Institute of Tribology and Coatings

Nonprofit profile at a glance

EIN
810648827
IRS 990 coverage
2009–2014
Forms available
Form 990 2014
Location
Sugar Grove, IL, USA
Phone
6305563669
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Research Institutes and/or Public Policy Analysis

Official website

Reported finances

Revenue
$-25,493
Expenses
$68,497
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • DR JOHN FILDES (PRESIDENT)

Highest reported compensation

  • DR JOHN FILDES (PRESIDENT): $11,250 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Itc is a not-for-profit organization that aspires to improve the practice of science and technology and to apply these improvements for the betterment of our nation's military readiness, our industry's competitiveness, and our legal system's effectiveness and fairness. Itc fills its mission by serving the military, industry, and the legal system.

What it reported doing in 2014

Itc helps organizations solve important problems. Itc organized a collaborative of leading academics, national lab staff, and retired professionals that serve as an intellectual resource contributing problem-solving skills and high level strategy through multidisciplinary scientific research and network of expertise. Itc had developed highly effective and efficient custom internet-based tools for project coordination and management for time and expense tracking. Itc also assists organizations with meeting their goals, for example assisting the military and a weapons maker with developing a desert resistant weapon for use by the military and providing industry with innovative and unbiased resources to solve disputes and to understand product failures. Its also places a high priority on providing new models of standardized testing and equipment that is designed to produce accurate, consistent, and meaningful results. For example, itc has major r&d and testing thrusts in evaluating the effects of adding nanoparticles to lubricants and cutting fluids and with developing innovative ways to measure the properties of lubricants and coatings during friction wear testing.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 100
  • Accountability: 59
  • Sustainability: 6
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 23.3%; rating input score 23
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 57.1%; rating input score 57; 20th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -368.7%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 16.4%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -18% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: -68% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -21% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 23.3% of spending went to programs
  • Governance: 4 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $16K in reported program spending
  • Leadership: top reported pay $11K · 7 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes related organizations
  • Filing history: 6 filing years from 2009 to 2014
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Program expense ratio scored 23/100.
  • Review — Accountability: Independent voting board scored 57/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.