Hydraulic Institute
- Assets
- $5.8m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 21
- Location
- Parsippany, NJ
- Founding
- 09/1997
- Data as of
- 12/2022
- EIN
- 22-3525903
Organization Overview
Hydraulic Institute is located in Parsippany, NJ. The organization was established in 1997. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Hydraulic Institute employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hydraulic 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, Hydraulic Institute generated $2.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $3.1m during the year ending 12/2022. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER DUES PROVIDE FUNDING USED BY THE ORGANIZATION TO FURTHER ITS MISSION INCLUDING DEVELOPING INDUSTRY STANDARDS FOR PUMP USERS WORLDWIDE AND TO DEVELOP EDUCATION PROGRAMS BENEFICIAL TO THE PUMP INDUSTRY, AS WELL AS PROVIDING OTHER MEMBER SERVICES
THE HYDRAULIC INSTITUTE PUBLISHES INDUSTRY STANDARDS, THE ENGINEERING DATA BOOK, SEALING GUIDELINES, THE LCC GUIDE, THE VSP GUIDE, THE OPTIMIZING SYSTEMS GUIDE, POWER PLANT GUIDELINE, PUMP TEST LAB APPROVAL GUIDE AND OFFERS SUBSCRIPTIONS TO ECONOMIC REPORTS ABOUT THE PUMPING INDUSTRY. THESE PUBLICATIONS PROVIDE INFORMATION FOR PUMP USERS TO ENABLE THEM TO MAXIMIZE EFFECTIVE APPLICATION TESTING, INSTALLATION, OPERATION AND MAINTENANCE OF PUMPS AND PUMPING SYSTEMS.
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Michaud Executive Director | 32 | $285,426 | |
Peter Gaydon Director Of Technical Affairs | 36 | $173,914 | |
Mike Reimers Controller | 32 | $111,681 | |
Denielle Giordano Director, Marketing And Events | 36 | $90,088 | |
Matt Derner Manager, Business Development | 11 | $29,432 | |
Scott King Treasurer | Trustee | 5 | $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 | $2,713,246 |
| Investment income | -$336,407 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $277,678 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,654,517 |
| 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. | $632,053 |
| Compensation of current officers, directors, key employees. | $88,487 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $357,487 |
| Pension plan accruals and contributions | $127,202 |
| Other employee benefits | $125,610 |
| Payroll taxes | $117,195 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,191 |
| Fees for services: Accounting | $11,900 |
| Fees for services: Lobbying | $120,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $229,472 |
| Advertising and promotion | $124,665 |
| Office expenses | $110,592 |
| Information technology | $95,476 |
| Royalties | $0 |
| Occupancy | $94,980 |
| Travel | $181,018 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $448,502 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,728 |
| Insurance | $32,086 |
| All other expenses | $0 |
| Total functional expenses | $3,126,172 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $696,604 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,246,834 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $669,385 |
| Inventories for sale or use | $58,777 |
| Prepaid expenses and deferred charges | $221,648 |
| Net Land, buildings, and equipment | $9,424 |
| Investments—publicly traded securities | $2,858,869 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,976 |
| Total assets | $5,778,517 |
| Accounts payable and accrued expenses | $692,366 |
| Grants payable | $0 |
| Deferred revenue | $1,580,452 |
| 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 | $2,272,818 |
| Net assets without donor restrictions | $3,505,699 |
| 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 | $5,778,517 |