The Steel Institute
- Assets
- $9.8m
- Revenue
- $1.2m
- Investments
- $9.3m
- Employees
- 3
- Location
- New York, NY
- Founding
- 11/1971
- Data as of
- 06/2022
- EIN
- 23-7112720
Organization Overview
The Steel Institute is located in New York, NY. The organization was established in 1971. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Steel Institute employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Steel 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 06/2022, Steel Institute generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. 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
PROMOTE THE USE OF STEEL IN NY CONSTRUCTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICATION "METALS IN CONSTRUCTION" IS A PUBLICATION DISTRIBUTED TO ARCHITECTS, OWNERS & UNION MEMBERS SHOWING WHAT A SPECIFIC PRODUCT CAN DO.
ADVERTISING PROGRAM-PROMOTES THE USE OF STEEL IN THE NEW YORK AREA OF CONSTRUCTION.
JOURNEY-MAN EXTENSION-A PROGRAM TO TEACH JOURNEYMEN WELDING TECHNIQUES AND PREPARE THEM FOR NY STATE AND NY CITY CERTIFICATION. ONCE CERTIFIED THIS PROGRAM REIMBURSES THE INDIVIDUAL FOR ANY COST
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Higbee Director Of Industry Devel | 20 | $228,109 | |
Jacquelyn Rivera Office Manager/cfo | 20 | $117,959 | |
Steven N Davi Executive Director | Officer | 20 | $74,255 |
Robert Samela Trustee | Trustee | 0.1 | $0 |
Jake Bidosky Trustee | Trustee | 0.1 | $0 |
Robert Weiss Trustee | Trustee | 0.1 | $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 | $938,508 |
| Investment income | $225,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,813 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,171,516 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $130,000 |
| 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. | $80,223 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,407 |
| Pension plan accruals and contributions | $51,579 |
| Other employee benefits | $72,539 |
| Payroll taxes | $13,216 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,722 |
| Fees for services: Accounting | $15,644 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,325 |
| Advertising and promotion | $87,692 |
| Office expenses | $12,958 |
| Information technology | $17,861 |
| Royalties | $0 |
| Occupancy | $130,728 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $198 |
| Interest | $0 |
| Payments to affiliates | $14,400 |
| Depreciation, depletion, and amortization | $12,466 |
| Insurance | $0 |
| All other expenses | $163,675 |
| Total functional expenses | $1,261,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,567 |
| Savings and temporary cash investments | $320,791 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $25,810 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,329,646 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,593 |
| Total assets | $9,800,407 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $9,800,407 |
| Total liabilities and net assets/fund balances | $9,800,407 |
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