Composite Recycling Technology Center
- Assets
- $3.7m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 30
- Location
- Port Angeles, WA
- Founding
- 01/2017
- Data as of
- 12/2022
- EIN
- 47-5271830
Organization Overview
Composite Recycling Technology Center is located in Port Angeles, WA. The organization was established in 2017. According to its NTEE Classification (C27) the organization is classified as: Recycling, under the broad grouping of Environment and related organizations. As of 12/2022, Composite Recycling Technology Center employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Composite Recycling Technology Center 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 12/2022, Composite Recycling Technology Center generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 6.5% per year over the past 5 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
RECYCLE AND RE-PURPOSE CARBON FIBER SCRAP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CEF4- CLEAN ENERGY FUND 4 GRANT MONIES RECEIVED TO SUPPORT AND INVEST IN CAPITAL EQUIPMENT FOR THE RE-PURPOSING AND MANUFACTURING OF CARBON COMPOSITE SCRAP. SIGNIFICANT PROGRESS WAS MADE IN 2022. THIS GRANT WILL BE COMPLETED BY 12/31/23.
OTHER EXPENSES ARE RELATED TO MINOR PROGRAM SERVICES, PRODUCTION AND MANUFACTURING
DEPARTMENT OF DEFENSE MILITARY CONTRACT TO EVALUATE THE APPLICATION OF RECYCLED CARBON FIBER IN MILITARY HOUSING.
CEF3 - CLEAN ENERGY FUND 3 GRANT MONIES RECEIVED TO SUPPORT AND INVEST IN CAPITAL EQUIPMENT FOR THE RE-PURPOSING AND MANUFACTURING OF CARBON COMPOSITE SCRAP. THIS GRANT WAS COMPLETED IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Walter Chief Executive Officer | Officer | 60 | $101,600 |
Loren Lyon Chairman | Trustee | 2 | $0 |
Tia Benson Tolle Director | Trustee | 2 | $0 |
Steven Van Dyck Director | Trustee | 2 | $0 |
Elizabeth Andreini Director | Trustee | 2 | $0 |
Nobuyuki Odagiri Treasurer | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,327,360 |
| All other contributions, gifts, grants, and similar amounts not included above | $109,588 |
| Noncash contributions included in lines 1a–1f | $109,410 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,436,948 |
| Total Program Service Revenue | $0 |
| Investment income | $2,217 |
| 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 | $964,146 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,412,191 |
| 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. | $113,335 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $798,636 |
| Pension plan accruals and contributions | $24,129 |
| Other employee benefits | $57,941 |
| Payroll taxes | $100,048 |
| Fees for services: Management | $940 |
| Fees for services: Legal | $3,462 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $149,652 |
| Advertising and promotion | $7,364 |
| Office expenses | $5,601 |
| Information technology | $19,284 |
| Royalties | $0 |
| Occupancy | $174,218 |
| Travel | $23,210 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19,061 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $140,614 |
| Insurance | $6,072 |
| All other expenses | $99,547 |
| Total functional expenses | $2,013,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $272,444 |
| Savings and temporary cash investments | $152,888 |
| Pledges and grants receivable | $164,810 |
| Accounts receivable, net | $124,320 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,040,290 |
| Prepaid expenses and deferred charges | $378,801 |
| Net Land, buildings, and equipment | $1,508,226 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,812 |
| Total assets | $3,654,591 |
| Accounts payable and accrued expenses | $71,993 |
| 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 | $108,063 |
| Secured mortgages and notes payable | $1,889,647 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,002 |
| Total liabilities | $2,111,705 |
| Net assets without donor restrictions | $1,542,886 |
| 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 | $3,654,591 |