Contractors Educational Trust Fund

“A copy of form 990 and a copy of the compiled financial statements are made available for comparison.”

“All documentation is available for review upon request.”

“The trust is authorized to provide funds to universities in louisiana who meet the eligibility requirements to further the education of interested persons in the field of construction contracting in and for the state of louisiana. Four $600,000 grants for endowed chairs at state universities having construction technology schools; matched by state funds of $400,000 to create a $1 million endowed chair. Eight $60,000 grants to fund professorships at state universities without construction technology schools but having construction-related curricula; matched by state funds of $40,000 for $100,000 professorships. No application required; universities receiving the grants required to enter into agreement with trust fund as to how the monies would be used. The principal programs which have been contributed to and which are contemplated are commonly referred to as "8g" programs in the state of louisiana. The original $2,900,000 invested in the trust fund, has already been expended. Basically, 8g programs are endowed professorships and endowed chairs, which allow for matching funds from the state government, on a 60/40 basis, in order to establish these chairs/professorships. These funds are then used exclusively to fund higher education in fields that directly impact the contracting vocation. The remainder of the trust fund monies, and any future contributions, will be used in similar fashion, although the exact nature has yet to be determined. Obviously, any future expenditures will be for exempt purposes, under section 501(c)(3) of the internal revenue code. Funds expended to date are as follows: 1. Chair's - 4 @ $600,000 $2,400,000 2. Professorships - 17 @ $60,000 1,020,000 3. Professorships - 1 @ $40,000 40,000 4. Professorships - 6 @ $30,000 180,000 5. Professorships - 1 @ $25,000 25,000 6. Professorships - 1 @ $27,500 27,500 7. Professorships - 16 @ $50,000 800,000 8. Educational programs 3,456,600 total $7,949,100 during 2020, an additional grant of $328,044 was received from the louisiana state licensing board.”

“No change from prior year”