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Natural Stone Institute

Not tax-deductible

Oberlin, OH501(c)(6)Mutual / membership EIN 38-2817639Revenue $3.9M in FY2024

On file with the IRSnaturalstoneinstitute.org380 E Lorain St, 44074-1252 · Oberlin, OHTax-exempt since Oct 1990

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501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
43¢ of each $1 spent went to programs.
Run by 16 volunteers and 19 employees.
Status: IRS Pub. 78 · Programs: Part IX · 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
5 of 5
filings with a surplus
Average surplus $144K a year · 5% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
43%
of spending
Concern: 43% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$234K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Plus $3.2M in investments, Pt X · Ln 11–13
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $105K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$953K
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 13 voting members
Looks good: 12 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.9M
+16% vs prior year
Spent
$3.9M
To programs
43%
Net assets
$3.4M
By yearFY2020–FY2024
Revenue
$3.9M
FY2024▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.5M
FY2021$2.9M
FY2022$3.3M
FY2023$3.4M
FY2024$3.9M
Expenses
$3.9M
FY2024▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.4M
FY2021$2.5M
FY2022$3.0M
FY2023$3.4M
FY2024$3.9M
Net assets
$3.4M
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.3M
FY2021$2.8M
FY2022$2.7M
FY2023$3.1M
FY2024$3.4M

From the FY2024 Form 990 · 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: FY2024. IRS ruling in Oct 1990.

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

Where the money goes

43 cents of each dollar spent went to programs.

Program services 43% · $1.7M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $234K paid to officers and key staff.

Part VII, Section A · reportable compensation
James Hieb
Chief Executive Officer
$232,889Pt VII · Sec A
Duane Naquin
Immediate Past President
$800Pt VII · Sec A
Jeff Erickson
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Sam Arcot
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Katie Jensen
President
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
James Hieb$232,889$214,254$207,942$211,028$214,599
Duane Naquin$800————

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

Supports the natural stone industry with services, products, and information.

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Provided by the organization

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3 programs · $1.7M · in their own filed words · FY2024
01

Electronic Media and Publications

The organization provides a variety of print and electronic publications, including a bi-monthly member newsletter and magazine for the design community. The organization also provides the dimension stone design manual, a technical publication containing specifications and technical data regarding working with natural stone.

$1.1Mprogram expense
02

Industry Education

The organization provides high quality educational programming for natural stone professionals through the following outlets: trade shows, regional seminars, online education, and webinars. Continuing education to the architecture and design community is provided through trade shows, online education, webinars, and in person seminars.

$441Kprogram expense
03

Promotion outreach (trade advertising and trade show participation):nsi advertises regularly to promote the attributes of, and the use of, natural stone to architects, designers, and kitchen & bath dealers. The association also exhibits at several trade shows in the U.S.

$167Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Natural Stone FoundationFY2024$95K
Gary Sinise FoundationFY2024$10K
Total grants receivedfrom 2 funders$105K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.9M
Ln 12
Fees for servicesLn 2g$2.2M
Gifts and grantsLn 1h$1.6M
Investment incomeLn 3$168K
Money outPt IX
$3.9M
Ln 25
Programscol B$1.7M
Owns and owesPt X
$3.4M
net assets · Ln 32
Cash and savingsLn 1–2$464K
Total assetsLn 16$4.3M
LiabilitiesLn 26$953K
PeoplePt VI, VII
14
listed · VII A
PaidVII A2
Voting boardVI 1a13
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$2.2M
Investment incomeLn 3$168K
Gains on assetsLn 7$76K
Total revenueLn 12$3.9M
Assets in detailPt X, end of year
CashLn 1$395K
SavingsLn 2$69K
Cash and savings togetherLn 1–2$464K
InvestmentsLn 11–13$3.2M
Land, buildings, equipmentLn 10c$481K
Total assetsLn 16$4.3M
LiabilitiesLn 26$953K
Net assetsLn 32$3.4M
OperationsPt I, VI
EmployeesI 519
VolunteersI 616
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 FY24End FY24
Cash and savingsLn 1–2$1.0M$464K
InvestmentsLn 11–13$2.6M$3.2M
Land, buildings, equipmentLn 10c$354K$481K
Total assetsLn 16$4.2M$4.3M
LiabilitiesLn 26$1.1M$953K
Net assetsLn 32$3.1M$3.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$214K
Other salaries and wagesLn 7$1.4M
Pension plan contributionsLn 8$36K
Other employee benefitsLn 9$140K
Payroll taxesLn 10$122K
Legal feesLn 11b$10K
Accounting feesLn 11c$14K
Investment management feesLn 11f$18K
Other fees for servicesLn 11g$6K
Advertising and promotionLn 12$166K
Office expensesLn 13$220K
TravelLn 17$65K
Depreciation, depletion and amortizationLn 22$40K
Other expenses (24a–d)Ln 24$836K
All other expensesLn 24e$628K
Total functional expensesLn 25$3.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.9M$3.9M$3K$3.4M 990 PDF
FY2023 $3.4M$3.4M$29K$3.1M 990 PDF
FY2022 $3.3M$3.0M$273K$2.7M 990 PDF
FY2021 $2.9M$2.5M$355K$2.8M 990 PDF
FY2020 $2.5M$2.4M$62K$2.3M 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 J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $3,921,514 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,680,788$1,599,003
I-9 Program service revenuePrior year $1,601,559$2,154,650
I-10 Investment incomePrior year $98,334$167,861
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,380,681$3,921,514
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 $1,832,474$1,915,785
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,518,833$2,002,520
I-18 Total expensesPrior year $3,351,307$3,918,305
I-19 Revenue less expensesPrior year $29,374$3,209
Part VI · Governance 12 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members12
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 $3,921,514 across 7 lines filed
Lines not itemized here account for $215,142 of total revenue; see the IRS return.
VIII-1b Membership dues$1,511,730
VIII-1d Related organizations$87,273
VIII-1h Total contributions, gifts and grants$1,599,003
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,906,187 · Unrelated business $33,321$1,939,508
VIII-3 Investment incomeExcluded from tax $91,821$91,821
VIII-7 Net gain or loss on sales of assetsExcluded from tax $76,040$76,040
VIII-12 Total revenueRelated to mission $2,121,329 · Unrelated business $33,321 · Excluded from tax $167,861$3,921,514
Part IX · Statement of functional expenses $3,918,305 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$213,889
IX-7 Other salaries and wages$1,403,523
IX-8 Pension plan contributions$36,280
IX-9 Other employee benefits$140,019
IX-10 Payroll taxes$122,074
IX-11b Legal fees$9,967
IX-11c Accounting fees$14,360
IX-11f Investment management fees$18,386
IX-11g Other fees for services$5,639
IX-12 Advertising and promotion$165,694
IX-13 Office expenses$219,879
IX-17 Travel$64,957
IX-22 Depreciation, depletion and amortization$40,127
IX-24 Other expenses (24a–d)$835,570
IX-24e All other expenses$627,941
IX-25 Total functional expenses$3,918,305
Part X · Balance sheet $4,338,344 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $834,891$395,151
X-2 Savings and temporary cash investmentsStart of year $199,968$68,819
X-4 Accounts receivableStart of year $138,604$134,400
X-9 Prepaid expenses and deferred chargesStart of year $80,262$85,062
X-10c Land, buildings and equipment, netStart of year $353,835$481,076
X-11 Publicly traded securitiesStart of year $2,592,336$3,173,836
X-16 Total assetsStart of year $4,199,896$4,338,344
X-17 Accounts payable and accrued expensesStart of year $257,201$248,958
X-19 Deferred revenueStart of year $884,143$704,202
X-26 Total liabilitiesStart of year $1,141,344$953,160
X-27 Net assets without donor restrictionsStart of year $2,791,475$3,097,959
X-28 Net assets with donor restrictionsStart of year $267,077$287,225
X-32 Total net assets or fund balancesStart of year $3,058,552$3,385,184
X-33 Total liabilities and net assetsStart of year $4,199,896$4,338,344
Part XI · Reconciliation of net assets $3,385,184 net assets at year end
XI-1 Total revenue$3,921,514
XI-2 Total expenses$3,918,305
XI-3 Revenue less expenses$3,209
XI-4 Net assets at start of year$3,058,552
XI-5 Net unrealized gains (losses) on investments$323,423
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,385,184

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

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