Industry Development Fund

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Promote public awareness of the pipefitting Industry

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
6 of 6
filings with a surplus
Average surplus $87K a year · 8% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
5 mo
of spending, in cash
Looks good: 4.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+27% vs prior year
Spent
$1.5M
To programs
0%
Net assets
$879K
By yearFY2020–FY2025
Revenue
$1.6M
FY2025▲ +27%
Tap a bar for its year
Revenue by fiscal year
FY2020$927K
FY2021$844K
FY2022$924K
FY2023$964K
FY2024$1.3M
FY2025$1.6M
Expenses
$1.5M
FY2025▲ +27%
Tap a bar for its year
Expenses by fiscal year
FY2020$893K
FY2021$755K
FY2022$832K
FY2023$924K
FY2024$1.1M
FY2025$1.5M
Net assets
$879K
FY2025▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$390K
FY2021$480K
FY2022$572K
FY2023$612K
FY2024$727K
FY2025$879K

From the FY2025 Form 990 (year ending May 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1962.

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.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Dir.
$0Pt VII · Sec A
Deputy Exec. Dir
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Industry Development 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

Educates the public about the pipefitting industry.

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2024
01

Promote public awareness of the pipefitting industry

$1.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $115K · 2019–2024
Unitemized GrantFY2024$20,000
Unitemized GrantFY2023$18,750
Unitemized GrantFY2022$21,250
Unitemized GrantFY2021$21,250
Unitemized GrantFY2020$13,750
Unitemized GrantFY2019$20,000

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$55K
Money outPt IX
$1.5M
Ln 25
Owns and owesPt X
$879K
net assets · Ln 32
Cash and savingsLn 1–2$567K
Total assetsLn 16$879K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$55K
Gains on assetsLn 7$35K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$566K
SavingsLn 2$668
Cash and savings togetherLn 1–2$567K
InvestmentsLn 11–13$312K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$879K
LiabilitiesLn 26$0
Net assetsLn 32$879K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$458K$567K
InvestmentsLn 11–13$268K$312K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$727K$879K
LiabilitiesLn 26$0$0
Net assetsLn 32$727K$879K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$20K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$9K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$500
Advertising and promotionLn 12$49K
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$1.3M
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$37K
All other expensesLn 24e$0
Total functional expensesLn 25$1.5M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.6M$1.5M$153K$879K 990 PDF
FY2024 $1.3M$1.1M$115K$727K 990 PDF
FY2023 $964K$924K$40K$612K 990 PDF
FY2022 $924K$832K$92K$572K 990 PDF
FY2021 $844K$755K$90K$480K 990 PDF
FY2020 $927K$893K$33K$390K 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 FY2025 990 (6 parts)
Part I · Summary $1,603,673 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,242,326$1,548,524
I-10 Investment incomePrior year $16,135$55,149
I-11 Other revenue$0
I-12 Total revenuePrior year $1,258,461$1,603,673
I-13 Grants and similar amounts paidPrior year $18,750$20,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,124,782$1,430,928
I-18 Total expensesPrior year $1,143,532$1,450,928
I-19 Revenue less expensesPrior year $114,929$152,745
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,603,673 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,548,524$1,548,524
VIII-3 Investment incomeExcluded from tax $19,777$19,777
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $35,372$35,372
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $1,548,524 · Excluded from tax $55,149$1,603,673
Part IX · Statement of functional expenses $1,450,928 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$20,000
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$8,589
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$500
IX-12 Advertising and promotion$48,937
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$1,336,212
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)$36,690
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$1,450,928
Part X · Balance sheet $879,492 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $457,974$566,372
X-2 Savings and temporary cash investmentsStart of year $344$668
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $268,429$312,452
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $726,747$879,492
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $726,747$879,492
X-32 Total net assets or fund balancesStart of year $726,747$879,492
X-33 Total liabilities and net assetsStart of year $726,747$879,492
Part XI · Reconciliation of net assets $879,492 net assets at year end
XI-1 Total revenue$1,603,673
XI-2 Total expenses$1,450,928
XI-3 Revenue less expenses$152,745
XI-4 Net assets at start of year$726,747
XI-10 Net assets at end of year$879,492

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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