Terralex INC FY2023 filing

Not tax-deductible

Miami Lakes, FL501(c)(6)EIN 65-0189074Revenue $3.3M in FY2023

On file with the IRSterralex.org15175 Nw 67th Ave Ste 207, 33014-2127 · Miami Lakes, FLTax-exempt since Apr 1995

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$849K paid to officers and key staff.
Pay: Part VII

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FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $10K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$849K
to officers and key staff · 26% of spending
Worth a look: pay to officers and key staff is 26% of spending; over 20%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$256
0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 26 voting members
Looks good: 26 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.3M
-0.1% vs prior year
Spent
$3.2M
Net assets
$2.3M
By yearFY2020–FY2024
Revenue
$3.3M
FY2023-0.1%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$3.3M
FY2023$3.3M
FY2024$3.8M
Expenses
$3.2M
FY2023▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.3M
FY2021$2.2M
FY2022$3.4M
FY2023$3.2M
FY2024$4.0M
Net assets
$2.3M
FY2023▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.2M
FY2021$2.4M
FY2022$2.2M
FY2023$2.3M
FY2024$2.2M

From the FY2023 Form 990 · 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: FY2024. IRS ruling in Apr 1995.

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

Who runs it and what they're paid

30 people listed on the 990; $849K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer
$357,400Pt VII · Sec A
Regional Director, Asia-Pacific and South America
$181,800Pt VII · Sec A
Regional Director, N. America, C. America & Caribb
$165,000Pt VII · Sec A
Director of Engagement
$145,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Terri Pepper$370,000$357,400$324,926——
Terri Pepper Gavulic———$290,692$308,347
Timothy E Shannon JR$193,500$181,800$180,000$174,800$180,250
Andrea Wilt$154,831$165,000———
Nicole L Rudner$155,000$145,000$127,000——
Andrea Wood——$149,000$138,500$137,415

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.

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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 15aYes

Programs and updates

Connects clients with quality global law firms for legal and business needs.

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3 programs · in their own filed words · FY2023
01

Meetings

TerraLex hosts global and regional meetings for members. These meetings include educational programs; updates by leading experts; member collaboration sessions; Board meetings; and other member opportunities.Webinars: TerraLex produces webinars to promote the thought leadership of its members to the client community, to aid members in…

Pt IX · col B
02

Publications

TerraLex provides a variety of publications to inform, educate, and update its members, including a weekly email newsletter ("TerraLex Spotlight"), an annual report, newsletters, and other communications.

Pt IX · col B
03

Website and Technology

TerraLex maintains and regularly updates and develops a website and member intranet (TLC) to provide updated information and opportunities for members to virtually connect and collaborate.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$3.3M
Ln 12
Fees for servicesLn 2g$3.3M
Investment incomeLn 3$25K
Money outPt IX
$3.2M
Ln 25
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$972K
Total assetsLn 16$2.3M
LiabilitiesLn 26$256
PeoplePt VI, VII
30
listed · VII A
PaidVII A4
Voting boardVI 1a26
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.3M
Investment incomeLn 3$25K
Gains on assetsLn 7−$12K
Total revenueLn 12$3.3M
Assets in detailPt X, end of year
CashLn 1$969K
SavingsLn 2$3K
Cash and savings togetherLn 1–2$972K
InvestmentsLn 11–13$1.2M
Land, buildings, equipmentLn 10c$107K
Other assetsLn 15$15K
Total assetsLn 16$2.3M
LiabilitiesLn 26$256
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 59
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY23End FY23
Cash and savingsLn 1–2$894K$972K
InvestmentsLn 11–13$1.2M$1.2M
Land, buildings, equipmentLn 10c$124K$107K
Total assetsLn 16$2.2M$2.3M
LiabilitiesLn 26$0$256
Net assetsLn 32$2.2M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$849K
Other salaries and wagesLn 7$823K
Other employee benefitsLn 9$51K
Payroll taxesLn 10$80K
Investment management feesLn 11f$7K
Other fees for servicesLn 11g$46K
Advertising and promotionLn 12$154K
Office expensesLn 13$39K
Information technologyLn 14$142K
OccupancyLn 16$99K
TravelLn 17$7K
Conferences, conventions and meetingsLn 19$836K
Depreciation, depletion and amortizationLn 22$65K
InsuranceLn 23$22K
Other expenses (24a–d)Ln 24$8K
Total functional expensesLn 25$3.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.8M$4.0M−$167K$2.2M 990 PDF
FY2023 Viewing $3.3M$3.2M$82K$2.3M 990 PDF
FY2022 $3.3M$3.4M−$131K$2.2M 990 PDF
FY2021 $2.4M$2.2M$201K$2.4M 990 PDF
FY2020 $2.4M$2.3M$65K$2.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $3,309,017 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $3,292,751$3,283,572
I-10 Investment incomePrior year $20,094$25,445
I-11 Other revenuePrior year $584$0
I-12 Total revenuePrior year $3,313,429$3,309,017
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 $1,822,515$1,802,823
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,621,865$1,424,623
I-18 Total expensesPrior year $3,444,380$3,227,446
I-19 Revenue less expensesPrior year −$130,951$81,571
Part VI · Governance 26 of 26 board members independent, no flags
VI-1a Voting members of the governing body26
VI-1b Independent voting members26
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,309,017 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,283,572$3,283,572
VIII-3 Investment incomeExcluded from tax $37,203$37,203
VIII-7 Net gain or loss on sales of assetsRelated to mission −$11,758−$11,758
VIII-12 Total revenueRelated to mission $3,271,814 · Unrelated business $0 · Excluded from tax $37,203$3,309,017
Part IX · Statement of functional expenses $3,227,446 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$849,200
IX-7 Other salaries and wages$823,219
IX-9 Other employee benefits$50,735
IX-10 Payroll taxes$79,669
IX-11f Investment management fees$6,973
IX-11g Other fees for services$46,252
IX-12 Advertising and promotion$153,639
IX-13 Office expenses$38,576
IX-14 Information technology$141,823
IX-16 Occupancy$99,363
IX-17 Travel$6,870
IX-19 Conferences, conventions and meetings$836,488
IX-22 Depreciation, depletion and amortization$64,921
IX-23 Insurance$21,968
IX-24 Other expenses (24a–d)$7,750
IX-25 Total functional expenses$3,227,446
Part X · Balance sheet $2,329,384 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $889,003$969,303
X-2 Savings and temporary cash investmentsStart of year $4,932$3,008
X-10c Land, buildings and equipment, netStart of year $124,249$107,245
X-11 Publicly traded securitiesStart of year $1,214,373$1,234,828
X-15 Other assetsStart of year $15,000$15,000
X-16 Total assetsStart of year $2,247,557$2,329,384
X-17 Accounts payable and accrued expensesStart of year $0$256
X-26 Total liabilitiesStart of year $0$256
X-32 Total net assets or fund balancesStart of year $2,247,557$2,329,128
X-33 Total liabilities and net assetsStart of year $2,247,557$2,329,384
Part XI · Reconciliation of net assets $2,329,128 net assets at year end
XI-1 Total revenue$3,309,017
XI-2 Total expenses$3,227,446
XI-3 Revenue less expenses$81,571
XI-4 Net assets at start of year$2,247,557
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,329,128

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

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