Bearing Specialists Association
- Assets
- $444.8k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Glen Ellyn, IL
- Founding
- 12/1967
- Data as of
- 06/2022
- EIN
- 36-6167647
Organization Overview
Bearing Specialists Association is located in Glen Ellyn, IL. The organization was established in 1967. According to its NTEE Classification (D03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Animal-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bearing Specialists Association 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 06/2022, Bearing Specialists Association generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BSA IS THE FORUM TO ENHANCE NETWORKING AND KNOWLEDGE SHARING TO PROMOTE THE SALES OF BEARINGS THROUGH AUTHORIZED DISTRIBUTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP CONVENTIONS: ATTENDED BY APPROX. 275 PERSONS; OPEN TO AUTHORIZED DISTRIBUTORS OF BEARING PRODUCTS AND INVITED SUPPLIERS OF THOSE PRODUCTS; EDUCATIONAL SEMINARS ARE HELD; FUTURE PLANS ARE DEVELOPED AND GOALS ARE REVIEWED; PREVIOUS YEARS RESULTS ARE CRITIQUED AND OFFICERS ARE ELECTED.
MANAGEMENT REPORT: (STATISTICAL) - ALL RELEVANT SALES DATA ARE COMPILED IN CONFIDENCE BY AN INDEPENDENT CPA FIRM; THE GENERIC RESULTS ARE THEN PRODUCED AND THESE SUMMARIES ARE MADE AVAILABLE TO ALL OF THE MEMBERSHIP; THESE REPORTS ARE ALSO MADE AVAILABLE, AND CAN BE OBTAINED BY ALL OF THE INDUSTRY.
EDUCATIONAL SERVICES AND PROGRAMS: THE RELATED COSTS OF LITERATURE WHICH ENCOMPASS BOTH TECHNICAL AND PROMOTIONAL MATERIALS AND ARTICLES; CERTIFICATION EXPENSES ARE ALSO INCLUDED WITHIN THIS CATEGORY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitch Bouchard President | OfficerTrustee | 1 | $0 |
Todd Hamlin Vice President | OfficerTrustee | 1 | $0 |
Jason Vasquez Treasurer | OfficerTrustee | 1 | $0 |
Jim Scardina Chairman Of The Board | OfficerTrustee | 1 | $0 |
John Masek Director | Trustee | 1 | $0 |
Bill Shepard 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,245,885 |
| Investment income | $569 |
| 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 | $1,248,054 |
| 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 | $208,000 |
| Fees for services: Legal | $19,638 |
| Fees for services: Accounting | $7,000 |
| 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 | $3,215 |
| Information technology | $12,442 |
| 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 | $1,039,234 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,035 |
| All other expenses | $2,750 |
| Total functional expenses | $1,328,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,788 |
| Savings and temporary cash investments | $321,649 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,781 |
| 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 | $40,574 |
| 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 | $444,792 |
| Accounts payable and accrued expenses | $35,818 |
| Grants payable | $0 |
| Deferred revenue | $33,580 |
| 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 | $69,398 |
| Net assets without donor restrictions | $375,394 |
| 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 | $444,792 |