Overview
What is Ila West Gulf Maritime Association Container Royalty Trust Fund 1?
Ila West Gulf Maritime Association Container Royalty Trust Fund 1 is a nonprofit organization based in Houston, Texas, with the address 1717 East Loop North, Suite 200, ZIP code 77029. The primary mission of this organization is to collect and distribute royalties from containers as per a contractual agreement between the International Longshoremen's Association and members of the West Gulf Maritime Association. This trust fund exists to pay supplemental wage benefits to eligible longshoremen.
Is Ila West Gulf Maritime Association Container Royalty Trust Fund 1 legitimate?
Ila West Gulf Maritime Association Container Royalty Trust Fund 1 is a legitimate nonprofit organization registered as a 501(c)(17) entity. Ila West Gulf Maritime Association Container Royalty Trust Fund 1 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.
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What is the mission statement of Ila West Gulf Maritime Association Container Royalty Trust Fund 1?
The Ila West Gulf Maritime Association Container Royalty Trust Fund 1 serves the purpose of collecting and distributing royalties from containers, as stipulated in a contractual agreement between the International Longshoremen's Association and members of the West Gulf Maritime Association. Their primary mission is to provide supplemental wage benefits to eligible longshoremen. Through this fund, the organization ensures the fair distribution of royalties to the intended recipients. The agreement between the parties establishes the trust fund as a means of compensating longshoremen for their labor in handling containers, thereby promoting financial stability within the maritime industry workforce.
Who is the CEO of Ila West Gulf Maritime Association Container Royalty Trust Fund 1?
Chelsea Wauson is the Trustee-Chai of Ila West Gulf Maritime Association Container Royalty Trust Fund 1.
What is the revenue of Ila West Gulf Maritime Association Container Royalty Trust Fund 1?
Ila West Gulf Maritime Association Container Royalty Trust Fund 1's revenue in 2022 was $36,987,626.
Who are the executives of Ila West Gulf Maritime Association Container Royalty Trust Fund 1 and what are their salaries?
Here are 16 key members and their salaries:
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Where can I find the form 990 for Ila West Gulf Maritime Association Container Royalty Trust Fund 1?
Ila West Gulf Maritime Association Container Royalty Trust Fund 1's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ila West Gulf Maritime Association Container Royalty Trust Fund 1
Ila West Gulf Maritime Association Container Royalty Trust Fund 1 is a mission-driven organization dedicated to the collection and distribution of royalties from containers as outlined in a contractual agreement between the International Longshoremen's Association and members of the West Gulf Maritime Association. In simpler terms, this Trust Fund exists to provide supplemental wage benefits to eligible longshoremen.
The Trust Fund's primary activity revolves around the collection of royalties from containers, which is then distributed among the beneficiaries in accordance with the agreement between the International Longshoremen's Association and the West Gulf Maritime Association members. This partnership ensures a consistent flow of funds to support the wages of longshoremen involved in the container handling industry.
The distribution of these royalties plays a crucial role in enhancing the livelihoods of the eligible longshoremen, offering them additional financial support beyond their regular wages. By doing so, the Ila West Gulf Maritime Association Container Royalty Trust Fund 1 contributes to the overall well-being and financial stability of the longshoremen community.
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Impact
October, 2024
The Ila West Gulf Maritime Association Container Royalty Trust Fund 1 plays a significant role in supporting the financial well-being of eligible longshoremen in the Houston area. By facilitating the collection and distribution of royalties from container operations, it ensures that these maritime workers receive supplemental wage benefits. This not only provides a safety net for longshoremen during economic fluctuations but also promotes a more stable workforce in the maritime industry.
The trust fund operates under a contractual agreement between the International Longshoremen's Association and members of the West Gulf Maritime Association, demonstrating a mutual benefit that reinforces labor relations in the sector. By ensuring that longshoremen receive appropriate compensation, the fund contributes to higher morale and productivity among workers, ultimately enhancing the efficiency of port operations.
Moreover, the fund’s activities can have a broader economic impact in the Houston area, as increased supplemental wages for longshoremen translate to higher disposable income, which can stimulate local businesses and contribute to the overall economic health of the community. In essence, the Ila West Gulf Maritime Association Container Royalty Trust Fund 1 serves as a critical financial mechanism that supports longshoremen while fostering a more robust maritime workforce.
This information is meant to be a general summary of Ila West Gulf Maritime Association Container Royalty Trust Fund 1. 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: $180,705
- Program Service Revenue: $36,806,921
- Gross Receipts: $36,987,626
Assets and Liabilities:
- Total Assets: $59,795,869
- Total Liabilities: $59,795,869
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTAINER ROYALTY ASSESSMENTS
Revenue
$36,806,921
Organization Details
Founding Year
1968
Phone
(713) 678-7655Principal Officer
Chelsea Wauson
Main Address
1717 EAST LOOP NORTH STE 200, HOUSTON, TX, 77029
NTEE Category
Code: Y20 - Mutual benefit
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