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The Transformer Association FY2021 filing

Not tax-deductible

Cleveland, OH501(c)(6)Mutual / membership EIN 23-7357964Revenue $124K in FY2021

On file with the IRStransformer-assn.org1300 Sumner Ave, 44115-2851 · Cleveland, OHTax-exempt since Oct 1974

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To strengthen the Transformer industry in north america and to be the voice of the industry.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $7K a year · 4% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
8 mo
of spending, in cash
Looks good: 8.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$12K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$124K
+42% vs prior year
Spent
$135K
Net assets
$92K
By yearFY2020–FY2024
Revenue
$124K
FY2021▲ +42%
Tap a bar for its year
Revenue by fiscal year
FY2020$87K
FY2021$124K
FY2022$186K
FY2023$223K
FY2024$240K
Expenses
$135K
FY2021▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2020$100K
FY2021$135K
FY2022$210K
FY2023$235K
FY2024$215K
Net assets
$92K
FY2021▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$108K
FY2021$92K
FY2022$64K
FY2023$48K
FY2024$65K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1974.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Joe Ashley
Director
$0Pt VII · Sec A
William Dull
Director
$0Pt VII · Sec A
Laila Durban
Director
$0Pt VII · Sec A
Alex Gianaras
Past President
$0Pt VII · Sec A
Robert Prescott
Secretary/Treasurer
$0Pt VII · Sec A
Bob Ross
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Brian Wells
President
$0Pt VII · Sec A
See The Transformer Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Strengthens and advocates for the North American transformer industry.

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Provided by the organization

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3 programs · in their own filed words · FY2021
01

Meetings

The meetings provide member company executives with an opportunity to share ideas and information with other senior level executives and have business and industry presentations to educate members on business issues, economic issues, industry trends and emerging technologies.

Pt IX · col B
02

Websites

The main purpose of the website is to keep members and other interested parties informed about association activities. The website also provides a listing of members and information on transformers. This furthers the exempt purpose to stregthen the transformer industry in north america and to be the voice of the industry.

Pt IX · col B
03

Institute for Trend Research

The institute for trends research provides quarterly economic reports. This furthers the exempt purpose to strengthen the transformer industry.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$124K
Ln 12
Gifts and grantsLn 1h$80K
Fees for servicesLn 2g$44K
Money outPt IX
$135K
Ln 25
Owns and owesPt X
$92K
net assets · Ln 32
Cash and savingsLn 1–2$96K
Total assetsLn 16$104K
LiabilitiesLn 26$12K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$80K
Fees for servicesLn 2g$44K
Total revenueLn 12$124K
Assets in detailPt X, end of year
SavingsLn 2$96K
Cash and savings togetherLn 1–2$96K
Total assetsLn 16$104K
LiabilitiesLn 26$12K
Net assetsLn 32$92K
OperationsPt I, VI
EmployeesI 50
VolunteersI 658
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$107K$96K
Total assetsLn 16$111K$104K
LiabilitiesLn 26$3K$12K
Net assetsLn 32$108K$92K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$71K
Legal feesLn 11b$10
Accounting feesLn 11c$1K
TravelLn 17$3K
Conferences, conventions and meetingsLn 19$37K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$21K
All other expensesLn 24e$143
Total functional expensesLn 25$135K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $240K$215K$25K$65K 990 PDF
FY2023 $223K$235K−$11K$48K 990 PDF
FY2022 $186K$210K−$24K$64K 990 PDF
FY2021 Viewing $124K$135K−$10K$92K 990 PDF
FY2020 $87K$100K−$13K$108K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $124,442 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $82,099$79,965
I-9 Program service revenuePrior year $5,250$44,477
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $87,349$124,442
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $100,105$134,864
I-18 Total expensesPrior year $100,105$134,864
I-19 Revenue less expensesPrior year −$12,756−$10,422
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $124,442 across 4 lines filed
VIII-1b Membership dues$79,965
VIII-1h Total contributions, gifts and grants$79,965
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $44,477$44,477
VIII-12 Total revenueRelated to mission $44,477 · Unrelated business $0 · Excluded from tax $0$124,442
Part IX · Statement of functional expenses $134,864 across 8 lines filed
IX-11a Management fees$70,780
IX-11b Legal fees$10
IX-11c Accounting fees$1,150
IX-17 Travel$2,652
IX-19 Conferences, conventions and meetings$36,943
IX-23 Insurance$1,903
IX-24 Other expenses (24a–d)$21,283
IX-24e All other expenses$143
IX-25 Total functional expenses$134,864
Part X · Balance sheet $104,180 assets, 9 lines filed
X-2 Savings and temporary cash investmentsStart of year $106,976$95,765
X-4 Accounts receivableStart of year $3,790$7,149
X-9 Prepaid expenses and deferred charges$1,266
X-16 Total assetsStart of year $110,766$104,180
X-17 Accounts payable and accrued expensesStart of year $3,181$11,997
X-26 Total liabilitiesStart of year $3,181$11,997
X-27 Net assets without donor restrictionsStart of year $107,585$92,183
X-32 Total net assets or fund balancesStart of year $107,585$92,183
X-33 Total liabilities and net assetsStart of year $110,766$104,180
Part XI · Reconciliation of net assets $92,183 net assets at year end
XI-1 Total revenue$124,442
XI-2 Total expenses$134,864
XI-3 Revenue less expenses−$10,422
XI-4 Net assets at start of year$107,585
XI-9 Other changes in net assets−$4,980
XI-10 Net assets at end of year$92,183

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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