Pressure Sensitive Tapt Council Inc
- Assets
- $821.1k
- Revenue
- $552.8k
- Investments
- $709.0k
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 02/1955
- Data as of
- 12/2021
- EIN
- 36-6109280
Organization Overview
Pressure Sensitive Tapt Council Inc is located in Chicago, IL. The organization was established in 1955. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, 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. Pressure Sensitive Tapt Council 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 12/2021, Pressure Sensitive Tapt Council Inc generated $552.8k 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 (11.2%) each year. All expenses for the organization totaled $681.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PSTC IS RECOGNIZED AS THE INFLUENTIAL NORTH AMERICAN TRADE ASSOCIATION OF WORLD-CLASS PRESSURE SENSITIVE ADHESIVE TAPE MANUFACTURERS AND THEIR SUPPLIERS, WHOSE GOAL IS TO INCREASE THE GLOBAL USAGE OF PSA TAPE PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNICAL SEMINAR/TAPE SUMMIT: EACH YEAR, PSTC REVIEWS NUMEROUS PAPERS ON THE LATEST SCIENTIFIC AND MANUFACTURING DEVELOPMENTS IN THE PRESSURE SENSITIVE ADHESIVE TAPE INDUSTRY. THOSE THAT MEET ITS QUALITY STANDARDS ARE SELECTED FOR PRESENTATION AT THE ANNUAL TECHNICAL SEMINAR/TAPE SUMMIT AND PRINTED IN THE PROCEEDINGS. THESE EVENTS WERE NOT HELD AS IN-PERSON EVENTS IN 2021 DUE TO THE COVID-19 PANDEMIC. THE TAPE SUMMIT WAS HELD AS A VIRTUAL EVENT IN 2021.
TAPE UNIVERSITY: PSTC PRODUCES TRADITIONAL 2 LEVEL PSA TAPE TRAINING CLASSES AVERAGING ABOUT 30-40 ATTENDEES PER CLASS.
ANNUAL MEETING: A FIVE DAY PROGRAM CONSISTING OF TWO DAYS OF TAPE TRAINING CLASSES FOLLOWED BY A THREE DAY TECHNICAL SEMINAR. THE SEMINAR HAS BECOME A GLOBAL INDUSTRY PLATFORM TO EXCHANGE TECHNICAL PAPERS, DISCUSSING ADVANCES IN THE TECHNOLOGY OF PSA TAPES. THE SEMINAR HOSTS ABOUT 25 TECHNICAL PAPERS, A POSTER SESSION AND A SMALL 3 HOUR LUNCH WITH EXHIBITORS. ATTENDANCE AVERAGES ABOUT 350 WITH 50 EXHIBIT BOOTHS. THE ANNUAL MEETING WAS HELD AS AN IN-PERSON EVENT IN 2021.
PRINTED MATTER, SPRING MEETING AND CERTIFICATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Laforge Treasurer | OfficerTrustee | 1 | $0 |
Jonathan Hirsh Vice President | OfficerTrustee | 1 | $0 |
Michel Merkx Past President | OfficerTrustee | 1 | $0 |
Joe Tocci President | OfficerTrustee | 1 | $0 |
Michelle Miller Executive Vice President | Officer | 40 | $0 |
Nick Odomirok Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kellen Company Management Services & Pr Fees | 12/30/19 | $501,688 |
Baltimore Waterfront Marriott Technical Seminar/tape Summit | 12/30/19 | $159,786 |
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 | $526,372 |
| Investment income | $12,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,371 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $552,822 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $399,688 |
| Fees for services: Legal | $1,738 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,345 |
| Fees for services: Other | $119,817 |
| Advertising and promotion | $2,860 |
| Office expenses | $6,000 |
| Information technology | $10,426 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $101,755 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,556 |
| Insurance | $2,595 |
| All other expenses | $0 |
| Total functional expenses | $681,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,649 |
| Savings and temporary cash investments | $9,083 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,627 |
| 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 | $40,770 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $708,961 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $821,090 |
| Accounts payable and accrued expenses | $47,894 |
| Grants payable | $0 |
| Deferred revenue | $246,249 |
| 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 | $294,143 |
| Net assets without donor restrictions | $526,947 |
| 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 | $821,090 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
Greater Milwaukee Convention & Visitors Bureau Inc Milwaukee, WI | $13,303,680 | $5,924,757 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
International Society Of Transport Aircraft Traders Chicago, IL | $15,949,487 | $6,305,891 |
Indiana Association Of Realtors Inc Indianapolis, IN | $16,694,252 | $6,642,922 |
Better Business Bureau Of Greater St Louis Inc St Louis, MO | $4,281,553 | $5,139,066 |
Louisville Chamber Of Commerce Inc Louisville, KY | $4,510,911 | $5,726,033 |
Springfield Convention And Visitors Springfield, MO | $1,284,082 | $4,581,352 |