Civic Intelligence

Illinois Regional Insulation Contractors Association

990 • Fiscal year 2020 • EIN 36-2655851

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 11, 2021

Organization ProfileWWW.INSULATION.COM
1515 E Woodfield Road Suite 118Schaumburg, IL 60173

(847) 619-9582

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Higher debt load relative to assets than 27% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

30th percentile

0.01x

Higher debt load relative to revenue than 30% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

44th percentile

3.0%

Higher net margin than 44% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

50th percentile

$52,500

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 23.5% of source-year revenue.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Asset Growth

55th percentile

8.1%

Faster asset growth than 55% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

65th percentile

-2.0%

Faster revenue growth than 65% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$595,430

Up $44,384 (+8.1%) from 2019

Net Assets

Up

$593,290

Up $43,150 (+7.8%) from 2019

Liabilities

Up

$2,140

Up $1,234 (+136%) from 2019

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin44th percentile

Revenue

Down

$223,085

Down $4,597 (-2.0%) from 2019

Expenses

Down

$216,346

Down $40,897 (-16%) from 2019

Net Income

Up

$6,739

Up $36,300 (+123%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$800K$600K$400K$200K$0Assets 2010: $281,584Liabilities 2010: $603Net Assets 2010: $280,9812010Assets 2011: $257,588Liabilities 2011: $1,901Net Assets 2011: $255,6872011Assets 2012: $295,447Liabilities 2012: $3,443Net Assets 2012: $292,0042012Assets 2013: $496,714Liabilities 2013: $3,560Net Assets 2013: $493,1542013Assets 2014: $534,866Liabilities 2014: $10,576Net Assets 2014: $524,2902014Assets 2015: $578,819Liabilities 2015: $3,504Net Assets 2015: $575,3152015Assets 2016: $590,855Liabilities 2016: $1,212Net Assets 2016: $589,6432016Assets 2017: $613,431Liabilities 2017: $3,873Net Assets 2017: $609,5582017Assets 2018: $543,234Liabilities 2018: $7,598Net Assets 2018: $535,6362018Assets 2019: $551,046Liabilities 2019: $906Net Assets 2019: $550,1402019Assets 2020: $595,430Liabilities 2020: $2,140Net Assets 2020: $593,2902020Assets 2021: $621,034Liabilities 2021: $2,056Net Assets 2021: $618,9782021Assets 2022: $498,279Liabilities 2022: $2,984Net Assets 2022: $495,2952022Assets 2023: $456,197Liabilities 2023: $2,203Net Assets 2023: $453,9942023Assets 2024: $525,060Liabilities 2024: $0Net Assets 2024: $525,0602024

Highlighted filing

2020

Assets$595,430
Liabilities$2,140
Net Assets$593,290
Open 2020 Filing

Operations Trend

Revenue Growth65th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $262,3842010Expenses 2011: $302,3672011Expenses 2012: $289,3042012Revenue 2013: $494,889Expenses 2013: $297,483Net Income 2013: $197,4062013Revenue 2014: $269,227Expenses 2014: $233,147Net Income 2014: $36,0802014Revenue 2015: $311,954Expenses 2015: $237,515Net Income 2015: $74,4392015Revenue 2016: $270,180Expenses 2016: $250,574Net Income 2016: $19,6062016Revenue 2017: $264,464Expenses 2017: $268,363Net Income 2017: -$3,8992017Revenue 2018: $247,556Expenses 2018: $276,405Net Income 2018: -$28,8492018Revenue 2019: $227,682Expenses 2019: $257,243Net Income 2019: -$29,5612019Revenue 2020: $223,085Expenses 2020: $216,346Net Income 2020: $6,7392020Revenue 2021: $213,003Expenses 2021: $188,692Net Income 2021: $24,3112021Revenue 2022: $264,374Expenses 2022: $293,033Net Income 2022: -$28,6592022Revenue 2023: $228,514Expenses 2023: $304,596Net Income 2023: -$76,0822023Revenue 2024: $238,845Expenses 2024: $178,842Net Income 2024: $60,0032024

Highlighted filing

2020

Revenue$223,085
Expenses$216,346
Net Income$6,739
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 11, 2021
Return Version
2020v4.0
Gross Receipts
$223,085
Mission and Program Overview

Mission

An educational resource to promote mechanical insulation and firestopping, and further educate union employees. The association conducts workshops, conferences and seminars, as well as issuing various newsletters throughout the year.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$506,546$561,462▲ $54,916
Cash and Non-Interest-Bearing Accounts$44,500$33,968▼ $10,532
Total Assets$551,046$595,430▲ $44,384
Liabilities
Accounts Payable and Accrued Expenses$906$2,140▲ $1,234
Total Liabilities$906$2,140▲ $1,234
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$550,140$593,290▲ $43,150
Total Net Assets Fund Balance$550,140$593,290▲ $43,150
Total Liabilities and Net Assets / Fund Balance$551,046$595,430▲ $44,384

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$36,923$36,923
Leasehold Improvements-$8,742$8,742
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeff CorradoExecutive DiPT$52,500$52,500

Board Members and Trustees

NameTitle
Peter CastellarinPresident
Bruce BittnerDirector
Ed StevensDirector
Jim DryerDirector
John LenosDirector
Kevin CusackDirector
Kevin DohertyDirector
Paul OttolinoDirector
Steve LuseDirector
Mike DettmannSecretary
Dan KraemerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$198,621
Program Service Revenue
$0
Investment Income
$22,185
Other Revenue
$2,279
Change in Net Assets
$6,739
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$114,963
Salaries, Compensation, and Employee Benefits$101,383
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$93,700
Occupancy---$30,539
Advertising---$15,772
Insurance---$13,473
Payroll Taxes---$7,683
Fees for Services Accounting---$7,585
Conferences and Meetings---$6,636
Travel---$5,116
Information Technology---$4,915
Fees for Service Investment Mgmnt Fees---$4,171
All Other Expenses---$2,156
Office Expenses---$1,921
Other Expenses---$1,600
Total Functional Expenses$0$0$0$216,346
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
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

“The form 990 is reviewed with the executive director and the treasurer of the association.”

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

“The board of directors reviews and approves compensation for the executive director and all employees annually.”

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

“The board of directors reviews and approves compensation for the executive director and all employees annually.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Illinois Regional Insulation
EIN
36-2655851
Phone
8476199582
Address
1515 E WOODFIELD ROAD SUITE 118, SCHAUMBURG, IL 60173

Signing Officer

Name
Jeff Corrado
Title
Executive Director
Phone
8476199528
Signed
2021-10-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Corrado
Formed
1929
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
2

Preparer

Firm
Eric J Fernandez & Co
Address
1S443 SUMMIT AVE STE 302, OAKBROOK TERRACE, IL 60181
Preparer
Jeffrey Kociak
Phone
6309324880
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“An educational resource to promote mechanical insulation and firestopping, and further educate union employees. The association conducts workshops, conferences and seminars, as well as issuing various newsletters throughout the year.”

Form 990, Page 2, Part III, Line 4D

“Promotion of mechanical insulation & firestopping and educating union employees through workshops, conferences, and seminars.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization has adopted fasb asc 740-10-25, accounting for uncertainty in income taxes. The organization will record a liability for uncertain tax positions when it is more likely than not that a tax position would not be sustained if examined by a taxing authority. The organization continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. The organization's evaluation on december 31, 2020 revealed no uncertain tax positions that would have a material impact on the financial statements. The 2017 through 2019 tax years remain subject to examination by the irs. The organization does not believe that any reasonably possible changes will occur within the next twelve months that will have a material impact on the financial statements.”

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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 ORGANIZATION HAS ADOPTED FASB ASC 740-10-25, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE ORGANIZATION WILL RECORD A LIABILITY FOR UNCERTAIN TAX POSITIONS WHEN IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WOULD NOT BE SUSTAINED IF EXAMINED BY A TAXING AUTHORITY. THE ORGANIZATION CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. THE ORGANIZATION'S EVALUATION ON DECEMBER 31, 2020 REVEALED NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. THE 2017 THROUGH 2019 TAX YEARS REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE ORGANIZATION DOES NOT BELIEVE THAT ANY REASONABLY POSSIBLE CHANGES WILL OCCUR WITHIN THE NEXT TWELVE MONTHS THAT WILL HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AN EDUCATIONAL RESOURCE TO PROMOTE MECHANICAL INSULATION AND FIRESTOPPING, AND FURTHER EDUCATE UNION EMPLOYEES. THE ASSOCIATION CONDUCTS WORKSHOPS, CONFERENCES AND SEMINARS, AS WELL AS ISSUING VARIOUS NEWSLETTERS THROUGHOUT THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROMOTION OF MECHANICAL INSULATION & FIRESTOPPING AND EDUCATING UNION EMPLOYEES THROUGH WORKSHOPS, CONFERENCES, AND SEMINARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED WITH THE EXECUTIVE DIRECTOR AND THE TREASURER OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION FOR THE EXECUTIVE DIRECTOR AND ALL EMPLOYEES ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION FOR THE EXECUTIVE DIRECTOR AND ALL EMPLOYEES ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0906
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0593290
IRS990/TotalReportableCompFromOrgAmt052500
IRS990/TotalRevenueGrp/ExclusionAmt022185
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02279
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0223085
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0551046
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0595430
IRS990/TravelGrp/TotalAmt05116
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01515 E WOODFIELD RD SUITE 118
IRS990/USAddress/CityNm0SCHAUMBURG
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060173
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.INSULATION.COM
IRS990/WhistleblowerPolicyInd0false
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ReturnHeader/BusinessOfficerGrp/PersonNm0JEFF CORRADO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08476199528
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ILLINOIS REGIONAL INSULATION
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363141842
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERIC J FERNANDEZ & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01S443 SUMMIT AVE STE 302
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OAKBROOK TERRACE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060181
ReturnHeader/PreparerPersonGrp/PhoneNum06309324880
ReturnHeader/PreparerPersonGrp/PreparationDt02021-10-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY KOCIAK
ReturnHeader/ReturnTs02021-10-14T14:49:57-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JEFF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CORRADO
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$595,430
Liabilities
$2,140
Net assets
$593,290
Revenue
$223,085
Expenses
$216,346
Net income
$6,739
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.25$0.00$5.25$2.39$1.79$0.60
2023Detailed filing. Detailed filing data is available for this year.$4.56$0.02$4.54$2.29$3.05$0.76
2022Detailed filing. Detailed filing data is available for this year.$4.98$0.03$4.95$2.64$2.93$0.29
2021Detailed filing. Detailed filing data is available for this year.$6.21$0.02$6.19$2.13$1.89$0.24
2020Detailed filing. Detailed filing data is available for this year.$5.95$0.02$5.93$2.23$2.16$0.07
2019Detailed filing. Detailed filing data is available for this year.$5.51$0.01$5.50$2.28$2.57$0.30
2018Detailed filing. Detailed filing data is available for this year.$5.43$0.08$5.36$2.48$2.76$0.29
2017Detailed filing. Detailed filing data is available for this year.$6.13$0.04$6.10$2.64$2.68$0.04
2016Detailed filing. Detailed filing data is available for this year.$5.91$0.01$5.90$2.70$2.51$0.20
2015Detailed filing. Detailed filing data is available for this year.$5.79$0.04$5.75$3.12$2.38$0.74
2014Detailed filing. Detailed filing data is available for this year.$5.35$0.11$5.24$2.69$2.33$0.36
2013Detailed filing. Detailed filing data is available for this year.$4.97$0.04$4.93$4.95$2.97$1.97
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.95$0.03$2.92$2.89
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.58$0.02$2.56$3.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.82$0.01$2.81$2.62