Civic Intelligence

Composite Recycling Technology Center

990 • Fiscal year 2020 • EIN 47-5271830

Jan 01, 2020 to Dec 31, 2020 • Filed on May 05, 2021

2220 West 18th StreetPort Angeles, WA 98363

(360) 819-1204

Siviq Scores

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

Liabilities / Assets

78th percentile

0.45x

Higher debt load relative to assets than 78% of similar nonprofits.

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

Liabilities / Revenue

82nd percentile

0.71x

Higher debt load relative to revenue than 82% of similar nonprofits.

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

Net Margin

54th percentile

7.1%

Higher net margin than 54% of similar nonprofits.

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

Top Officer Pay

62nd percentile

$84,430

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

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

Asset Growth

82nd percentile

38%

Faster asset growth than 82% of similar nonprofits.

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

Revenue Growth

64th percentile

9.3%

Faster revenue growth than 64% of similar nonprofits.

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

Assets

Up

$2,088,054

Up $572,256 (+38%) from 2019

Net Assets

Up

$1,158,783

Up $93,038 (+8.7%) from 2019

Liabilities

Up

$929,271

Up $479,218 (+106%) from 2019

Revenue

Up

$1,308,035

Up $111,306 (+9.3%) from 2019

Expenses

Down

$1,215,087

Down $128,055 (-9.5%) from 2019

Net Income

Up

$92,948

Up $239,361 (+163%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2016: $1,517,705Liabilities 2016: $527,598Net Assets 2016: $990,1082016Assets 2017: $1,669,601Liabilities 2017: $51,122Net Assets 2017: $1,618,4792017Assets 2018: $1,518,756Liabilities 2018: $306,637Net Assets 2018: $1,212,1192018Assets 2019: $1,515,798Liabilities 2019: $450,053Net Assets 2019: $1,065,7452019Assets 2020: $2,088,054Liabilities 2020: $929,271Net Assets 2020: $1,158,7832020Assets 2021: $3,377,751Liabilities 2021: $2,233,955Net Assets 2021: $1,143,7962021Assets 2022: $3,654,591Liabilities 2022: $2,111,705Net Assets 2022: $1,542,8862022Assets 2023: $5,404,162Liabilities 2023: $2,867,335Net Assets 2023: $2,536,8272023Assets 2024: $5,060,253Liabilities 2024: $2,207,591Net Assets 2024: $2,852,6622024

Highlighted filing

2020

Assets$2,088,054
Liabilities$929,271
Net Assets$1,158,783

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $1,468,334Expenses 2016: $536,389Net Income 2016: $931,9452016Revenue 2017: $1,970,461Expenses 2017: $1,342,090Net Income 2017: $628,3712017Revenue 2018: $1,066,306Expenses 2018: $1,472,667Net Income 2018: -$406,3612018Revenue 2019: $1,196,729Expenses 2019: $1,343,142Net Income 2019: -$146,4132019Revenue 2020: $1,308,035Expenses 2020: $1,215,087Net Income 2020: $92,9482020Revenue 2021: $1,383,273Expenses 2021: $1,421,917Net Income 2021: -$38,6442021Revenue 2022: $2,412,191Expenses 2022: $2,013,113Net Income 2022: $399,0782022Revenue 2023: $4,254,587Expenses 2023: $3,253,485Net Income 2023: $1,001,1022023Revenue 2024: $4,611,564Expenses 2024: $4,225,621Net Income 2024: $385,9432024

Highlighted filing

2020

Revenue$1,308,035
Expenses$1,215,087
Net Income$92,948
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 5, 2021
Return Version
2020v4.0
Gross Receipts
$1,308,035
Mission and Program Overview

Mission

Recycle and re-purpose carbon fiber scrap material to reduce landfill waste and to provide employment.

Recycle and repurpose carbon fiber scrap material to reduce landfill waste and to provide employment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,146,767$1,225,642▲ $78,875
Inventories for Sale or Use$143,211$625,712▲ $482,501
Savings and Temporary Cash Investments$67,675$182,546▲ $114,871
Loans From Officers Directors$35,322$69,862▲ $34,540
Accounts Receivable$30,758$32,518▲ $1,760
Cash and Non-Interest-Bearing Accounts$127,388$21,636▼ $105,752
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
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,515,799$2,088,054▲ $572,255
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$349,011$747,071▲ $398,060
Accounts Payable and Accrued Expenses$22,404$87,748▲ $65,344
Other Liabilities$43,316$24,590▼ $18,726
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$450,053$929,271▲ $479,218
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,065,746$1,158,783▲ $93,037
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$1,065,746$1,158,783▲ $93,037
Total Liabilities and Net Assets / Fund Balance$1,515,799$2,088,054▲ $572,255

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$1,225,642$520,280$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
David L WalterCEOFT$84,430$84,430

Board Members and Trustees

NameTitle
Charles BrandtChairman of Board
Andy Bridgemember BOD
Joe McSwineymember BOD
Loren Lyonmember BOD
Ray GroveSecretary BOD
Nobuyuki AdagiriTreasurer BOD
Revenue and Support

Revenue Composition

Contributions and Grants
$551,755
Program Service Revenue
$0
Investment Income
$2,808
Other Revenue
$753,472
All Other Contributions
$214,686
Change in Net Assets
$92,948

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table9$213,720industry standard
Total Noncash Contributions9$213,720-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$664,674
Other Expenses$550,413
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$474,955$0$0$474,955
Depreciation Depletion$131,314$0$0$131,314
Occupancy$110,526$0$0$110,526
Current Officers, Directors, Trustees, and Key Employees$84,430$0$0$84,430
Payroll Taxes$56,095$0$0$56,095
All Other Expenses$44,594$0$0$44,594
Other Employee Benefits$29,703$0$0$29,703
Other Expenses$28,101$0$0$28,101
Pension Plan Contributions$19,491$0$0$19,491
Interest$16,966$0$0$16,966
Information Technology$14,575$0$0$14,575
Fees for Services Other$13,749$0$0$13,749
Fees for Services Management$9,000$0$0$9,000
Advertising$8,278$0$0$8,278
Office Expenses$7,333$0$0$7,333
Insurance$5,949$0$0$5,949
Travel$2,370$0$0$2,370
Fees for Services Legal$765$0$0$765
Total Functional Expenses$1,215,087$0$0$1,215,087
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
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$35,322$69,862▲ $34,540
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Cards$9,115
WA State Sales Tax$8,232
Payroll Taxes$5,195
Customer Advances$2,048
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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

Governance Explanations

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

This 990 was prepared by the on-staff accountant using financial statements direct from company accounting software. The 990 review was performed by the CEO. The Board of Directors reviews financial statements on an ongoing monthly basis and is an essential point of review at year end.

Form 990, Part VI, Section B, Line 15

Board members are involved in determining and approving compensation. Comparability data was used to determine fair comp for CEO.

Form 990, Part VI, Section C, Line 19

The organization makes all records available to the public at request. Reports to grant providers were submitted as required.

Filing and Contact Details

Filer

Filer Name
Composite Recycling Technology Center
EIN
47-5271830
Phone
3608191204
Address
2220 West 18th Street, Port Angeles, WA 98363

Signing Officer

Name
Dave Walter
Title
CEO
Phone
3608191203
Signed
2021-05-05

Organization Details

Principal Officer
David L Walter
Formed
2015
Legal Domicile
Wa
Voting Board Members
7
Independent Board Members
7
Employees
21
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

"Other" Program Services includes additional grant receipts, donations, COVID relief (forgiven) loans, product sales and engineering services.

Raw XML AppendixShowing 400 of 605 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/MissionDesc0Recycle and repurpose carbon fiber scrap material to reduce landfill waste and to provide employment.
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IRS990/PrincipalOfficerNm0David L Walter
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IRS990/ProgSrvcAccomActy2Grp/Desc0Port of Port Angeles CERB - Community Economic Revitalization Board grant was provided by the WA State Dept. of Commerce. Composite Recycling Tech Center led a project to analyze and determine the feasibility of establishing a wood thermal modification (TM) facility on the Olympic Peninsula for processing dimensional lumber, notably Western Hemlock, and to examine the potential near-term and future markets for this thermally modified lumber.
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