Overview
What is Hampton Roads Shipping Association Ila Container Royalty Fund?
The Hampton Roads Shipping Association Ila Container Royalty Fund is a nonprofit organization based in Norfolk, Virginia, with an address at 1355 International Terminal Blvd, ZIP code 23505. Its primary mission is to provide supplemental unemployment benefits to employees in the longshore industry. This organization aims to protect these workers from the potential decrease in employment opportunities due to the increasing use of containers in the shipping industry. By offering cash benefits, the Fund ensures financial assistance during periods of unemployment and helps stabilize the workforce in this sector. With a total of 2097 employees, the Fund plays a crucial role in supporting the livelihoods of longshore industry workers.
What are the reviews and ratings of this charity?
The Hampton Roads Shipping Association Ila Container Royalty Fund is not currently rated by Charity Navigator as it is not a 501(c)(3) IRS registered nonprofit, which is a requirement for evaluation. This lack of rating does not inherently suggest either positive or negative aspects, but rather indicates a limitation in the assessment process related to its registration status.
The organization has not provided data on total revenue, expenses, or salaries of key persons, further restricting comprehensive evaluation by Charity Navigator. Its foundation status is classified broadly for organizations outside the 501(c)(3) spectrum, marking it as independent. These factors collectively mean its historical ratings were largely based on accountability and finance as opposed to leadership, community impact, or adaptation.
There are no user reviews available on GreatNonprofits, preventing any additional insights into public perception or personal experiences related to the organization's performance or impact. As a result, any assessment must rely heavily on the data limitations noted by Charity Navigator.
This AI summary has been generated from information found on Charity Navigator.
Is Hampton Roads Shipping Association Ila Container Royalty Fund legitimate?
Hampton Roads Shipping Association Ila Container Royalty Fund is a legitimate nonprofit organization registered as a 501(c)(6) entity. Hampton Roads Shipping Association Ila Container Royalty Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $44,012
Professional Fundraising Fees: $0
Other Salaries and Wages: $219,458
For more financial information, click here
What is the mission statement of Hampton Roads Shipping Association Ila Container Royalty Fund?
The Hampton Roads Shipping Association Ila Container Royalty Fund was established with the purpose of providing supplemental unemployment benefits to employees in the longshore industry. This fund aims to protect these workers from the potential decrease of employment opportunities due to the increasing use of containers in shipping. By offering these benefits, the fund seeks to mitigate the economic impact of technological advancements on the workforce. The fund's mission is geared towards ensuring the financial security and stability of longshore industry employees. The fund's activities may also involve advocacy efforts to address any challenges related to employment opportunities and workforce adjustments.
Who is the CEO of Hampton Roads Shipping Association Ila Container Royalty Fund?
Steve Greene is the Trustee of Hampton Roads Shipping Association Ila Container Royalty Fund.
What is the revenue of Hampton Roads Shipping Association Ila Container Royalty Fund?
Hampton Roads Shipping Association Ila Container Royalty Fund's revenue in 2022 was $33,734,622.
Who are the executives of Hampton Roads Shipping Association Ila Container Royalty Fund and what are their salaries?
The average compensation at Hampton Roads Shipping Association Ila Container Royalty Fund during 2022 was $126. There are 2097 employees and 14 volunteers at Hampton Roads Shipping Association Ila Container Royalty Fund.
Here are 15 key members and their salaries:
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- Compensation: $37,185
- Related: $119,185
- Other: $28,710
Where can I find the form 990 for Hampton Roads Shipping Association Ila Container Royalty Fund?
Hampton Roads Shipping Association Ila Container Royalty Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hampton Roads Shipping Association Ila Container Royalty Fund
The Hampton Roads Shipping Association Ila Container Royalty Fund is a nonprofit organization established with a mission to provide supplemental unemployment benefits to employees in the longshore industry. This fund aims to cushion the financial impact of job losses resulting from the increasing use of containers in the industry.
In simpler terms, the Hampton Roads Shipping Association Ila Container Royalty Fund serves as a safety net for the longshore workforce. By creating this trust, the organization intends to mitigate the negative consequences of decreasing employment opportunities due to technological advancements. The fund's primary objective is to support the workforce during periods of unemployment, offering a crucial financial lifeline.
The Hampton Roads Shipping Association Ila Container Royalty Fund plays a pivotal role in preserving the financial wellbeing of the longshore workers. With the maritime industry undergoing significant changes, this nonprofit organization strives to provide essential support for those affected by the shift towards containerization. By offering supplemental unemployment benefits, the Hampton Roads Shipping Association Ila Container Royalty Fund fosters stability and resilience within the workforce, enabling them to weather the challenges brought about by technological advancements.
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Impact
October, 2024
The Hampton Roads Shipping Association Ila Container Royalty Fund significantly impacts the longshore industry by providing supplemental cash benefits to employees affected by the evolving shipping landscape. As the industry confronts changes due to the increased use of containers, workers face potential reductions in employment opportunities. This Fund addresses those challenges directly, offering financial support to mitigate the effects of unemployment and ensuring that workers can maintain a level of stability despite market fluctuations.
By focusing on the longshore industry, the Fund plays a crucial role in preserving livelihoods within this sector in Norfolk, VA. It helps to alleviate the financial strain on employees while fostering resilience against ongoing shifts in shipping practices. Through its initiatives, it not only supports individual workers but also contributes to the overall health and sustainability of the local maritime economy, promoting job security and community well-being in the face of industry changes.
This information is meant to be a general summary of Hampton Roads Shipping Association Ila Container Royalty Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $100,422
- Program Service Revenue: $33,633,645
- Gross Receipts: $77,767,973
Assets and Liabilities:
- Total Assets: $43,733,399
- Total Liabilities: $19,278,917
- Net Assets: $24,454,482
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CARRIER CONTRIBUTIONS
Revenue
$25,253,790
CRCCF DISTRIB OF EXCESS CONTRIBUT
Revenue
$8,379,855
Organization Details
Founding Year
1967
Phone
(757) 423-3090Principal Officer
Steve Greene
Main Address
1355 INTERNATIONAL TERMINAL BLVD, NORFOLK, VA, 235051458
NTEE Category
Code: Y20 - Mutual benefit
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