Polymers Center Of Excellence Inc
- Assets
- $4.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 10
- Location
- Charlotte, NC
- Founding
- 05/2000
- Data as of
- 06/2024
- EIN
- 56-2126490
Organization Overview
Polymers Center Of Excellence Inc is located in Charlotte, NC. The organization was established in 2000. 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 06/2024, Polymers Center Of Excellence Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Polymers Center Of Excellence 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 06/2024, Polymers Center Of Excellence Inc generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $2.1m during the year ending 06/2024. 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
TO PROVIDE CONTINUING EDUCATION AND TECHNICAL SUPPORT TO PLASTICS PROCESSING INDUSTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
POLYMERS CENTER OF EXCELLENCE INC PROVIDES TRAINING PROGRAMS IN BOTH EXTRUSION AND INJECTION MOLDING AT POLYMERS CENTER OF EXCELLENCE'S FACILITIES AS WELL AS THE CUSTOMER'S PLANT SITES AND AT COMMUNITY COLLEGES. THE TOTAL NUMBER OF STUDENTS IS APPROXIMATELY SIX HUNDRED A YEAR.
DIRECTORY OF COMPANIES IN NC AND SC. REFERRAL BY POLYMERS CENTER TO COMPANIES IN THE REGION. ASSIST CLIENTS IN FINDING RESOURCES. PROVIDE APPLIED RESEARCH FOR THE INDUSTRY.
POLYMERS CENTER OF EXCELLENCE PROVIDES TECHNICAL SUPPORT FOR THE POLYMERS INDUSTRY UTILIZING PHONE, EMAIL, AND ON-SITE CALLS. TOTAL NUMBER OF PARTICIPANTS SERVICED IN A YEAR IS APPROXIMATELY 200.
POLYMERS CENTER OF EXCELLENCE PROVIDES MOLDING AND ANALYTICAL SUPPORT FOR THE POLYMERS INDUSTRY THROUGH ITS LAB SERVICES AND INJECTION MOLDING FACILITY. ANALYTICAL SUPPORT INCLUDES BASIC ANALYSIS OF THE POLYMER, FLOW PROPERTIES, ADDITIVE IDENTIFICATION AND PHYSICAL PROPERTIES. TOTAL NUMBER OF PARTICPANTS IS APPROXIMATELY 150.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H L Reese Board Member | Trustee | 1 | $0 |
Phil Mintz Vice Chairman | OfficerTrustee | 1 | $0 |
Jeff Raquet Board Member | Trustee | 1 | $0 |
Jeffrey Edge Board Member | Trustee | 1 | $0 |
Bill Murphy Board Member | OfficerTrustee | 1 | $0 |
Terry Peterson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $499,744 |
| 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 | $499,744 |
| Total Program Service Revenue | $1,575,258 |
| 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 | $2,075,002 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $180,790 |
| Other salaries and wages | $680,285 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $70,153 |
| Payroll taxes | $82,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $46,682 |
| Advertising and promotion | $47,496 |
| Office expenses | $18,714 |
| Information technology | $114,122 |
| Royalties | $0 |
| Occupancy | $100,038 |
| Travel | $43,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $67,477 |
| Payments to affiliates | $1,000 |
| Depreciation, depletion, and amortization | $55,269 |
| Insurance | $31,020 |
| All other expenses | $145,205 |
| Total functional expenses | $2,128,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,816,307 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $185,839 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,133,270 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $339,466 |
| Total assets | $4,474,882 |
| Accounts payable and accrued expenses | $47,955 |
| 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 | $1,227,181 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $66,728 |
| Total liabilities | $1,341,864 |
| Net assets without donor restrictions | $3,133,018 |
| 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 | $4,474,882 |