Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company | The functions of Executive Director have been delegated to a management company, JFM Holdings, Inc. These services primarily comprise management and planning of functions and activities of the Industry Advancement Fund, incurring expenses for support staff for administrative and accounting purposes, monitoring investment activities and reporting to the Board on all matters of operational, financial, and investment activities significant to the stability of the Industry Advancement Fund. |
| Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body | Board Members of the Iron League of Chicago, recorded on Schedule R as a Related Organization, elect the Board to the Industry Advancement Trust Fund. |
| Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders | All revenues of the Industry Fund received as "membership dues" are actually Iron Industry member firm contributions per hour under the terms of the collective bargaining agreement established between the Ironworkers Local #63 and the Iron League of Chicago. Thus Schedule C, Part III-A is reported as 90% of dues as nondeductible by the Local Union, a nonprofit entity. |
| Form 990, Part VI, Line 11b: Form 990 Review Process | Board of Directors review the Form 990 prior to filing. |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts | Annual Statement is signed by each Board Member regarding compliance with the written Conflict of Interest Policy. |
| Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management | The Board of Directors formally reviews budgeted expense against actual operating results as well as performance review in determining current Executive Director Firm's compensation. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | upon request |
| Software ID: | 15000324 |
| Software Version: | 2015v3.0 |