Institute Of Gas Technology
- Assets
- $151.4m
- Revenue
- $118.0m
- Investments
- $21.0m
- Employees
- 375
- Location
- Des Plaines, IL
- Founding
- 08/1942
- Data as of
- 12/2023
- EIN
- 36-2170137
Organization Overview
Institute Of Gas Technology, operating under the name GTI Energy, is located in Des Plaines, IL. The organization was established in 1942. According to its NTEE Classification (U33) the organization is classified as: Chemistry & Chemical Engineering, under the broad grouping of Science & Technology and related organizations. As of 12/2023, GTI Energy employed 375 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. GTI Energy 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 12/2023, GTI Energy generated $118.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $117.2m during the year ending 12/2023. While expenses have increased by 4.7% per year over the past 7 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
GTI ENERGY SOLVES IMPORTANT ENERGY CHALLENGES WORLDWIDE, TURNING TECHNOLOGY AND INSIGHTS INTO SOLUTIONS THAT CREATE EXCEPTIONAL VALUE FOR OUR CUSTOMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORED ENERGY AND ENVIRONMENTAL RESEARCH AND DEVELOPMENT. PROGRAM SERVICES EXPENSES INCLUDE DIRECT COSTS ON PROJECTS ONLY AND EXCLUDE ALLOCATION OF ANY INDIRECT COSTS. ESTIMATED NUMBER OF CLIENTS: 316
EDUCATION PROGRAM AND SERVICES. PROGRAM SERVICES EXPENSES INCLUDE DIRECT COSTS ON PROJECTS ONLY, AND EXCLUDE ALLOCATION OF ANY INDIRECT COSTS. ESTIMATED NUMBER OF CLIENTS: 193
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr David C Carroll President & CEO - Former | 40 | $1,621,582 | |
Ms Paula A Gant President & CEO | Officer | 40 | $1,073,872 |
Mr James F Ingold SVP Of Finance, Treasurer, CFO | Officer | 40 | $641,681 |
Mr Quinton B Ford Svp, Tech Dev, Gen Counsel, Co | Officer | 40 | $633,951 |
Mr Ronald N Snedic Svp, Corporate Development | Officer | 40 | $622,246 |
Mr Michael A Rutkowski Officer - Former | 40 | $554,694 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pauley Erickson And Swanson Intellectual Prpty | 12/30/23 | $276,591 |
Tisha Schuller Strategic Consulting | 12/30/23 | $325,259 |
Plato Elearning Llc E-learning Products | 12/30/23 | $477,373 |
Deep Systems Llc It Network Support | 12/30/23 | $384,025 |
Optifuel Systems Llc Product Engineering | 12/30/23 | $262,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $43,707,996 |
| 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 | $43,707,996 |
| Total Program Service Revenue | $63,569,039 |
| Investment income | $1,348,464 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,329,572 |
| Net Rental Income | $558,646 |
| Net Gain/Loss on Asset Sales | $1,711,904 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $117,981,070 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,500 |
| 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. | $6,960,055 |
| Compensation of current officers, directors, key employees. | $5,908,634 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,982,240 |
| Pension plan accruals and contributions | $3,573,128 |
| Other employee benefits | $6,546,932 |
| Payroll taxes | $2,887,180 |
| Fees for services: Management | $1,691,612 |
| Fees for services: Legal | $246,350 |
| Fees for services: Accounting | $257,378 |
| Fees for services: Lobbying | $361,516 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,140 |
| Fees for services: Other | $41,234,865 |
| Advertising and promotion | $363,155 |
| Office expenses | $3,779,242 |
| Information technology | $1,993,796 |
| Royalties | $208,000 |
| Occupancy | $2,513,759 |
| Travel | $2,062,955 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $125,157 |
| Interest | $437,688 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,786,244 |
| Insurance | $743,308 |
| All other expenses | $147,587 |
| Total functional expenses | $117,215,320 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,753,831 |
| Savings and temporary cash investments | $796,096 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,068,952 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,358,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $786,309 |
| Net Land, buildings, and equipment | $9,490,933 |
| Investments—publicly traded securities | $63,142,825 |
| Investments—other securities | $20,972,767 |
| Investments—program-related | $0 |
| Intangible assets | $2,250,000 |
| Other assets | $13,769,474 |
| Total assets | $151,389,687 |
| Accounts payable and accrued expenses | $32,880,964 |
| Grants payable | $0 |
| Deferred revenue | $20,206,234 |
| 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 | $8,500,000 |
| Other liabilities | $1,186,037 |
| Total liabilities | $62,773,235 |
| Net assets without donor restrictions | $88,616,452 |
| 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 | $151,389,687 |
Grants Awarded
Over the last fiscal year, Institute Of Gas Technology has awarded $80,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LEHIGH UNIVERSITY PURPOSE: THE LEHIGH UNIVERSITY DONATION IS IN SUPPORT OF LEHIGH'S PASTEUR PHD PARTNERS (P3) PROGRAM. LEHIGH HAS PROPOSED, AND GTI HAS ACCEPTED THAT THE DONATION SHALL DIRECTED TO A P3 PROGRAM RESEARCH TOPIC THAT IS SCIENTIFIC IN NATURE AND GENERALLY IN THE AREA OF DATA-DRIVE INTERDEPENDENT ENERGY SYSTEMS. | $62,500 |
MIT ENERGY INITIATIVE PURPOSE: THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY ENERGY INITIATIVE DONATION IS IN SUPPORT OF THE 2023 C3E WOMEN IN CLEAN ENERGY SYMPOSIUM AND AWARDS. GTI ENERGY SPONSORSHIP ALLOWS TO DIRECTLY IMPACT AND SUPPORT DIVERSITY AND LEADERSHIP IN CLEAN ENERGY. | $18,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute Of Gas Technology Des Plaines, IL | $151,389,687 | $117,981,070 |
American Oil Chemists Society Champaign, IL | $3,948,410 | $5,375,503 |
Clean Fuels Alliance Foundation Jefferson City, MO | $440,425 | $830,633 |
American Chemical Society Ames, IA | $416,648 | $208,344 |
American Chemical Society Columbia, MO | $629,839 | $107,901 |
American Chemical Society Park Ridge, IL | $1,825,060 | $198,542 |
American Chemical Society Indianapolis, IN | $198,572 | $0 |
American Chemical Society Eureka, MO | $366,920 | $0 |
Society Of Cosmetic Chemists Chicago, IL | $365,914 | $0 |
Polymer Processing Society Madison, WI | $341,672 | $0 |
90th Division Association Nevada, IA | $21,858 | $0 |
Friends Of The Royal Society Of Chemistry Inc Milwaukee, WI | $29,306 | $553 |