American Bearing Manufacturers Association
- Assets
- $774.7k
- Revenue
- $661.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 02/1977
- Data as of
- 12/2022
- EIN
- 54-1024108
Organization Overview
American Bearing Manufacturers Association is located in Alexandria, VA. The organization was established in 1977. According to its NTEE Classification (D03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Animal-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Bearing Manufacturers Association 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 12/2022, American Bearing Manufacturers Association generated $661.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $617.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LEADERSHIP, ADVOCACY AND EDUCATION WITH A FOCUS ON MEMBERSHIP VALUE, INDUSTRY OUTREACH AND ISSUES IMPACTING THE GLOBAL BEARING INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN HONOR OF PROFESSOR TEDRIC A HARRIS, ABMA ESTABLISHED A PROGRAM FOR INTERNS OR CO-OP PARTICIPANTS AT ABMA MEMBER COMPANIES IN 2011. IN 2022, ABMA AWARDED TWO $2,500 SCHOLARSHIPS TO INDUSTRY INTERNS AT MEMBER COMPANIES.
ANNUAL MEETING: THE ANNUAL MEETING IS HELD EVERY SPRING AS A JOINT EVENT WITH THE AMERICAN GEAR MANUFACTURERS ASSOCIATION. THE MEETING INCLUDES NUMEROUS NETWORKING EVENTS, COMMITTEE MEETINGS, A BOARD MEETING, AND A NUMBER OF KEYNOTE SPEAKERS. REGISTRATION IS OPEN TO EMPLOYEES OF ABMA MEMBER COMPANIES.
STANDARDS: ABMA PUBLISHES A COMPLETE SET OF INDUSTRY STANDARDS FOR BEARINGS. THESE STANDARDS WERE EITHER DRAFTED BY ABMAS BEARING TECHNICAL COMMITTEE (BTC) OR NATIONALLY ADOPTED FROM THE INTERNATIONAL ORGANIZATION FOR STANDARDIZATION (ISO). THE STANDARDS ARE DISTRIBUTED ANNUALLY TO THE MEMBER COMPANIES, AND ARE AVAILABLE FOR PURCHASE FOR NONMEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Richey Director | Trustee | 2 | $0 |
Robert Komasara Director | Trustee | 2 | $0 |
Eric Ovendorf Director | Trustee | 2 | $0 |
Brian Parsons Director | Trustee | 2 | $0 |
Alejandro Pardinas Director | Trustee | 2 | $0 |
Pete Eich Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $509,861 |
| 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 | $509,861 |
| Total Program Service Revenue | $141,616 |
| Investment income | $10,235 |
| 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 | $661,712 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Management | $274,986 |
| Fees for services: Legal | $36,815 |
| Fees for services: Accounting | $19,170 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,628 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $106,723 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,042 |
| All other expenses | $31,921 |
| Total functional expenses | $617,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $442,278 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,936 |
| 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 | $50,350 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $254,184 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $774,748 |
| Accounts payable and accrued expenses | $67,516 |
| Grants payable | $0 |
| Deferred revenue | $196,907 |
| 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 | $0 |
| Total liabilities | $264,423 |
| Net assets without donor restrictions | $510,325 |
| 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 | $774,748 |