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Local 374 Development and Training Fund FY2024 filing

Not tax-deductible

Hobart, IN501(c)(5)Since 1988Mutual / membership EIN 35-1757364Revenue $1.4M in FY2024

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.
$112K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2024 · 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
$112K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 12.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$228K
12% of total assets
Looks good: liabilities are 12% 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
-2% vs prior year
Spent
$1.2M
Net assets
$1.7M
By yearFY2020–FY2025
Revenue
$1.4M
FY2024▼ -2%
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
$1.2M
FY2024▲ +13%
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
$1.7M
FY2024▲ +11%
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2024 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

9 people listed on the 990; $112K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Nicholas Tokarz
Training Director
$112,427Pt VII · Sec A
Lawrence McManamon
Trustee-Past
$0Pt VII · Sec A
$0Pt VII · Sec A
Jeff Spinks
Trustee - New
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John Mooney
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 · FY2023
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 FY2024 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
Investment incomeLn 3$39K
Other incomeLn 4–11$24K
Money outPt IX
$1.2M
Ln 25
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$2.0M
LiabilitiesLn 26$228K
PeoplePt VI, VII
9
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$39K
Other incomeLn 4–11$24K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$435K
SavingsLn 2$787K
Cash and savings togetherLn 1–2$1.2M
Land, buildings, equipmentLn 10c$736K
Other assetsLn 15$3K
Total assetsLn 16$2.0M
LiabilitiesLn 26$228K
Net assetsLn 32$1.7M
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 FY24End FY24
Cash and savingsLn 1–2$1.4M$1.2M
Land, buildings, equipmentLn 10c$444K$736K
Total assetsLn 16$1.9M$2.0M
LiabilitiesLn 26$314K$228K
Net assetsLn 32$1.6M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$333K
Pension plan contributionsLn 8$148K
Other employee benefitsLn 9$42K
Payroll taxesLn 10$11K
Legal feesLn 11b$2K
Accounting feesLn 11c$8K
Office expensesLn 13$29K
OccupancyLn 16$100K
Depreciation, depletion and amortizationLn 22$115K
InsuranceLn 23$41K
Other expenses (24a–d)Ln 24$380K
Total functional expensesLn 25$1.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.5M$1.2M$279K$2.0M 990 PDF
FY2024 Viewing $1.4M$1.2M$147K$1.7M 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $1,355,920 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,343,441$1,292,955
I-10 Investment incomePrior year $12,792$38,790
I-11 Other revenuePrior year $27,767$24,175
I-12 Total revenuePrior year $1,384,000$1,355,920
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $470,033$534,876
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $601,091$674,522
I-18 Total expensesPrior year $1,071,124$1,209,398
I-19 Revenue less expensesPrior year $312,876$146,522
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 $1,355,920 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,292,955$1,292,955
VIII-3 Investment incomeExcluded from tax $38,790$38,790
VIII-6 Net rental income or lossExcluded from tax $3,300$3,300
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $20,875$20,875
VIII-12 Total revenueRelated to mission $1,292,955 · Unrelated business $0 · Excluded from tax $62,965$1,355,920
Part IX · Statement of functional expenses $1,209,398 across 11 lines filed
IX-7 Other salaries and wages$333,381
IX-8 Pension plan contributions$148,139
IX-9 Other employee benefits$42,161
IX-10 Payroll taxes$11,195
IX-11b Legal fees$2,000
IX-11c Accounting fees$8,000
IX-13 Office expenses$29,058
IX-16 Occupancy$99,532
IX-22 Depreciation, depletion and amortization$114,654
IX-23 Insurance$41,200
IX-24 Other expenses (24a–d)$380,078
IX-25 Total functional expenses$1,209,398
Part X · Balance sheet $1,960,295 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $936,508$435,073
X-2 Savings and temporary cash investmentsStart of year $499,075$786,634
X-10c Land, buildings and equipment, netStart of year $444,281$735,931
X-15 Other assetsStart of year $0$2,657
X-16 Total assetsStart of year $1,879,864$1,960,295
X-17 Accounts payable and accrued expensesStart of year $266$0
X-25 Other liabilitiesStart of year $313,819$227,744
X-26 Total liabilitiesStart of year $314,085$227,744
X-32 Total net assets or fund balancesStart of year $1,565,779$1,732,551
X-33 Total liabilities and net assetsStart of year $1,879,864$1,960,295
Part XI · Reconciliation of net assets $1,732,551 net assets at year end
XI-1 Total revenue$1,355,920
XI-2 Total expenses$1,209,398
XI-3 Revenue less expenses$146,522
XI-4 Net assets at start of year$1,565,779
XI-8 Prior period adjustments$20,250
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,732,551

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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