Forging Industry Association FY2024 filing

Not tax-deductible

Independence, OH501(c)(6)EIN 34-0821275Revenue $2.8M in FY2024

On file with the IRSforging.org6363 Oak Tree Boulevard Ste 615, 44131-2556 · Independence, OHTax-exempt since Jul 1960

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$589K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $107K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$589K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.7M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.8M
-40% vs prior year
Spent
$3.7M
Net assets
$5.1M
By yearFY2021–FY2025
Revenue
$2.8M
FY2024▼ -40%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.7M
FY2022$4.5M
FY2023$4.6M
FY2024$2.8M
FY2025$4.7M
Expenses
$3.7M
FY2024▼ -16%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.7M
FY2022$3.2M
FY2023$4.4M
FY2024$3.7M
FY2025$4.6M
Net assets
$5.1M
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2021$5.0M
FY2022$5.2M
FY2023$5.3M
FY2024$5.1M
FY2025$5.5M

From the FY2024 Form 990 (year ending May 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1960.

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

Who runs it and what they're paid

13 people listed on the 990; $589K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President/CEO
$312,496Pt VII · Sec A
Director, Marketing & Even
$146,994Pt VII · Sec A
$129,673Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
James R Warren$344,064$312,496$263,544$278,660$265,217
Joseph Boni————$201,634
Angela Gibian$142,897$146,994—$109,848—
Andrew Zielinski$134,066$129,673$80,421$91,626—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Helps members compete better worldwide.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Published and distributed various forging related materials such as forging capability guide, and all related material explaining the forging process & uses to design engineers, customers & ACADEMICS.HELD formal seminars for forging company personnel such as forging die design, press die design and industrial plant training.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.8M
Ln 12
Fees for servicesLn 2g$2.4M
Gifts and grantsLn 1h$217K
Investment incomeLn 3$142K
Money outPt IX
$3.7M
Ln 25
Owns and owesPt X
$5.1M
net assets · Ln 32
Cash and savingsLn 1–2$351K
Total assetsLn 16$6.8M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
13
listed · VII A
PaidVII A3
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$217K
Government grantsLn 1e$217K
Fees for servicesLn 2g$2.4M
Investment incomeLn 3$142K
Other incomeLn 4–11$105K
Gains on assetsLn 7−$157K
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$140K
SavingsLn 2$211K
Cash and savings togetherLn 1–2$351K
InvestmentsLn 11–13$4.9M
Land, buildings, equipmentLn 10c$108K
Other assetsLn 15$974K
Total assetsLn 16$6.8M
LiabilitiesLn 26$1.7M
Net assetsLn 32$5.1M
OperationsPt I, VI
EmployeesI 58
VolunteersI 60
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$1.6M$351K
InvestmentsLn 11–13$4.2M$4.9M
Land, buildings, equipmentLn 10c$25K$108K
Total assetsLn 16$7.2M$6.8M
LiabilitiesLn 26$2.0M$1.7M
Net assetsLn 32$5.3M$5.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$589K
Other salaries and wagesLn 7$406K
Pension plan contributionsLn 8$52K
Other employee benefitsLn 9$179K
Payroll taxesLn 10$74K
Legal feesLn 11b$14K
Accounting feesLn 11c$37K
Lobbying feesLn 11d$223K
Investment management feesLn 11f$24K
Other fees for servicesLn 11g$448K
Advertising and promotionLn 12$41K
Office expensesLn 13$81K
Information technologyLn 14$22K
OccupancyLn 16$103K
TravelLn 17$30K
Conferences, conventions and meetingsLn 19$1.0M
Payments to affiliatesLn 21$247K
Depreciation, depletion and amortizationLn 22$24K
InsuranceLn 23$18K
Other expenses (24a–d)Ln 24$59K
Total functional expensesLn 25$3.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.7M$4.6M$81K$5.5M 990 PDF
FY2024 Viewing $2.8M$3.7M−$962K$5.1M 990 PDF
FY2023 $4.6M$4.4M$192K$5.3M 990 PDF
FY2022 $4.5M$3.2M$1.3M$5.2M 990 PDF
FY2021 $1.7M$1.7M−$56K$5.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,756,643 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,487,879$216,741
I-9 Program service revenuePrior year $2,863,845$2,435,248
I-10 Investment incomePrior year $158,141−$14,633
I-11 Other revenuePrior year $93,498$119,287
I-12 Total revenuePrior year $4,603,363$2,756,643
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 $1,219,695$1,300,609
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,191,859$2,418,136
I-18 Total expensesPrior year $4,411,554$3,718,745
I-19 Revenue less expensesPrior year $191,809−$962,102
Part VI · Governance 10 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,756,643 across 7 lines filed
VIII-1e Government grants$216,741
VIII-1h Total contributions, gifts and grants$216,741
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,435,248$2,435,248
VIII-3 Investment incomeExcluded from tax $142,013$142,013
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$156,646−$156,646
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $11,252 · Unrelated business $108,035$119,287
VIII-12 Total revenueRelated to mission $2,446,500 · Unrelated business $108,035 · Excluded from tax −$14,633$2,756,643
Part IX · Statement of functional expenses $3,718,745 across 20 lines filed
IX-5 Pay of current officers, directors and key staff$589,163
IX-7 Other salaries and wages$406,493
IX-8 Pension plan contributions$51,631
IX-9 Other employee benefits$179,388
IX-10 Payroll taxes$73,934
IX-11b Legal fees$14,471
IX-11c Accounting fees$36,690
IX-11d Lobbying fees$222,583
IX-11f Investment management fees$24,104
IX-11g Other fees for services$448,123
IX-12 Advertising and promotion$40,979
IX-13 Office expenses$81,223
IX-14 Information technology$21,844
IX-16 Occupancy$102,896
IX-17 Travel$29,659
IX-19 Conferences, conventions and meetings$1,047,051
IX-21 Payments to affiliates$246,850
IX-22 Depreciation, depletion and amortization$24,136
IX-23 Insurance$18,363
IX-24 Other expenses (24a–d)$59,164
IX-25 Total functional expenses$3,718,745
Part X · Balance sheet $6,808,149 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $169,717$139,739
X-2 Savings and temporary cash investmentsStart of year $1,400,277$211,480
X-3 Pledges and grants receivableStart of year $148,304$111,192
X-4 Accounts receivableStart of year $129,755$232,764
X-9 Prepaid expenses and deferred chargesStart of year $98,113$87,253
X-10c Land, buildings and equipment, netStart of year $24,781$108,343
X-11 Publicly traded securitiesStart of year $4,200,735$4,943,676
X-15 Other assetsStart of year $1,032,543$973,702
X-16 Total assetsStart of year $7,204,225$6,808,149
X-17 Accounts payable and accrued expensesStart of year $795,740$540,680
X-19 Deferred revenueStart of year $104,894$155,917
X-25 Other liabilitiesStart of year $1,050,535$1,025,552
X-26 Total liabilitiesStart of year $1,951,169$1,722,149
X-27 Net assets without donor restrictionsStart of year $5,253,056$5,086,000
X-32 Total net assets or fund balancesStart of year $5,253,056$5,086,000
X-33 Total liabilities and net assetsStart of year $7,204,225$6,808,149
Part XI · Reconciliation of net assets $5,086,000 net assets at year end
XI-1 Total revenue$2,756,643
XI-2 Total expenses$3,718,745
XI-3 Revenue less expenses−$962,102
XI-4 Net assets at start of year$5,253,056
XI-5 Net unrealized gains (losses) on investments$792,881
XI-9 Other changes in net assets$2,165
XI-10 Net assets at end of year$5,086,000

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

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