The Manufacturing Institute

Nonprofit profile at a glance

EIN
521073576
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2026373426
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$8,840,593
Expenses
$7,639,458
Assets
$10,320,722
Liabilities
$2,128,027

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

Leadership & pay

17 people listed

Executive titles in this filing

  • CAROLYN LEE (PRESIDENT & EXECUTIVE DIRE)

Highest reported compensation

  • JAY TIMMONS (CHAIRMAN): $6,143,283 total reported compensation
  • TODD BOPPELL (TREASURER): $666,129 total reported compensation
  • CAROLYN LEE (PRESIDENT & EXECUTIVE DIRE): $579,823 total reported compensation

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

Overview

Mission

The manufacturing institute's mission is to build a resilient manufacturing workforce prepared for the challenges and opportunities of the future. Through implementing groundbreaking programs, convening industry leaders and conducting innovative research, the mi furthers individual opportunity, community prosperity and a more competitive manufacturing industry. As the 501 (c)3 nonprofit workforce development and education affiliate of the national association of manufacturers, the mi is a trusted adviser to manufacturers, equipping them with solutions to address the toughest workforce issues

What it reported doing in 2024

Connecting the military with manufacturing career opportunities: the mi's heroes make america builds connections between the military community and the manufacturing industry. The program provides integrated certification and career-readiness training in partnership with local community colleges to prepare transitioning service members, veterans, national guard, reservists and military spouses for rewarding careers in manufacturing.

Operating model

Revenue model
Donor-supported. 69% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 98% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 75
  • Accountability: 76
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.2%; rating input score 71
  • Program expense ratio: 81.4%; rating input score 81
  • Fundraising efficiency: $9.93 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 13th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.6%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 1.35; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 42.8%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 18.7% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 12.8% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 13.5% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 71.2% of revenue deployed · 81.4% of spending went to programs
  • Governance: 6 of 8 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $6.2M in reported program spending
  • Leadership: top reported pay $6.1M · 17 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $895K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 2 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.