Friction Materials Standards
- Assets
- $1.0m
- Revenue
- $521.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Auburn Hills, MI
- Founding
- 03/1951
- Data as of
- 12/2021
- EIN
- 13-1606491
Organization Overview
Friction Materials Standards is located in Auburn Hills, MI. The organization was established in 1951. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Friction Materials Standards employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friction Materials Standards 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, Friction Materials Standards generated $521.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $597.8k during the year ending 12/2021. While expenses have increased by 7.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
GATHERS INFORMATION FOR MANUFACTURERS OF AUTOMOTIVE FRICTION MATERIALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE IS AN ASSOCIATION OF MANUFACTURERS OF AUTOMOTIVE FRICTION MATERIALS PRIMARILY FOR BRAKE LININGS AND CLUTCH FACINGS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Oliveto Director/president | OfficerTrustee | 0 | $0 |
Jason Lang Director | Trustee | 0 | $0 |
Greg Vyletel Director | Trustee | 0 | $0 |
Mark Phipps Director/vice Chairman | Trustee | 0 | $0 |
Bill Murray Director/chairman | Trustee | 0 | $0 |
Skip Carroll Director/second Vice Chairman | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $488,553 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $488,553 |
| Total Program Service Revenue | $0 |
| Investment income | $7,886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,903 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $521,842 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $136,926 |
| Pension plan accruals and contributions | $5,674 |
| Other employee benefits | $0 |
| Payroll taxes | $14,445 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,886 |
| Fees for services: Accounting | $18,957 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,811 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,308 |
| Travel | $4,629 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $109,269 |
| Interest | $535 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,489 |
| Insurance | $4,033 |
| All other expenses | $37,478 |
| Total functional expenses | $597,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,003 |
| Savings and temporary cash investments | $465,402 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,175 |
| 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 | $74,125 |
| Net Land, buildings, and equipment | $107,965 |
| Investments—publicly traded securities | $240,321 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,625 |
| Total assets | $1,034,616 |
| Accounts payable and accrued expenses | $85,516 |
| Grants payable | $0 |
| Deferred revenue | $37,325 |
| 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 | $122,841 |
| Net assets without donor restrictions | $486,620 |
| Net assets with donor restrictions | $425,155 |
| 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 | $1,034,616 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Lightweight Materials Manufacturing Innovation Institute Detroit, MI | $48,200,924 | $30,772,761 |
Industrial Technology Institute Plymouth, MI | $6,890,265 | $10,484,047 |
Battery Innovation Center Institute Inc Newberry, IN | $9,971,672 | $4,855,829 |
Additive Manufacturing Users Group Inc Milwaukee, WI | $3,328,250 | $3,683,925 |
American Conference Of Governmental Industrial Hygienists Inc Sharonville, OH | $1,119,864 | $2,375,200 |
Association For High Techology Distribution Waukesha, WI | $1,589,704 | $1,298,260 |
Midwest Energy Research Consortium Inc Milwaukee, WI | $2,074,471 | $1,456,728 |
Friction Materials Standards Auburn Hills, MI | $1,034,616 | $521,842 |
Alliance For Working Together Foundation Mentor, OH | $1,820,396 | $1,766,564 |
Ieom Society International Southfield, MI | $228,939 | $507,956 |
Ntma Workforce Development Cleveland, OH | $69,136 | $190,192 |
Precision Metalforming Association Educational Foundation Independence, OH | $2,730,586 | $263,868 |