Iapmo Research and Testing INC FY2022 filing

Not tax-deductible

Ontario, CA501(c)(6)Since 1995EIN 95-4507362Revenue $50.6M in FY2022

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

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 $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
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$15.9M
101% of total assets
Concern: liabilities are 101% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$50.6M
+8% vs prior year
Spent
$35.4M
To programs
0%
Net assets
−$103K
By yearFY2020–FY2024
Revenue
$50.6M
FY2022▲ +8%
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
$35.4M
FY2022▲ +23%
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
−$103K
FY2022▲ +97%
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 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 Mar 1995.

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

Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation
Evp-R&t Lab
$0Pt VII · Sec A
Evp-Cont Com
$0Pt VII · Sec A
Evp-Lab Reco
$0Pt VII · Sec A
Svp-Quality
$0Pt VII · Sec A
Vp-Product C
$0Pt VII · Sec A
Lab Director
$0Pt VII · Sec A
Svp-Lab Serv
$0Pt VII · Sec A
Vp-Certifica
$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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Provided by the organization

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3 programs · in their own filed words · FY2022
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 FY2022 990, line by line.

1The main four
Money inPt VIII
$50.6M
Ln 12
Fees for servicesLn 2g$50.4M
Other incomeLn 4–11$95K
Investment incomeLn 3$40K
Money outPt IX
$35.4M
Ln 25
Owns and owesPt X
−$103K
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$15.8M
LiabilitiesLn 26$15.9M
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$50.4M
Investment incomeLn 3$40K
Other incomeLn 4–11$95K
Gains on assetsLn 7−$2K
Total revenueLn 12$50.6M
Assets in detailPt X, end of year
CashLn 1$540K
SavingsLn 2$751K
Cash and savings togetherLn 1–2$1.3M
InvestmentsLn 11–13$4.6M
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$207K
Total assetsLn 16$15.8M
LiabilitiesLn 26$15.9M
Net assetsLn 32−$103K
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 FY22End FY22
Cash and savingsLn 1–2$1.1M$1.3M
InvestmentsLn 11–13$2.7M$4.6M
Land, buildings, equipmentLn 10c$985K$1.5M
Total assetsLn 16$11.2M$15.8M
LiabilitiesLn 26$14.7M$15.9M
Net assetsLn 32−$3.4M−$103K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$10.7M
Pension plan contributionsLn 8$1.3M
Other employee benefitsLn 9$1.9M
Payroll taxesLn 10$720K
Legal feesLn 11b$25K
Other fees for servicesLn 11g$766
Advertising and promotionLn 12$43K
Office expensesLn 13$148K
TravelLn 17$669K
Depreciation, depletion and amortizationLn 22$227K
InsuranceLn 23$338K
Other expenses (24a–d)Ln 24$17.6M
All other expensesLn 24e$1.6M
Total functional expensesLn 25$35.4M$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 Viewing $50.6M$35.4M$15.2M−$103K 990 PDF
FY2021 $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 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 $50,566,669 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $46,669,880$50,431,873
I-10 Investment incomePrior year $21,433$39,875
I-11 Other revenuePrior year $45,179$94,921
I-12 Total revenuePrior year $46,736,492$50,566,669
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $13,971,725$14,689,000
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $14,835,990$20,694,688
I-18 Total expensesPrior year $28,807,715$35,383,688
I-19 Revenue less expensesPrior year $17,928,777$15,182,981
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $50,566,669 across 5 lines filed
Lines not itemized here account for $1,272,356 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $49,164,639$49,164,639
VIII-3 Investment incomeExcluded from tax $41,597$41,597
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,722−$1,722
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $15,086 · Excluded from tax $74,713$89,799
VIII-12 Total revenueRelated to mission $50,446,959 · Unrelated business $4,055 · Excluded from tax $115,655$50,566,669
Part IX · Statement of functional expenses $35,383,688 across 13 lines filed
IX-7 Other salaries and wages$10,713,972
IX-8 Pension plan contributions$1,342,704
IX-9 Other employee benefits$1,912,648
IX-10 Payroll taxes$719,676
IX-11b Legal fees$25,319
IX-11g Other fees for services$766
IX-12 Advertising and promotion$43,240
IX-13 Office expenses$148,120
IX-17 Travel$669,205
IX-22 Depreciation, depletion and amortization$226,518
IX-23 Insurance$337,789
IX-24 Other expenses (24a–d)$17,642,318
IX-24e All other expenses$1,601,413
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$35,383,688
Part X · Balance sheet $15,823,445 assets, 16 lines filed
Asset lines not itemized here account for $60,546; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $451,768$539,919
X-2 Savings and temporary cash investmentsStart of year $626,057$751,139
X-4 Accounts receivableStart of year $6,139,813$7,875,259
X-8 Inventories for sale or useStart of year $35,553$35,159
X-9 Prepaid expenses and deferred chargesStart of year $213,369$303,413
X-10c Land, buildings and equipment, netStart of year $984,764$1,483,843
X-11 Publicly traded securitiesStart of year $2,694,844$4,566,879
X-15 Other assets$207,288
X-16 Total assetsStart of year $11,214,766$15,823,445
X-17 Accounts payable and accrued expensesStart of year $120,155$512,473
X-19 Deferred revenueStart of year $12,583,809$13,076,523
X-25 Other liabilitiesStart of year $1,953,719$2,337,387
X-26 Total liabilitiesStart of year $14,657,683$15,926,383
X-27 Net assets without donor restrictionsStart of year −$3,442,917−$102,938
X-32 Total net assets or fund balancesStart of year −$3,442,917−$102,938
X-33 Total liabilities and net assetsStart of year $11,214,766$15,823,445
Part XI · Reconciliation of net assets −$102,938 net assets at year end
XI-1 Total revenue$50,566,669
XI-2 Total expenses$35,383,688
XI-3 Revenue less expenses$15,182,981
XI-4 Net assets at start of year−$3,442,917
XI-5 Net unrealized gains (losses) on investments−$167,754
XI-9 Other changes in net assets−$11,675,248
XI-10 Net assets at end of year−$102,938

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

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