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Product Development & Management Association FY2022 filing

Not tax-deductible

Minneapolis, MN501(c)(6)EIN 38-2287777Revenue $1.5M in FY2022

On file with the IRSpdma.org1601 Utica Ave S Ste 213, 55416-3487 · Minneapolis, MNTax-exempt since Sep 1986

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To improve the effectiveness of those engaged in the Development & Management of new products.

Mission: Form 990 Part I, line 1

Before you give

FY2022 · 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
5 of 5
filings with a surplus
Average surplus $250K a year · 19% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$234K
19% of total assets
Looks good: liabilities are 19% 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
$1.5M
+37% vs prior year
Spent
$1.1M
Net assets
$1.0M
By yearFY2020–FY2024
Revenue
$1.5M
FY2022▲ +37%
Tap a bar for its year
Revenue by fiscal year
FY2020$866K
FY2021$1.1M
FY2022$1.5M
FY2023$1.8M
FY2024$1.4M
Expenses
$1.1M
FY2022▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$737K
FY2021$990K
FY2022$1.1M
FY2023$1.2M
FY2024$1.4M
Net assets
$1.0M
FY2022▲ +45%
Tap a bar for its year
Net assets by fiscal year
FY2020$605K
FY2021$698K
FY2022$1.0M
FY2023$1.8M
FY2024$1.8M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Sep 1986.

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
$0Pt VII · Sec A
$0Pt VII · Sec A
Marlon Hernandez
Secretary-Treasurer
$0Pt VII · Sec A
Sudhi Gulur
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Wayne Fisher
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Luigi Deluca
Director
$0Pt VII · Sec A
See Product Development & Management 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

Trains product developers and managers to improve their effectiveness.

Questions for Product Development & Management Association

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Provided by the organization

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3 programs · in their own filed words · FY2022
01

Conference

Annual global conference in the fall with over 350 attendees. Product development professionals gather to network and review the latest new product development best practices. The conference also includes keynote speakers, panels, workshops, and more.

Pt IX · col B
02

Publications/Website

Pdma publishes the following: journal of product innovation management (jpim), pdma handbook of new product development (2ND edition), pdma tool book 1, 2, and 3 for new product development, and new product development for dummies.

Pt IX · col B
03

Chapter Events

Pdma sponsors local us chapters and international affiliate meetings that offer opportunities for local involvement, networking, and exchange of ideas.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Fees for servicesLn 2g$1.5M
Other incomeLn 4–11$17K
Investment incomeLn 3$2K
Money outPt IX
$1.1M
Ln 25
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$130K
Total assetsLn 16$1.2M
LiabilitiesLn 26$234K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$2K
Other incomeLn 4–11$17K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$130K
Cash and savings togetherLn 1–2$130K
InvestmentsLn 11–13$28K
Total assetsLn 16$1.2M
LiabilitiesLn 26$234K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderDecember
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 FY22End FY22
Cash and savingsLn 1–2$281K$130K
InvestmentsLn 11–13$269K$28K
Total assetsLn 16$748K$1.2M
LiabilitiesLn 26$49K$234K
Net assetsLn 32$698K$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$555K
Legal feesLn 11b$678
Accounting feesLn 11c$8K
Advertising and promotionLn 12$46K
Office expensesLn 13$7K
TravelLn 17$39K
Conferences, conventions and meetingsLn 19$394K
InsuranceLn 23$1K
Other expenses (24a–d)Ln 24$42K
All other expensesLn 24e$26K
Total functional expensesLn 25$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.4M$1.4M$38K$1.8M 990 PDF
FY2023 $1.8M$1.2M$643K$1.8M 990 PDF
FY2022 Viewing $1.5M$1.1M$353K$1.0M 990 PDF
FY2021 $1.1M$990K$84K$698K 990 PDF
FY2020 $866K$737K$129K$605K 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 FY2022 990 (6 parts)
Part I · Summary $1,471,117 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,052,051$1,452,533
I-10 Investment incomePrior year $4,436$1,948
I-11 Other revenuePrior year $17,267$16,636
I-12 Total revenuePrior year $1,073,754$1,471,117
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 $989,593$1,117,774
I-18 Total expensesPrior year $989,593$1,117,774
I-19 Revenue less expensesPrior year $84,161$353,343
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,471,117 across 4 lines filed
Lines not itemized here account for $2,775 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,449,058 · Unrelated business $700$1,449,758
VIII-3 Investment incomeExcluded from tax $1,948$1,948
VIII-5 RoyaltiesUnrelated business $2,345 · Excluded from tax $14,291$16,636
VIII-12 Total revenueRelated to mission $1,451,833 · Unrelated business $3,045 · Excluded from tax $16,239$1,471,117
Part IX · Statement of functional expenses $1,117,774 across 10 lines filed
IX-11a Management fees$554,621
IX-11b Legal fees$678
IX-11c Accounting fees$8,120
IX-12 Advertising and promotion$45,804
IX-13 Office expenses$6,816
IX-17 Travel$39,209
IX-19 Conferences, conventions and meetings$393,940
IX-23 Insurance$1,150
IX-24 Other expenses (24a–d)$41,926
IX-24e All other expenses$25,510
IX-25 Total functional expenses$1,117,774
Part X · Balance sheet $1,244,150 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $280,931$130,041
X-4 Accounts receivableStart of year $88,035$1,002,600
X-9 Prepaid expenses and deferred chargesStart of year $110,113$83,827
X-12 Other securitiesStart of year $268,510$27,682
X-16 Total assetsStart of year $747,589$1,244,150
X-17 Accounts payable and accrued expensesStart of year $7,053$190,296
X-19 Deferred revenueStart of year $42,281$43,693
X-26 Total liabilitiesStart of year $49,334$233,989
X-27 Net assets without donor restrictionsStart of year $698,255$1,010,161
X-32 Total net assets or fund balancesStart of year $698,255$1,010,161
X-33 Total liabilities and net assetsStart of year $747,589$1,244,150
Part XI · Reconciliation of net assets $1,010,161 net assets at year end
XI-1 Total revenue$1,471,117
XI-2 Total expenses$1,117,774
XI-3 Revenue less expenses$353,343
XI-4 Net assets at start of year$698,255
XI-5 Net unrealized gains (losses) on investments−$41,437
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,010,161

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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