beginning of year $12,066 · end of year $12,166

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $18,974,046 · end of year $20,725,328

Mission and programs · 2023

Mission

PROFESSIONAL TRADE EDUCATION

  • PROFESSIONAL TRADE EDUCATION BASED ON CONTRIBUTIONS RECEIVED IN CONJUNCTION WITH A COLLECTIVE BARGAINING AGREEMENT FOR THE PURPOSE OF TRAINING APPRENTICES.

    Expenses $5,565,740 · Revenue $6,223,629

As filed on the 2023 return.

Listed in Part VII

  • Miles Beatty

    Management Trustee

    Total calculated
    $0
    Hours/week
    3

  • Mark Zamiar

    Management Trustee

    Total calculated
    $0
    Hours/week
    3

  • Steve Brill

    Management Trustee

    Total calculated
    $0
    Hours/week
    3

  • Nate Brown

    Management Trustee

    Total calculated
    $0
    Hours/week
    3

  • Michael Dixon

    Union Trustee

    Total calculated
    $0
    Hours/week
    3

  • Victor Hernandez

    Union Trustee

    Total calculated
    $0
    Hours/week
    3

  • Ruben Valdivia

    Union Trustee

    Total calculated
    $0
    Hours/week
    3

  • James Teruel

    Union Trustee

    Total calculated
    $0
    Hours/week
    3

  • Joe Rinehart

    Union Trustee

    Total calculated
    $0
    Hours/week
    3

  • Joseph Hernandez

    Instructor

    Total calculated
    $226,919
    From this org
    $132,010
    From related orgs
    $0
    Other
    $94,909
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $132,010
    Bonus
    $0
    Other
    $0
    Deferred
    $56,085
    Nontaxable benefits
    $38,824
    Filer's total
    $226,919

  • Veronica Leal

    Instructor

    Total calculated
    $247,561
    From this org
    $149,960
    From related orgs
    $0
    Other
    $97,601
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $149,960
    Bonus
    $0
    Other
    $0
    Deferred
    $58,550
    Nontaxable benefits
    $39,051
    Filer's total
    $247,561

  • Matthew Shepard

    Instructor

    Total calculated
    $242,698
    From this org
    $146,001
    From related orgs
    $0
    Other
    $96,697
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $146,001
    Bonus
    $0
    Other
    $0
    Deferred
    $57,901
    Nontaxable benefits
    $38,796
    Filer's total
    $242,698

  • Robert Zappa

    Instructor

    Total calculated
    $249,530
    From this org
    $150,502
    From related orgs
    $0
    Other
    $99,028
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $150,502
    Bonus
    $0
    Other
    $0
    Deferred
    $59,340
    Nontaxable benefits
    $39,688
    Filer's total
    $249,530

  • Stephen M Thompson

    Instructor

    Total calculated
    $236,988
    From this org
    $142,189
    From related orgs
    $0
    Other
    $94,799
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $142,189
    Bonus
    $0
    Other
    $0
    Deferred
    $56,714
    Nontaxable benefits
    $38,085
    Filer's total
    $236,988

  • Daniel Penski

    Director of Apprenticeship

    Total calculated
    $249,385
    From this org
    $159,358
    From related orgs
    $0
    Other
    $90,027
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $159,358
    Bonus
    $0
    Other
    $0
    Deferred
    $55,461
    Nontaxable benefits
    $34,566
    Filer's total
    $249,385

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.

Provenance

Return type
form_990
Tax year
2023
Filed
10 July 2024
IRS schema version
2023v5.1
Source object
202421929349300637

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