Civic Intelligence

Indianapolis Asbestos Workers Joint Apprenticeship Training Trust Fund

990 • Fiscal year 2022 • EIN 35-1892455

Jan 01, 2022 to Dec 31, 2022 • Filed on May 12, 2023

Organization ProfileWWW.WEINSULATE.ORG
1220 E Epler AvenueIndianapolis, IN 46227

(317) 786-3216

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.05x

Higher debt load relative to assets than 68% of similar nonprofits.

2022 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

0.16x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2022

Net Margin

78th percentile

20%

Higher net margin than 78% of similar nonprofits.

2022 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

40th percentile

$57,538

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 16.0% of source-year revenue.

2022 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2022

Asset Growth

61st percentile

4.8%

Faster asset growth than 61% of similar nonprofits.

2022 filings • 501(c)5 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

18th percentile

-8.5%

Faster revenue growth than 18% of similar nonprofits.

2022 filings • 501(c)5 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$1,276,847

Up $58,888 (+4.8%) from 2021

Net Assets

Up

$1,218,933

Up $72,579 (+6.3%) from 2021

Liabilities

Down

$57,914

Down $13,691 (-19%) from 2021

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin78th percentile

Revenue

Down

$359,882

Down $33,256 (-8.5%) from 2021

Expenses

Down

$287,304

Down $2,323 (-0.8%) from 2021

Net Income

Down

$72,578

Down $30,933 (-30%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $294,360Liabilities 2011: $0Net Assets 2011: $294,3602011Assets 2012: $366,660Liabilities 2012: $0Net Assets 2012: $366,6602012Assets 2013: $457,754Liabilities 2013: $0Net Assets 2013: $457,7542013Assets 2014: $529,417Liabilities 2014: $1,838Net Assets 2014: $527,5792014Assets 2015: $583,704Liabilities 2015: $1,767Net Assets 2015: $581,9372015Assets 2016: $614,262Liabilities 2016: $1,744Net Assets 2016: $612,5182016Assets 2017: $848,323Liabilities 2017: $123,876Net Assets 2017: $724,4472017Assets 2018: $950,139Liabilities 2018: $110,050Net Assets 2018: $840,0892018Assets 2019: $1,017,083Liabilities 2019: $97,642Net Assets 2019: $919,4412019Assets 2020: $1,132,915Liabilities 2020: $90,072Net Assets 2020: $1,042,8432020Assets 2021: $1,217,959Liabilities 2021: $71,605Net Assets 2021: $1,146,3542021Assets 2022: $1,276,847Liabilities 2022: $57,914Net Assets 2022: $1,218,9332022Assets 2023: $2,497,786Liabilities 2023: $1,219,232Net Assets 2023: $1,278,5542023Assets 2024: $2,543,830Liabilities 2024: $1,148,381Net Assets 2024: $1,395,4492024

Highlighted filing

2022

Assets$1,276,847
Liabilities$57,914
Net Assets$1,218,933
Open 2022 Filing

Operations Trend

Revenue Growth18th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$800K$600K$400K$200K$0Expenses 2011: $212,5892011Expenses 2012: $197,6392012Revenue 2013: $330,224Expenses 2013: $239,130Net Income 2013: $91,0942013Revenue 2014: $317,527Expenses 2014: $246,006Net Income 2014: $71,5212014Revenue 2015: $290,477Expenses 2015: $246,138Net Income 2015: $44,3392015Revenue 2016: $241,559Expenses 2016: $210,978Net Income 2016: $30,5812016Revenue 2017: $329,746Expenses 2017: $217,817Net Income 2017: $111,9292017Revenue 2018: $339,303Expenses 2018: $223,661Net Income 2018: $115,6422018Revenue 2019: $357,107Expenses 2019: $277,755Net Income 2019: $79,3522019Revenue 2020: $372,662Expenses 2020: $249,260Net Income 2020: $123,4022020Revenue 2021: $393,138Expenses 2021: $289,627Net Income 2021: $103,5112021Revenue 2022: $359,882Expenses 2022: $287,304Net Income 2022: $72,5782022Revenue 2023: $341,505Expenses 2023: $281,884Net Income 2023: $59,6212023Revenue 2024: $627,848Expenses 2024: $510,953Net Income 2024: $116,8952024

Highlighted filing

2022

Revenue$359,882
Expenses$287,304
Net Income$72,578
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 12, 2023
Return Version
2022v5.0
Gross Receipts
$359,882
Mission and Program Overview

Mission

To educate and prepare apprentices to perform all aspects

To educate and prepare apprentices to perform all aspects of the work required in the industry with the goal of making each apprentice a highly skilled journeyman in the insulation industry upon satisfactory completion of the 4 year program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$867,023$897,601▲ $30,578
Land, Buildings, and Equipment, Net$204,106$201,818▼ $2,288
Cash and Non-Interest-Bearing Accounts$146,830$56,415▼ $90,415
Total Assets$1,217,959$1,276,847▲ $58,888
Other Assets Total-$121,013-
Liabilities
Other Liabilities$68,669$54,805▼ $13,864
Accounts Payable and Accrued Expenses$2,936$3,109▲ $173
Total Liabilities$71,605$57,914▼ $13,691
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,146,354$1,218,933▲ $72,579
Total Net Assets Fund Balance$1,146,354$1,218,933▲ $72,579
Total Liabilities and Net Assets / Fund Balance$1,217,959$1,276,847▲ $58,888

Asset Categories

AssetBook ValueDepreciationBasis
Land$173,282-$173,282
Equipment-$80,708$80,708
Other Land Buildings$28,536$10,088$38,624
Other Assets Org$121,013--
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Todd ConnTrusteePT$57,538$57,538

Board Members and Trustees

NameTitle
Dave MillerTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$239,800
Program Service Revenue
$27,754
Investment Income
$4,692
Other Revenue
$87,636
Change in Net Assets
$72,578

Audited Revenue Reconciliation

Revenue per Audited Statements
$359,882
Total Revenue per Audited Statements
$359,882
Total Revenue per Form 990
$359,882
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$170,817
Salaries, Compensation, and Employee Benefits$116,487
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$57,538-$57,538
Other Salaries and Wages$49,086--$49,086
Travel-$13,769-$13,769
Payroll Taxes$3,702$6,161-$9,863
Fees for Services Accounting-$7,000-$7,000
Office Expenses-$6,932-$6,932
Insurance-$5,028-$5,028
Depreciation Depletion$2,090$199-$2,289
Fees for Services Legal-$2,067-$2,067
Other Expenses$44,038$657-$657
All Other Expenses-$2-$2
Total Functional Expenses$186,552$100,752$0$287,304

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$287,304
Expenses per Audited Statements$287,303
Total Expenses per Audited Statements$287,303
Expenses Not Reported on Financial Statements$1
Other Expense Adjustments$1
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Contract Payable$54,249
Note Payable$556
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is available for review to each trustee prior to filing with the internal revenue service.”

Form 990, Page 6, Part VI, Line 12C

“The board of trustees consistently monitor and enforce compliance with the conflict of interest policy. Conflict of interest forms are reviewed and retained for potential conflicts.”

Form 990, Page 6, Part VI, Line 15B

“Compensation process for officers compensation is reviewed and approved by the trusteees.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Indianapolis Asbestos Workers Joint
EIN
35-1892455
Phone
3177863216
Address
1220 E EPLER AVENUE, INDIANAPOLIS, IN 46227

Signing Officer

Name
Todd Conn
Title
Trustee
Phone
3177863216
Signed
2023-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Todd Conn
Formed
1995
Legal Domicile
In
Voting Board Members
2
Independent Board Members
1
Employees
16
Volunteers
1

Preparer

Firm
L M Henderson & Company Llp
Address
450 E 96TH ST STE 200, INDIANAPOLIS, IN 46240-3797
Preparer
Michelle L Zimmerman
Phone
3175661000
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To educate and prepare apprentices to perform all aspects of the work required in the industry with the goal of making each apprentice a highly skilled journeyman in the insulation industry upon satisfactory completion of the 4 year program.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 1”

Financial Statement Notes

Schedule D, Page 3, Part X

“The fund obtained its latest determination letter in july 1993, in which the internal revenue service stated that the fund, as then designed, was in compliance with the applicable requirements of the internal revenue code. The fund administrator and the fund's tax counsel believe that the fund is currently designed and being operated in compliance with the applicable requirements of the code. Therefore, they believe that the fund was tax-exepmt under section 501(c)(5) as of the financial statement date. The fund filed the form 5500 exemption, thus the fund is not required to file a form 5500 annually. The modified cash basis of accounting requires fund management to evaluate tax positions taken by the trust and recognize a tax liability (or asset) if the organization has taken an uncertain tax position that more likely than not would not be sustained upon examination by the internal revenue service. The fund administrator has analyzed the tax positions taken by the fund and has concluded that as of december 31, 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The fund is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. The fund is subject to income tax examinations by the taxing authorities for a period of three years from the date the tax returns are filed.”

Schedule D, Page 4, Part XII, Line 4B

“Book / tax depreciation difference 1”

Raw XML Appendix351 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FUND OBTAINED ITS LATEST DETERMINATION LETTER IN JULY 1993, IN WHICH THE INTERNAL REVENUE SERVICE STATED THAT THE FUND, AS THEN DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE INTERNAL REVENUE CODE. THE FUND ADMINISTRATOR AND THE FUND'S TAX COUNSEL BELIEVE THAT THE FUND IS CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE CODE. THEREFORE, THEY BELIEVE THAT THE FUND WAS TAX-EXEPMT UNDER SECTION 501(C)(5) AS OF THE FINANCIAL STATEMENT DATE. THE FUND FILED THE FORM 5500 EXEMPTION, THUS THE FUND IS NOT REQUIRED TO FILE A FORM 5500 ANNUALLY. THE MODIFIED CASH BASIS OF ACCOUNTING REQUIRES FUND MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE TRUST AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE FUND ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FUND AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FUND IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOD IN PROGRESS. THE FUND IS SUBJECT TO INCOME TAX EXAMINATIONS BY THE TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THE TAX RETURNS ARE FILED.
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IRS990ScheduleD/TotalLiabilityAmt054805
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO EDUCATE AND PREPARE APPRENTICES TO PERFORM ALL ASPECTS OF THE WORK REQUIRED IN THE INDUSTRY WITH THE GOAL OF MAKING EACH APPRENTICE A HIGHLY SKILLED JOURNEYMAN IN THE INSULATION INDUSTRY UPON SATISFACTORY COMPLETION OF THE 4 YEAR PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS AVAILABLE FOR REVIEW TO EACH TRUSTEE PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF TRUSTEES CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. CONFLICT OF INTEREST FORMS ARE REVIEWED AND RETAINED FOR POTENTIAL CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION PROCESS FOR OFFICERS COMPENSATION IS REVIEWED AND APPROVED BY THE TRUSTEEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK / TAX DEPRECIATION DIFFERENCE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0115390
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0359882
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205520612
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0L M HENDERSON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0450 E 96TH ST STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0462403797
ReturnHeader/PreparerPersonGrp/PhoneNum03175661000
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHELLE L ZIMMERMAN
ReturnHeader/ReturnTs02023-11-09T13:12:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TODD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CONN
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,276,847
Liabilities
$57,914
Net assets
$1,218,933
Revenue
$359,882
Expenses
$287,304
Net income
$72,578
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.54$1.15$1.40$0.63$0.51$0.12
2023Detailed filing. Detailed filing data is available for this year.$2.50$1.22$1.28$0.34$0.28$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.28$0.06$1.22$0.36$0.29$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.22$0.07$1.15$0.39$0.29$0.10
2020Detailed filing. Detailed filing data is available for this year.$1.13$0.09$1.04$0.37$0.25$0.12
2019Detailed filing. Detailed filing data is available for this year.$1.02$0.10$0.92$0.36$0.28$0.08
2018Detailed filing. Detailed filing data is available for this year.$0.95$0.11$0.84$0.34$0.22$0.12
2017Detailed filing. Detailed filing data is available for this year.$0.85$0.12$0.72$0.33$0.22$0.11
2016Detailed filing. Detailed filing data is available for this year.$0.61$0.00$0.61$0.24$0.21$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.58$0.00$0.58$0.29$0.25$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.53$0.00$0.53$0.32$0.25$0.07
2013Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.33$0.24$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.00$0.37$0.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$0.00$0.29$0.21