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Nonprofiteer
← AISC EDUCATION FOUNDATION

Form 990 for tax year 2022

Filed by AISC EDUCATION FOUNDATION.

Totals

Total revenue
$1,392,850
Total expenses
$331,828
Contributions and grants received
$1,327,025
Grants paid
$287,090
Program service revenue
$0
Investment income
$65,825
Other revenue
$0
Total assets, end of year
$4,312,470
Total liabilities, end of year
$135,328
Net assets or fund balances, end of year
$4,177,142
Program services expenses (Part IX)
$322,628
Management and general expenses
$9,200
Fundraising expenses
$0
Program service expenses (Part III)
$322,628

Program services were 97.2% 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.

  • 1d · Related organizations

    $1,165,900

  • 1f · All other contributions, gifts and grants

    $161,125

  • 3 · Investment income

    total $65,825 · excluded $65,825

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $287,090 · program services $287,090

  • 11f · Fees: investment management

    total $1,000 · management and general $1,000

  • 11g · Fees: other

    total $2,500 · management and general $2,500

  • 13 · Office expenses

    total $85 · management and general $85

  • 23 · Insurance

    total $1,500 · management and general $1,500

  • 24a · Other expenses: OPERATING EXPENSE

    total $39,653 · program services $35,538 · management and general $4,115

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $63,748 · end of year $87,888

  • 11 · Investments: publicly traded securities

    beginning of year $3,472,452 · end of year $4,033,507

  • 15 · Other assets

    beginning of year $83,691 · end of year $191,075

  • 17 · Accounts payable and accrued expenses

    end of year $30,328

  • 19 · Deferred revenue

    end of year $105,000

  • 27 · Net assets without donor restrictions

    beginning of year $3,238,475 · end of year $3,810,726

  • 28 · Net assets with donor restrictions

    beginning of year $381,416 · end of year $366,416

Mission and programs · 2022

Mission

THE FOUNDATION SHALL OPERATE EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES WITHIN THE MEANING OF 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. IT SHALL HAVE, WITHOUT LIMITATION, THE FOLLOWING POWERS: SEE CONTINUED MISSION ON SCHEDULE OTO RECEIVE CONTRIBUTIONS, TO ACCEPT, HOLD, INVEST, REINVEST AND ADMINISTER ANY GIFTS, REQUESTS, DEVISES, BENEFITS OR TRUSTS, AND ANY PROPERTY OF ANY KIND WHATSOEVER, BOTH REAL AND PERSONAL, AND TO USE, DISBURSE, OR DISTRIBUTE THE INCOME OR PRINCIPAL THEREOF FOR EDUCATION SCHOLARSHIPS AND FELLOWSHIPS TO FURTHER COMPETENCE, CREATIVITY AND INTEREST IN THE FABRICATED STRUCTURAL STEEL AND ENGINEERING DESIGN INDUSTRIES AND FOR ALL OTHER CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES ALLOWED BY THE INTERNAL REVENUE CODE, AND THE ILLINOIS GENERAL NOT FOR PROFIT LAW.

Activities or mission (Part I)

PROMOTE EDUCATION & PROVIDE SCHOLARSHIPS RELATED TO FABRICATED STRUCTURAL STEEL & ENGINEERING.

  • THE FOUNDATION AWARDED SCHOLARSHIPS AND FELLOWSHIPS FROM THE SOUTHERN ASSOCIATION OF STEEL FABRICATORS FUND, THE ROCKY MOUNTAIN STEEL CONSTRUCTION ASSOC. FUND, THE FRED R. HAVENS FUND, THE AISC MEMORIAL SCHOLARSHIP FUND, THE GREAT LAKES FABRICATORS & ERECTORS ASSOCIATION, THE W&W/AFCO STEEL FUND, THE FOUNDATION FOR NEW HAMPSHIRE COMMUNITY COLLEGES AND UNDERGRADUATE RESEARCH FELLOWSHIPS.

    Expenses $287,090 · Grants $287,090

  • THE FOUNDATION CONDUCTS A NATIONAL STUDENT BRIDGE COMPETITION FOR THE WINNERS OF REGIONAL COMPETITIONS HELD THROUGHOUT THE COUNTRY. AWARDS ARE PRESENTED TO THE UNIVERSITIES/COLLEGES REPRESENTED BY THE WINNING STUDENTS FOR THE BENEFIT OF THE STUDENTS. EIGHT AWARDS FROM $1,000 TO $5,000 WERE PRESENTED IN 2022. THE NATIONAL STUDENT STEEL BRIDGE COMPETITION WAS HELD AT VIRGINIA TECH IN BLACKSBURG, VIRGINIA

    Expenses $35,538

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

Listed in Part VII

  • DAVID ZALESNE

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • BABETTE FREUND

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • DAN KADRMAS

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • EDWARD SEGLIAS

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • BENJAMIN R BAER

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • PATRICIA CLAYTON

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • EMILY GUGLIELMO PE

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • JACK KLIMP

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • JON D MAGNUSSON

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • GREGORY MICHAELSON PHD

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • MACHEL MORRISON

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • KIM RODDIS

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • STEPHANIE SLOCUM

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • JEFFREY SMILOW

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • ANDREA E SUROVEK PE

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • GLENN R TABOLT

    MEMBER OF COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • CHARLES J CARTER

    PRESIDENT

    Total calculated
    $388,129
    From this org
    $0
    From related orgs
    $323,527
    Other
    $64,602
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $308,002 related
    Bonus
    $0 + $15,525 related
    Other
    $0
    Deferred
    $0 + $27,000 related
    Nontaxable benefits
    $0 + $37,602 related
    Filer's total
    $0 + $388,129 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
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART 1, LINE 3
THE INDEPENDENT COMPENSATION COMMITTEE FOR AISC HOLDINGS, INC. CONSISTS OF THE CHAIR, VICE CHAIR & IMMEDIATE PAST THREE CHAIRS OF THE OPERATING COMPANY. THE CHAIR SHALL BE THE IMMEDIATE PAST CHAIR OF THE OPERATING COMPANY. THE COMPENSATION COMMITTEE IS RESPONSIBLE FOR APPROVING AND EVALUATING THE COMPENSATION PLANS AND POLICIES OF THE OPERATING COMPANY AS STATED IN THE AISC HOLDINGS, INC. BYLAWS. THE COMMITTEE SHALL ESTABLISH THE SALARY FOR THE AUTHORIZED REPRESENTATIVE OF THE OPERATING COMPANY.

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.

  • AISC HOLDINGS INC

    501(C)(6) · PROMOTE STEEL · IL

  • AISC PAC

    527 · POLITICAL ACTION · IL · controlled entity

    Directly controlled by AISC HOLDINGS INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • AISC STUDENT CLUBS LLC

    TO PROMOTE STRUCTURAL STEEL AND ENGINEERING DESIGN STUDENT ACTIVITIES · IL

    Directly controlled by AISC EDUCATION FOUNDATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202313119349302946

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