Civic Intelligence

The Silver Institute Inc

990 • Fiscal year 2019 • EIN 23-7108453

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 12, 2020

Organization Profilewww.silverinstitute.org
1400 I Street NWWashington, DC 20005

(202) 835-0185

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

10th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

62nd percentile

7.4%

Higher net margin than 62% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

98th percentile

101%

Faster asset growth than 98% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

91st percentile

31%

Faster revenue growth than 91% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$286,959

Up $144,442 (+101%) from 2018

Net Assets

Up

$286,959

Up $144,442 (+101%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin62nd percentile

Revenue

Up

$1,956,741

Up $457,635 (+31%) from 2018

Expenses

Up

$1,812,299

Up $215,177 (+13%) from 2018

Net Income

Up

$144,442

Up $242,458 (+247%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$800K$600K$400K$200K$0Assets 2012: $429,570Liabilities 2012: $0Net Assets 2012: $429,5702012Assets 2013: $470,556Liabilities 2013: $0Net Assets 2013: $470,5562013Assets 2014: $542,893Liabilities 2014: $0Net Assets 2014: $542,8932014Assets 2015: $142,175Liabilities 2015: $0Net Assets 2015: $142,1752015Assets 2016: $164,112Liabilities 2016: $0Net Assets 2016: $164,1122016Assets 2017: $240,533Liabilities 2017: $0Net Assets 2017: $240,5332017Assets 2018: $142,517Liabilities 2018: $0Net Assets 2018: $142,5172018Assets 2019: $286,959Liabilities 2019: $0Net Assets 2019: $286,9592019Assets 2020: $329,278Liabilities 2020: $0Net Assets 2020: $329,2782020Assets 2021: $259,122Liabilities 2021: $0Net Assets 2021: $259,1222021Assets 2022: $297,313Liabilities 2022: $0Net Assets 2022: $297,3132022Assets 2023: $515,361Liabilities 2023: $0Net Assets 2023: $515,3612023Assets 2024: $791,953Liabilities 2024: $0Net Assets 2024: $791,9532024

Highlighted filing

2019

Assets$286,959
Liabilities$0
Net Assets$286,959
Open 2019 Filing

Operations Trend

Revenue Growth91st percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2012: $1,840,2652012Revenue 2013: $1,839,158Expenses 2013: $1,798,172Net Income 2013: $40,9862013Revenue 2014: $1,962,003Expenses 2014: $1,889,666Net Income 2014: $72,3372014Revenue 2015: $1,464,244Expenses 2015: $1,864,962Net Income 2015: -$400,7182015Revenue 2016: $1,570,380Expenses 2016: $1,548,443Net Income 2016: $21,9372016Revenue 2017: $1,752,921Expenses 2017: $1,676,500Net Income 2017: $76,4212017Revenue 2018: $1,499,106Expenses 2018: $1,597,122Net Income 2018: -$98,0162018Revenue 2019: $1,956,741Expenses 2019: $1,812,299Net Income 2019: $144,4422019Revenue 2020: $1,604,300Expenses 2020: $1,561,981Net Income 2020: $42,3192020Revenue 2021: $1,368,292Expenses 2021: $1,438,448Net Income 2021: -$70,1562021Revenue 2022: $1,270,066Expenses 2022: $1,231,875Net Income 2022: $38,1912022Revenue 2023: $1,444,778Expenses 2023: $1,226,731Net Income 2023: $218,0472023Revenue 2024: $1,711,314Expenses 2024: $1,434,722Net Income 2024: $276,5922024

Highlighted filing

2019

Revenue$1,956,741
Expenses$1,812,299
Net Income$144,442
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 12, 2020
Return Version
2019v5.0
Gross Receipts
$1,956,741
Mission and Program Overview

Mission

The Silver Institute's purpose is that of promoting the welfare of the silver industry by incresing the knowledge of and demand for silver products across all end users. The Silver Institue had 32 members as of year end 2015.

The Silver Institute's purpose is that of promoting the welfare of the silver industry by increasing the knowledge of and demand for silver products across all end users. The Silver Institute had 23 members as of year end 2019.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$142,517$286,959▲ $144,442
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$142,517$286,959▲ $144,442
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$142,517$286,959▲ $144,442
Total Net Assets Fund Balance$142,517$286,959▲ $144,442
Total Liabilities and Net Assets / Fund Balance$142,517$286,959▲ $144,442
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Michael SteinmannPresident
Bradford CookeVice President
Ben Van KerkwijkDirector
Chiaki KanekoDirector
Chirag ThakkarDirector
David MadgeDirector
Erman DonmezDirector
Fernando AlanisDirector
Ignacio BustamanteDirector
John LambDirector
Keith NeumeyerDirector
Kevin HallDirector
Michael MesaricDirector
Mike ClarkDirector
Mitchell KrebsDirector
Octavio Alvidrez OrtegaDirector
Ounesh ReebyeDirector
Paul HealeyDirector
Phillips Baker JrDirector
Stephen OrrDirector
Terry HanlonDirector
Tony WilliamsDirector
Victor GobitzDirector
Michael DiRienzoExec Director & Secy
Carlos QuirogaAsst Treasurer
Joe UngersTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ksg LLCManagement Fees1400 I Street NW Suite 550, Washington, DC 20005$498,000
Michael Barlerin AssociatesSilver Promotion420 E 51st Street 5E, Ny, NY 10022$190,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,956,263
Investment Income
$478
Other Revenue
$0
Change in Net Assets
$144,442
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,812,299
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$498,000
All Other Expenses---$180,853
Other Expenses---$88,220
Conferences and Meetings---$30,029
Office Expenses---$17,655
Fees for Services Accounting---$7,800
Total Functional Expenses$0$0$0$1,812,299
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Ksg LLCShared OfficerManagement FeeNo$498,000

Loans and Receivables

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

Governance Checklist

Compiled or reviewed by an accountant
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“KSG, LLC provides association management services in connection with the implementation and administration of The Silver Institute.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The Silver Institute draws its membership from across the breadth of the silver industry. This includes leading silver mining houses, refiners, bullion suppliers, manufacturers of silver products and wholesalers of silver investment products”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Form 990 is made available upon request to the Board of Directors for their review. The Form 990 is reviewed in detail by the Institute's Executive Director.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Silver Institute does not have any employees. The Silver Institute is managed under contract by KSG, LLC. The Silver Institute's Executive Director is an employee of and is paid by KSG LLC. The management fee is determined by the Silver Institute's Executive Committee annually.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization structure of the Silver Institute is described on its web site. Financial statements and detailed governing documents are available upon written request. The Form 990 is available upon request and is available from the GuideStar web site.”

Filing and Contact Details

Filer

Filer Name
The Silver Institute Inc
EIN
23-7108453
Phone
2028350185
Address
1400 I Street NW, Washington, DC 20005

Signing Officer

Name
Michael DiRienzo
Title
Executive Director
Signed
2020-03-12
Discuss with paid preparer
Yes

Organization Details

Formed
1971
Legal Domicile
Ny
Voting Board Members
23
Independent Board Members
23
Employees
0

Preparer

Firm
Kosciw & Associates LLC
Address
331 N PITT ST, ALEXANDRIA, VA 22314-2508
Preparer
John M Kosciw CPA
Phone
7032830879
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IRS990/Form990PartVIISectionAGrp/PersonNm5Victor Gobitz
IRS990/Form990PartVIISectionAGrp/PersonNm6Erman Donmez
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IRS990/Form990PartVIISectionAGrp/PersonNm14Mitchell Krebs
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21President
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Asst Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt24Exec Dir & Secy
IRS990/Form990PartVIISectionAGrp/TitleTxt25Treasurer
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IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt023
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt01956741
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt023
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/TotalAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt0478
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0478
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt04
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
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IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0The Silver Institute's purpose is that of promoting the welfare of the silver industry by increasing the knowledge of and demand for silver products across all end users. The Silver Institute had 23 members as of year end 2019.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0286959
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OtherAssetsTotalGrp/EOYAmt00
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IRS990/OtherExpensesGrp/Desc0Silver Promotion Service
IRS990/OtherExpensesGrp/Desc1World Silver Survey
IRS990/OtherExpensesGrp/Desc2Market Reports
IRS990/OtherExpensesGrp/Desc3Sustainability Initiative
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IRS990/OtherExpensesGrp/TotalAmt297500
IRS990/OtherExpensesGrp/TotalAmt388220
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IRS990/ProgramServiceRevenueGrp/Desc0Membership Dues & Assessments
IRS990/ProgramServiceRevenueGrp/Desc1Miscellaneous
IRS990/ProgramServiceRevenueGrp/Desc2Publications
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1214
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2160127
IRS990/ProgSrvcAccomActy2Grp/Desc0The Silver Institute's General Program provides a variety of services benefiting the industry including: development of a Silver Promotion Service, an industry program to boost demand for sterling silver jewelry; increasing awareness and education about silver through the Silver Institute's web site, press releases and newsletters that highlight trends in the silver marketplace and fostering research of silver related applications.
IRS990/ProgSrvcAccomActy3Grp/Desc0The Silver Institute's Industrial Program provides a forum for research to stimulate new and significant industry uses of silver and education of regulators and the public on the positive benefits of silver. The Silver Institute put in place a monitoring program to work with members and regulators regarding the use of silver in nanotechnology and as a general microbial.
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$286,959
Liabilities
$0
Net assets
$286,959
Revenue
$1,956,741
Expenses
$1,812,299
Net income
$144,442
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.00$0.79$1.71$1.43$0.28
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.52$0.00$0.52$1.44$1.23$0.22
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.30$0.00$0.30$1.27$1.23$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.26$0.00$0.26$1.37$1.44$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.00$0.33$1.60$1.56$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.29$0.00$0.29$1.96$1.81$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.14$0.00$0.14$1.50$1.60$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$1.75$1.68$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$1.57$1.55$0.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.14$0.00$0.14$1.46$1.86$0.40
2014Detailed filing. Detailed filing data is available for this year.$0.54$0.00$0.54$1.96$1.89$0.07
2013Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$1.84$1.80$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.00$0.43$1.84