American Society Of Mechanical Engineers
- Assets
- $177.6m
- Revenue
- $95.8m
- Investments
- $0.0
- Employees
- 457
- Location
- New York, NY
- Founding
- 10/1991
- Data as of
- 06/2021
- EIN
- 13-1623899
Organization Overview
American Society Of Mechanical Engineers is located in New York, NY. The organization was established in 1991. According to its NTEE Classification (U03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Science & Technology and related organizations. As of 06/2022, American Society Of Mechanical Engineers employed 457 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Society Of Mechanical Engineers is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, American Society Of Mechanical Engineers generated $95.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $87.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 7 years. 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
TO ADVANCE ENGINEERING FOR THE BENEFIT OF HUMANITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNICAL EVENTS & CONTENT AND INSTITUTES- ASME ANNUALLY PERFORMS RESEARCH ON TECHNICAL MECHANICAL ENGINEERING ISSUES, AND HOLDS TECHNICAL MEETINGS AND CONFERENCES FOR MECHANICAL ENGINEERS ON A VARITY OF MECHANICAL ENGINEERING TOPICS AND SUBJECTS.
STANDARDS OPERATIONS- ASME ESTABLISHES AND PUBLISHES PUBLIC SAFETY RELATED INDUSTRIAL AND MANUFACTURING CODES AND STANDARDS FOR THE DESIGN, MANUFACTURING, AND INSTALLATION OF MECHANICAL DEVICES. THE PRINCIPAL PRODUCT AFFECTING REVENUE AND EXPENSES IS THE SOCIETY'S BOILER AND PRESSURE VESSEL CODE (THE BOILER CODE).
ENGINEERING OPERATIONS- ASME HOSTS PROGRAMS UNDER WHICH A COMPANY OR AN INDIVIDUAL IS ASSESSED AND CERTIFIED BASED ON DEMONSTRATED ABILITY TO MEET THE REQUIREMENTS OF AN ASME STANDARD. THESE CONFORMITY ASSESSMENTS CONTINUE TO PROVIDE A SERVICE VITAL TO THE ENHANCEMENT OF PUBLIC SAFETY AND FACILITATION OF INTERNATIONAL COMMERCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mahantesh Hiremath President | OfficerTrustee | 4 | $0 |
Andrew Bicos Member-At-Large | Trustee | 4 | $0 |
Jared Oehring From 62022 Member-At-Large | Trustee | 4 | $0 |
Karen J Ohland From 111421 President Elect | Trustee | 4 | $0 |
Laura E Hitchcock End 62022 Member-At-Large | Trustee | 4 | $0 |
Patrick Vieth From 62022 Member-At-Large | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Acknowledge Digital Llc Marketing | 6/29/22 | $1,405,036 |
Ballard Spahr Llp Legal Services | 6/29/22 | $523,567 |
Patterson Belknap Webb & Tyler Llp Legal Services | 6/29/22 | $357,349 |
Charles A Picasso Consultant | 6/29/22 | $295,000 |
Earnezt Llc Marketing | 6/29/22 | $317,568 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,496,966 |
| Investment income | $1,664,296 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $33,670,002 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $434,854 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $988,109 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $95,811,317 |
| Statement of Expenses | |
|---|---|
| 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. | $3,290,488 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,242,152 |
| Pension plan accruals and contributions | $1,045,906 |
| Other employee benefits | $5,835,387 |
| Payroll taxes | $2,765,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,105,704 |
| Fees for services: Accounting | $177,973 |
| Fees for services: Lobbying | $322,321 |
| Fees for services: Fundraising | $182,937 |
| Fees for services: Investment Management | $255,080 |
| Fees for services: Other | $3,185,228 |
| Advertising and promotion | $3,147,784 |
| Office expenses | $385,259 |
| Information technology | $3,709,186 |
| Royalties | $0 |
| Occupancy | $6,345,148 |
| Travel | $48,630 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,617,761 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,426,367 |
| Insurance | $372,966 |
| All other expenses | $0 |
| Total functional expenses | $87,905,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,966,118 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,239,492 |
| 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 | $4,949,574 |
| Investments—publicly traded securities | $103,453,296 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,998,695 |
| Total assets | $177,574,778 |
| Accounts payable and accrued expenses | $21,829,195 |
| Grants payable | $0 |
| Deferred revenue | $40,237,308 |
| 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 | $62,066,503 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $115,508,275 |