Overview
What is Local 861 Employer Container Royalty Trust?
Local 861 Employer Container Royalty Trust is a nonprofit entity situated in Portland, Maine. Its primary mission is to receive container royalty payments, which are earnings stemming from a collective bargaining agreement, and subsequently distribute these payments as supplemental income benefits to union employees. The Trust operates with the intention of offering additional financial support to its union members, after deducting allowable expenses. This entity functions as a means to share the profits gained from container royalties, thereby benefiting the union employees.
Is Local 861 Employer Container Royalty Trust legitimate?
Local 861 Employer Container Royalty Trust is a legitimate nonprofit organization registered as a 501(c)(2) entity. Local 861 Employer Container Royalty Trust 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Local 861 Employer Container Royalty Trust?
The Local 861 Employer Container Royalty Trust's primary purpose is to receive container royalty payments as per a collective bargaining agreement. Subsequently, the Trust disburses these container royalties to its union members as supplemental income benefits, after deducting any allowable expenses. The Trust's mission is centered around supporting the financial well-being of its union employees by providing them with these periodic income benefits derived from container royalties. The Trust's activities are regulated by the terms of the collective bargaining agreement, ensuring fair and equitable distribution of the royalty payments to its members.
Who is the CEO of Local 861 Employer Container Royalty Trust?
Chad Fox is the Trustee of Local 861 Employer Container Royalty Trust.
What is the revenue of Local 861 Employer Container Royalty Trust?
Local 861 Employer Container Royalty Trust's revenue in 2022 was $493,099.
Who are the executives of Local 861 Employer Container Royalty Trust and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Local 861 Employer Container Royalty Trust?
Local 861 Employer Container Royalty Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Local 861 Employer Container Royalty Trust
The Local 861 Employer Container Royalty Trust, in essence, serves a crucial role in the distribution of container royalty payments. As per its mission, the Trust receives these payments, which are a result of collective bargaining agreements, and proceeds to disburse them to union employees as supplemental income benefits. This practice is an essential aspect of the Trust's operations, as it aims to provide additional financial support to its members. The Trust adheres to its mission by deducting allowable expenses before distributing the net container royalties to the union employees. This mission ensures that the Trust acts as a reliable source of supplemental income for its members, thereby contributing positively to their financial well-being.
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Impact
October, 2024
Local 861 Employer Container Royalty Trust plays a vital role in enhancing the financial well-being of union employees in Portland, ME, by distributing container royalty payments earned through collective bargaining agreements. These payments serve as supplemental income benefits, providing an essential support system for workers who rely on this additional income.
By ensuring that union members receive their fair share of container royalties, the Trust actively contributes to the economic stability of the local community. This financial assistance helps workers manage their day-to-day expenses, thereby fostering a stronger, more resilient workforce. The impact of these distributions not only benefits individual employees but also strengthens the overall community by promoting economic improvement and stability.
In essence, the Trust's diligent work in managing and disbursing these royalties solidifies its role as a cornerstone of support for union workers, empowering them to thrive in their personal and professional lives while contributing to the collective strength of the community.
This information is meant to be a general summary of Local 861 Employer Container Royalty Trust. 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: $688
- Program Service Revenue: $492,411
- Gross Receipts: $493,099
Assets and Liabilities:
- Total Assets: $209,668
- Total Liabilities: $0
- Net Assets: $209,668
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Container Royalty Inco
Revenue
$492,411
Organization Details
Founding Year
2019
Phone
(207) 400-5000Principal Officer
Chad Fox
Main Address
254 Commercial Street 122, Portland, ME, 04101
NTEE Category
Code: S47 - Community improvement
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