2025-02-26T08:18:21-06:00 2024-06-30 050409384 KAHN LITWIN RENZA & CO LTD 951 NORTH MAIN STREET PROVIDENCE RI 02904 990 2023-07-01 050470320 IYRS SCHOOL OF TECHNOLOGY & TRADES SCHOOL INC IYRS 4018485777 449 THAMES STREET NEWPORT RI 02840 MONIQUE COLLINS CFO 4018485777 2025-02-26 1 1 SANDY ROSS P01399337 4012742001 2025-02-25 2023 2025-03-06 01:10:19Z KERN MAASS 449 THAMES STREET NEWPORT RI 02840 5876078 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. 34 33 33 37 0 0 2013201 2281307 2726052 2825781 -101624 194207 142121 80364 4779750 5381659 467981 296870 0 0 2415270 2612674 0 0 435490 2777478 2413830 5660729 5323374 -880979 58285 23167671 21806897 2853708 1435183 20313963 20371714 X IYRS EMPOWERS STUDENTS THROUGH IMMERSIVE, HANDS-ON LEARNING TO REALIZE THEIR FULL POTENTIAL IN CAREER AND IN LIFE. 0 0 3601660 296870 2323538 IYRS OFFERS FOUR, 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 9-MONTH PROGRAM THAT HAS FOUR CORNERSTONES: COMPOSITES FUNDAMENTALS, COMPOSITES MANUFACTURING METHODS, COMPOSITES TOOLING DEVELOPMENT, AND COMPOSITES REPAIR AND REFINISHING. THE DIGITAL MODELING & FABRICATION PROGRAM IS A 9-MONTH PROGRAM THAT IS A TECHNICAL SKILL BUILDING PLATFORM FOR THE MODERN MAKER OR MANUFACTURER. 347085 673062 IYRS ALSO OWNS AND OPERATES A MARINA TO SHOWCASE CLASSIC AND OTHER BOATS WHICH PROVIDE STUDENTS OPPORTUNITIES FOR HANDS-ON WORK. IN ADDITION, IYRS MANAGES OTHER RELATED ORGANIZATIONS. 3948745 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 0 1 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 29 0 1 33 1 0 0 0 0 0 0 0 0 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 RI MA NY FL CA X MONIQUE COLLINS CFO 4018485777 449 THAMES STREET NEWPORT RI 02840 ALEX VALCIC TRUSTEE 0.50 X 0 0 0 BILL FIRTH TRUSTEE 0.50 X 0 0 0 BILL MORONG TRUSTEE 0.50 X 0 0 0 CARTER RICHARDSON TRUSTEE 0.50 X 0 0 0 CONNELL CHRISTOPHER CANNON TRUSTEE 0.50 X 0 0 0 DAISY D'ISERNIA TRUSTEE 0.50 X 0 0 0 DANIEL OGDEN TRUSTEE 0.50 X 0 0 0 DARRELL CRATE TRUSTEE 0.50 X 0 0 0 DEBORAH HADLEY TRUSTEE (TO 9/23) 0.50 X 0 0 0 DOUGLAS L NEWHOUSE TREASURER 0.50 X X 0 0 0 DR KATHLEEN BARNES TRUSTEE 0.50 X 0 0 0 GEORGE BAKER TRUSTEE 0.50 X 0 0 0 HANNAH SWETT TRUSTEE 0.50 X 0 0 0 J STEVE WHITE TRUSTEE (TO 7/23) 0.50 X 0 0 0 JAY COOGAN PRESIDENT/CEO (TO 7/23) 50.00 2.00 X X 189813 0 24116 JOHN BROOKS TRUSTEE 0.50 X 0 0 0 JOHN HALEY TRUSTEE 0.50 X 0 0 0 JOHN KLINCK JR TRUSTEE (TO 7/23) 0.50 X 0 0 0 KERN MAASS PRESIDENT/CEO 50.00 2.00 X X 149507 0 4640 LAUREN FLAHERTY TRUSTEE 0.50 X 0 0 0 LAWRENCE GLENN TRUSTEE 0.50 X 0 0 0 LISA HINTZ CHEEK TRUSTEE 0.50 X 0 0 0 LISA LEFORT TRUSTEE 0.50 X 0 0 0 MALCOLM D CLARKE JR TRUSTEE 0.50 X 0 0 0 MARTIN KEEN TRUSTEE 0.50 X 0 0 0 MICHAEL J DOMINGUEZ SECRETARY (TO 7/23) 0.50 X X 0 0 0 NEAL HARRELL JR TRUSTEE 0.50 X 0 0 0 PETER DENTON TRUSTEE 0.50 X 0 0 0 RALPH ISHAM TRUSTEE 0.50 X 0 0 0 RIVES POTTS TRUSTEE 0.50 X 0 0 0 ROBERT FLAXMAN TRUSTEE 0.50 X 0 0 0 RONALD DUNBAR TRUSTEE 0.50 X 0 0 0 RONALD P O'HANLEY VICE-CHAIRMAN 0.50 X X 0 0 0 SEAN NEWTH TRUSTEE 0.50 X 0 0 0 STEPHEN GLASCOCK CHAIRMAN 0.50 X X 0 0 0 SUSAN BALLOCH TRUSTEE 0.50 X 0 0 0 TERRY LANZA TRUSTEE 0.50 X 0 0 0 THOMAS FARRELL SECRETARY 0.50 X X 0 0 0 WILLIAM KAHANE TRUSTEE 0.50 X X 0 0 0 MONIQUE COLLINS CFO 50.00 2.00 X 137481 0 20175 476801 0 48931 3 0 1 0 SME ENTERTAINMENT 11777 SAN VICENTE BLVD SUITE 6600 LOS ANGELES CA 90049 TALENT AGENT 112500 1 645723 656352 979232 111267 2281307 SCHOOL 611519 2288519 2288519 MARINA 713990 365560 365560 MANAGEMENT FEES 900099 171702 171702 2825781 176882 176882 135800 0 135800 135800 135800 208 17117 0 0 208 17117 17325 17325 403964 645723 494419 -90455 -90455 OTHER INCOME 611519 35019 35019 35019 5381659 2996600 0 103752 296870 296870 494965 83365 278216 133384 1773004 1465931 124953 182120 58354 41763 5877 10714 131594 113242 7834 10518 154757 108112 25374 21271 61014 61014 62900 62900 325735 159226 162443 4066 202590 196109 6014 467 77678 50209 19135 8334 177890 125936 33368 18586 535296 451117 68259 15920 19891 11082 7635 1174 4363 3972 86 305 24512 23460 1052 427278 402540 20880 3858 224610 180467 43406 737 PROGRAM SUPPLIES 249072 225359 1145 22568 MISCELLANEOUS 11786 3840 7597 349 DUES AND FEES 9215 6145 1951 1119 5323374 3948745 939139 435490 1081271 402265 315203 1303335 192623 131096 1611377 100148 68281 61650 392444 445364 15479610 4357931 11208634 11121679 2215568 847888 5292569 5292569 789701 2100903 23167671 21806897 301145 457605 1161256 963099 1369000 0 22307 14479 2853708 1435183 X 18657838 18903602 1656125 1468112 20313963 20371714 23167671 21806897 58285 -534 0 X X 0 1 X 1 0 X 2452718 4865638 2295446 1877009 1635584 13126395 2651127 2310191 2469359 3326744 3875468 14632889 5103845 7175829 4764805 5203753 5511052 27759284 1078154 273751 515513 373775 602359 2843552 355779 75000 307330 738109 1433933 348751 822843 373775 602359 3581661 24177623 131395 126280 190616 438476 312682 1199449 131395 126280 190616 438476 312682 1199449 62382 99348 352015 25709 35019 574473 5297622 7401457 5307436 5667938 5858753 29533206 0.81870 0.79220 0.04060 0.03530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 595178 25974 28262 592890 556324 66229 27375 595178 591738 -35414 556324 597150 14588 20000 591738 629179 -13379 18650 597150 0.00000 0.92344 0.07656 1 1 0 3218900 3218900 10334072 2765516 7568556 1926638 1592415 334223 11121679 INVESTMENT IN SUBSIDIARY 5292569 C 5292569 BOAT RESTORATION ASSETS 261784 WORKS OF ART 584733 RIGHT OF USE ASSETS - LEASED EQUIPMENT 14511 RELATED PARTY RECEIVABLES 1239875 2100903 CAPITAL LEASE OBLIGATIONS 14479 14479 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 994019 632197 361822 215385 3048 149000 103359 CLASSIC YACHT REGATTA 29403 29403 3750 1 26265 13526 12739 4200 13147 2530 1049687 645723 403964 219585 16195 149000 109639 494419 -90455 1 SCHOLARSHIPS 50 296870 FAIR MARKET VALUE 1 X X X X 0 0 0 0 0 0 0 0 0 JAY COOGAN PRESIDENT/CEO (TO 7/23) 189813 0 0 0 0 0 11407 0 12709 0 213929 0 0 0 MONIQUE COLLINS CFO 137481 0 0 0 0 0 8888 0 11287 0 157656 0 0 0 KERN MAASS PRESIDENT/CEO 114507 0 35000 0 0 0 0 0 4640 0 154147 0 0 0 X 12 42000 FAIR MARKET VALUE X 6 69267 STOCK EXCHANGE VALUE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE EXTERNAL AUDITORS. THE CEO AND CFO 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 15 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 JULY 15, 2023 WITH A 3 YEAR CONTRACT THROUGH JULY 1, 2026. 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. FORM 990, PART XII, LINE 2C THE ORGANIZATION DID NOT CHANGE EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. MILL RESTORATION LLC 449 THAMES ST NEWPORT RI 02840 261134582 REAL ESTATE RI RESTORATION MANAGEMENT INC EXCLUDED 420577 7334560 1 0 1.00000 RESTORATION LEASING LLC 449 THAMES ST NEWPORT RI 02840 261134383 REAL ESTATE RI EXCLUDED 654183 1323011 1 1 1.00000 RESTORATION MANAGEMENT INC 449 THAMES ST NEWPORT RI 02840 261126450 REAL ESTATE RI C 39894 3893652 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 J 35000 COST RESTORATION LEASING LLC K 129468 COST RESTORATION LEASING LLC L 109506 COST RESTORATION MANAGEMENT INC L 38196 COST MILL RESTORATION LLC L 24000 COST RESTORATION LEASING LLC Q 43239 COST MILL RESTORATION LLC Q 56384 COST