Forging Industry Educational and Research Foundation

Nonprofit profile at a glance

EIN
346556992
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Independence, OH, USA
Phone
2167816260
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$453,005
Expenses
$524,081
Assets
$3,697,698
Liabilities
$150,230

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • JUSTIN DZIK (PRESIDENT)
  • KEVIN SEIDEL (VICE PRESIDENT)
  • JAMES R WARREN (CEO)
  • ANGELA GIBIAN (EXECUTIVE DIRECTOR / DEPUTYCEO)
  • AMANDA DUREIKO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • AMANDA DUREIKO (EXECUTIVE DIRECTOR): $96,839 total reported compensation
  • JAMES R WARREN (CEO): $40,499 total reported compensation
  • ANDREW ZIELINSKI (CFO): $23,317 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support and enhance the forging industry through education, research and development, and dissemination of information.

What it reported doing in 2024

Presidents challenge scholarship program.grants to colleges and universities to fund technology development projects for forging and related industry collaborative research.scholarship program for college students majoring in select programs at accredited colleges or universities. Scholarships are provided to encourage careers in forging and related industries.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 77% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 83
  • Accountability: 63
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.3%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 73.6%; rating input score 74; 47th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -15.7%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 7.06; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.3% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $515K in reported program spending
  • Leadership: top reported pay $97K · 16 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 7 of 8 not reported.
  • High — Sustainability: Operating margin scored 17/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.