Accreditation Board For Engineering And Technology Inc
- Assets
- $26.2m
- Revenue
- $14.6m
- Investments
- $3.1m
- Employees
- 41
- Location
- Baltimore, MD
- Founding
- 04/1961
- Data as of
- 09/2023
- EIN
- 51-0243571
Organization Overview
Accreditation Board For Engineering And Technology Inc is located in Baltimore, MD. The organization was established in 1961. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 09/2023, Accreditation Board For Engineering And Technology Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accreditation Board For Engineering And Technology Inc 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 09/2023, Accreditation Board For Engineering And Technology Inc generated $14.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $13.8m during the year ending 09/2023. While expenses have increased by 3.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION AND ADVANCEMENT OF QUALITY STEM HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCREDITATION - ABET, A FEDERATION OF THE ENGINEERING AND TECHNICAL PROFESSIONS, EVALUATES ACADEMIC PROGRAMS IN ENGINEERING, ENGINEERING TECHNOLOGY, COMPUTING AND APPLIED NATURAL SCIENCE AT THE INVITATION OF INSTITUTIONS OF POSTSECONDARY EDUCATION THROUGHOUT THE WORLD. SUCH VOLUNTARY EVALUATIONS LEAD TO POSSIBLE ACCREDITATION OF EDUCATIONAL PROGRAMS AT THOSE INSTITUTIONS.
SOCIETY ACCREDITATION ACTIVITIES ADMINISTRATION - ABET FACILITATES THE DISCUSSIONS (THROUGH MEETINGS AND COMMUNICATIONS) AMONG THE MEMBER SOCIETIES WHICH ARE REPRESENTED ON THE ABET BOARD OF DELEGATES, IMPLEMENTS THE RESULTING CHANGES IN POLICIES AND PROCEDURES AS REACHED BY A CONSENSUS OF THE SOCIETY REPRESENTATIVES, AND ENSURES COMPLIANCE WITH CHANGES. ABET ALSO PROVIDES TRAINING, SYSTEMS AND WEB TOOLS TO ASSIST THE STAFF AND VOLUNTEERS OF THE MEMBER SOCIETIES IN THE FULFILLMENT OF THEIR OWN ACCREDITATION ACTIVITIES.
PROFESSIONAL OFFERINGS - WORKSHOPS FOR FACULTY, MEETINGS FOR PROFESSIONAL TECHNICAL SOCIETIES, AND PROVIDES SPEAKERS ON EDUCATION AND ACCREDITATION TOPICS, AS WELL AS, PRINT AND ON-LINE INFORMATIONAL NEWSLETTERS AND PUBLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
S K Ramesh President | OfficerTrustee | 1.5 | $0 |
Hamid Fonooni President-Elect | OfficerTrustee | 1.2 | $0 |
William J Wepfer Past President | OfficerTrustee | 1.9 | $0 |
Barbara Price Secretary | OfficerTrustee | 0.6 | $0 |
David Whitman Treasurer | OfficerTrustee | 0.9 | $0 |
Charles Menke At-Large Director | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tecta American East Roof Services | 9/29/20 | $114,480 |
Fidelity Mechanical Services Decking And Hvac | 9/29/20 | $227,720 |
Havtech Hvac | 9/29/20 | $151,000 |
Gloria Rogers Adjunct Consultant | 9/29/20 | $114,262 |
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 | $14,317,436 |
| Investment income | $353,328 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$56,927 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,613,853 |
| 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. | $1,257,726 |
| Compensation of current officers, directors, key employees. | $308,032 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,487,699 |
| Pension plan accruals and contributions | $248,040 |
| Other employee benefits | $430,906 |
| Payroll taxes | $321,733 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,888 |
| Fees for services: Accounting | $42,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,401 |
| Fees for services: Other | $1,319,158 |
| Advertising and promotion | $345,684 |
| Office expenses | $457,510 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $119,861 |
| Travel | $3,608,968 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,266,956 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $360,496 |
| Insurance | $103,910 |
| All other expenses | $0 |
| Total functional expenses | $13,796,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,901,391 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,487,353 |
| 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 | $1,851,131 |
| Net Land, buildings, and equipment | $3,375,558 |
| Investments—publicly traded securities | $6,904,902 |
| Investments—other securities | $3,097,021 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $538,143 |
| Total assets | $26,155,499 |
| Accounts payable and accrued expenses | $2,819,485 |
| Grants payable | $0 |
| Deferred revenue | $4,491,919 |
| 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 | $538,143 |
| Total liabilities | $7,849,547 |
| Net assets without donor restrictions | $18,305,952 |
| 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 | $26,155,499 |