Civic Intelligence

Friction Materials Standards Institute Inc

990 • Fiscal year 2017 • EIN 13-1606491

Apr 01, 2016 to Mar 31, 2017 • Filed on Feb 14, 2018

Organization Profilewww.fmsi.org
7850 Second Street No 2000Dexter, MI 48130

(203) 245-8425

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

45th percentile

0.14x

Higher debt load relative to assets than 45% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

72nd percentile

0.36x

Higher debt load relative to revenue than 72% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Net Margin

22nd percentile

-3.2%

Higher net margin than 22% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

42nd percentile

2.9%

Faster asset growth than 42% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

14th percentile

-9.6%

Faster revenue growth than 14% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$1,094,933

Up $31,348 (+2.9%) from 2016

Net Assets

Down

$940,516

Down $32,877 (-3.4%) from 2016

Liabilities

Up

$154,417

Up $64,225 (+71%) from 2016

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin22nd percentile

Revenue

Down

$427,961

Down $45,650 (-9.6%) from 2016

Expenses

Up

$441,841

Up $76,510 (+21%) from 2016

Net Income

Down

-$13,880

Down $122,160 (-113%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2010: $570,218Liabilities 2010: $73,243Net Assets 2010: $496,9752010Assets 2011: $660,850Liabilities 2011: $70,283Net Assets 2011: $590,5672011Assets 2012: $727,096Liabilities 2012: $71,420Net Assets 2012: $655,6762012Assets 2013: $750,794Liabilities 2013: $72,631Net Assets 2013: $678,1632013Assets 2014: $837,133Liabilities 2014: $74,559Net Assets 2014: $762,5742014Assets 2015: $938,382Liabilities 2015: $76,592Net Assets 2015: $861,7902015Assets 2016: $1,063,585Liabilities 2016: $90,192Net Assets 2016: $973,3932016Assets 2017: $1,094,933Liabilities 2017: $154,417Net Assets 2017: $940,5162017Assets 2018: $904,319Liabilities 2018: $74,025Net Assets 2018: $830,2942018Assets 2019: $919,986Liabilities 2019: $85,404Net Assets 2019: $834,5822019Assets 2020: $1,110,032Liabilities 2020: $110,227Net Assets 2020: $999,8052020Assets 2021: $1,034,616Liabilities 2021: $122,841Net Assets 2021: $911,7752021Assets 2022: $1,084,032Liabilities 2022: $250,431Net Assets 2022: $833,6012022Assets 2023: $946,936Liabilities 2023: $200,853Net Assets 2023: $746,0832023Assets 2024: $929,226Liabilities 2024: $216,145Net Assets 2024: $713,0812024

Highlighted filing

2017

Assets$1,094,933
Liabilities$154,417
Net Assets$940,516
Open 2017 Filing

Operations Trend

Revenue Growth14th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $275,8752010Expenses 2011: $317,0842011Expenses 2012: $306,6832012Revenue 2013: $344,666Expenses 2013: $320,503Net Income 2013: $24,1632013Revenue 2014: $377,976Expenses 2014: $290,932Net Income 2014: $87,0442014Revenue 2015: $400,343Expenses 2015: $299,826Net Income 2015: $100,5172015Revenue 2016: $473,611Expenses 2016: $365,331Net Income 2016: $108,2802016Revenue 2017: $427,961Expenses 2017: $441,841Net Income 2017: -$13,8802017Revenue 2018: $498,779Expenses 2018: $547,774Net Income 2018: -$48,9952018Revenue 2019: $508,598Expenses 2019: $513,474Net Income 2019: -$4,8762019Revenue 2020: $658,515Expenses 2020: $501,146Net Income 2020: $157,3692020Revenue 2021: $521,842Expenses 2021: $597,767Net Income 2021: -$75,9252021Revenue 2022: $575,953Expenses 2022: $637,598Net Income 2022: -$61,6452022Revenue 2023: $618,367Expenses 2023: $705,043Net Income 2023: -$86,6762023Revenue 2024: $738,661Expenses 2024: $771,049Net Income 2024: -$32,3882024

Highlighted filing

2017

Revenue$427,961
Expenses$441,841
Net Income-$13,880
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2016 to Mar 31, 2017
Signed
Feb 14, 2018
Return Version
2016v3.0
Gross Receipts
$427,961
Mission and Program Overview

Mission

NONE

Gathers information for manufacturers of automotive friction materials.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$652,743$626,345▼ $26,398
Savings and Temporary Cash Investments$236,822$278,637▲ $41,815
Cash and Non-Interest-Bearing Accounts$168,825$174,695▲ $5,870
Accounts Receivable-$8,654-
Prepaid Expenses and Deferred Charges$4,169$4,560▲ $391
Land, Buildings, and Equipment, Net$1,660$1,017▼ $643
Total Assets$1,065,244$1,094,933▲ $29,689
Other Assets Total$1,025$1,025→ $0
Liabilities
Deferred Revenue$88,400$88,240▼ $160
Accounts Payable and Accrued Expenses$1,792$66,177▲ $64,385
Total Liabilities$90,192$154,417▲ $64,225
Net Assets / Fund Balance
Unrestricted Net Assets$571,646$487,114▼ $84,532
Temporarily Rstr Net Assets$403,406$453,402▲ $49,996
Total Net Assets Fund Balance$975,052$940,516▼ $34,536
Total Liabilities and Net Assets / Fund Balance$1,065,244$1,094,933▲ $29,689

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,017$19,575$20,592
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patrick HealeyPast PresidentFT$57,327$8,599$65,926

Board Members and Trustees

NameTitle
Frank OlivetoDirector/President
Bill CarneyDirECTOR/Vice Chairman
Bill MurrayDirector
Cristina CasimiroDirector
Jerry ForystekDirector
Kirby PruittDirector
Mark PhippsDirector
Steve BirdDirector
Walter BritlandDirector
William CarneyDirector
Rick JamiesonDirector/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$356,872
Program Service Revenue
$0
Investment Income
$16,563
Other Revenue
$54,526
Change in Net Assets
$-13,880
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$326,969
Salaries, Compensation, and Employee Benefits$114,872
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal---$100,317
Current Officers, Directors, Trustees, and Key Employees---$65,926
Conferences and Meetings---$36,976
Other Salaries and Wages---$35,632
Travel---$29,589
Occupancy---$20,376
All Other Expenses---$19,403
Fees for Services Accounting---$15,600
Payroll Taxes---$13,314
Other Expenses---$5,157
Office Expenses---$1,267
Depreciation Depletion---$643
Total Functional Expenses$0$0$0$441,841
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“A copy of the 990 is given to the president of the organization for review before filing. He will examine it for any discrepancies.”

Form 990, Part VI, Section C, line 19

“All documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Friction Materials Standards Institute
EIN
13-1606491
Phone
2032458425
Address
7850 Second Street No 2000, Dexter, MI 48130

Signing Officer

Name
Frank Oliveto
Title
President
Phone
2032458425
Signed
2018-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Oliveto
Formed
1948
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
0
Employees
2
Volunteers
0

Preparer

Firm
Bailey Scarano LLC
Address
1224 MAIN STREET, BRANFORD, CT 06405
Preparer
Dominic Scarano Jr CPA
Phone
2034811120
Raw XML Appendix346 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/TotalLiabilitiesGrp/EOYAmt0154417
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0975052
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0940516
IRS990/TotalOtherCompensationAmt08599
IRS990/TotalReportableCompFromOrgAmt057327
IRS990/TotalRevenueGrp/ExclusionAmt016563
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt054526
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0427961
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01065244
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01094933
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt029589
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0571646
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0487114
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07850 Second Street Suite 2000
IRS990/USAddress/CityNm0Dexter
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048130
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.fmsi.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Frank Oliveto
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02032458425
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Friction Materials Standards Institute
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Inc
ReturnHeader/Filer/BusinessNameControlTxt0FRIC
ReturnHeader/Filer/EIN0131606491
ReturnHeader/Filer/PhoneNum02032458425
ReturnHeader/Filer/USAddress/AddressLine1Txt07850 Second Street No 2000
ReturnHeader/Filer/USAddress/CityNm0Dexter
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.93.19.201
ReturnHeader/FilingSecurityInformation/IPDt02018-02-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm015:16:05
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0272562250
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAILEY SCARANO LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01224 MAIN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BRANFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006405
ReturnHeader/PreparerPersonGrp/PhoneNum02034811120
ReturnHeader/PreparerPersonGrp/PreparationDt02018-02-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DOMINIC SCARANO JR CPA
ReturnHeader/ReturnTs02018-02-15T14:45:08-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-04-01
ReturnHeader/TaxPeriodEndDt02017-03-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,094,933
Liabilities
$154,417
Net assets
$940,516
Revenue
$427,961
Expenses
$441,841
Net income
-$13,880
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.22$0.71$0.74$0.77$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.95$0.20$0.75$0.62$0.71$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.08$0.25$0.83$0.58$0.64$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$0.12$0.91$0.52$0.60$0.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.11$1.00$0.66$0.50$0.16
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.09$0.83$0.51$0.51$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.07$0.83$0.50$0.55$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.09$0.15$0.94$0.43$0.44$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.09$0.97$0.47$0.37$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.94$0.08$0.86$0.40$0.30$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.84$0.07$0.76$0.38$0.29$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.07$0.68$0.34$0.32$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.07$0.66$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.66$0.07$0.59$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.07$0.50$0.28