Investment Casting Institute
- Assets
- $1.6m
- Revenue
- $1.5m
- Investments
- $602.2k
- Employees
- 7
- Location
- Montvale, NJ
- Founding
- 09/1997
- Data as of
- 12/2023
- EIN
- 23-7087832
Organization Overview
Investment Casting Institute is located in Montvale, 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 12/2023, Investment Casting Institute employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Investment Casting 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 12/2023, Investment Casting Institute generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 2.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O - DESCRIPTION FOR FORM 990, PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FALL TECHNICAL MEETING WAS OFFERED AS AN IN-PERSON EVENT IN 2023 AND WAS BRANDED AS THE 70TH ANNUAL TECHNICAL CONFERENCE AND EXPO ON INVESTMENT CASTING: ANNUAL MEETING WHICH FOCUSES ON THE TECHNICAL ISSUES IN THE INVESTMENT CASTING INDUSTRY. THE MEETING ALSO INCLUDES EXHIBITIONS BY THE INSTITUTE'S MEMBERS, AND A CONTEST IN WHICH ENTRIES ARE COMPONENTS AND APPLICATIONS THAT SHOWCASE THE INVESTMENT CASTING PROCESS OR SOLVE CUSTOMER PROBLEMS. THE PURPOSE OF THE CONTEST IS TO PROMOTE THE INVESTMENT CASTING PROCESS AND RECOGNIZE INNOVATION AND LEADERSHIP IN THE INDUSTRY.
ADDITIVE MANUFACTURING FOR INVESTMENT CASTING (AM4IC) SYMPOSIUM WAS OFFERED AS AN IN-PERSON EVENT IN 2023: THE AM4IC IS AN EDUCATIONAL SYMPOSIUM DESIGNED TO ADVANCE THE USE OF ADDITIVE MANUFACTURING IN THE INVESTMENT CASTING COMMUNITY. THIS TWO-DAY EVENT IS OPEN TO THE ENTIRE INDUSTRY REGARDLESS OF ASSOCIATION MEMBERSHIP, AND IS COMPRISED OF PRACTICAL MATERIALS PRESENTED BY FOUNDRIES AND INDUSTRY SUPPLIERS DETAILING SUCCESS STORIES, OVERCOMING CHALLENGES AND THE ROLE AM HAS PLAYED IN PROMOTING SUPPLY CHAIN RESILIENCE. THIS PROGRAM IS DESIGNED FOR AND IDEALLY SUITED TO ADVANCE THE INTEREST OF INVESTMENT CASTING SUPPLIERS, FOUNDRIES, BUYERS, USERS, DESIGNERS, AND SUPPLY CHAIN MANAGERS. KEY TOPICS INCLUDE THE ROLE AM HAS PLAYED IN MANUFACTURE OF COMPLEX GEOMETRIES, MEETING CUSTOMER REQUIREMENTS, BOTH SHORT AND LONG TERM AND ADVANCEMENT OF THE INDUSTRY.
TRAINING PROGRAMS IN 2023: THE INSTITUTE SPONSORED THE FOLLOWING TRAINING COURSES.THE INDUSTRY CERTIFICATION COURSE WAS OFFERED AS AN IN-PERSON EVENT IN 2023: THE INDUSTRY CERTIFICATION PROGRAM PROVIDES A WEEK OF INTENSIVE TRAINING INCLUDING CLASSROOM AND LABORATORY WORK. THIS PROGRAM IS OPEN TO EMPLOYEES OF ALL INSTITUTE MEMBERS AS WELL AS EMPLOYEES OF MEMBERS OF THE EUROPEAN INVESTMENT CASTERS' FEDERATION.THE PROCESS CONTROL SEMINAR WAS NOT OFFERED IN 2023: THE PROCESS CONTROL SEMINAR FOR INVESTMENT CASTING, INVOLVES TWO AND A HALF DAYS OF LECTURE AND WORKSHOP. THIS SEMINAR IS OPEN TO EMPLOYEES OF ALL INSTITUTE MEMBERS AS WELL AS EMPLOYEES OF MEMBERS OF THE EUROPEAN INVESTMENT CASTERS' FEDERATION.
SPRING MANAGEMENT MEETING HAS BEEN REBRANDED AS THE "BUSINESS & LEADERSHIP DEVELOPMENT CONFERENCE" WHICH WAS OFFERED AS AN IN-PERSON EVENT IN 2023: ANNUAL MEETING WHICH ADDRESSES THE MANAGEMENT CONCERNS OF INSTITUTE MEMBER COMPANIES. TOPICS RANGING FROM PERSONNEL ISSUES TO LABOR LAW AND THE ECONOMIC TO THE MARKET FOR INVESTMENT CASTINGS ARE INCLUDED IN THIS ANNUAL EVENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph E Fritz Executive Director, CEO | Officer | 40 | $218,574 |
Nipendra Singh President | OfficerTrustee | 2.56 | $0 |
Ty Ueland Vice President | OfficerTrustee | 0.29 | $0 |
John Marcin Past President | OfficerTrustee | 0.92 | $0 |
Al Torok Director | Trustee | 0.29 | $0 |
Bob Johnson Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $33,351 |
| 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 | $33,351 |
| Total Program Service Revenue | $1,494,433 |
| Investment income | $14,862 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,542,646 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,483 |
| Grants and other assistance to domestic individuals. | $7,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $293,647 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $297,728 |
| Pension plan accruals and contributions | $10,544 |
| Other employee benefits | $48,384 |
| Payroll taxes | $37,645 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,034 |
| Fees for services: Accounting | $50,535 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,138 |
| Advertising and promotion | $34,324 |
| Office expenses | $24,593 |
| Information technology | $38,053 |
| Royalties | $0 |
| Occupancy | $44,514 |
| Travel | $4,344 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $433,694 |
| Interest | $1,144 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,265 |
| Insurance | $18,651 |
| All other expenses | $7,137 |
| Total functional expenses | $1,546,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $276,890 |
| Savings and temporary cash investments | $163,107 |
| Pledges and grants receivable | $33,351 |
| Accounts receivable, net | $83,952 |
| 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 | $59,543 |
| Net Land, buildings, and equipment | $25,259 |
| Investments—publicly traded securities | $223,369 |
| Investments—other securities | $602,150 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,926 |
| Total assets | $1,553,547 |
| Accounts payable and accrued expenses | $68,330 |
| Grants payable | $0 |
| Deferred revenue | $125,848 |
| 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 | $177,901 |
| Total liabilities | $372,079 |
| Net assets without donor restrictions | $1,181,468 |
| 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 | $1,553,547 |