Wire Association Inc
- Assets
- $6.3m
- Revenue
- $625.5k
- Investments
- $0.0
- Employees
- 8
- Location
- Madison, CT
- Founding
- 02/1945
- Data as of
- 12/2021
- EIN
- 06-6060608
Organization Overview
Wire Association Inc is located in Madison, CT. The organization was established in 1945. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Wire Association Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wire Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Wire Association Inc generated $625.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.7%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO THE IMPROVEMENT AND GROWTH OF THE WIRE INDUSTRY BY PROMOTING AND DEVELOPING PROGRAMS AIMED AT ENABLING THE INDUSTRY TO CONDUCT ITSELF WITH THE GREATEST ECONOMY AND EFFICIENCY; TO COLLECT AND EXCHANGE INFORMATION RELATING TO THE PRODUCTION, DISTRIBUTION, CONSUMPTION AND USE OF WIRE, WIRE PRODUCTS, RODS AND NARROW STRIPS; TO IMPROVE PRODUCTION METHODS AND TO CONDUCT RESEARCH IN ALL PHASES OF WIREDRAWING AND WIRE WORKING; TO EXCHANGE IDEAS ON PRODUCTION AND MANAGEMENT; TO MAINTAIN A CENTRAL CLEARING HOUSE FOR TECHNICAL INFORMATION CONCERNING THE WIRE INDUSTRY; TO DISSEMINATE ACCURATE INFORMATION CONCERNING WIRE PRODUCTS AND HOW THEY BEST MAY BE USED; TO DEVELOP METHODS FOR THE IMPROVEMENT OF THE WELFARE OF THOSE ENGAGED IN THE WIRE INDUSTRIES, OR IN THE USE OF ITS PRODUCTS; TO ELIMINATE WASTE THROUGH SIMPLIFICATION AND STANDARDIZATION OF SIZES, STYLES AND VARIETIES; TO STANDARDIZE TRADE TERMINOLOGY AND TO PROMOTE THE SERVICEABILITY OF THE WIRE INDUSTRIES TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL TRADE SHOW - TO PROMOTE EXCHANGE OF IDEAS AND EXHIBIT TECHNOLOGY AND CHANGES THERETO TO THE WIRE INDUSTRY. APPROXIMATELY 1,866 MEMBERS.
REGIONAL MEETINGS - ALLOW PARTICIPANTS TO GAIN TECHNOLOGICAL KNOWLEDGE FROM EXPERTS IN VARIOUS AREAS OF THE WIRE INDUSTRY. APPROXIMATELY 1,866 MEMBERS.
OTHER SEMINARS/WEBINARS - ALLOW PARTICIPANTS TO GAIN TECHNOLOGICAL KNOWLEDGE FROM EXPERTS IN VARIOUS AREAS OF THE WIRE INDUSTRY. APPROXIMATELY 1,866 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Fetteroll Executive Director/secretary | Officer | 40 | $215,000 |
Sheilva Kuever Treasurer | Officer | 40 | $93,100 |
David B Lavalley Former Treasurer | Officer | 0 | $51,923 |
Thomas Heberling President | OfficerTrustee | 1 | $0 |
James R York First Vice President | OfficerTrustee | 1 | $0 |
Daniel Blais Second Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $232,524 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $232,524 |
| Total Program Service Revenue | $249,952 |
| Investment income | $160,560 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,510 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $625,477 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $368,623 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $152,443 |
| Pension plan accruals and contributions | $21,187 |
| Other employee benefits | $39,447 |
| Payroll taxes | $36,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,517 |
| Fees for services: Accounting | $39,158 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,967 |
| Advertising and promotion | $71,826 |
| Office expenses | $4,357 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,729 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,996 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,350 |
| Insurance | $10,177 |
| All other expenses | $36,576 |
| Total functional expenses | $1,045,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $937,739 |
| Savings and temporary cash investments | $938,539 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $117,561 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $83,624 |
| Net Land, buildings, and equipment | $9,525 |
| Investments—publicly traded securities | $3,632,710 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $585,353 |
| Total assets | $6,305,051 |
| Accounts payable and accrued expenses | $220,114 |
| Grants payable | $0 |
| Deferred revenue | $726,655 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $946,769 |
| Net assets without donor restrictions | $5,358,282 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,305,051 |
Endowment Analysis
| Beg. Balance | $2,900,443 |
| Earnings | $9,740 |
| Ending Balance | $2,910,183 |
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