Precision Metal Forming Association
- Assets
- $17.7m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 36
- Location
- Independence, OH
- Founding
- 01/1946
- Data as of
- 03/2023
- EIN
- 34-0639124
Organization Overview
Precision Metal Forming Association is located in Independence, OH. The organization was established in 1946. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 03/2023, Precision Metal Forming Association employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Precision Metal Forming Association 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 03/2023, Precision Metal Forming Association generated $6.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $6.8m during the year ending 03/2023. While expenses have increased by 2.6% 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
TO REPRESENT THE METALFORMING INDUSTRY AND LEAD INNOVATIVE COMPANIES TOWARD SUPERIOR COMPETITIVENESS AND PROFITABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CO-SPONSOR OF THE ANNUAL FABTECH EXHIBITION, THE LARGESTMETALFORMING, FABRICATING, WELDING AND METAL FINISHING TRADESHOWIN NORTH AMERICA. PROVIDE LEARNING OPPORTUNITIES INCLUDINGTECHNICAL EDUCATION TO THE METALFORMING AND FABRICATING INDUSTRIESTHROUGH SEMINARS, WEBINARS, ROUNDTABLES AND SIGNATURE EVENTSTARGETING SENIOR AND MIDDLE MANAGEMENT ALONG WITH SALES ANDTECHNICAL/ENGINEERING PERSONNEL.
DELIVER MEMBERSHIP SERVICES, PRODUCTS AND PUBLICATION SUCH ASSAFETY INFORMATION, DISTRICT NETWORKING AND TECHNICAL MEETINGS IN16 GEOGRAPHICAL REGIONS AND IN SEVERAL METALFORMING TECHNOLOGYAREAS, INCLUDING METAL STAMPING, DEEP DRAW, HIGH SPEED STAMPING,PRECISION SHEET METAL FABRICATING, METAL SPINNING, SLIDE FORMINGAND ROLL FORMING TECHNOLOGIES, ALONG WITH INDUSTRY BENCHMARKINGDATA, FINANCIAL REPORTS AND WAGE/FRINGE BENEFIT REPORTS. DEVELOPAND DELIVER TECHNICAL TRAINING IN CORE METALFORMING TECHNOLOGIESTO HELP WITH WORKFORCE TRAINING AND DEVELOPMENT.
REPRESENT THE METALFORMING INDUSTRY IN REGULATORY AND LEGISLATIVEMATTERS IMPACTING MANUFACTURERS OF METAL PARTS, ASSEMBLIES ANDCOMPONENTS PRIMARILY AT THE FEDERAL LEVEL. PROMOTE THE USE OFSKILL STANDARDS AND ENVIRONMENTALLY SOUND, EFFICIENT AND SAFEWORKPLACES TO HELP THE INDUSTRY COMPETE IN THE GLOBAL MARKETPLACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Klotz President | OfficerTrustee | 40 | $396,003 |
Peter Bodi Mfg Member | Trustee | 1 | $0 |
Teresa Schell Director | Trustee | 1 | $0 |
Steve Peplin Director | Trustee | 1 | $0 |
Stephanine Ingalls Director | Trustee | 1 | $0 |
Scott Wendelburg Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trade Show Consulting Llc Consulting | 3/30/23 | $262,500 |
Bracewell Llp Consulting | 3/30/23 | $143,483 |
The Franklin Partnership Professional Services | 3/30/23 | $163,236 |
180 Skills Llc Technical Education | 3/30/23 | $103,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $729,547 |
| 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 | $729,547 |
| Total Program Service Revenue | $5,378,022 |
| Investment income | $213,157 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $28,502 |
| Net Rental Income | $100,821 |
| Net Gain/Loss on Asset Sales | $227,819 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,814,130 |
| 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. | $837,081 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,554,178 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $97,114 |
| Other employee benefits | $151,506 |
| Payroll taxes | $165,240 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $386,645 |
| Fees for services: Accounting | $28,827 |
| Fees for services: Lobbying | $270,734 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,906 |
| Fees for services: Other | $132,129 |
| Advertising and promotion | $44,301 |
| Office expenses | $173,620 |
| Information technology | $169,749 |
| Royalties | $0 |
| Occupancy | $201,897 |
| Travel | $224,690 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,538,147 |
| Interest | $22,272 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $434,522 |
| Insurance | $17,402 |
| All other expenses | $25,385 |
| Total functional expenses | $6,771,057 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,872,643 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,072,148 |
| 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 | $246,220 |
| Net Land, buildings, and equipment | $4,155,039 |
| Investments—publicly traded securities | $8,329,762 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,675,812 |
| Accounts payable and accrued expenses | $632,255 |
| Grants payable | $0 |
| Deferred revenue | $2,472,735 |
| 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 | $3,104,990 |
| Net assets without donor restrictions | $14,570,822 |
| 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 | $17,675,812 |