Society Of Tribologists & Lubrication Engineers
- Assets
- $4.9m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 11
- Location
- Park Ridge, IL
- Founding
- 03/2001
- Data as of
- 06/2021
- EIN
- 36-2041016
Organization Overview
Society Of Tribologists & Lubrication Engineers is located in Park Ridge, IL. The organization was established in 2001. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 06/2021, Society Of Tribologists & Lubrication Engineers employed 11 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Society Of Tribologists & Lubrication Engineers 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, Society Of Tribologists & Lubrication Engineers generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $2.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE SCIENCE OF TRIBOLOGY AND THE PRACTICE OF LUBRICATION ENGINEERING IN ORDER TO FOSTER INNOVATION, IMPROVE THE PERFORMANCE OF EQUIPMENT AND PRODUCTS, CONSERVE RESOURCES, AND PROTECT THE ENVIRONMENT.
Describe the Organization's Program Activity:
THE SOCIETY PROVIDES EDUCATION TO MEMBERS AND NON-MEMBERS IN THE FIELDOF LUBRICATION ENGINEERING THROUGH MONTHLY AND QUARTERLY PERIODICALS,RESEARCH PUBLICATIONS AND ANNUAL CONFERENCES. AS A RESULT OF THE SPREAD OF THE COVID-19 CORONAVIRUS, THE SOCIETY CANCELLED THE ANNUAL MEETING WHICH WAS SCHEDULED TO OCCUR IN MAY 2020. IN ADDTION, OTHER CONFERENCES AND EVENTS NEEDED TO BE CONVERTED TO VIRTUAL CONFERENCES AND EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward P Salek Executive Director | Officer | 40 | $197,212 |
Michael Duncan Immediate Past President | OfficerTrustee | 2 | $0 |
Paul Hetherington President | OfficerTrustee | 2 | $0 |
Ryan Evans Secretary | OfficerTrustee | 2 | $0 |
Ken Hope Vice President | OfficerTrustee | 2 | $0 |
Hong Liang Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Walsworth Publishing Company Printing And Mailing Services | 6/29/21 | $186,657 |
Emerald Communications Marketing Services | 6/29/21 | $106,837 |
Image Audiovisuals Audio Visuals For Conferences | 6/29/21 | $118,075 |
Bacon-hedland Management Inc Meetings Management | 6/29/21 | $139,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $183,042 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,649 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $212,691 |
| Total Program Service Revenue | $1,962,243 |
| Investment income | $59,510 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,034 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $42,848 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,455 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,939,848 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,000 |
| Grants and other assistance to domestic individuals. | $14,050 |
| Grants and other assistance to Foreign Orgs/Individuals | $500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $232,038 |
| Compensation of current officers, directors, key employees. | $52,525 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $575,470 |
| Pension plan accruals and contributions | $25,921 |
| Other employee benefits | $117,392 |
| Payroll taxes | $53,273 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,696 |
| Fees for services: Accounting | $83,883 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,147 |
| Fees for services: Other | $0 |
| Advertising and promotion | $79,542 |
| Office expenses | $28,595 |
| Information technology | $55,440 |
| Royalties | $0 |
| Occupancy | $74,648 |
| Travel | $87 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $369,263 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,850 |
| Insurance | $10,999 |
| All other expenses | $81,566 |
| Total functional expenses | $2,492,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $611,101 |
| Savings and temporary cash investments | $65,532 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $135,823 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,286 |
| Prepaid expenses and deferred charges | $83,373 |
| Net Land, buildings, and equipment | $601,278 |
| Investments—publicly traded securities | $3,373,831 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,873,224 |
| Accounts payable and accrued expenses | $253,980 |
| Grants payable | $0 |
| Deferred revenue | $388,967 |
| 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 | $183,042 |
| Total liabilities | $825,989 |
| Net assets without donor restrictions | $4,047,235 |
| 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 | $4,873,224 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Society Of Tribologists & Lubrication Engineers has recieved totaling $20,433.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $19,433 |
Shell Oil Company Foundation Houston, TX PURPOSE: MG | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Soybean Alliance Inc Indianapolis, IN | $22,987,497 | $12,342,282 |
Leonard Wood Institute Inc Fort Leonard Wood, MO | $592,989 | $2,983,939 |
Society Of Tribologists & Lubrication Engineers Park Ridge, IL | $4,873,224 | $2,939,848 |
Lake Michigan Air Director Corsortium Hillside, IL | $327,093 | $1,851,632 |
American Meat Science Association Kearney, MO | $3,721,106 | $1,822,299 |
Fox-Wolf Watershed Alliance Inc Appleton, WI | $800,245 | $1,535,506 |
Iowa Association Of Soil Conservation District Commission Des Moines, IA | $294,043 | $1,193,352 |
Kentucky Dataseam Initiative Inc Louisville, KY | $783,269 | $732,080 |
Council For Agricultural Science And Technology Ames, IA | $1,145,971 | $794,483 |
National Association Of Rocketry Marion, IA | $328,509 | $639,191 |
American Society Of Andrology East Dundee, IL | $1,585,027 | $299,034 |
Association For Chemoreception Sciences Glenview, IL | $420,190 | $324,574 |