Civic Intelligence

Polymer Processing Institute at Njit

990 • Fiscal year 2020 • EIN 22-2458275

Jul 01, 2019 to Jun 30, 2020 • Filed on May 15, 2021

Organization ProfileWWW.POLYMERS-PPI.ORG

View Organization Page

NJIT-GITC Building Room 3901University Heights New, NJ 07102

(973) 596-5896

Siviq Scores

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

Liabilities / Assets

57th percentile

0.15x

Higher debt load relative to assets than 57% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

59th percentile

0.20x

Higher debt load relative to revenue than 59% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

43rd percentile

2.0%

Higher net margin than 43% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$250,726

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 9.6% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

57th percentile

9.1%

Faster asset growth than 57% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

64th percentile

8.9%

Faster revenue growth than 64% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$3,561,387

Up $297,236 (+9.1%) from 2019

Net Assets

Up

$3,034,740

Up $53,342 (+1.8%) from 2019

Liabilities

Up

$526,647

Up $243,894 (+86%) from 2019

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin43rd percentile

Revenue

Up

$2,612,174

Up $213,647 (+8.9%) from 2019

Expenses

Up

$2,558,832

Up $518,353 (+25%) from 2019

Net Income

Down

$53,342

Down $304,706 (-85%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,836,831Liabilities 2010: $68,157Net Assets 2010: $1,768,6742010Assets 2011: $2,223,895Liabilities 2011: $97,838Net Assets 2011: $2,126,0572011Assets 2012: $1,865,318Liabilities 2012: $81,392Net Assets 2012: $1,783,9262012Assets 2013: $1,342,602Liabilities 2013: $89,528Net Assets 2013: $1,253,0742013Assets 2014: $865,928Liabilities 2014: $82,851Net Assets 2014: $783,0772014Assets 2015: $783,244Liabilities 2015: $329,101Net Assets 2015: $454,1432015Assets 2016: $1,526,066Liabilities 2016: $376,777Net Assets 2016: $1,149,2892016Assets 2017: $2,278,950Liabilities 2017: $341,162Net Assets 2017: $1,937,7882017Assets 2018: $2,977,658Liabilities 2018: $354,308Net Assets 2018: $2,623,3502018Assets 2019: $3,264,151Liabilities 2019: $282,753Net Assets 2019: $2,981,3982019Assets 2020: $3,561,387Liabilities 2020: $526,647Net Assets 2020: $3,034,7402020Assets 2021: $4,651,810Liabilities 2021: $677,183Net Assets 2021: $3,974,6272021Assets 2022: $5,522,179Liabilities 2022: $414,175Net Assets 2022: $5,108,0042022Assets 2023: $6,198,011Liabilities 2023: $504,835Net Assets 2023: $5,693,1762023Assets 2024: $5,396,496Liabilities 2024: $515,338Net Assets 2024: $4,881,1582024

Highlighted filing

2020

Assets$3,561,387
Liabilities$526,647
Net Assets$3,034,740
Open 2020 Filing

Operations Trend

Revenue Growth64th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,257,7132010Revenue 2011: $2,371,866Expenses 2011: $2,014,483Net Income 2011: $357,3832011Expenses 2012: $1,684,7302012Expenses 2013: $1,510,3332013Revenue 2014: $683,741Expenses 2014: $1,153,738Net Income 2014: -$469,9972014Revenue 2015: $1,082,747Expenses 2015: $1,411,681Net Income 2015: -$328,9342015Revenue 2016: $2,415,760Expenses 2016: $1,706,571Net Income 2016: $709,1892016Revenue 2017: $2,337,763Expenses 2017: $1,549,264Net Income 2017: $788,4992017Revenue 2018: $2,729,772Expenses 2018: $2,044,210Net Income 2018: $685,5622018Revenue 2019: $2,398,527Expenses 2019: $2,040,479Net Income 2019: $358,0482019Revenue 2020: $2,612,174Expenses 2020: $2,558,832Net Income 2020: $53,3422020Revenue 2021: $5,118,235Expenses 2021: $4,178,348Net Income 2021: $939,8872021Revenue 2022: $5,166,367Expenses 2022: $4,985,915Net Income 2022: $180,4522022Revenue 2023: $5,034,613Expenses 2023: $4,449,441Net Income 2023: $585,1722023Revenue 2024: $3,254,373Expenses 2024: $4,066,391Net Income 2024: -$812,0182024

Highlighted filing

2020

Revenue$2,612,174
Expenses$2,558,832
Net Income$53,342
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 15, 2021
Return Version
2019v5.1
Gross Receipts
$3,005,174
Mission and Program Overview

Mission

Polymer processing institute ("ppi") is a private, non-for-profit new jersey corporation, established in 1982. Ppi was established for the purpose of advancing the general knowledge of the public in the art, science and technology of polymer processing through scientific research and education performed for the northern new jersey area. Significant revenues are received from subcontracts with the new jersey institute of technology ("njit") which contracts with a related entity which contracts with the federal government on research projects in the field of polymers and from research fees from public and private companies.

Provide research, education, publications to the polymer field for medical devices and pharmaceutical applications, packaging, recycling, paints and coatings.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$793,976$1,299,536▲ $505,560
Savings and Temporary Cash Investments$1,268,139$1,283,608▲ $15,469
Accounts Receivable$382,287$595,911▲ $213,624
Land, Buildings, and Equipment, Net$809,350$371,853▼ $437,497
Prepaid Expenses and Deferred Charges$3,466$3,546▲ $80
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$3,264,151$3,561,387▲ $297,236
Other Assets Total$6,933$6,933→ $0
Liabilities
Accounts Payable and Accrued Expenses$273,953$336,185▲ $62,232
Unsecured Notes Loans Payable$0$181,662▲ $181,662
Deferred Revenue$8,800$8,800→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$282,753$526,647▲ $243,894
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,981,398$3,034,740▲ $53,342
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$2,981,398$3,034,740▲ $53,342
Total Liabilities and Net Assets / Fund Balance$3,264,151$3,561,387▲ $297,236

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$371,853$941,333$1,313,186
Leasehold Improvements$0$44,228$44,228
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Ming Wan YoungPresident - TrusteeFT$228,870$21,856$250,726
Kasia StrycharzSecretaryFT$50,417$3,773$54,190
Dr Costas G Gogosboard chairman - TRUSTEEPT$33,000-$33,000

Board Members and Trustees

NameTitle
Dr Kun H HyunPresident - Emeritus
Charlie MartinTrustee
John ChristianoTrustee
Lefteris ValsamisTrustee
Paul AndersonTrustee
Stan JakopinTrustee
Sy FinderTrustee
Timothy GibsonTrustee
Viggy MehtaTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$1,537,789
Program Service Revenue
$1,451,884
Investment Income
$-377,529
Other Revenue
$30
Change in Net Assets
$53,342

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,612,174
Total Revenue per Audited Statements
$2,612,174
Total Revenue per Form 990
$2,612,174
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,398,957
Salaries, Compensation, and Employee Benefits$1,159,875
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$642,987--$642,987
Current Officers, Directors, Trustees, and Key Employees$190,149$154,989$0$345,138
Fees for Services Other$211,106$60,156-$271,262
Occupancy$116,569$16,052-$132,621
Office Expenses$85,534$12,202-$97,736
Travel$70,998$24,437-$95,435
Depreciation Depletion$76,319--$76,319
Other Employee Benefits$76,106--$76,106
Payroll Taxes$52,948$7,583-$60,531
Pension Plan Contributions$35,113--$35,113
Fees for Services Accounting-$32,136-$32,136
Insurance$23,268$3,204-$26,472
Other Expenses$12,500--$12,500
Fees for Services Legal-$3,920-$3,920
Total Functional Expenses$2,244,153$314,679$0$2,558,832

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,558,832
Total Expenses per Audited Statements$2,558,832
Total Expenses per Form 990$2,558,832
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Polymer Processing Institute
EIN
22-2458275
In Care Of
% DR YOUNG
Phone
9735965896
Address
NJIT-GITC Building Room 3901, University Heights New, NJ 07102

Signing Officer

Name
Ming Wan Young
Title
President
Phone
9735965896
Signed
2021-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ming Wan Young
Formed
1982
Legal Domicile
Nj
Voting Board Members
11
Independent Board Members
9
Employees
17
Volunteers
9

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Brad Caruso
Phone
7328281614
Supplemental Narrative

Additional Explanations

Core Form 990

“Part VI, Section A, Question 8a & b THERE ARE NO COMMITTEES OTHER THAN THE BOARD OF TRUSTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. Part VI, Section B, 11B THE FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS FOR THEIR REVIEW AND COMMENTS. DR. GOGOS AND DR. YOUNG GIVE IT A FINAL REVIEW PRIOR TO APPROVING THE FORM 990 TO BE FILED. PART VI, SECTION B, QUESTION 15A The President's compensation is reviewed by the Chairman of the board and goals are set. The compensation is based on comparable entities and effort produced. The chairman ultimately approves the president's contract. Part VI, Section C, Line 19 The organization makes its financial information available to the public upon request and via e-mail requests through its website.”

Form 990 Part IX Line 11G

“Description:other consultants total fees:271262”

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

“PPI is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been recorded in the statements of activities and changes in net assets. PPIs accounting policy is to evaluate uncertain tax positions in accordance with the accounting pronouncement on accounting for contingencies. PPI had no unrecognized tax benefits at June 30, 2020 and 2019 and paid no interest or penalties for the years ending June 30, 2020 and 2019.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT - EMERITUS
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,561,387
Liabilities
$526,647
Net assets
$3,034,740
Revenue
$2,612,174
Expenses
$2,558,832
Net income
$53,342
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.40$0.52$4.88$3.25$4.07$0.81
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.20$0.50$5.69$5.03$4.45$0.59
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.52$0.41$5.11$5.17$4.99$0.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.65$0.68$3.97$5.12$4.18$0.94
2020Detailed filing. Detailed filing data is available for this year.$3.56$0.53$3.03$2.61$2.56$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.26$0.28$2.98$2.40$2.04$0.36
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.98$0.35$2.62$2.73$2.04$0.69
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.28$0.34$1.94$2.34$1.55$0.79
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.53$0.38$1.15$2.42$1.71$0.71
2015Detailed filing. Detailed filing data is available for this year.$0.78$0.33$0.45$1.08$1.41$0.33
2014Detailed filing. Detailed filing data is available for this year.$0.87$0.08$0.78$0.68$1.15$0.47
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.09$1.25$1.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.87$0.08$1.78$1.68
2011Summary only. Only limited summary data is available for this year.$2.22$0.10$2.13$2.37$2.01$0.36
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.84$0.07$1.77$2.26