American Foundry Society
- Assets
- $6.3m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 31
- Location
- Schaumburg, IL
- Founding
- 12/1944
- Data as of
- 06/2023
- EIN
- 36-0725470
Organization Overview
American Foundry Society is located in Schaumburg, IL. The organization was established in 1944. 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 06/2023, American Foundry Society employed 31 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. American Foundry Society 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 06/2023, American Foundry Society generated $6.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $7.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, American Foundry Society has awarded 32 individual grants totaling $1,527,157. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE AMERICAN FOUNDRY SOCIETY IS TO ADVANCE THE SUCCESS OF ITS MEMBERS AND THE METALCASTING INDUSTRY THROUGH ADVOCACY, EDUCATION, AND INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAGAZINES - THE SOCIETY'S MAGAZINES DISSEMINATE INFORMATION ABOUT THE ADVANCEMENT OF THE SCIENCES RELATED TO THE MANUFACTURE AND UTILIZATION OF METALCASTING. MODERN CASTING IS PUBLISHED MONTHLY WITH A WORLDWIDE READERSHIP OF 20,000. CASTING SOURCE IS DISTRIBUTED TO APPROXIMATELY 10,500 READERS ON A BI-MONTHLY BASIS. MODERN CASTING AND CASTING SOURCE ARE PUBLISHED IN BOTH PRINT AND DIGITAL EDITIONS. THE INTERNATIONAL JOURNAL OF METALCASTING (PUBLISHED PAPERS FROM ACADEMIA AND INDUSTRY) IS CIRCULATED, EXCLUSIVELY IN A DIGITAL EDITION, TO APPROXIMATELY 500 READERS QUARTERLY.
CONVENTIONS & EXPOSITIONS
TECHNICAL SERVICES - PROVIDES ADMINISTRATIVE, MANAGEMENT, RESEARCH, AND TECHNICAL SUPPORT SERVICES TO THE METALCASTING INDUSTRY. SERVICES INCLUDE TECHNICAL COUNCIL, MANAGEMENT COUNCIL, COMMITTEES, RESEARCH SERVICES, TECHNOLOGY TRANSFER, AND INFORMATION TRANSFER. COUNCIL AND COMMITTEE REPRESENT ABOUT 775 VOLUNTEERS.
RESEARCH PROJECTS - COOPERATIVE RESEARCH AGREEMENTS WITH FOUNDRY INDUSTRY AND FEDERAL GOVERNMENT AGENCIES. PROJECTS ADMINISTERED BY THE SOCIETY ARE THOSE THAT WILL HAVE THE MOST IMPACT ON THE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradford Muller President | OfficerTrustee | 0.3 | $0 |
Angela Schmeisser Vice President | OfficerTrustee | 0.3 | $0 |
David Gilson 2nd Vice President (as Of 4/23) | OfficerTrustee | 0.3 | $0 |
Adam San Solo Immediate Past President | OfficerTrustee | 0.3 | $0 |
Michael L Lenahan Immediate Past Pres. (until 4/23) | OfficerTrustee | 0.3 | $0 |
Dr Laura Bartlett Director | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Product Development & Analysis Research Consultant Fees | 6/29/23 | $122,640 |
Potomac Government Relations Government Affairs Consulting Fees | 6/29/23 | $237,495 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,839,471 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $488,596 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,650 |
| Noncash contributions included in lines 1a–1f | $26,650 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,354,717 |
| Total Program Service Revenue | $4,074,884 |
| Investment income | $124,332 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $91,193 |
| Net Rental Income | $17,952 |
| Net Gain/Loss on Asset Sales | -$2,552 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $87,423 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,946,159 |
| 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. | $300,509 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,264,783 |
| Pension plan accruals and contributions | $43,625 |
| Other employee benefits | $423,469 |
| Payroll taxes | $193,268 |
| Fees for services: Management | $260,480 |
| Fees for services: Legal | $6,836 |
| Fees for services: Accounting | $39,195 |
| Fees for services: Lobbying | $319,659 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $254,304 |
| Advertising and promotion | $32,138 |
| Office expenses | $209,564 |
| Information technology | $323,126 |
| Royalties | $3,566 |
| Occupancy | $291,457 |
| Travel | $96,810 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,020,682 |
| Interest | $0 |
| Payments to affiliates | $76,193 |
| Depreciation, depletion, and amortization | $89,833 |
| Insurance | $44,978 |
| All other expenses | $26,650 |
| Total functional expenses | $7,211,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264,698 |
| Savings and temporary cash investments | $2,383,069 |
| Pledges and grants receivable | $10,747 |
| Accounts receivable, net | $308,257 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $108,921 |
| Prepaid expenses and deferred charges | $366,928 |
| Net Land, buildings, and equipment | $1,141,265 |
| Investments—publicly traded securities | $1,685,218 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,053 |
| Total assets | $6,284,156 |
| Accounts payable and accrued expenses | $647,667 |
| Grants payable | $0 |
| Deferred revenue | $1,141,080 |
| 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 | $526,123 |
| Total liabilities | $2,314,870 |
| Net assets without donor restrictions | $3,921,378 |
| Net assets with donor restrictions | $47,908 |
| 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 | $6,284,156 |
Grants Awarded
Over the last fiscal year, American Foundry Society has awarded $133,005 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ELEMENT MATERIALS TECHNOLOGY WIXOM INC PURPOSE: Research Activity | $37,400 |
PRODUCT DEVELOPMENT & ANALYSIS LLC PURPOSE: Research and development of metalcasting technology and processes | $89,080 |
NORTHWESTERN UNIVERSITY PURPOSE: Research Activity | $6,525 |