Amt-The Association For Manufacturing Technology
- Assets
- $50.8m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 70
- Location
- Mclean, VA
- Founding
- 04/1968
- Data as of
- 12/2023
- EIN
- 52-0859087
Organization Overview
Amt-The Association For Manufacturing Technology is located in Mclean, VA. The organization was established in 1968. 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 12/2023, Amt-The Association For Manufacturing Technology employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Amt-The Association For Manufacturing Technology 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 12/2023, Amt-The Association For Manufacturing Technology generated $6.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $22.0m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE PROFITABILITY AND COMPETITIVENESS OF THE INDUSTRY (CONTINUED ON SCHEDULE O)BY PROVIDING THE PRODUCTS AND SERVICES NEEDED TO BE SUCCESSFUL IN THE GLOBAL MARKETPLACE, AND BY PROMOTING THE INDUSTRY AND SERVING AS ITS ADVOCATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OAMT CONTINUED ITS EFFORTS INTO MEMBER OUTREACH, HELPING MEMBER COMPANIES FIND NEW MARKETS, NEW CUSTOMERS, AND NEW APPROACHES FOR MARKETING THEIR PRODUCTS AND SERVICES. ALL THREE ESTABLISHED TECH CENTERS (ONE EACH IN CHINA, MEXICO AND INDIA) CONTINUE TO ASSIST A GROWING NUMBER OF MEMBER COMPANIES PURSUING INTERNATIONAL MARKETS BY PROVIDING PROXY HIRE SERVICES, OFFICE SPACE, SERVICE TECHNICIANS, AND OTHER SERVICES TO U.S. MEMBERS OPERATING IN THOSE COUNTRIES.
SEE SCHEDULE OAMT CONDUCTS MEETINGS, SEMINARS AND LEADERSHIP FORUMS TO SUPPORT AND GROW THE MANUFACTURING TECHNOLOGY INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Bailey Ex-Officio | Trustee | 1 | $0 |
Paul Ricard Ex-Officio | Trustee | 1 | $0 |
Daniel Janka Chairman | OfficerTrustee | 1 | $0 |
Michael Cicco Vice Chairman | OfficerTrustee | 1 | $0 |
Greg Volovic Secretary | OfficerTrustee | 1 | $0 |
Gregory Buck Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Path To Progress Llc Ams Systems | 12/30/23 | $306,000 |
Grant Thornton Llp Audit And Tax | 12/30/23 | $173,439 |
Global Business Advisory Services Consulting Services | 12/30/23 | $126,000 |
William & Valerie Sobel Llc It Services | 12/30/23 | $234,000 |
Cooley Godward Kronish Llp Legal Services | 12/30/23 | $106,847 |
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 | $6,323,415 |
| Investment income | $472,850 |
| 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 | $2,433 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,801,163 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $37,500 |
| 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. | $1,546,474 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,933,273 |
| Pension plan accruals and contributions | $296,924 |
| Other employee benefits | $1,379,749 |
| Payroll taxes | $598,690 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $119,603 |
| Fees for services: Accounting | $158,239 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $103,984 |
| Fees for services: Other | $1,381,450 |
| Advertising and promotion | $81,984 |
| Office expenses | $474,127 |
| Information technology | $1,378,684 |
| Royalties | $0 |
| Occupancy | $916,577 |
| Travel | $1,097,994 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,702,995 |
| Interest | $173,194 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,212 |
| Insurance | $212,641 |
| All other expenses | $0 |
| Total functional expenses | $21,991,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,654,120 |
| Savings and temporary cash investments | $107,194 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,162,959 |
| 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 | $857,537 |
| Net Land, buildings, and equipment | $298,393 |
| Investments—publicly traded securities | $18,792,021 |
| Investments—other securities | $0 |
| Investments—program-related | $21,654,512 |
| Intangible assets | $0 |
| Other assets | $6,263,273 |
| Total assets | $50,790,009 |
| Accounts payable and accrued expenses | $17,900,634 |
| Grants payable | $0 |
| Deferred revenue | $1,417,234 |
| 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 | $2,750,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,045,143 |
| Total liabilities | $31,113,011 |
| Net assets without donor restrictions | $19,676,998 |
| 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 | $50,790,009 |
Grants Awarded
Over the last fiscal year, Amt-The Association For Manufacturing Technology has awarded $37,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL INSTITUTE OF METAL WORKING SKILLS INC PURPOSE: SUSTAINING SUPPORT | $12,500 |
SKILLSUSA INC PURPOSE: SUSTAINING SUPPORT | $25,000 |