Liabilities / Assets
26th percentile
Higher debt load relative to assets than 26% of similar nonprofits.
Aisc Education Foundation Inc
990 • Fiscal year 2012 • EIN 51-0243833
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.02x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
32nd percentile
Faster asset growth than 32% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Down$1,104,497
Down $31,032 (-2.7%) from 2011
Net Assets
Down$1,086,684
Down $34,940 (-3.1%) from 2011
Liabilities
Up$17,813
Up $3,908 (+28%) from 2011
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Up$295,654
Up $29,985 (+11%) from 2011
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2012 to Dec 31, 2012
- Signed
- Jul 2, 2013
- Return Version
- 2012v2.1
- Gross Receipts
- $922,403
Mission and Program Overview
Mission
The foundation shall operate exclusively for charitable, educational, and scientific purposes within the meaning of 501(c)(3) of the internal revenue code of 1986, as amended. It shall have, without limitation, the following powers: see continued mission on schedule oto receive contributions, to accept, hold, invest, reinvest and administer any gifts, requests, devises, benefits or trusts, and any property of any kind whatsoever, both real and personal, and to use, disburse, or distribute the income or principal thereof for education scholarships and fellowships to further competence, creativity and interest in the fabricated structural steel and engineering design industries and for all other charitable, educational, and scientific purposes allowed by the internal revenue code, and the illinois general not for profit law.
Major Activities
- Activity 2
- The Foundation contributed funds to AISC Holdings, Inc. for the purpose of updating "SIMON", a bridge design software product. The product is offered as a free download to bridge designers.
- Activity 3
- In 2012, the Foundation sponsored the National Student Bridge Competition, a university level competition. Winners of the regional competition (sponsored by AISC Holdings, Inc.) compete in a national program.
Filing and Contact Details
Filer
- EIN
- 51-0243833
Raw XML AppendixShowing 400 of 516 raw XML fields
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| IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation | 0 | AISC Holdings, Inc. and the Foundation have received favorable determination letters from the Internal Revenue Service, stating that they are exempt from federal income taxes under the provisions of Sections 501(c)(6) and 501(c)(3), respectively, of the Internal Revenue Code of 1986 (IRC), except for income taxes pertaining to unrelated business income. The Financial Accounting Standards Board issued guidance that requires tax effects from uncertain tax positions to be recognized in the financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The Financial Accounting Standards Board issued guidance that requires tax effects from an uncertain tax position to be recognized in the consolidated financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. Management has determined there are no material uncertain tax positions that require recognition in the consolidated financial statements. The tax years ended 2009, 2010, 2011 and 2012 are still open to audit for both federal and state purposes. This guidance did not have any impact on the Institute's consolidated financial statements. |
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| IRS990ScheduleI/Form990ScheduleIPartIV/Explanation | 0 | The Foundation made a grant to AISC Holdings, Inc. for the purpose of updating "SIMON", a bridge design software product. Since there are overlapping board members, there is oversight for the use of funds and completion of projects. The Foundation awards scholarships and fellowships to university students who meet certain academic criteria. The applicants selected are determined by an independent jury comprised of academics and professionals from the structural engineering community. The monies are made payable directly to the University and credited to the winner's account. The selected winners and the corresponding universities are notified independent of the awards. Any problems pertaining to the posting of the awards would be handled directly with the university. The Foundation also awards the "T.R. Higgins" Award to an outstanding Lecturer and author whose technical paper or papers are considered an outstanding contribution to the engineering literature on fabricated structural steel. The funds awarded are used to assist the winner in further developing his/her advancement of engineering technology related to fabricated structural steel. Furthermore, the winner presents lectures, upon request, during the coming year at professional association events. |
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| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | Stephen E. Porter Treasurer AISC Education Foundation, Inc. President Indiana Steel Fabricating, Inc. P.O. Box 421547 Indianapolis, IN 46242-1547 William B. Bourne III Member AISC Education Foundation, Inc. President/CEO Universal Steel, Inc. 2400 S. Stone Mountain Lithonia Rd. P.O. Box 797 Lithonia, GA 30058 David Harwell Chairman AISC Education Foundation, Inc. President Central Texas Iron Works, Inc. 1000 Winchell Drive P.O. Box 2555 Waco, TX 76702-2555 Terry Peshia Vice Chairman AISC Education Foundation, Inc. Chairman & CEO Garbe Iron Works, Inc. 456 North Broadway Aurora, IL 60505 David B. Ratterman ESQ Secretary AISC Education Foundation, Inc. Partner Stites & Harbison, PLLC 400 W. Market Street, Suite 1800 Louisville, KY 40202-3352 |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | The external public accounting firm, Grant Thornton, reviewed the required tax documents and returns. Grant Thornton forwarded a draft copy of the 990 to AISC Education Foundation, Inc., where AISC staff reviewed internally. AISC staff forwarded the final copy of the 990 to the Board of Directors of AISC Education Foundation, Inc. When the review was completed by AISC staff, and the return was forwarded to the board prior to filing, AISC staff notified Grant Thornton to file the return. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | AISC Education Foundation, Inc.'s conflict of interest policy is the same policy that was created for AISC Holdings, Inc. The Board of Directors of AISC Education Foundation, Inc. are required to sign a conflict of interest acknowledgement each year. If there was a conflict of interest identified, this conflict would be disclosed by the board member. In the event a conflict exists, the board member is not permitted to be involved in meetings related to the conflict nor are they able to vote on any subject related to the conflict. AISC Education Foundation, Inc. has not had any conflicts reported. The conflict of interest policy is displayed and emphasized at all meetings. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | AISC Education Foundation, Inc. makes its Articles of Incorporation, Bylaws, conflict of interest policy, and financial statements available upon request to the public. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | Alternative Addresses For Officers, Directors, Trustees and Key Employees |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | Review of Form 990 |
| IRS990ScheduleO/GeneralExplanation/Identifier | 2 | Monitoring and enforcing the Conflict of Interest Policy |
| IRS990ScheduleO/GeneralExplanation/Identifier | 3 | Governing Documents Available to The Public |
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| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | Form 990, Part VI, Line 12c |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $1,104,497
- Liabilities
- $17,813
- Net assets
- $1,086,684
- Revenue
- -
- Expenses
- $295,654
- Net income
- -