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Local 374 Development and Training Fund FY2023 filing

Not tax-deductible

Hobart, IN501(c)(5)Since 1988Mutual / membership EIN 35-1757364Revenue $1.4M in FY2023

On file with the IRS760 N Union St, 46342-2536 · Hobart, INTax-exempt since May 1990

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Development and Training Fund

501(c)(5) labor or agricultural organization; gifts are not tax-deductible as charitable contributions.
$126K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $122K a year · 10% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$126K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 16.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$314K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
+4% vs prior year
Spent
$1.1M
Net assets
$1.6M
By yearFY2020–FY2025
Revenue
$1.4M
FY2023▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$751K
FY2022$1.3M
FY2023$1.4M
FY2024$1.4M
FY2025$1.5M
Expenses
$1.1M
FY2023▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$850K
FY2022$1.0M
FY2023$1.1M
FY2024$1.2M
FY2025$1.2M
Net assets
$1.6M
FY2023▲ +25%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$958K
FY2022$1.3M
FY2023$1.6M
FY2024$1.7M
FY2025$2.0M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1990.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

8 people listed on the 990; $126K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Nicholas Tokarz
Training Director
$125,774Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jerry Ripley
Trustee-Past
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
David Jelks$140,241—————
Nicholas Tokarz—$112,427$125,774$125,883$112,027$115,507
Stephen Hurm————$115,608$118,678

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Local 374 Development and Training Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Local 374 Development and Training Fund is a member-serving organization based in Hobart, IN, formed in 1988.

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Provided by the organization

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1 program · in their own filed words · FY2022
01

To create and maintain educational and training programs for the development of skills in crafts under the jurisdiction of the union.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.4M
Ln 12
Fees for servicesLn 2g$1.3M
Other incomeLn 4–11$28K
Investment incomeLn 3$13K
Money outPt IX
$1.1M
Ln 25
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$1.9M
LiabilitiesLn 26$314K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$13K
Other incomeLn 4–11$28K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$937K
SavingsLn 2$499K
Cash and savings togetherLn 1–2$1.4M
Land, buildings, equipmentLn 10c$444K
Total assetsLn 16$1.9M
LiabilitiesLn 26$314K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.0M$1.4M
Land, buildings, equipmentLn 10c$302K$444K
Total assetsLn 16$1.3M$1.9M
LiabilitiesLn 26$77K$314K
Net assetsLn 32$1.3M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$285K
Pension plan contributionsLn 8$130K
Other employee benefitsLn 9$44K
Payroll taxesLn 10$10K
Office expensesLn 13$21K
OccupancyLn 16$100K
Conferences, conventions and meetingsLn 19$6K
Depreciation, depletion and amortizationLn 22$68K
InsuranceLn 23$12K
Other expenses (24a–d)Ln 24$394K
Total functional expensesLn 25$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.5M$1.2M$279K$2.0M 990 PDF
FY2024 $1.4M$1.2M$147K$1.7M 990 PDF
FY2023 Viewing $1.4M$1.1M$313K$1.6M 990 PDF
FY2022 $1.3M$1.0M$295K$1.3M 990 PDF
FY2021 $751K$850K−$99K$958K 990 PDF
FY2020 $1.0M$1.2M−$204K$1.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $1,384,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $74,289$0
I-9 Program service revenuePrior year $1,241,818$1,343,441
I-10 Investment incomePrior year $2,023$12,792
I-11 Other revenuePrior year $18,063$27,767
I-12 Total revenuePrior year $1,336,193$1,384,000
I-13 Grants and similar amounts paidPrior year $500$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $410,610$470,033
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $629,813$601,091
I-18 Total expensesPrior year $1,040,923$1,071,124
I-19 Revenue less expensesPrior year $295,270$312,876
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,384,000 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,343,441$1,343,441
VIII-3 Investment incomeExcluded from tax $12,792$12,792
VIII-6 Net rental income or lossExcluded from tax $3,000$3,000
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $24,767$24,767
VIII-12 Total revenueRelated to mission $1,343,441 · Unrelated business $0 · Excluded from tax $40,559$1,384,000
Part IX · Statement of functional expenses $1,071,124 across 10 lines filed
IX-7 Other salaries and wages$285,445
IX-8 Pension plan contributions$130,424
IX-9 Other employee benefits$43,996
IX-10 Payroll taxes$10,168
IX-13 Office expenses$21,163
IX-16 Occupancy$100,147
IX-19 Conferences, conventions and meetings$6,335
IX-22 Depreciation, depletion and amortization$68,122
IX-23 Insurance$11,651
IX-24 Other expenses (24a–d)$393,673
IX-25 Total functional expenses$1,071,124
Part X · Balance sheet $1,879,864 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $540,026$936,508
X-2 Savings and temporary cash investmentsStart of year $487,718$499,075
X-10c Land, buildings and equipment, netStart of year $302,248$444,281
X-16 Total assetsStart of year $1,330,061$1,879,864
X-17 Accounts payable and accrued expenses$266
X-25 Other liabilitiesStart of year $77,158$313,819
X-26 Total liabilitiesStart of year $77,158$314,085
X-27 Net assets without donor restrictionsStart of year $1,252,903$1,565,779
X-32 Total net assets or fund balancesStart of year $1,252,903$1,565,779
X-33 Total liabilities and net assetsStart of year $1,330,061$1,879,864
Part XI · Reconciliation of net assets $1,565,779 net assets at year end
XI-1 Total revenue$1,384,000
XI-2 Total expenses$1,071,124
XI-3 Revenue less expenses$312,876
XI-4 Net assets at start of year$1,252,903
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,565,779

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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