2023-04-12T18:15:21-05:00 2022-06-30 050409384 KAHN LITWIN RENZA & CO LTD 951 NORTH MAIN STREET PROVIDENCE RI 02904 990 2021-07-01 050470320 IYRS SCHOOL OF TECHNOLOGY & TRADES SCHOOL INC IYRS 4018485777 449 THAMES STREET NEWPORT RI 02840 JAY COOGAN PRESIDENT 4018485777 2023-04-12 1 JAY COOGAN 999009999 SANDY ROSS P01399337 4012742001 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JAY COOGAN 449 THAMES STREET NEWPORT RI 02840 5398936 0 X WWW.IYRS.EDU X 1993 RI IYRS EMPOWERS STUDENTS THROUGH IMMERSIVE, HANDS-ON LEARNING TO REALIZE THEIR FULL POTENTIAL IN CAREERS AND IN LIFE. 30 30 37 0 0 0 4359404 2295446 2284865 2215875 108771 94535 202880 576769 6955920 5182625 338860 314378 0 0 1986752 2084062 0 0 349278 2054707 2171856 4380319 4570296 2575601 612329 26287190 24395751 5473254 3168326 20813936 21227425 X IYRS EMPOWERS STUDENTS THROUGH IMMERSIVE, HANDS-ON LEARNING TO REALIZE THEIR FULL POTENTIAL IN CAREER AND IN LIFE. 0 0 3206206 314378 2319450 IYRS OFFERS FIVE, ACCSC-ACCREDITED PROGRAMS THAT RANGE IN DURATION FROM 6 TO 20 MONTHS. THE BOATBUILDING & RESTORATION IS A TWO-YEAR PROGRAM ABOUT MASTERING A CRAFT BASED ON THE FUNDAMENTALS OF WOODENN BOATBUILDING. THE MARINE STYSTEMS IS A 6-MONTH PROGRAM THAT TRAINS STUDENTS TO INSTALL, REPAIR AND MAINTAIN EVERY ESSENTIAL SYSTEM ON BOATS OF ALL SIZES: ELECTRICAL, NAVIGAION, ELECTRONICS, STEERING, DIESEL ENGINES, PLUMBING, FIREFIGHTING, HVAC, REFRIGERATION AND MORE. THE COMPOSITES TECHNOLOGY IS A 6 MONTH PROGRAM THAT HAS FOUR CORNERSTONES: COMPOSITES FUNDAMENTALS, COMPOSITES MANUFACTURING METHODS, COMPOSITES TOOLING DEVELOPMENT, AND COMPOSITES REPAIR AND REFINISHING. THE COMBINED PROGRAM IN COMPOSITES TECHNOLOGY AND MARINE SYSTEMS PROGRAM IS 11 MONTHS, WHERE STUDENTS ATTEND BOTH PROGRAMS AND COMPLETE THE PROGRAM WITH ONE EXTERNSHIP. THE DIGITAL MODELING & FABRICATION IS A 9 MONTH PROGRAM THAT IS A TECHNICAL SKILL BUILDING PLATFORM FOR THE MODERN MAKER OR MANUFACTURER. 202585 321250 IYRS ALSO OWNS AND OPERATES A MARINA TO SHOWCASE CLASSIC AND OTHER BOATS WHICH PROVIDE STUDENTS OPPORTUNITIES FOR HANDS-ON WORK, AND OWNS A TEMPORARY BUILDING USED FOR THE RESTORATION OF THE YACHT "CORONET". IN ADDITION, IYRS MANGES OTHER RELATED ORGANIZATIONS. 3408791 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 22 0 1 37 1 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 RI X MONIKA MILLER DIRECTOR OF FINANCE & ADMIN 4018485777 449 THAMES STREET NEWPORT RI 02840 JAY COOGAN PRESIDENT/CEO 50.00 2.00 X X 257184 0 32185 CONNELL CHRISTOPHER CANNON CHAIRMAN 0.50 X X 0 0 0 RONALD P O'HANLEY VICE-CHAIRMAN 0.50 X X 0 0 0 DARRELL CRATE TREASURER 0.50 X X 0 0 0 MICHAEL J DOMINGUEZ SECRETARY 0.50 X X 0 0 0 GEORGE BAKER TRUSTEE 0.50 X 0 0 0 LISA CHEEK TRUSTEE 0.50 X 0 0 0 MALCOLM D CLARKE JR TRUSTEE 0.50 X 0 0 0 PETER DENTON TRUSTEE 0.50 X 0 0 0 DAISY D'ISERNIA TRUSTEE 0.50 X 0 0 0 RONALD DUNBAR TRUSTEE 0.50 X 0 0 0 THOMAS FARRELL TRUSTEE 0.50 X 0 0 0 BILL FIRTH TRUSTEE 0.50 X 0 0 0 ROBERT FLAXMAN TRUSTEE 0.50 X 0 0 0 STEPHEN L GLASCOCK TRUSTEE 0.50 X 0 0 0 LAWRENCE GLENN TRUSTEE 0.50 X 0 0 0 DEBORAH L HADLEY TRUSTEE 0.50 X 0 0 0 CLARE HARRINGTON TRUSTEE 0.50 X 0 0 0 JAMES A HILTON TRUSTEE (TO 2/2021) 0.50 X 0 0 0 RALPH ISHAM TRUSTEE 0.50 X 0 0 0 WILLIAM KAHANE TREASURER 0.50 X 0 0 0 JOHN L KLINCK JR TRUSTEE 0.50 X 0 0 0 TERRY L LANZA TRUSTEE 0.50 X 0 0 0 LISA LEFORT TRUSTEE 0.50 X 0 0 0 BILL MORONG TRUSTEE 0.50 X 0 0 0 DOUGLAS L NEWHOUSE TRUSTEE 0.50 X 0 0 0 SEAN NEWTH TRUSTEE 0.50 X 0 0 0 DANIEL OGDEN TRUSTEE 0.50 X 0 0 0 REVIS POTTS TRUSTEE (FROM 3/2021) 0.50 X 0 0 0 CARTER RICHARDSON TRUSTEE 0.50 X 0 0 0 HANNAH SWETT TRUSTEE (FROM 7/2021) 0.50 X 0 0 0 J STEVEN WHITE TRUSTEE 0.50 X 0 0 0 MONIKA MILLER DIRECTOR OF FINANCE (TO 11/2021) 50.00 X 84180 0 10419 MONIQUE COLLINS CFO (FROM 12/2021) 50.00 X 5385 0 0 346749 0 42604 1 0 1 0 0 383351 1912095 118995 2295446 SCHOOL 611519 1694160 1694160 MARINA 713990 321250 321250 MANAGEMENT FEES 900099 200465 200465 2215875 107044 107044 72806 0 72806 72806 72806 10766 91500 12035 102740 -1269 -11240 -12509 -12509 253484 383351 101536 151948 151948 OTHER INCOME 900099 352015 352015 352015 5182625 2640696 0 246483 314378 314378 431200 105613 219973 105614 1425136 1192416 75192 157528 40948 21872 3995 15081 55180 55054 126 131598 88050 25701 17847 62251 3026 59225 48360 48360 134480 72627 52588 9265 191780 187709 2652 1419 265265 224661 24165 16439 102814 66256 22288 14270 533632 377071 155062 1499 5935 4931 298 706 8114 3438 2425 2251 68202 67534 668 503984 482770 19801 1413 187647 132537 51840 3270 BAD DEBT EXPENSE 36389 36389 DUES AND FEES 23003 8848 11605 2550 4570296 3408791 812227 349278 559105 790510 3493702 1487010 50 221939 1849569 1505062 8712 8262 223939 405192 16187592 4255426 12400505 11932166 1570411 1872421 5292569 5292569 888628 880620 26287190 24395751 383464 269944 545059 761157 4534460 2129000 10271 8225 5473254 3168326 X 19064148 19509591 1749788 1717834 20813936 21227425 26287190 24395751 612329 -198840 0 X 0 1 X 1 0 X 2713495 2148628 2452718 4865638 2295446 14475925 2621872 2294811 2651127 2310191 2469359 12347360 5335367 4443439 5103845 7175829 4764805 26823285 1416425 896828 1078154 273751 515513 4180671 168815 412577 355779 75000 307330 1319501 1585240 1309405 1433933 348751 822843 5500172 21323113 171090 110805 131395 126280 190616 730186 171090 110805 131395 126280 190616 730186 32722 50816 62382 99348 352015 597283 5539179 4605060 5297622 7401457 5307436 28150754 0.75750 0.82040 0.02590 0.02090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 591738 -35414 556324 597150 14588 20000 591738 629179 -13379 18650 597150 584602 25000 36677 17100 629179 541477 30000 30625 17500 584602 0.98410 0.01590 0 0 3828668 3828668 10167171 2414567 7752604 94536 69803 24733 2097217 1771056 326161 11932166 INVESTMENT IN SUBSIDIARY 5292569 C 5292569 CAPITAL LEASE OBLIGATIONS 8225 8225 X PART V, LINE 4: IYRS'S ENDOWMENT CONSISTS OF DONOR-RESTRICTED FUNDS ESTABLISHED TO SUPPORT SCHOLARSHIPS FOR THE SCHOOL, INCLUDING THE ACCUMULATED APPRECIATION OF THOSE FUNDS. PART X, LINE 2: IYRS IS EXEMPT FROM FEDERAL INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH ITS TAX-EXEMPT STATUS AT BOTH THE FEDERAL AND STATE LEVELS. IYRS ANNUALLY FILES IRS FORM 990 - RETURN OF ORGANIZATIONS EXEMPT FROM INCOME TAX, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. THESE TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES. THE ORGANIZATION CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. GALA 530357 382851 147506 7848 33230 6000 20138 CLASSIC YACHT REGATTA 20834 500 20334 2633 7101 3500 5031 1 85644 85644 16055 636835 383351 253484 10481 40331 9500 41224 101536 151948 1 SCHOLARSHIPS 314378 FAIR MARKET VALUE X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JAY COOGAN PRESIDENT/CEO 257184 0 0 0 0 0 15255 0 16930 0 289369 0 0 0 PART I, LINE 1A IYRS PAYS FOR THE PRESIDENT'S MEMBERSHIP IN THE NEW YORK YACHT CLUB, A MEMBERSHIP DIRECTLY RELATED TO HIS PROGRAMMATIC AND FUNDRAISING WORK. PART I, LINE 1B THE EXPENSE FOR THE MEMBERSHIP IS PART OF THE COMPENSATION CONTRACT AND IS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. X 11 118995 STOCK EXCHANGE VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE EXTERNAL AUDITORS. THE SENIOR STAFF ACCOUNTANT AND DIRECTOR OF FINANCE AND ADMINISTRATION BOTH REVIEW THE 990 PRIOR TO FILING AND WORK CLOSELY WITH THE EXTERNAL TAX TEAM. ONCE THEY ARE SATISFIED WITH THE FORM, IT IS SHARED WITH THE FINANCE COMMITTEE ELECTRONICALLY, AND THEN WITH THE BOARD OF TRUSTEES. THE COMMITTEE AND BOARD ARE ASKED IF THEY HAVE ANY QUESTIONS OR COMMENTS, WHICH ARE REVIEWED ELECTRONICALLY. ONCE THERE ARE NO FURTHER CHANGES, THE FORM IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS PROVIDED TO ALL OFFICERS, TRUSTEES AND KEY EMPLOYEES. ANNUALLY, THESE INDIVIDUALS ARE ASKED TO REVIEW THE POLICY AND SIGN A STATEMENT INDICATING THAT THEY UNDERSTAND THE POLICY, HAVE REPORTED ALL POTENTIAL CONFLICTS DURING THE PAST YEAR IN ACCORDANCE WITH THE POLICY AND WILL REPORT ALL POTENTIAL CONFLICTS DURING THE COMING YEAR. ALL POTENTIAL CONFLICTS ARE EVALUATED BY THE CHAIR OF THE BOARD OF TRUSTEES TO DETERMINE IF A CONFLICT ACTUALLY EXISTS. IN THOSE INSTANCES WHERE THE POTENTIAL TRANSACTION IS A CONFLICT, THE BOARD EXAMINES THE TRANSACTION AND A VOTE IS TAKEN (WITH THOSE INVOLVED RECUSING THEMSELVES) AS TO WHETHER THE ORGANIZATION WILL ENTER INTO THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY, THE COMPENSATION COMMITTEE OF THE BOARD CONDUCTS A PERFORMANCE REVIEW AND EVALUATION OF THE PRESIDENT, ESTABLISHING THE PRESIDENT'S COMPENSATION BASED ON THE EVALUATION OF THE PRESIDENT AND CONSIDERATION OF A SALARY SURVEY OF COMPARABLE POSITIONS OBTAINED FROM THE FORMS 990 OF SIMILAR ORGANIZATIONS. THE NEW PRESIDENT WAS HIRED AS OF OCTOBER 1, 2018 WITH A 5 YEAR CONTRACT THROUGH DECEMBER, 2023. THE PAY FOR ALL OTHER EMPLOYEES, INCLUDING THE CHIEF OPERATIONS & FINANCIAL OFFICER, KEY EMPLOYEES AND HIGHEST COMPENSATED EMPLOYEES, IS DETERMINED BY THE PRESIDENT. HOWEVER, THE BOARD OF TRUSTEES APPROVES THE BUDGET WHICH INCLUDES EMPLOYEE SALARIES, AND A SALARY WORKSHEET IS AVAILABLE TO ALL EXECUTIVE COMMITTEE MEMBERS UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION WILL MAIL COPIES UPON REQUEST OR PROVIDE COPIES TO THOSE WHO COME TO THE ADMINISTRATIVE OFFICE DURING NORMAL BUSINESS HOURS. THE ORGANIZATION CHARGES FOR THE COPIES IN ACCORDANCE WITH IRS REGULATIONS. MILL RESTORATION LLC 449 THAMES ST NEWPORT RI 02840 261134582 REAL ESTATE RI RESTORATION MANAGEMENT INC EXCLUDED 1 0 1.00000 RESTORATION LEASING LLC 449 THAMES ST NEWPORT RI 02840 261134383 REAL ESTATE RI EXCLUDED 1 1 1.00000 RESTORATION MANAGEMENT INC 449 THAMES ST NEWPORT RI 02840 261126450 REAL ESTATE RI C 1.00000 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 0 RESTORATION LEASING LLC K 425891 ACTUAL CASH RECEIVED RESTORATION LEASING LLC J 143442 ACTUAL CASH PAID RESTORATION LEASING LLC L 146507 ACTUAL CASH RECEIVED RESTORATION LEASING LLC Q 49716 ACTUAL CASH PAID RESTORATION MANAGEMENT INC L 38196 ACTUAL CASH RECEIVED