Research Institute For Fragrance Materials Inc
- Assets
- $12.9m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 34
- Location
- Woodcliff Lake, NJ
- Founding
- 11/1967
- Data as of
- 12/2021
- EIN
- 22-1822067
Organization Overview
Research Institute For Fragrance Materials Inc is located in Woodcliff Lake, NJ. The organization was established in 1967. According to its NTEE Classification (U05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Research Institute For Fragrance Materials Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Research Institute For Fragrance Materials 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, Research Institute For Fragrance Materials Inc generated $12.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $10.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.7%) 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 ENGAGE IN RESEARCH AND EVALUATION OF FRAGRANCE MATERIALS THROUGH AN INDEPENDENT EXPERT PANEL, DETERMINE SAFETY IN USE, GATHER, ANALYZE AND PUBLISH SCIENTIFIC INFORMATION, DISTRIBUTE SCIENTIFIC DATA AND SAFETY ASSESSMENTS TO RIFM MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RIFM'S LARGEST SERVICE IS SCIENTIFIC PROGRAMS, WHICH CONSIST OF HUMAN HEALTH SCIENCES AND ENVIRONMENTAL SCIENCES. THESE PROGRAMS INVOLVE THE PLACEMENT OF STUDIES TO OBTAIN INFORMATION ON THE RAW MATERIALS USED BY THE FRAGRANCE INDUSTRY FOR USE IN DETERMINING SAFETY. DATA IS EVALUATED BY AN INDEPENDENT EXPERT PANEL. INFORMATION AND RECOMMENDATIONS ARE PUBLISHED IN THE PEER REVIEWED SCIENTIFIC LITERATURE AND THEN PROVIDED TO THE INTERNATIONAL FRAGRANCE ASSOCIATION (IFRA) FOR THEIR USE IN DEVELOPING THE IFRA STANDARDS TO BE UTILIZED BY THE FRAGRANCE INDUSTRY TO GUARANTEE THE SAFE USE OF SUCH MATERIALS IN PRODUCTS TO BE DISTRIBUTED TO CONSUMERS.
RIFM'S SECOND LARGEST PROGRAM SERVICE IS THE MAINTENANCE OF THE RIFM DATABASE ESTABLISHED IN 1984. INFORMATION IN THIS DATABASE IS AVAILABLE TO ALL RIFM MEMBER ORGANIZATIONS AND ALSO TO INDUSTRY ASSOCIATIONS AND OTHER INTERESTED PARTIES. THERE ARE OVER 75,000 REFERENCES AND 7,000 MATERIALS IN THIS DATABASE WHICH IS CONTINUOUSLY EVOLVING AND EXPANDING WITH THE ADDITION OF NEW UPDATED INFORMATION. FURTHER DETAILS CONCERNING EACH OF RIFM'S 4 TOP PROGRAMS ARE CONTAINED IN RIFM'S 2021 ANNUAL REPORT WHICH IS DISTRIBUTED TO ALL RIFM MEMBERS AND ASSOCIATED INDUSTRY GROUPS AND ON REQUEST TO THE PUBLIC. MUCH OF THE INFORMATION CONTAINED IN THIS REPORT IS ALSO ACCESSIBLE ON THE RIFM WEBSITE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr James Romine President | Officer | 40 | $284,452 |
Dr Anne Marie Api VP Human Health Sciences | Officer | 40 | $241,567 |
Christen Sachse-Vasquez Director Technical Information | Officer | 40 | $198,721 |
Steven Manzi Director-Finance & Administration | 40 | $169,158 | |
Danielle Botelho Safety Assessment Manager | 40 | $142,362 | |
Manoj Kumar Senior Associate Scientist | 40 | $120,707 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bioreliance Corp Research Consulting | 12/30/21 | $656,827 |
An-ex Analytical Services Ltd Research Consulting | 12/30/21 | $605,849 |
Eag Agroscience Research Consulting | 12/30/21 | $517,086 |
Institute For In Vitro Sciences Inc Research Consulting | 12/30/21 | $457,639 |
Sgs Harrison Research Research Consulting | 12/30/21 | $383,390 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $543,000 |
| 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 | $543,000 |
| Total Program Service Revenue | $11,471,988 |
| Investment income | $177,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $58,614 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,251,592 |
| 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 | $1,598 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $613,425 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,592,385 |
| Pension plan accruals and contributions | $205,346 |
| Other employee benefits | $304,737 |
| Payroll taxes | $252,005 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $235,860 |
| Fees for services: Accounting | $38,945 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,371 |
| Fees for services: Other | $444,528 |
| Advertising and promotion | $163,824 |
| Office expenses | $42,557 |
| Information technology | $406,490 |
| Royalties | $0 |
| Occupancy | $263,796 |
| Travel | $4,445 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,884 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,933 |
| Insurance | $104,012 |
| All other expenses | $239,608 |
| Total functional expenses | $10,761,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $491,499 |
| Savings and temporary cash investments | $4,970,947 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $135,827 |
| 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 | $154,290 |
| Net Land, buildings, and equipment | $184,607 |
| Investments—publicly traded securities | $6,973,545 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,276 |
| Total assets | $12,937,991 |
| Accounts payable and accrued expenses | $7,084,790 |
| Grants payable | $0 |
| Deferred revenue | $66,905 |
| 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 | $7,151,695 |
| Net assets without donor restrictions | $5,786,296 |
| 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 | $12,937,991 |
Endowment Analysis
| Beg. Balance | $7,425,600 |
| Earnings | $907,051 |
| Admin Expense | $41,519 |
| Ending Balance | $8,291,132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Jersey Innovation Institute Inc Newark, NJ | $15,517,542 | $28,426,314 |
Advanced Robotics For Manufacturing Institute Pittsburgh, PA | $8,985,791 | $26,581,090 |
University City Science Center Philadelphia, PA | $110,800,620 | $66,305,846 |
Research Institute For Fragrance Materials Inc Woodcliff Lake, NJ | $12,937,991 | $12,251,592 |
Sustainable Manufacturing Innovation Alliance Corp West Henrietta, NY | $5,170,750 | $6,786,054 |
Iup Research Institute Indiana, PA | $2,848,522 | $4,793,628 |
Mccourt Institute New York, NY | $300,000 | $5,000,000 |
Mipi Alliance Inc Piscataway, NJ | $8,458,712 | $3,844,753 |
Apprise Incorporated Princeton, NJ | $1,727,085 | $2,791,632 |
Solution Mining Research Institute Inc Clarks Summit, PA | $954,697 | $900,501 |
Human Computation Institute Ithaca, NY | $12,843 | $184,979 |
American Competitiveness Institute Philadelphia, PA | $891,007 | $22,328 |