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Refractories Institute

Not tax-deductible

Glen Ellyn, IL501(c)(6)Mutual / membership EIN 25-0981708Revenue $485K in FY2024

On file with the IRSrefractoriesinstitute.org800 Roosevelt Rd Ste C312, 60137-5899 · Glen Ellyn, ILTax-exempt since Feb 1953

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The Refractories Institute was established by the Refractories industry. (see schedule o)

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 17 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2024 · 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
2 of 5
filings with a surplus
Average deficit $85K a year · 22% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
1 mo
of spending, in cash
Plus $646K in investments, Pt X · Ln 11–13
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$485K
+37% vs prior year
Spent
$474K
Net assets
$694K
By yearFY2020–FY2024
Revenue
$485K
FY2024▲ +37%
Tap a bar for its year
Revenue by fiscal year
FY2020$287K
FY2021$457K
FY2022$379K
FY2023$353K
FY2024$485K
Expenses
$474K
FY2024▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$385K
FY2021$453K
FY2022$541K
FY2023$532K
FY2024$474K
Net assets
$694K
FY2024-0.05%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$819K
FY2023$694K
FY2024$694K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1953.

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

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Delucia
Director
$0Pt VII · Sec A
Kyle Dupuis
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Paul Jamieson
Past President
$0Pt VII · Sec A
Ken Moody
Director
$0Pt VII · Sec A
Steve Nock
Director
$0Pt VII · Sec A
See Refractories Institute 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

Promotes the refractories industry through education and research.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The institute provides formalized methods of identifying and promoting critical issues which impact the refractory industry. In support of the primary exempt purpose, the refractories institute promoted the image of the refractories industry as a supplier of products vital to all industry, conducted research to develop and improve…

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 4 grants · $55K · 2021–2024
Unitemized GrantFY2024$15,000
Unitemized GrantFY2023$15,000
Unitemized GrantFY2022$10,000
Unitemized GrantFY2021$15,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$485K
Ln 12
Gifts and grantsLn 1h$271K
Fees for servicesLn 2g$123K
Investment incomeLn 3$91K
Money outPt IX
$474K
Ln 25
Owns and owesPt X
$694K
net assets · Ln 32
Cash and savingsLn 1–2$46K
Total assetsLn 16$705K
LiabilitiesLn 26$11K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$271K
Fees for servicesLn 2g$123K
Investment incomeLn 3$91K
Gains on assetsLn 7$65K
Total revenueLn 12$485K
Assets in detailPt X, end of year
CashLn 1$24K
SavingsLn 2$22K
Cash and savings togetherLn 1–2$46K
InvestmentsLn 11–13$646K
Total assetsLn 16$705K
LiabilitiesLn 26$11K
Net assetsLn 32$694K
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$30K$46K
InvestmentsLn 11–13$702K$646K
Total assetsLn 16$738K$705K
LiabilitiesLn 26$44K$11K
Net assetsLn 32$694K$694K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$15K
Management feesLn 11a$226K
Legal feesLn 11b$43K
Accounting feesLn 11c$8K
Investment management feesLn 11f$6K
TravelLn 17$15K
Conferences, conventions and meetingsLn 19$130K
InsuranceLn 23$3K
Other expenses (24a–d)Ln 24$26K
Total functional expensesLn 25$474K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $485K$474K$11K$694K 990 PDF
FY2023 $353K$532K−$179K$694K 990 PDF
FY2022 $379K$541K−$162K$819K 990 PDF
FY2021 $457K$453K$4K$1.2M 990 PDF
FY2020 $287K$385K−$97K$1.2M 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 FY2024 990 (6 parts)
Part I · Summary $484,614 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $252,900$270,650
I-9 Program service revenuePrior year $65,076$122,640
I-10 Investment incomePrior year $35,521$91,324
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $353,497$484,614
I-13 Grants and similar amounts paidPrior year $15,000$15,000
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 $517,336$458,526
I-18 Total expensesPrior year $532,336$473,526
I-19 Revenue less expensesPrior year −$178,839$11,088
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $484,614 across 6 lines filed
VIII-1b Membership dues$270,650
VIII-1h Total contributions, gifts and grants$270,650
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $122,640$122,640
VIII-3 Investment incomeExcluded from tax $26,820$26,820
VIII-7 Net gain or loss on sales of assetsRelated to mission $64,504$64,504
VIII-12 Total revenueRelated to mission $187,144 · Unrelated business $0 · Excluded from tax $26,820$484,614
Part IX · Statement of functional expenses $473,526 across 9 lines filed
IX-2 Grants to domestic individuals$15,000
IX-11a Management fees$226,500
IX-11b Legal fees$43,181
IX-11c Accounting fees$8,235
IX-11f Investment management fees$6,454
IX-17 Travel$14,549
IX-19 Conferences, conventions and meetings$130,181
IX-23 Insurance$2,941
IX-24 Other expenses (24a–d)$26,485
IX-25 Total functional expenses$473,526
Part X · Balance sheet $704,953 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $6,454$23,931
X-2 Savings and temporary cash investmentsStart of year $23,245$22,157
X-4 Accounts receivableStart of year $4,125$12,500
X-9 Prepaid expenses and deferred chargesStart of year $2,611$0
X-11 Publicly traded securitiesStart of year $701,842$646,365
X-16 Total assetsStart of year $738,277$704,953
X-17 Accounts payable and accrued expensesStart of year $44,392$11,411
X-26 Total liabilitiesStart of year $44,392$11,411
X-27 Net assets without donor restrictionsStart of year $693,885$693,542
X-32 Total net assets or fund balancesStart of year $693,885$693,542
X-33 Total liabilities and net assetsStart of year $738,277$704,953
Part XI · Reconciliation of net assets $693,542 net assets at year end
XI-1 Total revenue$484,614
XI-2 Total expenses$473,526
XI-3 Revenue less expenses$11,088
XI-4 Net assets at start of year$693,885
XI-5 Net unrealized gains (losses) on investments−$11,431
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$693,542

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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