Precision Manufacturing Institute
- Assets
- $3.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 18
- Location
- Meadville, PA
- Founding
- 07/1996
- Data as of
- 06/2021
- EIN
- 25-1578241
Organization Overview
Precision Manufacturing Institute is located in Meadville, PA. The organization was established in 1996. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 06/2021, Precision Manufacturing Institute employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Precision Manufacturing Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Precision Manufacturing Institute generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.2m during the year ending 06/2021. 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
OPERATION OF A TRADE SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A FACILITY FOR THE DEVELOPMENT AND TEACHING OF MANUFACTURING TECHNOLOGIES AND PROCESSES THROUGH HANDS ON TRAINING AND CLASSROOM INSTRUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Lane School Direc | Trustee | 40 | $76,647 |
Mary Bula Board Member | Trustee | 1 | $0 |
Cheryl Ferry Board Member | Trustee | 1 | $0 |
Craig Newell Board Member | Trustee | 1 | $0 |
Ed Petrunak Secretary/tr | OfficerTrustee | 1 | $0 |
Lisa Pustelak Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $756,321 |
| Investment income | $154 |
| 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 | $1,720,780 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $510,168 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,072 |
| Payroll taxes | $43,196 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,083 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,700 |
| Advertising and promotion | $28,430 |
| Office expenses | $15,056 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $94,876 |
| Travel | $1,668 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $65,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $135,557 |
| Insurance | $21,266 |
| All other expenses | $0 |
| Total functional expenses | $1,177,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,754 |
| Savings and temporary cash investments | $37,154 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,526 |
| 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 | $2,459 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,270 |
| Total assets | $3,144,521 |
| Accounts payable and accrued expenses | $262,846 |
| Grants payable | $0 |
| Deferred revenue | $67,256 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $700,000 |
| Secured mortgages and notes payable | $1,437,706 |
| Unsecured mortgages and notes payable | $40,000 |
| Other liabilities | $0 |
| Total liabilities | $2,507,808 |
| 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 |
| Total liabilities and net assets/fund balances | $636,713 |