Cast Metals Institute
- Assets
- $7.7m
- Revenue
- $540.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 07/1961
- Data as of
- 06/2023
- EIN
- 36-2491586
Organization Overview
Cast Metals Institute is located in Schaumburg, IL. The organization was established in 1961. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cast Metals 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 06/2023, Cast Metals Institute generated $540.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $656.0k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 8 years. 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 ADVANCE THE ARTS AND SCIENCES RELATING TO THE MANUFACTURE AND UTILIZATION OF METALCASTINGS THROUGH RESEARCH AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A TOTAL OF 433 STUDENTS ATTENDED 35 COURSES PRESENTED DURING THE FISCAL YEAR 2022-23, AS COMPARED TO THE PRIOR YEAR WHEN 485 STUDENTS ATTENDED 35 COURSES. COURSE OFFERINGS IN THE CURRENT YEAR INCLUDED VIRTUAL AND ON-SITE CLASSROOM, AS WELL AS IN-PLANT TRAINING. A TOTAL OF 77 COMPANIES HAD SUBSCRIPTIONS TO THE UNLIMITED E-LEARNING ACCESS SERVICE AT THE END OF THE FISCAL YEAR 2022-23.
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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 Immedate 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 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $626 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $626 |
| Total Program Service Revenue | $394,752 |
| Investment income | $183,488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$52,099 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $11,145 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $540,912 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $218,602 |
| Pension plan accruals and contributions | $4,277 |
| Other employee benefits | $41,348 |
| Payroll taxes | $16,495 |
| Fees for services: Management | $8,750 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,909 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,440 |
| Office expenses | $17,577 |
| Information technology | $12,642 |
| Royalties | $0 |
| Occupancy | $31,898 |
| Travel | $1,624 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,810 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,399 |
| Insurance | $5,438 |
| All other expenses | $0 |
| Total functional expenses | $656,027 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,182 |
| Savings and temporary cash investments | $350,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $440 |
| 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 | $3,901 |
| Net Land, buildings, and equipment | $16,448 |
| Investments—publicly traded securities | $7,337,192 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,774 |
| Total assets | $7,734,537 |
| Accounts payable and accrued expenses | $22,878 |
| Grants payable | $0 |
| Deferred revenue | $113,593 |
| 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 | $15,053 |
| Total liabilities | $151,524 |
| Net assets without donor restrictions | $7,346,830 |
| Net assets with donor restrictions | $236,183 |
| 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 | $7,734,537 |