Fp2 Inc
- Assets
- $94.0k
- Revenue
- $334.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Glen Ellyn, IL
- Founding
- 03/2010
- Data as of
- 12/2022
- EIN
- 36-4658147
Organization Overview
Fp2 Inc is located in Glen Ellyn, IL. The organization was established in 2010. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fp2 Inc 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 12/2022, Fp2 Inc generated $334.2k 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 (7.7%) each year. All expenses for the organization totaled $385.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.5%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND EDUCATE THE PUBLIC ON THE VALUE OF PAVEMENT PRESERVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SEEKS TO EDUCATE, INFLUENCE, AND INFORM THE PUBLIC, AGENCIES, TRADE ASSOCIATIONS, LEGISLATORS, AND PRESERVATION PARTNERSHIPS ABOUT THE BENEFITS OF PRESERVING OUR EXISTING HIGHWAY SYSTEM IN AN ACCEPTABLE MANNER TO USERS AND FREIGHT HAULERS. THE GOAL OF PRESERVATION IS ACHIEVED BY ADVOCATING NATIONAL POLICIES; BY PROMOTIONAL ACTIVITIES LIKE TRADE SHOWS AND OTHER VENUES; AND BY SUPPORTING RESEARCH PROGRAMS LIKE THE NATIONAL CENTER FOR PAVEMENT PRESERVATION AT MICHIGAN STATE UNIVERSITY IN ACCORDANCE WITH THE PRESERVATION RESEARCH ROADMAP RECENTLY PUBLISHED BY THE FEDERAL HIGHWAY ADMINISTRATION THROUGH GRANTS AND PROJECT SOLICITATIONS.
FUNDING OF A TEST TRACK ON WHICH DIFFERENT TYPES OF PAVEMENT VIABILITY STUDIES ARE CONDUCTED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Welborn Director | Trustee | 1 | $0 |
Bobby Betsold Director | Trustee | 1 | $0 |
Peter Grass Director | Trustee | 1 | $0 |
Dave Henderson Director | Trustee | 1 | $0 |
Dan Koeninger Director | Trustee | 1 | $0 |
Bob Huitt Director | 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 | $326,110 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $326,110 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $334,249 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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 | $87,767 |
| Fees for services: Legal | $21,971 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $68,886 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,600 |
| Office expenses | $63,814 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,553 |
| 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 | $0 |
| Insurance | $1,834 |
| All other expenses | $0 |
| Total functional expenses | $385,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,019 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $94,019 |
| Accounts payable and accrued expenses | $3,430 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,430 |
| Net assets without donor restrictions | $79,153 |
| Net assets with donor restrictions | $11,436 |
| 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 | $94,019 |
Grants Awarded
Over the last fiscal year, Fp2 Inc has awarded $78,407 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NCATMINNESOTA DEPARTMENT OF TRANSPORTATION PURPOSE: RESEARCH | $28,407 |
MICHIGAN STATE UNIVERSITY PURPOSE: RESEARCH | $50,000 |