HAMPTON ROADS SHIPPING ASSOCIATION ILA CONTAINER ROYALTY FUND

EIN: 540852223

NORFOLK, VA

Total Revenue
$34,797,492
Total Expenses
$34,769,540
Total Assets
$46,139,148
Net Assets
$25,098,870
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
VA
Principal Officer
STEVE GREENE
Phone
7574577090
Tax Period
2023-10-01 to 2024-09-30

HAMPTON ROADS SHIPPING ASSOCIATION ILA CONTAINER ROYALTY FUND, founded in 1967, is a mid-sized nonprofit that reported $34.8M in total revenue in fiscal year 2023. Revenue fell 20% from the prior year — a significant decline worth monitoring.

Mission

THE TRUST IS HEREBY CREATED FOR THE PURPOSE OF PROVIDING SUPPLEMENTAL UNEMPLOYMENT BENEFITS TO EMPLOYEES OF THE LONGSHORE INDUSTRY AND PROTECTION FROM THE DECREASE OF EMPLOYMENT OPPORTUNITIES RESULTING FROM THE USE OF CONTAINERS.

Program Service Accomplishments

Program 1

PROVIDED SUPPLEMENTAL UNEMPLOYMENT BENEFITS TO EMPLOYEES OF THE LONGSHOREMAN INDUSTRY AND PROTECTION FROM THE DECREASE OF EMPLOYMENT OPPORTUNITIES DUE TO THE USE OF CONTAINERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $33,952,404
Investment Income $844,628
Other Revenue $460
TOTAL REVENUE $34,797,492

Expense Breakdown

Grants Paid $0
Salaries & Benefits $395,470
Fundraising Expenses $0
Other Expenses $399,819
TOTAL EXPENSES $34,769,540

Year-over-Year Comparison

2023 2022 Change
Revenue $34,797,492 $43,566,905 -0.2%
Expenses $34,769,540 $42,956,693 -0.2%
Net Income $27,952 $610,212 -1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
14
Employees
2106
Volunteers
14

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$203,974
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROGER GIESINGER TRUSTEE 0.50
Director
$0 $0 $0
JEREMY BRIDGES TRUSTEE 0.50
Director
$0 $0 $0
PETER COOKE TRUSTEE 0.50
Director
$0 $0 $0
JIM FORD TRUSTEE 0.50
Director
$0 $0 $0
JAMES MICHALSKI TRUSTEE 0.50
Director
$0 $0 $0
ERIN MALEY TRUSTEE 0.50
Director
$0 $0 $0
KYLE BASSHAM TRUSTEE 0.50
Director
$0 $0 $0
THOMAS LITTLE TRUSTEE 0.50
Director
$0 $0 $0
LARRY BACHTELL TRUSTEE 0.50
Director
$0 $0 $0
MONTA BIVINS TRUSTEE 0.50
Director
$0 $0 $0
JONATHAN COLEY TRUSTEE 0.50
Director
$0 $0 $0
MICHAEL HEATH TRUSTEE 0.50
Director
$0 $0 $0
CHRISTOPHER FAULK TRUSTEE 0.50
Director
$0 $0 $0
KEVIN HALSTEAD TRUSTEE 0.50
Director
$0 $0 $0
STEEVE GREENE ADMINISTRATOR 3.00
Officer
$41,285 $30,360 $203,974
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $34,797,492 $34,769,540 $46,139,148 $27,952
2023 $43,566,905 $42,956,693 $41,775,239 $610,212
2022 $33,734,622 $33,795,412 $43,733,399 $-60,790
2021 $30,289,535 $30,238,092 $41,307,572 $51,443
2020 $31,634,207 $31,658,329 $34,247,507 $-24,122
2019 $30,879,372 $30,883,140 $37,186,958 $-3,768
2018 $29,857,415 $30,116,889 $37,234,530 $-259,474
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