Civic Intelligence

Friction Materials Standards Institute Inc

990 • Fiscal year 2021 • EIN 13-1606491

Jan 01, 2021 to Dec 31, 2021 • Filed on May 04, 2022

Organization ProfileWWW.FMSI.ORG

Refreshing map…

3069 University Drive 210Auburn Hills, MI 48326

(203) 245-8425

Siviq Scores

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

Liabilities / Assets

45th percentile

0.12x

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

55th percentile

0.24x

Higher debt load relative to revenue than 55% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

8th percentile

-15%

Higher net margin than 8% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

9th percentile

-6.8%

Faster asset growth than 9% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

11th percentile

-21%

Faster revenue growth than 11% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets45th percentile

Assets

Down

$1,034,616

Down $75,416 (-6.8%) from 2020

Net Assets

Down

$911,775

Down $88,030 (-8.8%) from 2020

Liabilities

Up

$122,841

Up $12,614 (+11%) from 2020

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin8th percentile

Revenue

Down

$521,842

Down $136,673 (-21%) from 2020

Expenses

Up

$597,767

Up $96,621 (+19%) from 2020

Net Income

Down

-$75,925

Down $233,294 (-148%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth9th 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

2021

Assets$1,034,616
Liabilities$122,841
Net Assets$911,775
Open 2021 Filing

Operations Trend

Revenue Growth11th 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

2021

Revenue$521,842
Expenses$597,767
Net Income-$75,925
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 4, 2022
Return Version
2021v4.2
Gross Receipts
$521,842
Mission and Program Overview

Mission

NONE

Gathers information for manufacturers of automotive friction materials.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$373,354$465,402▲ $92,048
Investments in Publicly Traded Securities$336,030$240,321▼ $95,709
Cash and Non-Interest-Bearing Accounts$172,223$129,003▼ $43,220
Land, Buildings, and Equipment, Net$67,724$107,965▲ $40,241
Prepaid Expenses and Deferred Charges$146,761$74,125▼ $72,636
Accounts Receivable$10,315$14,175▲ $3,860
Total Assets$1,110,032$1,034,616▼ $75,416
Other Assets Total$3,625$3,625→ $0
Liabilities
Accounts Payable and Accrued Expenses$22,140$85,516▲ $63,376
Deferred Revenue$88,087$37,325▼ $50,762
Total Liabilities$110,227$122,841▲ $12,614
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$587,475$486,620▼ $100,855
Net Assets With Donor Restrictions$412,330$425,155▲ $12,825
Total Net Assets Fund Balance$999,805$911,775▼ $88,030
Total Liabilities and Net Assets / Fund Balance$1,110,032$1,034,616▼ $75,416

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$107,965$114,833$222,798
Compensation and Service Providers
Top Officer Pay25th percentile

Board Members and Trustees

NameTitle
Bill MurrayDirector/chairman
Frank OlivetoDirector/president
Skip CarrollDirector/second Vice Chairman
Mark PhippsDirector/vice Chairman
Greg VyletelDirector
Jason LangDirector
Kelisson De AzevedoDirector
Mark LavelleDirector
William CarneyDirector/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$488,553
Program Service Revenue
$0
Investment Income
$7,886
Other Revenue
$25,403
Change in Net Assets
$-75,925

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$0
Total Revenue per Form 990
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$440,722
Salaries, Compensation, and Employee Benefits$157,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$136,926
Conferences and Meetings---$109,269
Depreciation Depletion---$41,489
All Other Expenses---$37,478
Occupancy---$32,308
Fees for Services Legal---$23,886
Fees for Services Accounting---$18,957
Payroll Taxes---$14,445
Other Expenses---$8,048
Pension Plan Contributions---$5,674
Travel---$4,629
Insurance---$4,033
Office Expenses---$3,811
Interest---$535
Total Functional Expenses$0$0$0$597,767

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$597,767
Total Expenses per Audited Statements$597,767
Total Expenses per Form 990$597,767
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Audit committee
No
Business relationship with 35% controlled entity
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
3069 UNIVERSITY DRIVE 210, AUBURN HILLS, MI 48326

Signing Officer

Name
Frank Oliveto
Title
President
Phone
2032458425
Signed
2022-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Oliveto
Formed
1948
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
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 Appendix345 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/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01110032
IRS990/TotalAssetsEOYAmt01034616
IRS990/TotalAssetsGrp/BOYAmt01110032
IRS990/TotalAssetsGrp/EOYAmt01034616
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0488553
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/TotalAmt0597767
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0110227
IRS990/TotalLiabilitiesEOYAmt0122841
IRS990/TotalLiabilitiesGrp/BOYAmt0110227
IRS990/TotalLiabilitiesGrp/EOYAmt0122841
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0999805
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0911775
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt07886
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt025403
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0521842
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01110032
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01034616
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt04629
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03069 UNIVERSITY DRIVE SUITE 210
IRS990/USAddress/CityNm0AUBURN HILLS
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048326
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.FMSI.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0FRANK OLIVETO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02032458425
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRICTION MATERIALS STANDARDS INSTITUTE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INC
ReturnHeader/Filer/BusinessNameControlTxt0FRIC
ReturnHeader/Filer/EIN0131606491
ReturnHeader/Filer/PhoneNum02032458425
ReturnHeader/Filer/USAddress/AddressLine1Txt03069 UNIVERSITY DRIVE 210
ReturnHeader/Filer/USAddress/CityNm0AUBURN HILLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048326
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/PreparationDt02022-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DOMINIC SCARANO JR CPA
ReturnHeader/ReturnTs02022-05-09T14:49:58-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0FRANK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0OLIVETO
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,034,616
Liabilities
$122,841
Net assets
$911,775
Revenue
$521,842
Expenses
$597,767
Net income
-$75,925
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
2021Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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