Mechanics Institute
- Assets
- $18.0m
- Revenue
- $1.4m
- Investments
- $12.3m
- Employees
- 33
- Location
- San Francisco, CA
- Founding
- 12/1935
- Data as of
- 08/2022
- EIN
- 94-1254644
Organization Overview
Mechanics Institute is located in San Francisco, CA. The organization was established in 1935. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 08/2022, Mechanics Institute employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mechanics Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2022, Mechanics Institute generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $2.2m during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 7 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
FOUNDED IN 1854, THE MECHANICS' INSTITUTE IS ONE OF THE OLDEST INSTITUTIONS ON THE WEST COAST OF THE UNITED STATES. ITS MISSION IS TO PROVIDE A CENTER FOR INTELLECTUAL AND CULTURAL ADVANCEMENT. LOCATED IN THE FINANCIAL DISTRICT OF SAN FRANCISCO, IT SERVES INDIVIDUALS AND FAMILIES THROUGHOUT THE BAY AREA OFFERING A VIBRANT LIBRARY WITH FULL-TIME PROFESSIONAL STAFF, EXPERT INSTRUCTION AND COMPETITION IN CHESS, AND A FULL CALENDAR OF ENGAGING CULTURAL EVENTS, PROGRAMS, AND CLASSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIBRARY - THE INSTITUTE MAINTAINS A COLLECTION OF APPROXIMATELY 10,000 NON-CIRCULATING BOOKS AND PERIODICALS AND MORE THAN 100,000 CIRCULATING BOOKS AND PERIODICALS, AS WELL AS REFERENCE AND RESEARCH SUPPORT SERVICES TO APPROXIMATELY 3,000 MEMBERS.
CHESS ROOM - THE INSTITUTE HOSTS CLASSES FOR CHILDREN AND ADULTS. IT ALSO HOLDS TOURNAMENTS, AND REVENUE FROM THESE EVENTS HELPS SUPPORT CHESS ACTIVITIES.
EVENTS - THE INSTITUTE HOSTS EDUCATIONAL AND CULTURAL EVENTS, CLASSES, AND PROGRAMS. ALL PROGRAMS ARE OPEN TO THE GENERAL PUBLIC AND MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheila Cunningham Trustee | Trustee | 1 | $0 |
Arnold Grisham Trustee | Trustee | 1 | $0 |
Laura Hamady Trustee | Trustee | 1 | $0 |
Mike Hilliard Trustee | Trustee | 1 | $0 |
Donald R Meyer Trustee | Trustee | 1 | $0 |
Jerry Moskowitz Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $197,673 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $428,253 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $625,926 |
| Total Program Service Revenue | $284,512 |
| Investment income | $28,338 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,867 |
| Net Gain/Loss on Asset Sales | $393,052 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,373,664 |
| 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. | $185,887 |
| Compensation of current officers, directors, key employees. | $185,887 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,173,921 |
| Pension plan accruals and contributions | $53,882 |
| Other employee benefits | $115,988 |
| Payroll taxes | $103,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,753 |
| Advertising and promotion | $33,879 |
| Office expenses | $0 |
| 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 | $715 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,111 |
| Insurance | $18,057 |
| All other expenses | $64,850 |
| Total functional expenses | $2,231,396 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,766,309 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $129,963 |
| Accounts receivable, net | $15,961 |
| 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 | $99,589 |
| Net Land, buildings, and equipment | $2,664,958 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $12,286,950 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,963,730 |
| Accounts payable and accrued expenses | $461,296 |
| Grants payable | $0 |
| Deferred revenue | $114,708 |
| 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 | $103,433 |
| Total liabilities | $679,437 |
| Net assets without donor restrictions | $13,028,534 |
| Net assets with donor restrictions | $4,255,759 |
| 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 | $17,963,730 |