Modular Building Institute
- Assets
- $3.0m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 11/1984
- Data as of
- 12/2023
- EIN
- 57-0779460
Organization Overview
Modular Building Institute is located in Charlottesville, VA. The organization was established in 1984. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Modular Building Institute 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, Modular Building Institute generated $4.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $4.2m during the year ending 12/2023. While expenses have increased by 8.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR THE ORGANIZATION'S MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE SEEKS TO EXPAND THE OVERALL MARKET SHARE FOR MODULAR CONSTRUCTION BY REMOVING BARRIERS THAT LIMIT INDUSTRY GROWTH AS WELL AS THROUGH OUTREACH AND EDUCATION EFFORTS TO PROMOTE THE ADVANTAGES OF MODULAR CONSTRUCTION. MEMBERS OF BOTH THE RELOCATABLE BUILDINGS DIVISION AND THE PERMANENT MODULAR CONSTRUCTION DIVISION HAVE THE OPPORTUNITY TO PARTICIPATE IN VARIOUS BUSINESS DEVELOPMENT OFFERINGS AND TO HELP INFLUENCE THE REGULATORY CLIMATE. THE INSTITUTE HOSTS THE WORLD OF MODULAR ANNUAL CONVENTION AND TRADE SHOW THAT PROVIDES A PLACE FOR OVER 750 INDUSTRY PROFESSIONALS TO NETWORK WITH AND LEARN FROM INDUSTRY EXPERTS FROM AROUND THE WORLD, EXCHANGE IDEAS, AND DISPLAY NEW FACTORY-BUILT STRUCTURES. IN ADDITION, THE INSTITUTE'S SEALS PROGRAM IS THE COMMERCIAL MODULAR INDUSTRY'S ONLY LABELING PROGRAM DEDICATED TO PROMOTING HIGH STANDARDS OF HONESTY, INTEGRITY, PROFESSIONAL SERVICE, AND CONDUCT. THE SEALS PROVIDE MEMBERS WITH A VISIBLE SIGN OF THEIR COMMITMENT TO THE INSTITUTE'S CODE OF ETHICS AND CONDUCT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Wilmot Past Preside | OfficerTrustee | 1 | $0 |
Chuck Walen President | OfficerTrustee | 1 | $0 |
John Buongiorno Vice Preside | OfficerTrustee | 1 | $0 |
Stephen Shang Vice Preside | OfficerTrustee | 1 | $0 |
Alan Rasmussen Secretary | OfficerTrustee | 1 | $0 |
Matthew Slataper Treasurer | OfficerTrustee | 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 | $4,251,992 |
| Investment income | $15,061 |
| 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 | $4,267,053 |
| 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 | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,702,689 |
| Fees for services: Legal | $190 |
| Fees for services: Accounting | $14,700 |
| Fees for services: Lobbying | $239,582 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,936 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $48,115 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,599,355 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,445 |
| Insurance | $3,455 |
| All other expenses | $34,143 |
| Total functional expenses | $4,191,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,890,377 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $210 |
| 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 | $346,408 |
| Net Land, buildings, and equipment | $268,648 |
| Investments—publicly traded securities | $488,454 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $19,064 |
| Other assets | $0 |
| Total assets | $3,013,161 |
| Accounts payable and accrued expenses | $137,075 |
| Grants payable | $0 |
| Deferred revenue | $1,507,745 |
| 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 | $4,030 |
| Total liabilities | $1,648,850 |
| Net assets without donor restrictions | $1,364,311 |
| 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 | $3,013,161 |