Bifma International
- Assets
- $2.6m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Grand Rapids, MI
- Founding
- 02/1974
- Data as of
- 05/2022
- EIN
- 38-2019327
Organization Overview
Bifma International is located in Grand Rapids, MI. The organization was established in 1974. 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. As of 05/2022, Bifma International employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bifma International 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 05/2022, Bifma International generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.6m during the year ending 05/2022. While expenses have increased by 0.7% 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
BIFMA INTERNATIONAL'S MISSION IS TO LEAD, ADVOCATE, INFORM AND DEVELOP STANDARDS FOR THE NORTH AMERICAN OFFICE AND INSTITUTIONAL FURNITURE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES ADMINISTERED BY THE ASSOCIATION INCLUDE INDUSTRY OUTREACH: ADVOCACY - RELATIONS WITH REGULATORY AGENCIES AND LEGISLATIVE BODIES AND INFORMATION RESOURCES ON ISSUES AND REGULATIONS AFFECTING THE WORKPLACE MEMBERSHIP SERVICES - COMMUNICATION AND SERVICES FOR EVENTS AND ACTIVITIES INVOLVING THE ANNUAL NEOCON SHOW IN CHICAGO, THE ASSOCIATION'S ANNUAL MEMBERSHIP MEETING, VARIOUS SEMINARS AND TOUR EVENTS CONFLUENCE - DESIGN FOCUSED EXPERIENTIAL EVENT
PROGRAM SERVICES ADMINISTERED BY THE ASSOCIATION INCLUDE INFORMATION AND LEARNING: STATISTICAL - STATISTICAL PROGRAM ON THE FURNITURE INDUSTRY PERFORMANCE IN NORTH AMERICA LEADERSHIP CONFERENCE - ANNUAL INDUSTRY LEADERSHIP CONFERENCE
PROGRAM SERVICES ADMINISTERED BY THE ASSOCIATION INCLUDE TECHNICAL SERVICES: TECHNICAL SERVICES - DEVELOPMENT AND MAINTENANCE OF OFFICE FURNITURE PRODUCT SAFETY AND PERFORMANCE STANDARDS IN THE UNTED STATES OF AMERICA SUSTAINABILITY - ACTIVITIES, EDUCATIONAL EVENTS, SEMINARS, AND PROMOTIONAL ACTIVITIES INVOLVING THE BIFMA FURNITURE SUSTAINABILITY STANDARD
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deirdre Jimenez Pres/ceo & S | OfficerTrustee | 40 | $234,117 |
Jennifer Wammack Director Of | 40 | $118,441 | |
Steven Kooy Director Of | 40 | $118,350 | |
Kristie Juster Vice Preside | OfficerTrustee | 2 | $0 |
Franco Bianchi Treasurer | OfficerTrustee | 2 | $0 |
Jeff Lorenger President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $97,358 |
| 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 | $97,358 |
| Total Program Service Revenue | $1,862,766 |
| Investment income | $11,457 |
| 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 | $1,978,281 |
| 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. | $282,700 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $431,293 |
| Pension plan accruals and contributions | $18,350 |
| Other employee benefits | $30,891 |
| Payroll taxes | $46,533 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,230 |
| Fees for services: Accounting | $49,828 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $225,080 |
| Advertising and promotion | $33,507 |
| Office expenses | $24,471 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,937 |
| Travel | $20,819 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $233,940 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,961 |
| Insurance | $6,226 |
| All other expenses | $15,342 |
| Total functional expenses | $1,576,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101,315 |
| Savings and temporary cash investments | $1,876,939 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,091 |
| 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 | $51,876 |
| Net Land, buildings, and equipment | $1,761 |
| Investments—publicly traded securities | $526,391 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,867 |
| Other assets | $0 |
| Total assets | $2,579,240 |
| Accounts payable and accrued expenses | $60,226 |
| Grants payable | $0 |
| Deferred revenue | $142,817 |
| 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 | $203,043 |
| Net assets without donor restrictions | $2,371,229 |
| Net assets with donor restrictions | $4,968 |
| 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 | $2,579,240 |
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