Representative For German Industry And Trade
- Assets
- $658.8k
- Revenue
- $440.3k
- Investments
- $0.0
- Employees
- 8
- Location
- Washington, DC
- Founding
- 05/1992
- Data as of
- 12/2023
- EIN
- 52-1532143
Organization Overview
Representative For German Industry And Trade is located in Washington, DC. The organization was established in 1992. According to its NTEE Classification (Q51) the organization is classified as: International Economic & Trade Policy, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Representative For German Industry And Trade employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Representative For German Industry And Trade 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, Representative For German Industry And Trade generated $440.3k 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 (14.1%) each year. All expenses for the organization totaled $891.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.8%) 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 IMPROVE BUSINESS CONDITIONS BETWEEN THE UNITED STATES AND GERMANY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCACY FOR GERMAN COMPANIES IN WASHINGTON, DC - REPRESENTATIVE OF GERMAN INDUSTRY & TRADE (RGIT) REPRESENTS THE INTERESTS OF GERMAN BUSINESS, IN PARTICULAR THE MEMBERS OF DIHK AND BDI, BEFORE THE U.S. ADMINISTRATION, AND CONGRESS. RGIT IS OFFERING BUSINESS SERVICES SUCH AS COORDINATION AND PRODUCTION OF STATEMENTS, RESEARCHING INFORMATION, AND MONITORING BUSINESS INFORMATION ABOUT THE UNITED STATES. RGIT REGULARLY ORGANIZES EVENTS TO FOSTER THE TRANSATLANTIC EXCHANGE OF INFORMATION AND TO IMPROVE BILATERAL TRADE AND INVESTMENT RELATIONS.THESE EVENTS INCLUDE 1) EVENTS HIGHLIGHTING DIVERSE TRADE AND INVESTMENT ISSUES WITH EXPERTS IN TRANSATLANTIC TRADE AND ECONOMIC POLICY, 2) BRIEFINGS FOR SPECIAL GUESTS 3) ROUND TABLE DISCUSSIONS AS PART OF THE GERMAN-AMERICAN RELATIONS WITH POLITICAL AND INDUSTRY VISITORS FROM GERMANY 4) EVENTS EXPLAIN THE SITUATION OF GERMAN COMPANIES IN THE UNITED STATES, OCCASIONALLY IN COOPERATION WITH THE GERMAN-AMERICAN CHAMBER OF COMMERCE, 5) RGIT IS CONSIDERED A MEETING POINT FOR ADMINISTRATION, INDUSTRY, SCIENCE, POLITICAL INSTITUTIONS AND EXPERTS REGARDING TRANSATLANTIC ECONOMIC ISSUES.
PUBLICATIONS - OUR PUBLICATIONS "WASHINGTON NEWS" REPORT ON CURRENT POLITICAL, ECONOMIC, AND LEGISLATIVE DEVELOPMENTS IN THE UNITED STATES THAT ARE NOT OR RARELY COVERED IN OTHER MEDIA INFORMATION SERVICES BUT ARE RELEVANT FOR THE TRANSATLANTIC ECONOMY TO IMPROVE BILATERAL AND INVESTMENT RELATIONS. WE PROVIDE THE MEMBERS OF THE GERMAN-AMERICAN CHAMBERS OF COMMERCE AND OUR PARTNERS IN THE UNITED STATES WITH INFORMATION ABOUT THE GERMAN-AMERICAN ECONOMIC RELATIONS, FOR EXAMPLE REGIONAL DEVELOPMENTS, RELEVANT TO BOTH COUNTRIES AS WELL AS ABOUT ECONOMIC AND TRADE RELATIONS BETWEEN THE UNITED STATES AND GERMANY.
RGIT'S WEBSITE WWW.GERMANBUSINESSUSA.COM PROVIDES AN OVERVIEW OF THE POSITIVE CONTRIBUTIONS OF GERMAN-OWNED AFFILIATES TO THE US ECONOMY. IT SHOWS THE NUMBER OF JOBS CREATED IN EACH STATE AS WELL AS THE TRADE RELATIONS BETWEEN GERMANY AND EACH STATE BY SECTOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Morgan Secretary | Officer | 40 | $92,467 |
Silke Roberts-Schumacher Treasurer | Officer | 32 | $34,615 |
Dr Christoph Schemionek Director, President And CEO | OfficerTrustee | 14 | $0 |
Wolfgang Niedermark Director | Trustee | 1 | $0 |
Dr Martin Wansleben 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 | $430,720 |
| Investment income | $0 |
| 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 | $440,277 |
| 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. | $159,333 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $165,030 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,253 |
| Payroll taxes | $26,652 |
| Fees for services: Management | $123,115 |
| Fees for services: Legal | $6,362 |
| Fees for services: Accounting | $57,996 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,504 |
| Advertising and promotion | $0 |
| Office expenses | $24,353 |
| Information technology | $21,146 |
| Royalties | $0 |
| Occupancy | $188,678 |
| Travel | $22,404 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,009 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $891,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $242,061 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $28,589 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $388,117 |
| Total assets | $658,767 |
| Accounts payable and accrued expenses | $7,258 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $339,951 |
| Total liabilities | $347,209 |
| Net assets without donor restrictions | $311,558 |
| 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 | $658,767 |