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Iapmo Research and Testing INC FY2021 filing

Not tax-deductible

Ontario, CA501(c)(6)Since 1995EIN 95-4507362Revenue $46.7M in FY2021

On file with the IRSiapmo.org4755 E Philadelphia St, 91761-2810 · Ontario, CATax-exempt since Mar 1995

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Performing independent Testing, Research, and technical services in the plumbing and mechanical industries, as well as providing consultation, training, quality assurance, failure analysis, and witness/field Testing services.

Mission: Form 990 Part I, line 1

Before you give

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
5 of 5
filings with a surplus
Average surplus $17.1M a year · 32% 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
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Fine: 0.4 months of spending in cash, plus $2.7M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$14.7M
131% of total assets
Concern: liabilities are 131% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$46.7M
+5% vs prior year
Spent
$28.8M
To programs
0%
Net assets
−$3.4M
By yearFY2020–FY2024
Revenue
$46.7M
FY2021▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$44.7M
FY2021$46.7M
FY2022$50.6M
FY2023$58.2M
FY2024$67.4M
Expenses
$28.8M
FY2021▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$29.3M
FY2021$28.8M
FY2022$35.4M
FY2023$41.1M
FY2024$47.6M
Net assets
−$3.4M
FY2021▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020−$3.9M
FY2021−$3.4M
FY2022−$103K
FY2023$2.3M
FY2024$6.9M

From the FY2021 Form 990 · figures checked against the IRS filing · 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 Mar 1995.

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

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
Thomas Palkon
Evp-Chief Te
$0Pt VII · Sec A
Ken Wijaya
Evp-R&t Lab
$0Pt VII · Sec A
Jin Luo
Evp-Lab Reco
$0Pt VII · Sec A
Ohannes Dembekjian
Evp-Cont Com
$0Pt VII · Sec A
Shirley Dewi
Svp-Quality
$0Pt VII · Sec A
Oscar Zanoni
Vp-Certifica
$0Pt VII · Sec A
Anish Desai
Vp-Product C
$0Pt VII · Sec A
Xuefeng Huang
Lab Director
$0Pt VII · Sec A
See Iapmo Research and Testing INC 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 15aYes

Programs and updates

Tests, researches, and provides technical services for plumbing and mechanical industries.

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3 programs · in their own filed words · FY2021
01

Provide listing compliance inspections for plumbing and mechanical products manufactured in accordance with acceptable standards to producers of plumbing and mechanical products sold in north america.

Pt IX · col B
02

Provide listing services for plumbing and mechanical products manufactured in accordance with acceptable standards to producers of plumbing and mechanical products sold in north america.

Pt IX · col B
03

Provide product testing for plumbing and mechanical products manufactured in accordance with acceptable standards to producers of plumbing and mechanical products sold in north america.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$46.7M
Ln 12
Fees for servicesLn 2g$46.7M
Other incomeLn 4–11$45K
Investment incomeLn 3$21K
Money outPt IX
$28.8M
Ln 25
Owns and owesPt X
−$3.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$11.2M
LiabilitiesLn 26$14.7M
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$46.7M
Investment incomeLn 3$21K
Other incomeLn 4–11$45K
Total revenueLn 12$46.7M
Assets in detailPt X, end of year
CashLn 1$452K
SavingsLn 2$626K
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$2.7M
Land, buildings, equipmentLn 10c$985K
Total assetsLn 16$11.2M
LiabilitiesLn 26$14.7M
Net assetsLn 32−$3.4M
OperationsPt I, VI
EmployeesI 50
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 FY21End FY21
Cash and savingsLn 1–2$1.5M$1.1M
InvestmentsLn 11–13$1.2M$2.7M
Land, buildings, equipmentLn 10c$992K$985K
Total assetsLn 16$9.7M$11.2M
LiabilitiesLn 26$13.6M$14.7M
Net assetsLn 32−$3.9M−$3.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$10.3M
Pension plan contributionsLn 8$1.3M
Other employee benefitsLn 9$1.7M
Payroll taxesLn 10$693K
Legal feesLn 11b$23K
Other fees for servicesLn 11g$1K
Advertising and promotionLn 12$45K
Office expensesLn 13$122K
TravelLn 17$195K
InterestLn 20$382
Depreciation, depletion and amortizationLn 22$205K
InsuranceLn 23$343K
Other expenses (24a–d)Ln 24$12.3M
All other expensesLn 24e$1.6M
Total functional expensesLn 25$28.8M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $67.4M$47.6M$19.8M$6.9M 990 PDF
FY2023 $58.2M$41.1M$17.0M$2.3M 990 PDF
FY2022 $50.6M$35.4M$15.2M−$103K 990 PDF
FY2021 Viewing $46.7M$28.8M$17.9M−$3.4M 990 PDF
FY2020 $44.7M$29.3M$15.4M−$3.9M 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 $46,736,492 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $44,583,530$46,669,880
I-10 Investment incomePrior year $48,617$21,433
I-11 Other revenuePrior year $21,138$45,179
I-12 Total revenuePrior year $44,653,285$46,736,492
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $13,396,260$13,971,725
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $15,866,328$14,835,990
I-18 Total expensesPrior year $29,262,588$28,807,715
I-19 Revenue less expensesPrior year $15,390,697$17,928,777
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $46,736,492 across 4 lines filed
Lines not itemized here account for $1,272,762 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $45,400,259$45,400,259
VIII-3 Investment incomeExcluded from tax $21,433$21,433
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $14,462 · Unrelated business $3,975 · Excluded from tax $23,601$42,038
VIII-12 Total revenueRelated to mission $46,684,342 · Unrelated business $3,975 · Excluded from tax $48,175$46,736,492
Part IX · Statement of functional expenses $28,807,715 across 14 lines filed
IX-7 Other salaries and wages$10,322,643
IX-8 Pension plan contributions$1,296,117
IX-9 Other employee benefits$1,660,374
IX-10 Payroll taxes$692,591
IX-11b Legal fees$23,438
IX-11g Other fees for services$1,427
IX-12 Advertising and promotion$45,391
IX-13 Office expenses$121,773
IX-17 Travel$194,905
IX-20 Interest$382
IX-22 Depreciation, depletion and amortization$205,358
IX-23 Insurance$343,191
IX-24 Other expenses (24a–d)$12,305,311
IX-24e All other expenses$1,594,814
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$28,807,715
Part X · Balance sheet $11,214,766 assets, 15 lines filed
Asset lines not itemized here account for $68,598; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $318,275$451,768
X-2 Savings and temporary cash investmentsStart of year $1,145,980$626,057
X-4 Accounts receivableStart of year $5,821,850$6,139,813
X-8 Inventories for sale or useStart of year $36,563$35,553
X-9 Prepaid expenses and deferred chargesStart of year $120,090$213,369
X-10c Land, buildings and equipment, netStart of year $992,427$984,764
X-11 Publicly traded securitiesStart of year $1,224,335$2,694,844
X-16 Total assetsStart of year $9,694,406$11,214,766
X-17 Accounts payable and accrued expensesStart of year $51,718$120,155
X-19 Deferred revenueStart of year $11,945,871$12,583,809
X-25 Other liabilitiesStart of year $1,618,106$1,953,719
X-26 Total liabilitiesStart of year $13,615,695$14,657,683
X-27 Net assets without donor restrictionsStart of year −$3,921,289−$3,442,917
X-32 Total net assets or fund balancesStart of year −$3,921,289−$3,442,917
X-33 Total liabilities and net assetsStart of year $9,694,406$11,214,766
Part XI · Reconciliation of net assets −$3,442,917 net assets at year end
XI-1 Total revenue$46,736,492
XI-2 Total expenses$28,807,715
XI-3 Revenue less expenses$17,928,777
XI-4 Net assets at start of year−$3,921,289
XI-5 Net unrealized gains (losses) on investments−$35,684
XI-9 Other changes in net assets−$17,414,721
XI-10 Net assets at end of year−$3,442,917

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

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