Institute Of Shortening & Edible Oils Inc
- Assets
- $500.1k
- Revenue
- $726.2k
- Investments
- $0.0
- Employees
- 5
- Location
- Washington, DC
- Founding
- 12/1942
- Data as of
- 05/2022
- 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. As of 05/2022, Institute Of Shortening & Edible Oils Inc employed 5 individuals. 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 05/2022, Institute Of Shortening & Edible Oils Inc generated $726.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $765.8k during the year ending 05/2022. While expenses have increased by 6.9% per year over the past 7 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
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kailee Tkacz Buller Pres & Secretary | OfficerTrustee | 40 | $242,134 |
Robert Reeves Former Officer | 0 | $108,915 | |
James Rea Treasurer | OfficerTrustee | 1 | $0 |
Dennis Tagarelli Chair | OfficerTrustee | 1 | $0 |
Darrik Bunker Director | Trustee | 1 | $0 |
Mark Cartwright 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 | $702,593 |
| Investment income | $6,069 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,578 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $726,240 |
| 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. | $269,988 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,052 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $115,018 |
| Payroll taxes | $16,881 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,331 |
| Fees for services: Accounting | $23,331 |
| Fees for services: Lobbying | $41,315 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $148,759 |
| Advertising and promotion | $0 |
| Office expenses | $4,783 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,311 |
| Travel | $11,073 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,756 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,654 |
| Insurance | $2,488 |
| All other expenses | $4,207 |
| Total functional expenses | $765,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,012 |
| Savings and temporary cash investments | $263,014 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,171 |
| 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 | $13,576 |
| Net Land, buildings, and equipment | $1,136 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,191 |
| Other assets | $0 |
| Total assets | $500,100 |
| Accounts payable and accrued expenses | $85,222 |
| Grants payable | $0 |
| Deferred revenue | $29,679 |
| 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 | $8,246 |
| Total liabilities | $123,147 |
| Net assets without donor restrictions | $376,953 |
| 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 | $500,100 |
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