Gear Research Institute
- Assets
- $2.5m
- Revenue
- $489.3k
- Investments
- $747.5k
- Employees
- 0
- Location
- State College, PA
- Founding
- 06/1984
- Data as of
- 08/2022
- EIN
- 36-3203075
Organization Overview
Gear Research Institute is located in State College, PA. The organization was established in 1984. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gear Research 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 08/2022, Gear Research Institute generated $489.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $560.7k during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COOPERATIVE PRECOMPETITIVE (FUNDAMENTAL) RESEARCH
Describe the Organization's Program Activity:
COOPERATIVE PRECOMPETITIVE (FUNDAMENTAL) RESEARCH WITH A FOCUS ON GEARING AND MECHANICAL TRANSMISSION FOR THE AEROSPACE INDUSTRY WITH A HEAVY EMPHASIS ON ADVANCEMENTS FOR THE UNITED STATES GOVERNMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Behrman Trustee & President | OfficerTrustee | 5 | $0 |
Geary Smith Trustee & Secretary | OfficerTrustee | 3 | $0 |
Colleen Tomasello Treasurer | OfficerTrustee | 3 | $0 |
John O'neil Trustee | Trustee | 1 | $0 |
Amir Aboutaleb Trustee | Trustee | 1 | $0 |
Avinash Singh Trustee | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $487,286 |
| Investment income | $1,985 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $489,271 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $64,500 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,895 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $495 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,540 |
| Insurance | $1,086 |
| All other expenses | $0 |
| Total functional expenses | $560,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,373 |
| Savings and temporary cash investments | $10 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,272,020 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $399,914 |
| Prepaid expenses and deferred charges | $15,357 |
| Net Land, buildings, and equipment | $6,120 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $747,531 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,533,325 |
| Accounts payable and accrued expenses | $101,872 |
| Grants payable | $0 |
| Deferred revenue | $2,126,595 |
| 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 | $2,228,467 |
| Net assets without donor restrictions | $0 |
| 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 | $218,781 |
| Retained earnings, endowment, accumulated income, or other funds | $86,077 |
| Total liabilities and net assets/fund balances | $2,533,325 |
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|---|---|---|
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