Hand Tools Institute
- Assets
- $312.8k
- Revenue
- $338.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Tarrytown, NY
- Founding
- 01/1976
- Data as of
- 12/2022
- EIN
- 13-6158829
Organization Overview
Hand Tools Institute is located in Tarrytown, NY. The organization was established in 1976. According to its NTEE Classification (G51) the organization is classified as: Arthritis, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hand Tools Institute 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 12/2022, Hand Tools Institute generated $338.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $331.2k during the year ending 12/2022. While expenses have increased by 0.5% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE IS THE ENHANCEMENT OF THE HAND TOOLS INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES REFLECT STATISTICAL, PROMOTIONAL AND ADVISORY ACTIVITIES FOR THE HAND TOOLS INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ian Lang Ae Incorporated Vice President | Officer | 0 | $0 |
Richard Byrne Executive Direc | Officer | 0 | $0 |
Kevin Hornberger Martin Tool Secretary | Officer | 0 | $0 |
Jon Dearment Channellock Inc President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $337,964 |
| Investment income | $0 |
| 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 | $51 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $338,015 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $687 |
| Fees for services: Accounting | $8,000 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,587 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,035 |
| All other expenses | $14,942 |
| Total functional expenses | $331,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,543 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,572 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,114 |
| Prepaid expenses and deferred charges | $13,587 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $312,816 |
| Accounts payable and accrued expenses | $20,219 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $20,219 |
| Net assets without donor restrictions | $292,597 |
| 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 | $312,816 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hand Tools Institute Tarrytown, NY | $312,816 | $338,015 |
Emilys Pink Team Inc Holden, MA | $738 | $0 |
Martin A Posner Hand Foundation New York, NY | $1,392,345 | $45,549 |
Pediatric Spine Foundation Inc Ocean City, NJ | $39,209 | $0 |
The Foundation For Arthritis Treatment Smithtown, NY | $0 | $2,000 |
New York Sports Medicine Arthritis Research And Education Foundation New York, NY | $411 | $0 |