Civic Intelligence

Ironworker Management Progressive Action Cooperative Trust

990 • Fiscal year 2019 • EIN 75-3054646

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

1750 New York Avenue NW FL 4Washington, DC 20006

(202) 393-1147

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)5 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)5 • $25M-$50M nonprofits • Source year 2019

Net Margin

7th percentile

-6.0%

Higher net margin than 7% of similar nonprofits.

2019 filings • 501(c)5 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

82nd percentile

$397,789

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2019 filings • 501(c)5 • $25M-$50M nonprofits • Source year 2019

Asset Growth

5th percentile

-5.1%

Faster asset growth than 5% of similar nonprofits.

2019 filings • 501(c)5 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

52nd percentile

4.7%

Faster revenue growth than 52% of similar nonprofits.

2019 filings • 501(c)5 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Assets

Down

$28,804,750

Down $1,552,005 (-5.1%) from 2018

Net Assets

Down

$28,804,750

Down $1,132,057 (-3.8%) from 2018

Liabilities

Down

$0

Down $419,948 (-100%) from 2018

Revenue

Up

$28,052,256

Up $1,268,981 (+4.7%) from 2018

Expenses

Down

$29,734,276

Down $2,872,360 (-8.8%) from 2018

Net Income

Up

-$1,682,020

Up $4,141,341 (+71%) from 2018

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2011: $39,560,093Liabilities 2011: $953,152Net Assets 2011: $38,606,9412011Assets 2012: $38,488,137Liabilities 2012: $801,621Net Assets 2012: $37,686,5162012Assets 2013: $40,424,997Liabilities 2013: $1,291,975Net Assets 2013: $39,133,0222013Assets 2014: $41,634,400Liabilities 2014: $1,001,218Net Assets 2014: $40,633,1822014Assets 2015: $40,031,857Liabilities 2015: $707,974Net Assets 2015: $39,323,8832015Assets 2016: $41,601,274Liabilities 2016: $398,289Net Assets 2016: $41,202,9852016Assets 2017: $37,590,998Liabilities 2017: $399,826Net Assets 2017: $37,191,1722017Assets 2018: $30,356,755Liabilities 2018: $419,948Net Assets 2018: $29,936,8072018Assets 2019: $28,804,750Liabilities 2019: $0Net Assets 2019: $28,804,7502019Assets 2020: $33,955,565Liabilities 2020: $0Net Assets 2020: $33,955,5652020Assets 2021: $38,057,274Liabilities 2021: $0Net Assets 2021: $38,057,2742021Assets 2022: $32,872,574Liabilities 2022: $0Net Assets 2022: $32,872,5742022Assets 2023: $29,860,953Liabilities 2023: $0Net Assets 2023: $29,860,9532023Assets 2024: $27,194,387Liabilities 2024: $0Net Assets 2024: $27,194,3872024

Highlighted filing

2019

Assets$28,804,750
Liabilities$0
Net Assets$28,804,750

Operations Trend

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

$40M$30M$20M$10M$0-$10MRevenue 2011: $17,293,945Expenses 2011: $17,409,004Net Income 2011: -$115,0592011Revenue 2012: $18,381,125Expenses 2012: $19,301,550Net Income 2012: -$920,4252012Revenue 2013: $21,141,842Expenses 2013: $19,695,336Net Income 2013: $1,446,5062013Revenue 2014: $22,873,639Expenses 2014: $21,373,479Net Income 2014: $1,500,1602014Revenue 2015: $25,654,589Expenses 2015: $26,963,888Net Income 2015: -$1,309,2992015Revenue 2016: $28,022,059Expenses 2016: $26,679,140Net Income 2016: $1,342,9192016Revenue 2017: $25,042,068Expenses 2017: $30,106,680Net Income 2017: -$5,064,6122017Revenue 2018: $26,783,275Expenses 2018: $32,606,636Net Income 2018: -$5,823,3612018Revenue 2019: $28,052,256Expenses 2019: $29,734,276Net Income 2019: -$1,682,0202019Revenue 2020: $24,567,245Expenses 2020: $19,631,275Net Income 2020: $4,935,9702020Revenue 2021: $28,418,367Expenses 2021: $22,578,270Net Income 2021: $5,840,0972021Revenue 2022: $26,244,265Expenses 2022: $27,683,739Net Income 2022: -$1,439,4742022Revenue 2023: $27,744,056Expenses 2023: $31,292,339Net Income 2023: -$3,548,2832023Revenue 2024: $27,425,484Expenses 2024: $30,249,616Net Income 2024: -$2,824,1322024

Highlighted filing

2019

Revenue$28,052,256
Expenses$29,734,276
Net Income-$1,682,020
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$32,675,798
Mission and Program Overview

Mission

The primary mission of impact is to expand the job opportunities for union ironworkers and their signatory contractors through progressive and innovative labor management cooperative programs

To promote the union ironworkers industry and increase market share

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$26,072,821$22,798,509▼ $3,274,312
Cash and Non-Interest-Bearing Accounts$4,197,302$5,989,577▲ $1,792,275
Prepaid Expenses and Deferred Charges$29,250$0▼ $29,250
Accounts Receivable$16,700$0▼ $16,700
Land, Buildings, and Equipment, Net$40,682$16,664▼ $24,018
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$30,356,755$28,804,750▼ $1,552,005
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$419,948$0▼ $419,948
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$419,948$0▼ $419,948
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$29,936,807$28,804,750▼ $1,132,057
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$29,936,807$28,804,750▼ $1,132,057
Total Liabilities and Net Assets / Fund Balance$30,356,755$28,804,750▼ $1,552,005

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$15,095$539,896$554,991
Equipment$1,060$155,034$156,095
Other Land Buildings$509$85,479$85,987
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kevin HiltonChief Executive OfficerFT$273,050$124,739$397,789

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$26,875,921
Investment Income
$936,190
Other Revenue
$240,145
Change in Net Assets
$-1,682,020

Audited Revenue Reconciliation

Revenue per Audited Statements
$28,052,256
Revenue Not Reported on Form 990
$723,400
Total Revenue per Audited Statements
$28,775,656
Total Revenue per Form 990
$28,052,256
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$28,016,392
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$5,673,147
Other Expenses---$3,143,694
Conferences and Meetings---$1,836,454
Benefits to Members---$1,717,884
Occupancy---$460,811
Payments to Affiliates---$450,956
Advertising---$387,007
Fees for Services Accounting---$215,676
Fees for Service Investment Mgmnt Fees---$126,050
Fees for Services Legal---$88,397
Depreciation Depletion---$61,898
Office Expenses---$32,466
Insurance---$20,418
Total Functional Expenses$0$0$0$29,734,276

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$29,734,276
Total Expenses per Audited Statements$29,734,276
Total Expenses per Form 990$29,734,276
International Activity

International Summary

Employees
2
Spending
$488,204

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaProgram ServicesOffice Space Usage-2$488,204
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
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
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section A, Line 2

Certain trustees serve as board members, officers or employees of the international association of bridge, structural, ornamental and reinforcement iron workers union afl-cio and have a business relationship with the filing organization since they also serve as trustees on the board of the filing organization.

Part VI, Section A, Line 7A

The Board of Trustees shall be composed of not fewer than six (6) Trustees or Trustee positions, and shall have equal numbers of Union Trustees and Employer Trustees. Successor and additional Union Trustees shall be appointed by the Iron Workers General President. Successor and additional Employer Trustees shall be appointed by the incumbent Employer Trustees, provided however, that no more than two (2) Employer Trustees shall be employed by or contracting with any one Employer so as to encourage broader involvement by Employers. The Board of Trustees shall be co-chaired by a Union Trustee selected from among the Union Trustees then sitting and by an Employer Trustee selected from among the Employer Trustees then sitting. During the first meeting of each calendar year, there shall be a re-election of the co-chairmen unless such re-election is waived by the Union Trustees with respect to the Union Co-Chairman and by the Employer Trustees with respect to the Employer Co-Chairman.

Part VI, Section B, Line 11B

The form 990 is reviewed by the executive director and general counsel prior to filing of the return.

Part VI, Section B, Line 12C

General counsel reviews and monitors compliance with conflict of interest policy.

Part VI, Section C, Line 19

Form 990 is made available upon written request.

Filing and Contact Details

Filer

Filer Name
Ironworker Management Progressive Action
EIN
75-3054646
In Care Of
% WITHUMSMITHBROWN PC
Phone
2023931147
Address
1750 NEW YORK AVENUE NW FL 4, WASHINGTON, DC 20006

Signing Officer

Name
Kevin Hilton
Title
CEO
Phone
2023931147
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Hilton
Formed
2003
Legal Domicile
Dc
Voting Board Members
34
Independent Board Members
34
Employees
0
Volunteers
0

Preparer

Firm
Withumsmithbrownpc
Address
4600 EAST WEST HWY 900, BETHESDA, MD 20814-3423
Preparer
Richard L Ruvelson
Phone
3012726000
Supplemental Narrative

Additional Explanations

Part XII, Line 1 - Other Basis of Accounting

The financial statements have been prepared using the modified cash basis of accounting. Generally, revenue is recognized when received rather than when earned and expenses are recorded when paid rather than when the obligation is incurred. However, fixed assets are capitalized and depreciated, investments are presented at fair value and both realized and unrealized gains and losses in the fair value of investments are recognized in the period in which they occur and assets and liabilities that arise from cash transactions (e.g. security deposits) are recognized.

Form 990 Part IX Line 24 - Other Expenses

Description:safety programs total expenses:1221577

Form 990 Part IX Line 24 - Other Expenses

Description:industry support total expenses:29310

Form 990 Part IX Line 24 - Other Expenses

Description:general & administrative total expenses:4422260

Financial Statement Notes

Part X, Line 2 - Fin 48 Footnote

Management annually evaluates tax positions taken to determine whether IMPACT has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service and any such uncertain tax position will be disclosed in the financial statements. Management has evaluated the tax positions taken by IM PACT and concluded that as of December 31, 2019 there were no uncertain positions taken or expected to be taken that would require disclosure in the financial statements. IMPACT is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. In addition, there have been no tax related interest or penalties for the periods presented in these financial statements. Should such penalties and interest be paid, IMPACT's policy is to recognize them as part of general and administrative expenses on the statements of revenue, expenses and changes in net assets - modified cash basis.

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IRS990/Form990PartVIISectionAGrp/TitleTxt31TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt32TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt33TRUSTEE (THRU 12/1/19)
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.2$0.00$27.2$27.4$30.2$2.82
2023Detailed filing. Detailed filing data is available for this year.$29.9$0.00$29.9$27.7$31.3$3.55
2022Detailed filing. Detailed filing data is available for this year.$32.9$0.00$32.9$26.2$27.7$1.44
2021Detailed filing. Detailed filing data is available for this year.$38.1$0.00$38.1$28.4$22.6$5.84
2020Detailed filing. Detailed filing data is available for this year.$34.0$0.00$34.0$24.6$19.6$4.94
2019Detailed filing. Detailed filing data is available for this year.$28.8$0.00$28.8$28.1$29.7$1.68
2018Detailed filing. Detailed filing data is available for this year.$30.4$0.42$29.9$26.8$32.6$5.82
2017Detailed filing. Detailed filing data is available for this year.$37.6$0.40$37.2$25.0$30.1$5.06
2016Detailed filing. Detailed filing data is available for this year.$41.6$0.40$41.2$28.0$26.7$1.34
2015Detailed filing. Detailed filing data is available for this year.$40.0$0.71$39.3$25.7$27.0$1.31
2014Summary only. Only limited summary data is available for this year.$41.6$1.00$40.6$22.9$21.4$1.50
2013Summary only. Only limited summary data is available for this year.$40.4$1.29$39.1$21.1$19.7$1.45
2012Summary only. Only limited summary data is available for this year.$38.5$0.80$37.7$18.4$19.3$0.92
2011Summary only. Only limited summary data is available for this year.$39.6$0.95$38.6$17.3$17.4$0.12