Institute Of Shortening & Edible Oils Inc
- Assets
- $493.9k
- Revenue
- $734.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Washington, DC
- Founding
- 12/1942
- Data as of
- 05/2024
- EIN
- 53-0088243
Organization Overview
Institute Of Shortening & Edible Oils Inc is located in Washington, DC. The organization was established in 1942. According to its NTEE Classification (Y99) the organization is classified as: Mutual & Membership Benefit N.E.C., under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute Of Shortening & Edible Oils Inc 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 05/2024, Institute Of Shortening & Edible Oils Inc generated $734.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $788.5k during the year ending 05/2024. While expenses have increased by 5.6% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
INFORMATION SERVICES TO MEMBERS REPRESENTING REFINERS OF EDIBLE FATS AND OILS IN THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INFORMATION SERVICES TO MEMBERS OF SHORTENING & EDIBLE OILS INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Bunger Director | Trustee | 1 | $0 |
Andy Seagren Vice Chair | OfficerTrustee | 1 | $0 |
Brett Caplice Director | Trustee | 1 | $0 |
Brian Conn Director | Trustee | 1 | $0 |
Brian Scott Director | Trustee | 1 | $0 |
Chris Cline 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 | $722,364 |
| Investment income | $10,039 |
| 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 | $734,772 |
| 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. | $278,063 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,018 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55,595 |
| Fees for services: Accounting | $31,750 |
| Fees for services: Lobbying | $95,596 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $179,405 |
| Advertising and promotion | $0 |
| Office expenses | $2,331 |
| Information technology | $3,605 |
| Royalties | $0 |
| Occupancy | $32,723 |
| Travel | $2,870 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $52,897 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,773 |
| Insurance | $2,662 |
| All other expenses | $3,896 |
| Total functional expenses | $788,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,838 |
| Savings and temporary cash investments | $230,032 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $158,866 |
| 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 | $17,199 |
| Net Land, buildings, and equipment | $3,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $24 |
| Other assets | $61,246 |
| Total assets | $493,893 |
| Accounts payable and accrued expenses | $63,484 |
| 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 | $68,072 |
| Total liabilities | $131,556 |
| Net assets without donor restrictions | $362,337 |
| 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 | $493,893 |